BANKING CHARGES. April 2016

Transcription

1 BANKING CHARGES April 2016

2

3 Contents Your guide to our charges 1 Current account fees 2 Overdrafts 5 Our Control Option 9 Examples Unplanned Overdraft Fees 11 Debit card and Cashpoint card charges 13 Other services 14

4 Your guide to our charges If you have a personal account at any of our UK branches, this guide tells you everything you need to know about our main fees and charges. You might find it helpful to keep it with your bank statements and use it to plan ahead and avoid unnecessary fees. Unless you pay a monthly fee for an account with added benefits, we don t normally charge you for everyday banking providing your account is in credit. There are some events, however, like using your cards abroad, where there may be charges. This guide will tell you exactly how the charges work, and when they may be applied. If you want to use a service we haven t covered here, we ll always let you know before you are charged. If we make any changes to fees or services you regularly use we ll always let you know in advance. When charges are applied Different fees are taken from your account at different times. For example, regular fees like monthly account or benefit package fees will come out of your account at the end of your monthly billing period. This is usually from the second working day of each month to the first working day of the next month, but it can vary. If you d like to check what your monthly billing period is please just ask us in branch, or call us on There are some charges that are made at the time we provide you with the service, for example, when you use your debit card abroad. Other charges, such as the Monthly Overdraft Usage Fee, overdraft interest or Unplanned Overdraft Daily Fees, are worked out at the end of the monthly billing period and we ll always let you know the amount before they are taken from your account. If you change an account or service that has a regular fee attached to it, such as a monthly account fee, part way through your billing period, you ll only pay for the time you ve actually had it. Call us, go online or visit one of our branches for more information on all fees and interest rates. 1

5 Current account fees To check what type of current account you have please see your statement, visit us in branch or call Type of current account Monthly account fees Main benefits Under 19s Free A current account specifically designed for year olds. Classic Free 25 Interest and fee-free Planned Overdraft (subject to application and approval). Student Free Interest and fee-free tiered Planned Overdraft available (subject to application and approval). Special discounts and incentives which are detailed in your welcome pack (subject to availability). Graduate Free Interest and fee-free tiered Planned Overdraft available (subject to application and approval). Islamic Free Free banking for everyday transactions and confidence the money you keep with us in your Islamic account will not be used for any interest based or non Shariah approved activities. Basic Free Free banking for everyday transactions. If the type of account you hold isn t listed here please visit lloydsbank.com for an overview of your account features and charges, or ask in branch. 2

6 Accounts with added benefits We use a range of third party providers for the benefits on these accounts. More information on all the benefits and exclusions is available at lloydsbank.com see the Upgrade options tab on our current account page. If you re an existing customer and hold one of our Select, Gold or Premier accounts you can find out about your account fees online at lloydsbank.com see the Existing customer tab on our current account page. Type of current account Club Lloyds* Monthly account fees 5 (waived when you pay in at least 1,500 each month)* Main benefits An account that gives you everyday banking plus a range of benefits including: A choice of one Lifestyle Benefit. A range of banking offers. Earn tiered, variable credit interest on your balance between 1 and 5,000 when you have 2 different direct debits paid from your account each calendar month. 100 interest and fee-free Planned Overdraft (subject to application and approval). Silver 9.95 An account that gives you everyday banking plus a range of benefits including: AA Roadside Assistance and Accident Management. Mobile Phone Insurance from LSG. AXA European Travel Insurance including Family and Winter Sports Cover. Cover ceases fully on the account holder s 65th birthday. As long as the account holder is under 65, their spouse, civil partner or partner will also be covered until they reach 65. Cover for children ceases on their 18th birthday (24th if in full time education). Children must travel with you or a Responsible Adult. 50 interest and fee-free Planned Overdraft (subject to application and approval). Platinum** 17 An account that gives you everyday banking plus a range of benefits including: AA Roadside Assistance with Relay, Home Start and Accident Management. Mobile Phone Insurance from LSG. AXA Worldwide Travel Insurance including Family and Winter Sports Cover. Cover ceases fully on the account holder s 80th birthday. As long as the account holder is under 80, their spouse, civil partner or partner will also be covered until they reach 80. Cover for children ceases on their 18th birthday (24th if in full time education). Children must travel with you or a Responsible Adult. 300 interest and fee-free Planned Overdraft (subject to application and approval). * Club Lloyds: If you pay 1,500 or more into the account in any calendar month the Club Lloyds fee for that monthly billing period will be waived. ** Platinum: If you opened your account before 14 January 2005 your monthly account fee will be waived if your balance remains at or above 4,000 during the monthly billing period. If your account is upgraded, downgraded or you add Club Lloyds benefits to your account you will lose the fee waiver. You can find full details of all of the accounts we offer on lloydsbank.com or by speaking to a member of staff. 3

7 Club Lloyds and Added Value Accounts You can add Club Lloyds benefits to your Silver, Gold*, Platinum and Premier* Accounts (subject to meeting the relevant conditions). You will pay both of the fees detailed below, but if you pay 1,500 or more into the account in any one calendar month the Club Lloyds fee for that monthly billing period will be waived. Type of current account Monthly account fees Club Lloyds fee Interest and fee-free Planned Overdraft amount (subject to application and approval) Club Lloyds Silver Club Lloyds Gold Club Lloyds Platinum Club Lloyds Premier All of these offer you a range of banking offers and tiered, variable credit interest on your balance between 1 and 5000 when you have 2 different direct debits paid from your account each calendar month, and a choice of one Lifestyle Benefit (terms and conditions apply). *Please note that Club Lloyds Gold and Club Lloyds Premier are only available to customers with an existing Gold or Premier account. 4

8 Overdrafts An overdraft is where, as part of our service, we are willing to lend you money through your current account. We provide two types of overdraft: a Planned Overdraft and an Unplanned Overdraft. If you decide you need an overdraft, you can ask us in advance for a Planned Overdraft on certain accounts. You can also ask to increase an existing Planned Overdraft limit at any time. You must be 18 or over to have a Planned Overdraft*. How much we lend, if anything, depends on our assessment of your personal circumstances. Lloyds Bank is a responsible lender and we only want you to borrow what you can afford and in a way that is best for you. If you try to make a payment but do not have enough available funds in your account or sufficient Planned Overdraft, we will treat this as a request for an Unplanned Overdraft to cover that payment. We will either agree to your request or you will not be able to make that payment. Fees will normally be charged in either case. Please see Section F in the Personal Banking Terms and Conditions, for more details about overdrafts and available funds. Overdraft buffer Our overdraft buffer is designed to give you flexibility if you don t have, or exceed, a Planned Overdraft. If you use an Unplanned Overdraft of 10 or less, then we will not charge you any additional overdraft fees, but you will be charged debit interest on that amount. If you use an Unplanned Overdraft of more than 10, then you will pay interest on the whole of any Unplanned Overdraft balance, daily fees and a Monthly Overdraft Usage Fee (unless you have already been charged one that month). You will also normally be charged interest if you use a Planned or Unplanned Overdraft. Overdrafts are subject to status and repayable on demand. Interest payable on overdrafts Where you are charged interest, the same rate of interest is currently payable for both Planned and Unplanned Overdrafts. The rate you pay will depend on the type of current account you have with us. Please note that although the same rate of interest is payable, the fees are different. Please see the Overdraft fees section for details. * Planned Overdrafts are not available on our Basic Account. 5

9 Overdraft interest rates Account Overdraft Interest rate %per month Overdraft Interest rate %EAR* Platinum 1.34% 17.28% Silver and Classic 1.53% 19.94% Club Lloyds Premier 1.20% 15.43% Club Lloyds Platinum 1.34% 17.28% Club Lloyds, Club Lloyds Gold and Club Lloyds Silver 1.53% 19.94% These interest rates are correct as at April Interest rates are variable. *EAR is the Equivalent Annual Rate. This is the actual annual interest rate of an overdraft. It doesn t take into account fees and charges. Please see page 10 for details of interest rates on our other accounts. 6

10 Overdraft fees We will charge you the following fees for all overdrafts, whether Planned Overdrafts or Unplanned Overdrafts : Fee Amount Description Monthly Overdraft Usage Fee 6 You will only pay this fee if you use a Planned Overdraft by more than any interest and fee free amount or Unplanned Overdraft by more than any buffer at any time during your monthly billing period (even if your next monthly billing period is only a few days away). We will charge you a maximum of one Monthly Overdraft Usage Fee in a monthly billing period. We will not charge you any other fees for a Planned Overdraft, however you will be charged interest on any debit balances above any interest and fee-free amount. REPRESENTATIVE EXAMPLE If you use a Planned Overdraft limit of 1,200 on our Classic Account, the overdraft interest rate we charge on the first 25 will be 0% EAR variable. The overdraft interest rate on the next 1,175 will be 19.94% EAR variable and a Monthly Overdraft Usage Fee of 6 will apply. EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn t take into account other fees and charges. If we agree to your request for an Unplanned Overdraft, we will also charge you the following fees: Fee Amount Description Daily fee Unplanned Overdraft balance is: You will pay a daily fee that will be worked out at the end of each day (including weekends and Bank Holidays) on the balance of your Unplanned Overdraft. We will charge you a maximum of eight daily fees in a monthly billing period. More than 10 but less than 25 5 a day 25 or more 10 a day Overdraft fees and interest do not apply on Under 19s, Islamic Accounts or Basic Accounts. An overdraft continues until it is repaid. So, at the start of any monthly billing period, if you still have an overdraft from the previous monthly billing period, you will incur a further Monthly Overdraft Usage Fee (where applicable) and, if it is an Unplanned Overdraft, up to another eight daily fees (depending on when you pay it back) as well as any interest on your debit balance. Unplanned Overdrafts are intended for short term, unexpected borrowing. If you know you are likely to need to borrow from us, please ask for a new or increased Planned Overdraft. You can do this by visiting us in branch, calling us on or online at lloydsbank.com if you re registered for Internet Banking. 7

11 Returned items Where you do not have enough available money to make a payment and we do not agree to give you or extend an Unplanned Overdraft, you will not be able to make that payment. We will write to tell you we have declined your request. We will charge you the following fee: Fee Amount Description Returned Item Fee 10 for each item Returned Item Fee is not applicable on Basic Account We will charge you up to a maximum of three Returned Item Fees a day. This fee will not be charged if the amount of the payment that we decline is 10 or less. Avoiding overdraft charges Our Grace Period means that you have until 3.30pm (UK time) to pay in enough to avoid Returned Item Fees and ensure the payment goes out, but you have until midnight to avoid overdraft fees and interest. The money needs to be immediately available to use, so you could transfer money from another personal account you have with us via Mobile Banking, Internet Banking or Telephone Banking or pay in cash over the counter in branch. Payment of standing orders and future dated payments We make payments from your account shortly after midnight at the start of the due date. If your payment date falls on a non-working day, then we will try to collect your payment the next working day. If you don t have enough funds in your account at this point to make a payment, we will try to make a payment again after 3.30pm the same day. This gives you the chance to put extra funds into your account so that we can make the payment. The money needs to be available to use straight away, so you could transfer money from another personal account you have with us via Internet, Mobile or Telephone Banking or pay in cash over the counter in branch. If you do not have enough funds at the beginning of a day to make a payment: You have until 3.30pm to pay money into your account to make the payment that day If a payment takes you into any type of overdraft, you have until midnight to pay money into your account to avoid overdraft fees and charges. If there are still not enough available funds, we will make a final try on the next working day before rejecting the payment. We will only charge a Returned Item Fee if all three tries are unsuccessful, and we will not charge more than one Returned Item Fee for that failed payment. If we charge a Returned Item Fee then we will write to let you know about the failed payment. 8

12 Our Control Option Control is an add-on for our Classic and Club Lloyds accounts that can help you to stay on top of your finances. Control cannot be added to any of our other current accounts, even where Club Lloyds benefits have been added to a Silver, Gold, Platinum or Premier account. For a 10 monthly fee, Control will help you in two ways: We will not charge you any Returned Item Fees if you try to make a payment for which you do not have enough available money, however you may incur charges from the recipient of the payment. If your account does go into an Unplanned Overdraft, you will not pay any fees for the Unplanned Overdraft. Interest will still be charged. The charges and interest for Planned Overdrafts are the same as shown in the table on pages 6 and 7. Other ways to stay in control of your account You can stay in control by checking your balance on a daily basis: at any Lloyds Bank branch at any Cashpoint machine through Telephone Banking on online at lloydsbank.com 9

13 Overdraft information on other accounts Islamic Account Our Islamic Account is Shariah compliant and Planned Overdrafts are not available. Where you do not have enough available money to make a payment, we will not usually agree to provide an Unplanned Overdraft and the Returned Item Fee will apply. If we do give you an unplanned overdraft we won t charge you interest or overdraft fees. Basic Account For Basic Accounts we do not provide a Planned Overdraft. If you attempt to make a payment when you have insufficient funds to cover that payment in your account, the payment will not be made and you will not be charged a Returned Item Fee. If we do let you have an unplanned overdraft we won t charge you interest or overdraft fees. Under 19 s For Under 19 s Accounts we do not provide a Planned Overdraft. If something does go wrong and your account goes overdrawn by mistake, we will work with you to make sure your account is put right and we won t charge you any overdraft daily fees, Returned Item Fees, interest or a Monthly Overdraft Usage Fee. Student Account In the first three years of your studies we offer a tiered interest and fee-free overdraft of up to 1,500. In the first six months you can apply for up to 500, in months seven to nine up to 1,000 and from month ten up to the end of year three for up to 1,500. In years four to six, we offer an interest and fee-free overdraft of up to 2,000. In each case the amount we lend will be subject to a review of your personal circumstances. The interest rate charged on overdraft balances over the interest and fee free amount is 0.66% per month (8.21% EAR variable). Graduate Account Year 1 The interest rate charged on overdraft balances over 2,000 is 1.30% per month (16.77% EAR variable). Debit interest is not charged on balances of 2,000 or less. Year 2 The interest rate charged on overdraft balances over 1,500 is 1.30% per month (16.77% EAR variable). Debit Interest is not charged on balances of 1,500 or less. Year 3 The interest rate charged on overdraft balances over 1,000 is 1.30% per month (16.77% EAR variable). Debit Interest is not charged on balances of 1,000 or less. Overdrafts on all of our Student and Graduate accounts are subject to application and approval. For details of the overdraft fees which are payable, please see pages 7 and 8. These interest rates are correct as at April EAR is the Equivalent Annual Rate. This is the actual annual interest rate of an overdraft. It doesn t take into account fees and charges. 10

14 Examples Unplanned Overdraft Fees The table below gives examples of the fees you ll pay if you try to make a payment when you do not have available funds in your account. You may find it helpful to refer to your recent bank statements to see how you currently use your account. This will help you identify why you might have to pay fees and how you can avoid paying them in the future. We developed these examples with the Office of Fair Trading and leading consumer groups to help you think about how changing the way you use your account can affect the amount you could pay. In addition to Unplanned Overdraft Fees, you may also pay interest on any Unplanned Overdraft you use. Please note that the following scenarios are to be used as examples only and you may not be able to use your account in this way. Reasons that you might pay fees Classic, Silver, Platinum, Student and Graduate Accounts* Club Lloyds Account, Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum and Club Lloyds Premier Accounts* Classic Account with Control ( 10 monthly fee) Basic Account Islamic Account We refuse a payment from your account because there is not enough money in your account. If value of payment is 10 or less: Nil If value of payment is or greater: 10 If value of payment is 10 or less: Nil If value of payment is or greater: 10 Nil Nil If value of payment is 10 or less: Nil If value of payment is or greater: 10 A payment from your account takes you into an Unplanned Overdraft by 10 or less. You use an Unplanned Overdraft for one day during the month. A payment from your account takes you into an Unplanned Overdraft and you make another payment from the account while you are overdrawn. You use an Unplanned Overdraft for two days in a row during the month. (Based on your account being in an Unplanned Overdraft for one day between followed by one day in excess of 100). Nil Nil Nil Nil Nil Nil Nil Nil 11

15 Reasons that you might pay fees. A payment from your account takes you into an Unplanned Overdraft and you make nine further payments from your account while you are overdrawn. You use an Unplanned Overdraft for 10 days in a row during the month. (Based on your account being in an Unplanned Overdraft for one day for between and then for nine days in excess of 100 ). Classic, Silver, Platinum, Student and Graduate Accounts* Club Lloyds Account, Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum and Club Lloyds Premier Accounts* Classic Account with Control ( 10 monthly fee) Basic Account Nil Nil Nil Islamic Account A payment from your account takes you into an Unplanned Overdraft. You are overdrawn for one day. However, on three further occasions during the same month, a payment takes you into an Unplanned Overdraft. On each of these occasions you are overdrawn for three days. (Based on your account being in an Unplanned Overdraft for one day at less than 10, three days between and then six days in excess of 100 ). A payment from your account takes you into an Unplanned Overdraft. You are overdrawn for 21 days in a row during the month and you make 12 further payments from the account while you are overdrawn. (Based on your account being in an Unplanned Overdraft for five days between and 16 days in excess of 100 ) Nil Nil Nil Nil Nil Nil You will only pay Unplanned Overdraft Daily Fees for up to a maximum of eight days in any monthly billing period. * There is a monthly fee for the following accounts: Silver, Platinum, Club Lloyds, Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum and Club Lloyds Premier. We will not usually agree to provide an Unplanned Overdraft on our Islamic, Basic and Under 19 s Accounts. 12

16 Debit card and Cashpoint card charges When you withdraw cash in the UK (whether at an ATM or over the counter) Using your debit card or Cashpoint card at a Lloyds Bank Cashpoint machine or branch in the UK. Using your debit card at a non-lloyds Bank cash machine or non-lloyds Bank branch in the UK. Charges Free Lloyds Bank does not make a charge but the owner of the machine may. If so, the machine will show you the amount and tell you that it will be taken from your account when you withdraw the cash. When you use your debit card to purchase foreign currency or travellers cheques in the UK From Lloyds Bank. From any other banks, travel agents, bureaux de change and outlets displaying the Visa sign. Charges Foreign currency and travellers cheques: free. Lloyds Bank does not make a charge but the provider of foreign currency or travellers cheques may make a charge. When you withdraw cash abroad (whether at an ATM or over the counter) Using your Lloyds Bank debit card. Using your Cashpoint card. Charges When you withdraw cash abroad normally we convert a withdrawal to sterling on the day it is processed by Visa using the Visa Payment Scheme Exchange Rate. We will charge a non-sterling transaction fee of 2.99% of the value of the withdrawal and we will charge a non-sterling cash fee of 1.5% of the value of the withdrawal which will be a minimum of 2 and a maximum of Where you elect to allow the ATM operator/financial service provider to make the conversion to sterling we will charge a foreign cash fee of 1.5% of the value of the withdrawal which will be a minimum of 2 and a maximum of The provider of the foreign currency may make a separate charge for conversion. When you withdraw cash abroad normally we convert a withdrawal to sterling on the day it is processed by Visa using the Visa Payment Scheme Exchange Rate. We will charge a non-sterling transaction fee of 2.99% of the value of the withdrawal and we will charge a non-sterling cash fee of 1.5% of the value of the withdrawal which will be a minimum of Where you elect to allow the ATM operator/ financial service provider to make the conversion to sterling we will charge a foreign cash fee of 1.5% of the value of the withdrawal which will be a minimum of The provider of the foreign currency may make a separate charge for conversion. Please note there is no maximum non-sterling cash fee or foreign cash fee. When you use your debit card to make a purchase or other transaction (not cash withdrawal, foreign currency or travellers cheque purchase) in a currency other than sterling whether you are in the UK or abroad Using your Lloyds Bank debit card. Charges The amount is converted to sterling on the day it is processed by Visa using the Visa Payment Scheme Exchange Rate. We will charge a non-sterling transaction fee of 2.99% of the value of the transaction and we will charge a non-sterling purchase fee of 1 which is not applicable if you use a Platinum or Premier account debit card. 13

17 Other services Service If you ask us to stop a cheque (unless the cheque was lost or stolen, when this would be free of charge). Special cheque presentation if you ask for a cheque to be express cleared. Returned cheque if a cheque you pay into your account is returned to us unpaid by another bank or branch. Statements we will send you regular account statements which are free of charge. Duplicate statements. Charges Free Free 5 for each request (for any number of pages) Banker s draft/cheque (sterling). 20 CHAPS Payment when you transfer cleared money to accounts held at any other bank on the same day, to arrive the same day. This will include an advice to the person you are paying when the payment reaches their bank. 30 Overseas Payments and deposits Charges International Payment International Draft. 20* Electronic payments received from abroad. Receiving a payment up to fee Receiving a payment of 100 or over 7 fee Cheques received from abroad. Sterling value of 100 or less = 5. Sterling value more than 100 = 0.25% of the total sterling value to a maximum of 80. The minimum value charged will be between 8 and 15 depending on whether we negotiate the cheque, or wait for the funds to be released by the paying bank. For more information visit us at lloydsbank.com * There is a 20 charge for cancelling an international draft (it also costs 20 to re-issue an international draft). Refund conversions will be made using our standard exchange rate for the transaction on the day we receive the money. 14

18 15

19 Important Information Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information. Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Our promise is to do our best to resolve any problems you have. If you wish to complain visit your local branch or call or (Textphone or , if you have a hearing impairment). For more information visit lloydsbank.com/contactus Cashpoint is a registered trademark of Lloyds Bank plc. Lifestyle Benefits are administered by The Grass Roots Group UK Ltd. We don t charge you for Mobile Banking, but your mobile operator may charge for some services, please check with them. Services may be affected by phone signal and functionality. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration No We also subscribe to The Lending Code. Details can be obtained from Eligible deposits with us are protected by the Financial Services Compensation Scheme. We are covered by the Financial Ombudsman Service. Information correct as of April

20 Find out more Go to lloydsbank.com ÕÕ Call us on uu Visit your local branch If you d like this in another format such as large print, Braille or audio please ask in branch. If you have a hearing or speech impairment you can contact us using Text Relay or Textphone on (lines are open 24 hours a day, seven days a week). If you are Deaf you can use BSL and the SignVideo service available at lloydsbank.com/accessibility/signvideo.asp M52510 (04/16)