Club Lloyds Account or Benefits Package

Transcription

1 Club Lloyds Account or Benefits Package Thank you for opening/converting your account with Lloyds Bank plc. Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions) and additional conditions. These include the conditions below and in the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the Personal Banking general terms and conditions, the additional conditions apply. If there is any overlap or conflict between these conditions below and any other additional conditions these conditions below will apply. Your Club Lloyds account includes a range of benefits. A Club Lloyds benefits package can only be added to one of our Silver, Gold, Platinum, or Premier Added Value Accounts. If you add a Club Lloyds benefits package then these Club Lloyds conditions are in addition to those that apply to your current account and they will apply from the day the Club Lloyds benefits package is added to your account. Eligibility: To open the Account you must be 18 or over and you must be resident in the UK and either an EU National or have permission to stay in the UK for at least 12 months. You will need to continue to live in the UK to take advantage of the banking offers and lifestyle benefits that come with Club Lloyds. Customers may hold a maximum of one account with Club Lloyds benefits (either a Club Lloyds account or an Added Value current account with a Club Lloyds benefit package) in their sole name and one in joint names. No more than two customers may hold any one Club Lloyds account or have a Club Lloyds benefits package added to their account. Club Lloyds Fee: By opening a Club Lloyds account or adding the Club Lloyds benefits package to your account you agree to pay a monthly Club Lloyds fee of 5. If you have added a Club Lloyds benefits package to an existing account, then this fee will be in addition to your monthly Added Value Account fee. The Club Lloyds fee will automatically be taken from your account at the end of the monthly billing period. The monthly billing period for our Club Lloyds customers is from the 2nd working day of a calendar month to the 1st working day of the next. If this is different to your current monthly billing period we will change it straight away. If you open your Club Lloyds account, or add the Club Lloyds benefits package to your account, part way through a billing period no Club Lloyds fee will be charged in relation to that monthly billing period. The first Club Lloyds fee will not be charged until the end of the next monthly billing period. If you close your account, or remove the Club Lloyds benefits package, part way through a monthly billing period the last Club Lloyds fee payable will be reduced by a proportionate amount. If you pay 1,500 or more into the account in any calendar month the Club Lloyds fee for that month will be waived. If you are adding the Club Lloyds benefits package to an account for which we normally charge a monthly account fee but you benefit from a fee waiver, that monthly account fee waiver will no longer apply and we will charge you the normal monthly account fee as well as the monthly Club Lloyds fee. Credit Interest: We will pay interest on a credit balance in your account for that billing period as long as you have a minimum or two different direct debit mandates paid from your account during the calendar month.

2 We will not pay credit interest if this condition is not met. We also do not pay credit interest on any amount over the Club Lloyds upper limit of 5,000. We will work out credit interest on a daily basis at the relevant Club Lloyds credit interest rate from the 2nd working day of that month and pay it to your account at the end of the first working day of the next month. The Club Lloyds credit interest rates are variable and are different depending on the amount in your account. They will apply from the working day on which you open your Club Lloyds account. The current Club Lloyds credit interest rates and the balances to which they apply can be viewed at in our UK branches or by phoning us on Or if you are calling from abroad or prefer not to use our 0845 number, you can also call us on If the account which you are switching from, or adding Club Lloyds benefits package to, currently has Vantage or Plus, you agree that these conditions will immediately replace in full the Vantage or Plus terms and conditions. Account Features: You can withdraw up to 500 a day using your debit card from any Lloyds Bank cashpoints or other LINK cash machines. Cash withdrawals of up to 10,000 a day can be made over the branch counter. If you want to withdraw more than 10,000 a day you will need to give your branch advance notice. Banking Offers: We provide a range of offers on banking products that are available to our Club Lloyds customers. Further details can be viewed at in our UK branches or by phoning us on Or if you are calling from abroad or prefer not to use our 0845 number, you can also call us on Lifestyle Benefits: A Club Lloyds account or benefits package holder is entitled to choose to receive any one from a range of Lifestyle Benefits each of which will be described in the welcome pack. For a joint account only one benefit can be chosen. These benefits are provided by different third party suppliers, through Grass Roots Group UK Limited. Benefits in each case are subject to the supplier s terms and conditions and are subject to change upon notice by the provider. You have 30 days from the date the account is opened to select the benefit you wish to receive, and the chosen benefit will commence at the end of that period. If a selection is made more than 30 days after the account has been opened (or more than 30 days following any subsequent account anniversary date), the benefit chosen will be provided on a proportionately reduced basis until the next anniversary date. You will shortly receive a welcome letter or from Grass Roots Group UK Limited. This will contain the terms and conditions of each of the benefits offered including eligibility and exclusions as well as how and when you can change the benefit you select, so please read them carefully. If you do not receive this in 14 days then please contact Grass Roots Group UK Limited on or local number To exercise or change your benefit option you must follow the procedures contained in the welcome letter or sent to you by Grass Roots Group UK Limited. The benefit selected will apply for a year after which you will be given the option to change the benefit you wish to take. If you choose not to change your benefit, then your existing benefit will be automatically renewed for another year. The benefit option selected will continue for so long as the Club Lloyds account remains open, or you have a Club Lloyds benefits package added to an Added Value Account, and the Club Lloyds fee continues to be paid or conditions for the fee to be waived are met. If you close your Club Lloyds account, remove the Club Lloyds benefits package from your account, change to one of our other account types (without Club Lloyds), or cease to be eligible for the account in any other way we reserve the right to cancel any benefits associated with the account.

3 Changes: If we make a change to these conditions we will give you at least 2 months notice of the change (except in relation to any change to any of the Lifestyle Benefits stated above or to the terms under which those options are provided where we will give you at least 30 days notice of the change). You can close your account, or remove a Club Lloyds benefits package from your account, without charge during the notice period. Silver Current Account Your Silver account includes a range of benefits. Further details can be found in your welcome pack. To have the Account you must be 18 or over. Charges: The monthly billing period for our Silver customers is from the 2nd working day of a calendar month to the 1st working day of the next. If you open a Silver account part way through a billing period, the first fee will be reduced by the appropriate amount Platinum Current Account Your Platinum account includes a range of benefits. Further details can be found in your welcome pack. To have the Account you must be 18 or over. Charges: The monthly billing period for our Platinum account is from the 2nd working day of a calendar month to the 1st working day of the next. If you open a Platinum account part way through a billing period, the first fee will be reduced by the appropriate amount Adding another person to your account If you have asked us to change the account(s) to add an additional party. You agree that we may carry out any instructions that were given before your request and we will continue to make payments such as standing orders and direct debits that are on this account until you ask us to stop. All account holders can operate their accounts individually and are individually and jointly liable for all amounts owed to us on those accounts. It is important that you read the Personal Banking terms and conditions as these explain how we deal with joint accounts and your responsibilities. If one of you asks us to set up a Planned Overdraft on the account, we can provide that person with precontractual information but do not need to provide it to all of you. We will send bank statements to both of you unless one of you tells us that you do not want statements sent to you. If you change your mind at any time, let us know and we will send statements to both of you.

4 Joint Accounts All account holders can operate their accounts individually and are individually and jointly liable for all amounts owed to us on those accounts. It is important that you read the Personal Banking terms and conditions as these explain how we deal with joint accounts and your responsibilities. If one of you asks us to set up a Planned Overdraft on the account, we can provide that person with precontractual information but do not need to provide it to all of you. We will send bank statements for your account to both of you unless one of you tells us that you do not want statements sent to you. If you change your mind at any time, let us know and we will send statements to both of you again. Club Lloyds Saver Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions leaflet) and additional conditions. These include the conditions below and the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the Personal Banking general terms and conditions, the additional conditions apply. The Club Lloyds Saver (the Account) is an instant access savings account with a variable interest rate. The Account is provided by Lloyds Bank plc. ELIGIBILITY To open the Account you must have a Club Lloyds current account, Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum or Club Lloyds Premier account. If you are opening a joint Account and one of you holds a Club Lloyds current account, Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum or Club Lloyds Premier account in your sole name you consent to this information being disclosed to the other Account holder. You can only have 5 Accounts in either your sole name or held jointly. DEPOSITS AND WITHDRAWALS You can pay money into the Account in branch, or by transferring money from another account with us or another bank. You can make withdrawals from the Account at any of our branches but you can only make payments from the Account to another Lloyds Bank current or savings account in your name (or in the case of a joint account, in any of your names). You cannot set up standing orders on the Account to make these payments. You can ask us for a card to make deposits to and withdrawals from the Account. Cashpoint is a registered trade mark of Lloyds Bank.

5 INTEREST The Account rates only apply to balances of 1 or more. The interest rates are variable and will vary depending on the amount in the Account. The interest rate for your Account is set out in our Savings Rates guide. We will pay interest once a year on the anniversary of opening the Account unless you choose to receive it monthly. Monthly interest is paid on the same date each month as you opened the Account. You can ask us to pay interest into a different account with us. Club Lloyds Monthly Saver Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions leaflet) and additional conditions. These include the conditions below and the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the Personal Banking terms and conditions, the additional conditions apply. The Club Lloyds Monthly Saver (the Account) has a fixed rate of interest. You must pay in money by standing order each month. The amount you pay in each month is limited. ELIGIBILITY To open the Account you must have a Club Lloyds current account, the Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum and or a Club Lloyds Premier account. If you are opening a joint Account and one of you holds a Club Lloyds current account, the Club Lloyds Silver, Club Lloyds Gold, Club Lloyds Platinum or Club Lloyds Premier account in your sole name you consent to this information being disclosed to the other Account holder. You can only have one Account in either your sole name or held jointly. You must set up a standing order to pay an amount of between 25 and 400 into the Account each calendar month it is open. You should arrange for the first of these payments to take place within 30 days of opening the Account. DEPOSITS AND WITHDRAWALS You can only pay money into the Account by your Standing Order. If the standing order is less than 25 or more than 400 we will return it to the account it was paid from. If you miss a payment it cannot be made up. Your standing order cannot be set up from another savings account with us. You can make withdrawals from the Account at any of our branches but you can only make payments from this Account to a current or savings account in your name with is (or in the case of a joint account, in any of your names). You cannot set up standing orders on the Account to make these payments and you cannot replace any money you withdraw. INTEREST We agree to pay you interest at a fixed rate for one year from the date you open the Account. The interest rate for your Account is set out in our Club Lloyds Monthly Saver interest rate leaflet. We will pay interest once a year on the anniversary of opening the account.

6 CLOSING YOUR ACCOUNT Your Account will end on the first anniversary of opening the Account and we will convert the Account into an Easy Saver Account (or similar account if it is no longer available). Your account number will remain the same and we will continue to accept your standing order until you cancel it. You can close this account at any time. If the Account is closed early, you will not be able to open another Account before the anniversary of opening the first Account. Club Lloyds Credit Interest Rates Club Lloyds Account Credit Interest Rates AER % Gross % Net % % 1.00% 0.80% 2, % 1.98% 1.59% 4,000-5, % 3.93% 3.14% You will find our current interest rates for the account in our UK branches, online at or by phoning us on Explanation of Terms AER means Annual Equivalent Rate. AER illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers. Net rate is the contractual rate of interest payable after the deduction of income tax at the rate specified by law (currently 20%) Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. You can register your account to receive interest gross if you are unlikely to pay tax on your savings income. Rates are variable. Planned Overdrafts Club Lloyds If you have requested a Planned Overdraft then the terms of your Planned Overdraft are set out in the precontract information and the additional conditions of your overdraft which will be sent to you. The Planned Overdraft interest rates which apply are set out below. We do not charge interest in the interest and fee free amount of your Planned Overdraft. The Interest Rates that apply are:

7 Club Lloyds Planned Overdraft Debit Interest Rates Account Overdraft Interest rate % per Overdraft Interest rate % EAR* month Club Lloyds, Club Lloyds Gold and 1.53% 19.94% Club Lloyds Silver Club Lloyds Platinum 1.34% 17.28% Club Lloyds Premier 1.20% 15.43% Please note: We do not offer an overdraft buffer on Planned Overdrafts for our Club Lloyds account customers or customers who add a Club Lloyds benefits package to an eligible account. We will charge you interest on the whole amount of your Planned Overdraft over and above any interest and fee free amount. You will also be charged a monthly overdraft usage fee if you use your Planned Overdraft beyond any interest and fee free amount. We will charge you a maximum of one monthly usage fee in a monthly billing period in relation to the use of a Planned or an Unplanned Overdraft. We ask that you make regular payments into your account while you are using the Planned Overdraft. Please also remember that all overdrafts are repayable on demand, even where we have agreed them for a specific period. *Equivalent Annual Rate Variable Unplanned Overdrafts Club Lloyds If you make a payment which means your account goes overdrawn or over your Planned Overdraft limit, if you have one, we will charge the Unplanned Overdraft fees and charges set out in our Banking Charges guide. The following interest rates will also apply: Club Lloyds Unplanned Overdraft Debit Interest Rates Account Overdraft Interest rate % per Overdraft Interest rate % EAR* month Club Lloyds, Club Lloyds Gold and 1.53% 19.94% Club Lloyds Silver Club Lloyds Platinum 1.34% 17.28% Club Lloyds Premier 1.20% 15.43% *Equivalent Annual Rate - Variable Cooling Off If you are not happy with your choice of account or service, you can cancel it within 30 days of opening the account or taking the service. We will then help you to move another account we offer or will return your money to you with any interest you have earned on it.

8 If you have a Planned Overdraft you can also cancel it at any time by writing to us, visiting any branch, or by contacting us by telephone or online through Internet banking. If you do so, you must pay us any money you owe us. Data Protection Act It is important that you understand how the personal information you give us will be used and we strongly advise that you read our Privacy Statement, which you can find at or you can ask us for a copy. By signing the Application Form, you agree that we can use your information in the ways described. Checklist You confirm that you would like to receive a card. You confirm that you have received the following documents Your banking relationship with us (the Personal Banking terms and conditions) Welcome Pack Banking Charges Brochure