You are here:
LBIL Transfer / Guernsey
We plan to transfer accounts held with LBIL in Guernsey to the Guernsey branch of LBCM. LBIL is incorporated in Jersey and LBCM is incorporated in England and Wales. After the transfer this branch will trade under the name Lloyds Bank International, and subject to regulatory approval it will be regulated by the Guernsey Financial Services Commission.
If your accounts are included in the transfer, we will have written to you to let you know what it means for you. Investment portfolios are not part of the transfer.
You should find all the information you need below, but if you want to know more call us on 0345 366 2330 or + 44 (0)1539 871521 from abroad. Lines are open 9am to 5pm (UK time), Monday to Friday. Or contact your Relationship Manager if you have one.
If you think these changes could affect the tax you pay, or if you have any other questions about tax, please speak to an independent tax adviser.
View the Guernsey transfer sample letter and guide (PDF)
View the Investment Portfolio sample letter and guide (PDF)
The day–to–day running of your accounts, how you contact us, use our services and your local branch will not change as a result of this transfer. Your account details and features will also stay the same.
Your terms and conditions will stay the same, but you’ll see references to LBCM instead of LBIL and to the new trading name of Lloyds Bank International. You can view the new terms and conditions on our website from 2 December 2019. You’ll also see the new Lloyds Bank International logo on our letters and brochures.
Any eligible deposits you have with us in Guernsey will still be protected by the Guernsey Banking Deposit Compensation Scheme. You can find more information on the compensation schemes’ website.
If you agree to the transfer of your accounts you don’t need to do anything. If you do not want your accounts to transfer to LBCM, call us on the number at the top of this page, or contact your Relationship Manager if you have one. Or you can close your accounts - there may be charges for closing them, depending on your account terms and conditions.
If we don’t hear from you before 15 November 2019 we’ll take it to mean you’ve accepted the changes.
Q. Will my Direct Debits and standing orders continue to work as they do now? A. Yes, these will carry on as they do today.
Q. Will I need a new card, PIN or cheque book?A. No – you can carry on using your cards, PINs and cheque books as you do now. You’ll be sent a card in the new brand when your current card is due for re-issue – you don’t need to order one.
Q. I have a LBIL loan – will I see any changes?A. You will see no changes to the way we manage your loan. The way you make payments to your loan will stay the same – the amount will not change and neither will the date you make your payment. If your loan is already with LBCM, there will be no changes.
We may be in touch with you to confirm the transfer has been completed or if any further action is required. Additionally we may be in touch with associated parties on your account, such as Guarantors, to advise of the transfer.
Q. I have a LBIL mortgage – will I see any changes?A. If your mortgage is with LBIL your mortgage and any related security will transfer to LBCM. You will see no changes to the way we manage your mortgage. The way you make payments to your mortgage will stay the same – the amount will not change and neither will the date you make your payment. If your mortgage is already with LBCM, there will be no changes.
Q. I have an LBIL investment portfolio – will I see any changes?A. Investment portfolios are not included in the transfer. We will write to you separately about your investment portfolio and the capital and income accounts that relate to it.
Q. I have other accounts with LBIL in Jersey or the Isle of Man – will I see any changes?A. Please go to our dedicated page for Jersey and Isle of Man customers.
Q. Can I still request historical statements?A. You will continue to have access to the same information that you do today.
Q. I use Internet Banking – will my log on details stay the same? A. You can continue to log on using your current user ID, password and memorable information that you use today. The only changes to Internet Banking will be that you’ll see references to LBCM and the new trading name of Lloyds Bank International.
Q. I use Telephone Banking – will my security details stay the same?A. You can continue to use your current Telephone Banking Personal Security Number that you use today. The only changes to Telephone Banking will be that you’ll hear references to LBCM and the new trading name of Lloyds Bank International.
Q. Will the contacts for my accounts change?A. You can continue to contact us using the same details you do today or through your Relationship Manager as normal.
Q. I have a guarantor on my mortgage or loan, or I am a guarantor for another mortgage or loan - how will the guarantee be affected by the transfer?A. After the transfer, all references to LBIL in the guarantee will become references to LBCM. This means that any guarantor obligations will be owed to LBCM and not LBIL. The other terms and conditions in the guarantee will remain the same. If you are required to sign additional legal documents, or if any further action is required, to enable the transfer of your security arrangements, we will contact you before or following the transfer.
Q. I have another form of security on my loan, including assets outside of the UK, Guernsey, Jersey and the Isle of Man - how will it be affected by the transfer?A. After the transfer, all references to LBIL in any other security documentation should be read as references to LBCM. This means, any obligation owed by the grantor of any such security will be owed to LBCM not LBIL. The other terms and conditions in the security will stay the same. If you are required to sign additional legal documents to enable the transfer of your security arrangements, we will contact you before or following the transfer.
Q. I have an account with third party security– will I see any changes?A. We may be in touch with you to confirm the transfer has been completed or if any further action is required. Additionally, where we are under an obligation to do so, we may be in touch with associated third parties to advise of the transfer.
Q. What happens if I apply for a new account or have recently made an application?A. There are no changes to the way you can apply for a new account. Any new applications in Guernsey will continue to be processed by LBIL up until 2 December 2019. If the scheme is approved, your new account and any related contracts and services in Guernsey will be included in the transfer to LBCM trading as Lloyds Bank International on 2 December 2019.
Q. My account is currently blocked as I need to provide some documentation. Will the block remain in place after the transfer?A. Yes. Your blocked account will be transferred to LBCM. Once you have provided your documentation, the block will be removed.
Q. How safe are my deposits with LBCM?A. LBCM is a core part of the Lloyds Banking Group, one of the largest banking groups in the UK. LBCM has an A rating from Fitch, an A1 rating from Moody’s and an A rating from Standard & Poor’s, all with a positive outlook. These ratings are correct at October 2019. Ratings may change over time.
Q. I’m a shareholder of a Lloyds Offshore Funds range, will it be affected?A. No – your shareholdings are not affected by this change.
© Copyright 2019 Lloyds Bank International
Lloyds Bank International Limited, a Jersey registered and regulated bank, is a subsidiary of Lloyds Bank Corporate Markets
plc, a UK Non-ring-fenced Bank. Both companies are part of Lloyds Banking Group plc and are independent from Lloyds
Bank plc which is Lloyds Banking Group’s ring-fenced, UK regulated retail and commercial bank. For more information on
ring-fencing visit international.lloydsbank.com/ringfencing
Our products and services are offered by Lloyds Bank International Limited & Lloyds Investment Fund Managers Limited.
See company Information. Whilst our services will be available to many customers, there are countries where, due to legal
or regulatory restraints, we cannot provide them.
Rules and regulations made under the UK Financial Services and Markets Act 2000 for the protection of depositors and
investors, including the Financial Services Compensation Scheme, do not apply to the financial services business of
companies within the Lloyds Banking Group carried out from offices outside of the United Kingdom.
Lloyds Bank International Limited. Registered office and principal place of business: 11-12 Esplanade, St Helier, Jersey, JE2
3QA. Lloyds Bank International Limited is incorporated in Jersey No. 4029 and is regulated by the Jersey Financial Services
Commission to carry on deposit-taking business under the Banking Business (Jersey) Law 1991 and investment and general
insurance mediation business under the Financial Services (Jersey) Law 1998. Lloyds Bank International Limited subscribes
to the Jersey Code of Practice for Consumer Lending and has also notified the Jersey Financial Services Commission that it
carries on money service business.
The Guernsey branch of Lloyds Bank International Limited, principal place of business PO Box 136, Sarnia House, Le
Truchot, St Peter Port, Guernsey, GY1 4EN, is licensed by the Guernsey Financial Services Commission to take deposits and
to carry on controlled investment business and insurance intermediary business under The Banking Supervision (Bailiwick
of Guernsey) Law, 1994, The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) and The Insurance
Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002 (as amended), respectively, and is also
registered with the Guernsey Financial Services Commission as a money service provider.
The Isle of Man branch of Lloyds Bank International Limited of PO Box 111, Peveril Buildings, Peveril Square, Douglas, Isle
of Man IM99 1JJ is licensed by the Isle of Man Financial Services Authority to conduct deposit-taking and investment
business and is also registered as an insurance intermediary in respect of general business.
Lloyds Bank International Limited is a Jersey registered company that is a wholly owned subsidiary of Lloyds Bank
Corporate Markets plc. Lloyds Bank Corporate Markets plc is incorporated in the United Kingdom, is authorised by the
Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
under number 763256, and is part of the Lloyds Banking Group. Lloyds Bank International Limited places funds with Lloyds
Bank Corporate Markets plc and thus its financial standing is linked to that of the group. Depositors may wish to form their
own view on the financial standing of Lloyds Bank International Limited and its parent based upon publicly available
information. Download Lloyds Bank International Limited’s latest annual financial statements
Lloyds Investment Fund Managers Limited. Registered office: 11-12 Esplanade, St Helier, Jersey, JE2 3QA. Authorised by the
Jersey Financial Services Commission under the Collective Investment Funds (Jersey) Law 1988.