• The transfer process for accounts held in Jersey and the Isle of Man

    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 Jersey transfer sample letter and guide (PDF)

    View the Isle of Man transfer sample letter and guide (PDF)

    View the Investment Portfolio sample letter and guide (PDF)

    View the Jersey transfer newspaper notice (PDF)

    View the Isle of Man transfer newspaper notice (PDF)

  • Your accounts and services will stay the same

    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.

    There’s no change to how your eligible deposits are protected

    Any eligible deposits you have with us in Jersey will still be protected by the Jersey Bank Depositors Compensation Scheme. You can find more information on the compensation schemes’ website.

    Any eligible deposits you have with us in the Isle of Man will still be protected by the Isle of Man Depositors Compensation Scheme. You can find more information on the compensation schemes’ website.

    How the transfer will happen

    The transfer must be approved by the Royal Court of Jersey and the High Court of Justice of the Isle of Man. Court hearings are due to take place at 9.00am on 20 November 2019 in Jersey and at 10.00am on 25 November 2019 in the Isle of Man.

    Each court will only approve the transfer if it is satisfied that the transfer as a whole is fair and meets the relevant legal requirements. The courts will take into account the views of the local regulator and the independent auditor and will also consider objections raised by anyone who believes they may be adversely affected by the transfer.

    If both courts give their approval, your accounts will be transferred on 2 December 2019.

    How to make your views known

    You don’t need to do anything and your accounts will be transferred automatically, but if you believe that you will be adversely affected by the transfer you are entitled to be heard by:

    • If you have accounts held in Jersey: The Royal Court of Jersey at: Royal Court House, Royal Square, St Helier Jersey, JE1 1JG at 9.00am on 20 November 2019.
    • If you have accounts held in the Isle of Man: The High Court of Justice of the Isle of Man at: Deemsters Walk, Bucks Road, Isle of Man, IM1 3AR at 10.00am on 25 November 2019.

    You can attend the court hearing in person or be represented by a legal representative at your own cost. If you plan to object at the court hearing, we recommend that you contact us first on the number at the top of this page. Or you can write to us at least five working days before the court hearing to: Customer Relations, Peveril Buildings, Peveril Square, Douglas, Isle of Man, IM99 1SS. Your letter should include your reasons for objecting and why you think that you will be adversely affected.

    If you do not wish to attend the hearing, you can also write to us with your reasons for objecting to the transfer. Please send your letter to the address above at least five days before the court hearing.

    For a copy of the full scheme document, auditor’s report and summary of the scheme relating to the transfer. You can:

    Additional questions you may have

    The day to day running of my accounts

    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.

    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 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 Guernsey – will I see any changes?
    A. Please go to our dedicated page for Guernsey customers


    Accessing information about my accounts

    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.


    Rights of set off, guarantors and other security

    Q. After the transfer, will you apply rights of set-off between debts I have with LBIL and money I have deposited with LBCM, or vice versa?
    A. Rights of set-off allow a bank to use money you have deposited in current or savings accounts against a debt you have with the same bank, such as a loan, mortgage, overdraft or credit card, if you fall behind on your debt repayments.

    After the transfer, and for at least one year after the transfer date, we will only apply rights of set-off within the brand your accounts are held with. This means, if you fall behind on debt repayments in respect of a Lloyds Bank International debt, we will not use money you have deposited with LBCM to reduce or repay your debt, and vice versa.

    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.


    Applying for new accounts

    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 Jersey and the Isle of Man 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 Jersey and the Isle of Man 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.


    Deposits, protection and shareholdings

    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.