• Ring-fencing and Lloyds Bank International and Lloyds Bank (Gibraltar)

  • Following the financial crisis, UK legislation was passed to better protect customers and the day-to-day banking services they rely on. The new rules mean large UK banks must separate personal banking services provided in the UK and EEA, such as current and savings accounts, from risks in other parts of the business, like investment banking and personal banking activities provided outside the EEA. This is called “ring-fencing”.

    Banks are taking different approaches to how they are implementing these rules and are making changes now, to complete them by 1 January 2019.

    What ring-fencing means for Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited

    We’re setting up a new non-ring-fenced bank, Lloyds Bank Corporate Markets plc1 which will be separate to Lloyds Bank plc but still part of Lloyds Banking Group. Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited will be subsidiaries of Lloyds Bank Corporate Markets plc.

    We plan to make this change during July 2018 and will update these pages with the final date nearer the time.

    You will still be a Lloyds Bank International Limited or Lloyds Bank (Gibraltar) Limited customer

    We will continue to look after your accounts and services in the same way as we do today. Your account details and account features will stay the same and you can continue to use Internet Banking as you do today. There are no changes to your terms and conditions.

    We are updating our branding to reflect this change so you’ll start to see Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited feature as part of our logo on letters and brochures.

    If you are a Lloyds Bank International Limited customer and have a Sterling debit card, we’ll send you a new one between July and October 2018.

    Deposits will be protected as they are today

    We will continue to be regulated in the same way and any eligible deposits will continue to be protected as they are today. You can find more on our Depositor Compensation Schemes page.

    Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited will still be managed by their own boards of directors.

    You can find out more about Lloyds Banking Group’s approach to ring-fencing on the Group’s website. Please check those pages for regular updates.

    If you have accounts in the UK we will have contacted you separately about ring-fencing.

    Be extra vigilant about fraud

    Although the majority of our customers will see no changes, other banks will be making changes related to ring-fencing. During this period of change in UK banking, you should be extra vigilant about fraud.

    Don’t assume that letters, phone calls, emails and text messages are genuine even if the person knows information about you.

    Don’t feel pressured into making a decision or acting quickly. A genuine bank or organisation won’t mind waiting if you want time to think.

    If you receive instructions about a change in bank details from companies you make regular payments to, you should contact them on a number you normally use to check these are genuine.

    At Lloyds Bank we’ll never call you and ask you to:

    • Share any Online Banking, Internet Banking account details like username, user ID, password and memorable information.
    • Tell us your Personal Security Number (PSN) or other password for Telephone Banking.
    • Tell us any PIN codes, expiry date, CVV number (the last 3 digits of the security code on the back of any card you may hold).
    • Move money to a so-called secure, safe, holding or savings account.
    • Move your money or ask you to transfer funds to a new sort code and account number that we provide.

    For more information on how to stay secure online, visit our security pages which include details of our online and mobile banking guarantee.

    If you have accounts with other banks

    If you have accounts with other banks, they will tell you if your accounts are affected by the changes they are making. If you have any questions you should contact the relevant bank directly.

    1 Lloyds Bank Corporate Markets plc is the business name for Lloyds Banking Group’s new Non-Ring-Fenced Bank. Lloyds Bank Corporate Markets plc was authorised with restrictions on 25 July 2017, and is now included on the Financial Services Register (Reference number: 763256). Until the restrictions are removed by the Prudential Regulation Authority (PRA), Lloyds Bank Corporate Markets plc is limited in its ability to undertake or have migrated to it any regulated financial services activities.

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 International services are offered by Lloyds Bank International Limited, Lloyds Bank (Gibraltar) 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 paid up capital and reserves of Lloyds Bank International Limited was £986m as at 31st December 2017.

Lloyds Bank International Limited is a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. Eligible deposits are deposits held by private individuals and charities. Depositor protection does not extend to corporations, small to medium sized enterprises, partnerships and trusts. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website www.gov.je/dcs or on request.

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.

Lloyds Bank International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme’s website: www.dcs.gg or on request from Telephone: +44 (0) 1481 706359 or Post: P.O. Box 53, 1 Smith Street, St Peter Port, GY1 4BD.

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 participant in the Isle of Man Depositors’ Compensation Scheme as set out in the Depositors’ Compensation Scheme Regulations 2010.

Lloyds Bank (Gibraltar) Limited. Registered office and principal place of business: Royal Ocean Plaza, Ocean Village, Gibraltar, GX11 1AA. Registered in Gibraltar, no 99982. Regulated and authorised by the Gibraltar Financial Services Commission for the conduct of banking, investment and insurance mediation business. Lloyds Bank (Gibraltar) Limited is a participant in the Gibraltar Deposit Guarantee Scheme and a participant in the Gibraltar Investor Compensation Scheme. Details of the schemes are available on request.

Please note that, in relation to banking services which we provide, you might not be eligible for compensation under a deposit protection guarantee scheme available in your country of residence. If in doubt, contact your local banking regulator, visit their website or seek independent advice.

Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited are wholly owned subsidiaries 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 and Lloyds Bank (Gibraltar) Limited place funds with Lloyds Bank Corporate Markets plc and thus their 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 Lloyds Bank (Gibraltar) Limited and their parent based upon publicly available information. Download Lloyds Bank International Limited’s latest annual financial statements. Lloyds Bank (Gibraltar) Limited’s latest annual financial statements are available through Companies’ House in Gibraltar at www.companieshouse.gi.

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.

View our information on how to complain.

Legislation or regulations in your home jurisdiction may prohibit you from entering into such a transaction with us. We reserve the right to make final determination on whether you are eligible for any products or services. Residents or Nationals of certain jurisdictions may be subject to exchange controls and should seek independent advice before entering into any transactions with us.

Please note that, in relation to banking services which we provide, you might not be eligible for compensation under a deposit protection guarantee scheme available in your country of residence. If in doubt, contact your local banking regulator, visit their website or seek independent advice.