Lloyds TSB (which is part of Lloyds Banking Group plc and includes HBOS (Halifax Bank of Scotland) offers a basic personal UK bank account that provides a Visa debit card and most of the facilities available in their standard current account. It is designed for those who want a simple account or who may have a bad credit history and may not qualify for their Classic Account. Proof of ID and address is required. It is for individuals who are 18 and over.
What Lloyds TSB offers:
- A basic personal account for those resident in the UK.
- Most adverse credit accepted.
- Almost 1900 branches in the UK plus free account access at Post Offices.
- Lloyds TSB Visa debit card.
- Direct Debits and Standing Orders.
- Internet and PhoneBank (their telephone banking service).
- Mobile and branch banking.
- Deposit cash and cheques over the counter at any Lloyds TSB branch or UK Post Office free of charge.
- Withdraw cash from Lloyds TSB, Halifax and Bank of Scotland Cashpoint machines and Post Office branches free of charge. Balance enquiries are also available from Post Office branches.
- Monthly online and optional paper statements.
- Buffer zone of £10 which means it is possible to go overdrawn by up to £10 without incurring any penalty charges.
- The account has no charges when run properly.
- No overdrafts are available and there is no cheque book.
- No CIFAS fraud flags are allowed.
- No undischarged bankrupts.
- No longer accepting customers with an IVA.
- Withdrawing cash other than at a Lloyds TSB, Halifax or Bank of Scotland cash machine or branch may incur a fee.
- An ‘Unplanned Overdraft’ fee is payable should payment of a Direct Debit or Standing Order be presented without sufficient funds being available.
- Can’t withdraw cash abroad using the Lloyds TSB debit card.
The Visa debit card can be used worldwide for purchases only.
No interest is paid on the account.
Some of the fees for this Lloyds TSB basic account include:
Returned item fee £10 (max 3 items per day, no charge if declined amount is £10 or less).
Purchases abroad incur a fee of £1 plus 2.99% of the transaction value.
Special cheque presentation (express cleared) £10.
Banker’s draft or cheque in Sterling £20.
CHAPS payment £30.
Returned cheque Free.
Click on button below to go to Lloyds TSB Cash Account page.