• Island Future Account

    An easy-to-access current account for young adults aged 11-17 living in the Channel Islands or Isle of Man.

    • Apply for a Cashpoint® card to withdraw funds from cash machines.
    Contact us
  • Features & benefits

    If you have children aged between 11 and 17 who are looking for a bank account that's flexible and easy to use, then our Island Future account is ideal. Your child can pay in and take out money whenever they want at their local branch and apply for a Lloyds Bank Cashpoint® card so that they can withdraw money from our cash machines.

    • You can apply for a Cashpoint ® card to withdraw funds from Cash machines with a unique PIN (Personal Identification Number).
    • Interest Rate is variable.
    • Interest calculated on your balance daily and paid into your account twice a year without tax being deducted.
    • Cashpoint ® cards can be used at any machine showing the LINK badge and can be used to print mini-statements from some of our Cashpoint ® machines.
    • At age 16, standing orders and direct debits can be set up free of charge.
    • At age 16 you can apply for a Debit card to purchase goods in many shops.
    • Simple transfer of savings into a new account when you are aged 19 and either working or going into higher education.
  • Eligibility

    If you are a personal customer aged between 11 and 17 resident in the Channel Islands or Isle of Man you can open an Island Future Account.

  • Island Future Account interest rates

    Current interest rates

    Interest rates are correct as at 08 December 2016

    Interest on credit balances (paid half yearly) % Per annum gross rate* % Per annum AER/Variable**
    £1+ 0.05 0.05

    Previous interest rates

    Interest rate from 01 April 2009

    Interest on credit balances (paid half yearly) % Per annum gross rate* % Per annum AER/Variable**
    £1+ 0.10 0.10

    Interest rate from 02 March 2009

    Interest on credit balances (paid half yearly) % Per annum gross rate* % Per annum AER/Variable**
    £1+ 0.15 0.15

    *GROSS RATE: The contractual rate of interest payable before deduction of income tax at the rate specified by law.

    **AER rate stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

  • Charges & fees

    Avoiding overdraft charges.

    If your account goes over its limit you have until 3.30pm (UK time) to pay in money to avoid Returned Item Fees and ensure the payment goes out, but you have until midnight to avoid any overdraft fees and interest.

    • If you pay in enough to clear your overdraft you will not pay any fees or interest.
    • If you only clear an Unplanned Overdraft you will still pay a Monthly Overdraft Usage Fee.

    The money needs to be immediately available to use, so you could transfer money from another personal account you have with us via Internet Banking or Telephone Banking or pay in cash over the counter in branch.

    Overdraft fees

    We will charge you the following fees for all overdrafts, whether Planned Overdrafts or Unplanned Overdrafts:

    Overdraft amount. Fee.
    Up to £10. No fee.
    Above £10. £5 monthly fee.
    Only payable if you're overdrawn by more than £10 or your agreed overdraft limit.

    We will not charge you any other fees for a Planned Overdraft but you will normally be charged interest on the amount borrowed.

    Unplanned overdraft

    If we agree to your request for an Unplanned Overdraft, we will charge you the following fees:

    Fee. Amount. Description.
    Daily Fee. Unplanned Overdraft balance is You will pay a daily fee for using an Unplanned Overdraft. The amount of the fee will be worked out at the end of each day (including weekends and bank holidays) on the balance of your Unplanned Overdraft.

    We will charge you a maximum of eight daily fees in a monthly billing period.
    £10 or less. £0 (Buffer applies).
    More then £10 but less then £25. £5 a day.
    £25 or more. £10 a day.

    Returned item

    Where you do not have enough available money to make a payment and we do not agree to give you or extend an Unplanned Overdraft, you will not be able to make that payment.

    We will write to tell you we have declined your request. We will charge you the following fee:

    Returned item Fee.
    £10 for each item. We will charge you up to a maximum of three Returned Item Fees a day. This fee will not be charged if the amount of the payment that we decline is £10 or less.

    Using other services*

    Stopped cheque. Free.
    Special cheque presentation. £15.
    Returned cheque.
    If a cheque paid into your account is returned to us unpaid by another bank or branch. Free.
    Statements
    We will send you regular account statements free of charge. Free.
    If you order an extra statement at a Lloyds Bank Cashpoint. Free.
    Duplicate statements. £5 per request.
    Banker's draft (sterling). £15.
    Holding envelopes and parcels. This service is no longer available. Existing users please contact the branch.

    01534 845436 or 01534 845269 Jersey
    01481 706317 Guernsey
    01624 697113 Isle of Man
    01481 822340 Alderney
    When we buy from you Sterling American Express or other currency travellers cheques which you bought from us. Free.
    When we buy travellers cheques or foreign currency from you. 1.5%(min £3).
    If you have a Premier or Executive Gold Debit Card. Free.
    If you have a Student or Graduate account. Free.
    When you buy travellers cheques or foreign currency using a Lloyds Bank Premier, Platinum, Gold or Classic Credit Card. Free.

    * Please note the information in this section applies to customers with sterling accounts only. Please contact us if you have a Euro account or US dollar account.

    ** An administration charge may be made for excessive requests.

    *** Charges include VAT where applicable.

    Cashpoint® and debit card charges*

    When you take out cash.
    From Lloyds Bank Cashpoint. Free.
    LINK machines.
    All LINK machines will give you an advance, on-screen warning about any charges that may apply. This warning will tell you who’s making the charge. You will then be given the option to continue or cancel the transaction.
    Lloyds Bank does not levy a charge but the owner of the machine may.
    From non-LINK cash machines in the British Isles and worldwide displaying the Visa sign, or over the counter at another bank or any other outlet displaying the Visa sign. Using your Lloyds debit card or Cashpoint® card
    If you use your card to withdraw cash or make a payment in a currency other than sterling, the amount is converted to sterling on the day it is processed by Visa using the Visa Payment Scheme exchange rate on the day. We will charge you a non-sterling transaction fee of 2.99% of the value of the transaction and we will also charge you a non-sterling cash fee of £1.50. Where you elect to allow the cash machine operator/financial service provider to make the conversion to sterling we will only charge a foreign cash fee of £1.50. The provider of the foreign currency may make a separate charge for conversion.
    When you use your card to buy foreign currency or travellers cheques.
    From our branches. No handling charge.
    From any other bank, travel agent, bureau de change or other outlet displaying the Visa sign within the UK, Channel lslands and Isle of Man. Using your Lloyds debit card or Cashpoint® card
    Lloyds bank does not make a charge but the provider of the foreign currency or travellers cheques may make a charge.
    All transactions abroad.
    Cash withdrawals and purchases made in a currency other than sterling (including those made online or on the phone) are also subject to: Non-sterling transaction fee of 2.99% of the value of the transaction.
    Mini statements. Free.
    Requesting a receipt. Free.

    * Please note the information in this section applies to customers with sterling accounts only. Please contact us if you have a Euro account or US dollar account.

    Administration fees

    We’ll be happy to respond when you ask us for help with managing your day-to-day banking – at no charge.

    But, if we have to spend a significant amount of time on a specific area, then, like professional advisers, we may charge a fee. If this seems likely, we will agree it with you before you are committed.

  • What is the minimum opening balance?

    There is no minimum opening balance for the Island Future Account.

    How much can I deposit in an Island Future Account?

    That's completely down to you. There's no limit on how much you can hold in your account.

    What currency can I open an Island Future Account in?

    The Island Future Account is available in Sterling only.

    How much access do I have to my money?

    You can access your money whenever you need to either in branch, over the phone using PhoneBank or Internet Banking. If you're withdrawing cash from an ATM, there is, however, a daily limit.

    When is interest paid on the Island Future Account?

    Interest is paid twice a year on 9th of June and 9th December.

    Who can I speak to if I need extra information?

    For Jersey residents please call 01534 845155, Isle of Man residents 01624 638279, Guernsey residents 01481 706347 or Alderney residents 01481 822340.

  • How to apply:

    pin

    Visit us in branch

    Visit us in branch to open an account.

    If you are a new customer, make sure you bring ID such as your original passport or driving licence, as well as proof of your address.

    Find a branch

    telephone

    Call us

    • 01534 845436 or 01534 845269  Jersey
    • 01481 706317  Guernsey
    • 01624 638279  Isle of Man
    • 01481 822340  Alderney

    Lines are open 24 hours a day, 365 days a year.

    To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored.