# Lloyds Bank International: Island Business Banking

> Island business banking from Lloyds Bank Corporate Markets plc in Jersey, Guernsey and the Isle of Man: a sterling current account for companies registered and operating in the islands, with USD and EUR accounts, Faster Payments, CHAPS, Bacs and SEPA. £8.50 a month for businesses with turnover up to £25 million; new-to-bank businesses under £3 million turnover apply online.

Finzil profile: https://finzil.com/providers/lloyds-bank-international · Provider website: https://lloydsbank.com/islands · Facts checked: 2026-10-21

## Key facts

- **Monthly fee:** £8.50 (Up to £25 million turnover; £20 above)
- **Currencies:** 3 (GBP, USD, EUR)
- **Onboarding:** 3–5 days (typical)
- **Provider type:** Bank (branches in Jersey, Guernsey and the Isle of Man)
- **IBAN:** UK sort code and account number; no IBAN named
- **Payment rails:** Faster Payments, CHAPS, Bacs, SEPA
- **Cards:** Physical debit card
- **Safeguarding:** Island deposit compensation schemes
- **Remote opening:** Yes
- **Headquarters:** United Kingdom
- **Currency codes:** GBP, USD, EUR

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Not published
- **Countries of incorporation accepted:** Jersey, Guernsey, Isle of Man (only these)
- **Countries of incorporation refused:** Not published
- **Owner residency accepted:** Not published
- **Owner residency refused:** Not published
- **Owner nationality refused:** Not published
- **Company types accepted:** Island companies, Charities, clubs and community organisations (Island Charity and Community Accounts), Businesses holding client money (Island Clients Account)

## Industries

- **Industries served:** Startups and SMEs, Financial institutions, NGOs and charities, Professional services
- **Prohibited industries (provider's own list):** Not published
- **Permitted industries (provider's own list):** Small and medium-sized businesses with turnover of £3 million to £25 million; Corporates above £25 million; Financial institutions and service providers (trust and company administrators, funds); Commercial real estate; Charities, clubs and community organisations (Island Charity and Community Accounts); Businesses holding client money (Island Clients Account)

## Licences

- United Kingdom: Prudential Regulation Authority and Financial Conduct Authority, Bank, Lloyds Bank Corporate Markets plc, register no. 763256
- Jersey: Jersey Financial Services Commission, Bank (deposit-taking), Lloyds Bank Corporate Markets plc
- Guernsey: Guernsey Financial Services Commission, Bank (deposit-taking), Lloyds Bank Corporate Markets plc
- Isle of Man: Isle of Man Financial Services Authority, Bank (deposit-taking), Lloyds Bank Corporate Markets plc

Safeguarding: Deposits at the island branches are covered by the local schemes: Jersey Bank Depositors Compensation Scheme and Guernsey Banking Deposit Compensation Scheme (up to £50,000 each) and the Isle of Man scheme.

## Fees

Source: https://www.lloydsbank.com/assets/islands-commercial/pdf/business-banking-charges-guide.pdf (checked 2026-10-21)

### Plans

- **Island Business Banking Account:** 8.5 GBP a month (Turnover up to £25 million)
- **Island Business Extra Account:** 20 GBP a month (Turnover over £25 million)

### Incoming

- Faster Payments (GBP): Free
- SWIFT / international: £7 · Payments received from abroad; £2 if £100 or less

### Outgoing

- SEPA: 0.25%, min £16 · Maximum £40
- Faster Payments (GBP): £0.2 · Each electronic payment after the first 100 a month
- CHAPS (GBP): £25
- SWIFT / international: 0.25%, min £13 · Standard International Moneymover; maximum £40 (Express: minimum £19, maximum £46)

### Currency exchange (FX)

- FX markup: 2.7% · Indicative margin for balances below £25,000; 2.00% from £25,000, 1.20% from £50,000, 1.00% from £100,000, 0.75% from £150,000, 0.50% from £500,000, 0.20% from £750,000

### Cards

- Card FX: 2.75% · Non-sterling card transactions

## Opening an account

Opening an account typically takes three to five business days.

1. **Pre-scoping.** Give high-level detail on ownership and the purpose of the account so the bank can decide if it has the risk appetite.
2. **Application.** Complete the account forms on the bank's KYC360 portal.
3. **Due diligence.** The onboarding team reviews source of wealth and the structure.
4. **Account live.** Once approved the account is opened; larger businesses contact the bank directly.

Documents: Not published

## Pros and cons

- Pro: Part of Lloyds Banking Group, with branches and relationship managers in the islands
- Pro: A sterling current account with USD and EUR accounts
- Pro: £8.50 a month up to £25 million turnover
- Pro: Faster Payments credits are free; 100 electronic payments a month are free
- Pro: New-to-bank businesses under £3 million turnover can apply online
- Con: Only for companies registered and operating in Jersey, Guernsey or the Isle of Man
- Con: International payments cost 0.25% (minimum £13) and payments received from abroad £7
- Con: FX margin 2.70% under £25,000 balance, falling with size
- Con: Prohibited industries, gambling stance and non-resident rules are not published
- Con: Foreign-currency balances use call accounts, not a multi-currency account

## Finzil's take (opinion)

Lloyds Bank International is the obvious bank for a Jersey, Guernsey or Isle of Man company wanting a mainstream sterling account with the Lloyds name behind it. It is not for companies registered elsewhere.

## Alternatives

- [NatWest International](https://finzil.com/providers/natwest-international): Bank · Jersey
- [HSBC UK](https://finzil.com/providers/hsbc-uk): Bank · UK
- [Allica Bank](https://finzil.com/providers/allica-bank): Bank · UK
- [Starling Bank](https://finzil.com/providers/starling-bank): Bank · UK

## FAQ

**Is Lloyds Bank International a bank?**

Yes. It is the island business of Lloyds Bank Corporate Markets plc (company number 10399850; PRA and FCA registration 763256), with branches in Jersey, Guernsey and the Isle of Man.

**How much does Island Business Banking cost?**

£8.50 a month for businesses with turnover up to £25 million and £20 above. Faster Payments credits are free, electronic payments cost £0.20 after the first 100 a month, CHAPS £25, and international payments 0.25% (minimum £13, maximum £40).

**Who can open an account?**

Companies registered and operating in Jersey, Guernsey or the Isle of Man. Businesses new to the bank with turnover under £3 million apply through the online portal.

**Does it offer foreign-currency accounts?**

Yes: USD and EUR accounts alongside the sterling account; foreign-currency balances use call accounts.

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