Non-UK Residents

The following is a list of frequently asked questions for customers saving outside the UK.

People who reside outside the UK (including the Isle of Man and the Channel Islands) are regarded as non-UK residents.

  • 1.
    Does Bank of Scotland offer savings accounts to customers living outside the UK?

    No, however Lloyds Banking Group offers international banking services, including a range of savings products, to overseas customers through Lloyds Bank Corporate Markets plc.

    This company is not required to be authorised under the Financial Services and Markets Act 2000 of the United Kingdom and therefore is not subject to the rules and regulations of the Financial Services Compensation Scheme made under that Act for the protection of depositors and investors.

    These products and services are available in many countries but not all, due to legal or regulatory constraints, and are also subject to other eligibility criteria. For more information, visit Lloyds Bank International Banking.

    Back to top
  • 2.
    What is your definition of a non-UK resident?

    People who reside outside the UK (including the Isle of Man and the Channel Islands) are regarded as non-UK residents.

    Back to top
  • 3.
    I am in the British Armed Forces posted overseas, am I a non-UK resident?

    No. Crown Employees, e.g. British Armed Forces and UK Public Officials posted abroad, are defined as living in the UK.

    Back to top
  • 4.
    Why can’t a non-UK resident apply for a new savings account with you?

    Whilst we value the relationships we have built, we have made a strategic decision to focus our attention and resources mainly in the UK and to reduce the number of countries in which we operate. Among the considerations for that strategic decision are the varied legal and regulatory requirements that apply in each overseas jurisdiction.

    Back to top
  • 5.
    I have a fixed term account. Can I switch products during the current term?

    No. By changing to another product you would be taking out a new savings account. We only offer new savings accounts to UK residents.

    Early closure of your fixed term account may result in loss of interest in line with the conditions of your account.

    Back to top
  • 6.
    What happens if I open a new account or switch products?

    As this falls outside our policy for customers living outside the UK, we will close the account and return any balance to you by sterling cheque.

    Back to top
  • 7.
    What are my options when my savings account matures?

    When your savings account matures, you cannot renew your existing account. You can continue to save in the post-maturity product or move the money to another account that you already have with us.

    Before your account matures you’ll receive a maturity notification letter which will outline your options.

    Back to top
  • 8.
    I currently have a variable rate account. Can I change to another product?

    No. By changing to another product you would be taking out a new savings account. We only offer new savings accounts to UK residents.

    Back to top
  • 9.
    Can I make withdrawals from my variable savings account?

    Yes. In line with any conditions that apply.

    Back to top
  • 10.
    Can I make deposits to my variable savings account?

    Deposits are not permitted to Fixed Term Deposits and ISAs but are permitted for all other savings accounts (including Junior ISAs). All deposits are subject to the account conditions.

    Back to top
  • 11.
    I have an ISA. Can I make transfers to another current or savings account?

    Yes, if you have a variable cash ISA you can make transfers to another current or savings account held with us as long as that is allowed by the conditions of the account.

    Back to top
  • 12.
    As a non-UK resident, what impact does this have on children’s savings accounts?

    The impacts for children’s savings accounts are the same as for any other, with the exception of the Junior ISA account where an adult ISA may be opened when the child turns 18.

    Back to top
  • 13.
    My savings account has been closed but I don't know why?

    As you live outside the UK, this affects the way you can use your savings account. If you have opened a new savings account, transferred any existing savings accounts/term deposits to a new savings account, or changed the existing term or amount invested (other than by interest accrued) of a fixed term deposit at maturity, your account will have been closed and any balance returned to you by sterling cheque. A confirmation letter will have been sent to your address.

    If you have not received the letter, please call us. We can arrange for it to be re-issued.

    Back to top
  • 14.
    I have more than one savings account. Will you be closing the others?

    Only new savings accounts will be closed.

    Back to top
  • 15.
    As a non-UK resident, what correspondence will be sent to my overseas address?

    You will continue to receive all correspondence (e.g. statements, notification letters, interest certificates, and cards), provided your overseas address is registered as your primary address with us.

    Back to top
  • 16.
    My personal details are incorrect. How do I get them updated?

    The simplest way to change your address is using our app.

    Take a look at our guide to find out how to change your address.

    Back to top
  • 17.
    If I have any further questions how can I get in touch?

    You can call us if you have any further questions or would like to find out more about saving with us whilst overseas.

    Back to top