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 who live outside the UK?

    No, however Lloyds Banking Group offers international banking services, including a range of savings products, to overseas customers through two subsidiaries - Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited.

    These companies are not required to be authorised under the Financial Services and Markets Act 2000 of the United Kingdom and therefore are 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.

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  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.

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  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.

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  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.

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  5. I currently have a fixed term account. Can I move to another savings product 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.

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  6. What will happen if I do open a new savings account with you or change to another product?

    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.

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  7. I currently have a fixed term account. What can I do when my savings account matures?

    When your savings account matures you can renew your existing account however you may not change your product (including interest frequency), increase the amount (other than by interest accrued at maturity), and you may only retain the existing term, otherwise this is considered as taking out a new savings account.

    Before your account matures you will receive a maturity notification letter which will outline your choices. Once you have made your decision, please contact us to provide your instructions by calling us on +44 (0) 131 337 7686 (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm – UK local time).

    If you do not provide your maturity instructions your funds will be treated in line with your current savings account conditions.

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  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.

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  9. Can I make withdrawals from my variable savings account?

    Yes. In line with any conditions that apply.

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  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.

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  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.

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  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.

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  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 on +44 (0) 131 337 7686 (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm - UK local time) and we can arrange for it to be re-issued.

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

    Only new savings accounts will be closed.

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  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.

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  16. My personal details are incorrect. How do I get them updated?

    If you need to update your details you can write to us, complete the change of address form and post it to Bank of Scotland, PO Box 548, Leeds LS1 1WU, call us on +44 (0) 131 337 7686 (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm - UK local time), or call into one of our branches if you are back in the UK; we recommend you book an appointment.

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  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.

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