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					 Money Market Accounts




As long
 as you
choose




         Money Market Accounts 1
A choice of
accounts for you
 We offer three main types of deposit accounts which are described in the following
 pages.

 Fixed Term Deposit Accounts
 Suitable for savings you can afford to leave for a fixed term.

 Call Accounts
 Call (ready access) accounts are suitable for savings you may need to withdraw in
 a hurry.

 Offshore Limited Edition Deposits (OLEDs)
 We provide these special limited offer and availability deposits that give the opportunity
 for a higher return than the more conventional deposits mentioned above. They have in
 the past included returns linked to Stock Markets, Foreign Exchange Markets and
 Interest Rates.




 Please remember that you remain responsible for declaring interest payments to
 your relevant tax authority.




                                                                           Money Market Accounts 1
  The best account
  for your money
               We all want our money to earn interest when we’re not using it.

               But we all have different needs. At Lloyds TSB, we have developed a range of deposits
               linked to the London Money Market that are designed to meet your requirements.

               You may not want to see your savings tied up for long periods of time, yet you still want
               to earn a competitive rate of interest.

               We offer two options:
               • A fixed term deposit account - we agree the interest rate with you in advance and
                 this rate is fixed for the whole period of your investment.
               • A call account - the interest rate is not fixed, but neither is the investment period;
                 you receive interest at a rate that is linked to the money markets. Please note that,
                 from time to time, where interest rates in a country are particularly low, we may be
                 unable to pay interest on accounts in the currency of that country.




2 Money Market Accounts
The best money
for your account
 It isn’t just the interest you earn that is important, it is also the currency in which you
 earn it.

 We acknowledge that many of you will require your investment in a currency other
 than sterling.

 No problem!

 Simply tell us your requirements and we will do our best to meet them.

 We currently offer accounts in all of the major currencies and are more than happy to
 consider requests for accounts in other currencies as well.

 Your Fixed Term or Call Account does not have to be in sterling - you choose the
 currency and we will do our best to provide it.




                                                                             Money Market Accounts 3
  Fixed term
  deposit accounts
               • You tell us how much you are prepared to invest and for how long.
               • We confirm with you the rate of interest that your savings will earn.
               • We will fix that rate for the period of your investment.
               • You agree not to withdraw the funds before the end of your chosen
                 investment period.




4 Money Market Accounts
Choose how
much to invest
 A minimum deposit of £10,000 or £25,000 is required depending on which account
 you select.

 Sterling Accounts
 • £10,000 for periods of 3 months to 3 years.
 • £25,000 for periods of less than 3 months.

 Currency Accounts
 • Currency equivalent of £10,000 (approximately) for periods of 1 month to 1 year.
   Periods greater than 1 year may be available upon request but the minimum balance
   requirement will be considerably higher.
 Generally, the more you deposit the higher the interest rate your money will attract.
 Please see our interest rate sheet in the back of this brochure for details.

 The period of your investment
 We offer a full range of investment periods ranging from a week up to several years.
 The application form enclosed with this brochure provides further details of our current
 range; however, if you cannot find what you are looking for, please give us a call to
 discuss your requirements - we aim to be flexible. The period will generally depend on
 the amount you have to invest.

 When your interest is paid
 Interest is normally paid at the end of the agreed investment period. However, for
 Sterling Deposits of 6 months, 1, 2, and 3 years interest can be paid at alternative
 times (for example, annually for a 3 year deposit) to suit your personal requirements.
 Please contact us for further details.

 The currency of your account
 You can choose from all of the major currencies and we are happy to consider
 requests for accounts in most other currencies as well. Holding a currency
 account can be a way, if you are living overseas, to ease the effects of exchange
 rate fluctuations. It might also prove more convenient to hold an account in the
 currency in which you are being paid.




                                                                          Money Market Accounts 5
  The end of the
  agreed term
               There are two options available to you upon maturity of your investment:

               Option 1
               Re-invest your savings and the interest they have earned.
               This we will happily do automatically or you can select this option on the application
               form. Your savings and the earned interest will simply be re-invested for the same term
               at the rate applicable on the renewal day. We will confirm this to you by sending you a
               statement, stating the full maturity value, reinvestment term and relevant interest rate.

               If you wish to use this opportunity to add more funds to your account, please let
               us know.

               Option 2
               Withdraw some or all of your savings and earned interest.
               If you choose this option, you need to mark this on the application form or give us your
               instructions shortly before the end of the term. For sterling accounts this means before
               noon on the day of maturity. For accounts in other currencies we ask for notice by noon
               (UK time) two working days before the day of maturity.

               If you are withdrawing some of your original deposit you must ensure that those
               funds remaining meet the minimum requirements for your particular account.




6 Money Market Accounts
Important points

 • It will be your responsibility to declare interest payments to your relevant tax
   authorities, which may result in a tax liability.
 • Whilst interest rates around the world are constantly changing, our range of fixed
   term deposit accounts offers you a rate of interest which is fixed for the period of
   investment that you choose. We have provided a guide to the rates available with
   this brochure - you should be aware, however, that these rates are only applicable at
   the date and the time shown. For up-to-date rate information please either
   telephone us direct or use our faxback service referred to on page 16.
 • You will not normally be able to withdraw funds from your fixed term deposit until
   maturity. However, in cases of extreme need, please contact us.
 • We are happy to provide specific rate quotations for deposits of £250,000 or more
   (or the equivalent in another currency).
 • We make no specific account charges. However, in certain circumstances a charge
   will be made for a transfer of funds. Transfers to an offshore account in your name
   with Lloyds TSB are free. If you wish to transfer funds to a ‘third party’ (e.g. another
   bank or an account in another name), a charge will be made and we can only make
   such a transfer on receipt of original (not faxed) written instructions.




                                                                           Money Market Accounts 7
  Call accounts for
  ready access
               • You tell us how much you are prepared to invest.
               • You tell us the currency you require.
               • We provide you with confirmation of the interest rates currently being paid on that
                 amount and currency.




8 Money Market Accounts
Choose how
much to invest
 Our Money Market Call accounts are available in sterling, US Dollars and Euros.
 Minimum deposit amounts are £10,000, US$15,000 and €15,000 respectively.
 Interest is paid monthly and, generally, the more you invest the higher the interest
 rate your money will attract. For other currencies our standard currency call accounts
 are available, which require a minimum opening balance of the currency equivalent
 of £2,000.

 The currency of your account
 You can choose from all of the major currencies and we are happy to consider requests
 for accounts in most other currencies as well. Holding a currency account can be a
 way, if you are living overseas, to ease the effects of exchange rate fluctuations. It
 might also prove more convenient to hold an account in the currency in which you
 are being paid.

 For new customers who do not have the required minimum balance for a US Dollar or
 Euro Money Market Call account then the US Dollar and Euro Debit Card Accounts are
 available with a minimum balance requirement of US$2,000 or €2,000.




                                                                         Money Market Accounts 9
  Important points

              • It will be your responsibility to declare interest payments to your relevant tax
                authorities, which may result in a tax liability.
              • The interest rate paid on your call account is not fixed. It will fluctuate, although any
                rate changes will appear on your statement. An indication of the current rates
                available has been enclosed with this brochure - you should be aware, however, that
                these rates are only applicable at the date and time shown. For up-to-date
                information, please either telephone us direct or use our faxback service referred to
                later on.
              • You are able to make additions or withdrawals on your call account at any time.
              • We recommend that when making additional deposits this is completed by bank
                transfer. We will accept cheques, although for larger amounts we may not be able to
                credit your account immediately: it will be credited once we have received the
                money from the paying bank. This can take from a few days to over a month
                depending on the country involved and will incur increased charges. Any deposits to
                your account in a currency other than that in which the account is held will be
                converted at the prevailing exchange rate.
              • We make no specific account charges. However, in certain circumstances a charge
                will be made for a transfer of funds. Transfers to an offshore account in your name
                with Lloyds TSB are free. If you wish to transfer funds to a ‘third party’ (e.g. another
                bank or an account in another name), a charge will be made and we can only make
                such a transfer on receipt of original (not faxed) written instructions.
              • We are happy to provide specific rate quotations for deposits of £250,000 or more
                (or the equivalent in another currency).
              • Sterling, US Dollar, Canadian Dollar and Euro Call accounts offer instant access
                (provided instructions are received by 12.00 noon UK time); however, a call account
                in any other currency requires two days’ notice.




10 Money Market Accounts
Offshore Limited
Edition Deposits
 We are constantly looking for ways to improve the range of money market accounts
 that we are able to offer.

 As a result, new and exciting opportunities often become available but usually these
 can only be offered for a limited period.

 The potential for higher returns is often greater with an OLED than with the more
 conventional range of money market accounts. They are generally innovative and
 provide the private investor with opportunities normally available only to
 institutional investors.

 The usual minimum deposit is £10,000 (or currency equivalent). We do, however,
 welcome larger investments and can usually offer bespoke arrangements for amounts
 in excess of £1,000,000 (or currency equivalent).

 If you would like news of these OLEDs as and when they become available, then
 please contact us. If you are making an application for a fixed term or call account,
 simply complete the relevant section, and we will be happy to add your name to our
 mailing list.

 We are always interested in your ideas. If you can think of any opportunities that we
 may not have considered but which you feel are needed, please contact us and we will
 be delighted to discuss your idea with you.

 Series Deposits
 Throughout the year, special deposit offers will be available. These offers, called Series
 Deposits, will vary in their design and make-up in order to take advantage of favourable
 market conditions at the time.

 Details of current OLEDs and Series Deposit offers can be found on our website:
 www.treasury.lloydstsb-offshore.com.




                                                                          Money Market Accounts 11
  How to open
  your account
              Just complete the application form at the back of this brochure and send it to your
              local Island Lloyds TSB branch, Offshore Centre or one of the addresses shown on
              the form, with your cheque or details of how you intend to make your payment.

              Documentation required
              Our aim is to ensure that the account opening process is as simple as possible. To help
              guide you through, we have set out below the procedures and documentation
              necessary to open your Money Market Account. In order to comply with the Islands’
              anti-money laundering legislation and to help combat potential fraud, we are required
              to hold documentary confirmation of your identity and residential address.

              We are also required to obtain certain personal financial information, as requested in
              the application form. In addition we may also request further information regarding
              the source of any initial and/or subsequent transactions across the account.

              Please note we are unable to start processing your application until we have received
              the correct identity and address documentation and the application is correctly
              completed in full and signed by all applicants. Notwithstanding this, we reserve the
              right to not open an account or to refuse a deposit without giving a reason for doing so.




12 Money Market Accounts
3 Steps to open
an account
 1. Complete the Money Market Account application form:
 The form needs to be correctly completed in full and signed by all applicants in
 Section7.

 2. Provide confirmation of your identity:
 Passport – a clear black and white certified photocopy (see** below) of your current
 passport and those of any joint applicants. Your passport(s) must be valid (not out of
 date) and show your date and place of birth and signature. Your signature should be
 the same as that on your application form.

 3. Provide confirmation of your address:
 Utility bill – an original recent gas, telephone (not mobile), local authority rates or
 electricity bill, which shows your name and current residential address. For joint
 accounts we need a utility bill addressed to each party – either jointly or individually.
 The bill must have been issued within the last 3 months.




 **Certification of photocopy passports and all other documents
 All photocopies of documents must be certified by one of the following: an embassy, consulate or high
 commission of the country of issue of documentary evidence of identity, a member of the judiciary, a senior
 civil servant, or a serving police or customs officer; a lawyer or notary public, an actuary, an accountant
 holding a recognised professional qualification, or a director, officer or manager of a regulated financial
 services business operating in an equivalent jurisdiction.

 The certifier must certify that he or she has seen original documentation, and that the copy document
 provided (which he or she certifies) is a complete and accurate copy of that original. The certifier will also
 sign and date the copy document, printing his or her name clearly in capitals underneath, indicate his or
 her position or capacity, and contact address.

 If you have any questions or difficulties in providing any of the requested items, please contact us,
 we will be pleased to help you.




                                                                                           Money Market Accounts 13
  For your
  peace of mind
              Our range of Money Market Accounts is provided by Lloyds TSB Offshore Limited which
              is part of the Lloyds TSB Group, one of the world’s largest financial companies.

              When you make your application to open an account, we will write to you with
              confirmation just as soon as your application is accepted and cleared funds have been
              received. This confirmation will include details of the amount invested and your
              personal account number.

              Once the account is opened, please quote your account number in any
              correspondence or telephone conversation to ensure your queries or requests are
              dealt with efficiently and promptly.




14 Money Market Accounts
Other services
available
 We also offer the below services:

 Foreign exchange
 A full foreign exchange service is available should you need to convert from one
 currency to another on an inward or outward payment or to switch from a deposit in
 one currency to another. We will normally require the amount of currency to be
 converted to be held already in your account with us or in one of our accounts abroad
 before proceeding with the deal.

 International payments
 We can arrange for payment to be made to most parts of the world by a variety of
 different methods. Full details and current charges are provided in our separate leaflet,
 ‘Sending and Receiving Payments’.

 Please remember that should you want to send money to a third party we must be in
 receipt of original (not faxed) written instructions, before we can make the payment.

 Debit Card Accounts in US Dollars or Euros
 These are special accounts in US Dollars or Euros that pay tiered rates of interest but
 add the flexibility of a Visa Debit Card. This card provides world-wide access to your
 funds immediately through cash machines and, as a debit card, allows you to pay for
 goods and services anywhere. Interest is tiered and paid half-yearly on balances over
 US$2,000 (Dollar account) or €2,000 (Euro account), and we only require a
 US$2,000 (Dollar account) or €2,000 (Euro account) minimum opening deposit.
 You will then have complete freedom to add to or withdraw funds in the account as
 you please.

 Trade finance
 Our Jersey International office offers a Letter of Credit, Bank Guarantee and Documentary
 Collection service.




 If you require further details of these products, then please contact us.




                                                                          Money Market Accounts 15
  Fax back
              Information on rates and new products, including any OLED offers, is available
              through our easy-to-use faxback service.

              Using your fax machine, simply dial one of our numbers and an automated system will
              fax back the latest information to you by return.

              The numbers for this service are as follows:

              Jersey          +44 (0)1534 625109
              Guernsey        +44 (0)1481 706388
              Isle of Man     +44 (0)1624 638088

              This is an automated system and is not designed for the receipt of faxes. Please do not
              send faxes to these numbers.




16 Money Market Accounts
Here is your
 application
        form
Printed by Chartered Press Limited                                                                                 OB522 (January 2004)




JERSEY INTERNATIONAL OFFICE
Lloyds TSB Offshore Limited, PO Box 788, 25 New Street, St Helier, Jersey JE4 8ZE.
Tel: +44 (0) 1534 284157. Fax: +44 (0) 1534 284471

JERSEY TREASURY OFFICE
Lloyds TSB Offshore Limited, PO Box 351, 25 New Street, St. Helier, Jersey JE4 8RG.
Tel: +44 (0) 1534 284157. Fax: +44 (0) 1534 284471.

GUERNSEY TREASURY OFFICE
Lloyds TSB Offshore Limited, PO Box 123, Sarnia House, Le Truchot, St. Peter Port, Guernsey GY1 4EF.
Tel: +44 (0) 1481 716141. Fax: +44 (0) 1481 716181.

ISLE OF MAN TREASURY OFFICE
Lloyds TSB Offshore Limited, PO Box 351, Peveril Buildings, Peveril Square, Douglas, Isle of Man IM99 2RZ.
Tel: 0845 6015168 if calling from UK and 08702 402281 If calling from outside UK. Fax: (0) 1624 618677.

Lloyds TSB Offshore Limited: PO Box 160, 25 New Street, St Helier, Jersey JE4 8RG. Registered in Jersey, number 4029. Licensed by the
Jersey Financial Services Commission to conduct banking and investment business. Written details of our credit terms and copies of the
latest report and accounts are available upon request.

The Guernsey branch of Lloyds TSB Offshore Limited is licensed to conduct banking, investment and insurance business by the Guernsey
Financial Services Commission under the Banking Supervision (Bailiwick of Guernsey) Law 1994, the Protection of Investors (Bailiwick of
Guernsey) Law 1987 and the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law 2002.

The Isle of Man branch of Lloyds TSB Offshore Limited is licensed by the Financial Supervision Commission to conduct banking and
investment business.

Deposits made with the Isle of Man branch of Lloyds TSB Offshore Limited are covered by the Depositors Compensation Scheme contained
in the Banking Business (Compensation of Depositors) Regulation 1991.

All US Dollar and Euro Debit Card Accounts are held by the Jersey International office of Lloyds TSB Offshore Limited.

The Jersey International office of Lloyds TSB Offshore Limited is not part of the Isle of Man Depositors Compensation Scheme contained in
the Banking Business (Compensation of Depositors) Regulations 1991 and consequently any deposits placed with them are not covered by
this scheme.

Account Holders, depending upon their individual circumstances, may be liable to Income Tax in respect of Interest earned offshore. There is no
Jersey, Guernsey or Isle of Man tax liability if not resident on that Island. By virtue of the adoptions of the terms of the European Unions Savings
Tax Directive by the States of Jersey, States of Guernsey and the Isle of Man Government Lloyds TSB is obliged to deduct tax at source at the
published rate from all interest payments and other similar income, made to an individual beneficial owner resident in an EU Member State.

If you are within the scope of these provisions, you may elect for details of any payments of interest, or similar income, to you to be passed
to the tax authority of your place of residence. In this case no tax is deducted at source. This election must be made by you in writing.
Please advise us in writing if you want to take this option.

If you hold a passport issued by an EU member state and claim to be resident outside the EU you will be deemed to be resident in the
country that issued your passport unless you provide us with a certificate of residence from the Competent Authority of your country of
residence. The Competent Authority is generally viewed to be the tax authority, but other authorities that are competent to issue you with
a tax certificate will be appropriate. In the absence of such a certificate, withholding tax will be applied or, where authorisation is received
from you, all payments of interest to you will be reported to the authorities of the country that issued your passport.

The issue of a Debit Card is at the Bank’s discretion and you must be 18 or over to apply. Lloyds TSB Offshore Limited is a wholly-owned
subsidiary of Lloyds TSB Group plc whose registered office is Henry Duncan House, 120 George Street, Edinburgh EH2 4LH.

The products described in this brochure are not targeted at and are not available to residents and countries where their sale is not permitted
under relevant laws and regulations.

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

The Bank conducts its business in accordance with local legal and regulatory requirements, including anti-money laundering requirements
which require the Bank to disclose information that would otherwise be confidential in circumstances where the Bank suspects its customer
is benefiting or engaging in criminal activity including tax fraud.




                                                                                        www.treasury.lloydstsb-offshore.com

				
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