BANKING THAT UNDERSTANDS THE SHARIAH WAY
STRONG
I S L A M I C ACCO U N T
Downtime. It’s a precious
commodity. So when you’re
rushing from A to B, looking
after X, Y and Z and juggling
a hundred and one things,
it’s good to know your current
account has it all covered.
Our Islamic account gives
you all the tools you need
to keep your finances on
track and in accordance
with Shariah law.
Contents
Account benefits 3
Shariah approved banking 4
My Lloyds Bank Visa debit card 5
Ways to bank 6
Travelling with your debit card 10
Travel money 11
Moving your money 12
Switching your account 15
Opening an account 16
I need an account that’s
right for me
Open a Lloyds Bank
Islamic Account today
•
You can be confident the money you keepwith us will not be used for any interest-based or non-Shariah approved activities.
•
It’s banking in accordance with Shariah, with no credit or debit interest, no Planned Overdraft, no minimum balance required and no charges for everyday transactions on your Islamic Account if you stay in credit.Please refer to our Banking Charges guide for details of charges for other bank services.
I’ve got everything
I need
Paying in money, paying
bills and withdrawing cash
With the Islamic Account you get a Lloyds Bank Visa debit card and a choice of ways to bank.
•
You won’t be charged for everyday transactions when you’re in credit. Other charges may apply – see our Banking Charges guide or visit lloydsbank.com for more details.•
Access to PhoneBank® and our InternetBanking service, 24 hours a day, seven days a week.
•
Our free Mobile Banking service helps you do your banking on the go with most mobile phones – using our app or via your mobile’s browser at lloydsbank.com•
Money Manager helps you keep track of your spending across all your Lloyds Bank personal current accounts.Up-to-the-minute banking
•
You can have instant access to yourmoney when you pay Lloyds Bank personal cheques into your account.
•
Real-time balances available from any of our Cashpoint® machines, over the phoneor via the Internet.
Money Manager is provided free to help you manage your personal finances and is not intended to provide legal, tax or financial advice. You must be registered for Internet Banking. Further terms and conditions apply.
Please note that although you can give us instructions 24 hours a day, seven days a week through Internet Banking, Mobile Banking and PhoneBank some of those instructions cannot be processed until the next working day, for example if the instruction is given after 10pm or at weekends or Bank Holidays. Not all PhoneBank services are available 24 hours a day, seven days a week. Please speak to an adviser for more information.
Shariah approved banking
Shariah approved banking
Two independent scholars have helped
us create your Islamic Account
We work closely with a committee of internationally recognised scholars to maintain a Shariah approved account that’s in line with your beliefs.
Mufti Muhammad Nurullah Shikder A non-practising lawyer, with an LL.M in Banking and Finance Law from University College London, Mufti Muhammad Nurullah Shikder studied Shariah with specialisation in Fiqh at Darul Uloom Al Arabiyya Al Islamiyya, Bury, UK. His expertise is in innovative structuring and documentation relating to Sukuk, Islamic Funds, Islamic Syndications and other corporate and retail products.
In 2008, he was ranked among the world’s leading scholars by FAILAKA, and in 2009 he received the ZAKI BADAWI Award for Outstanding Young Shariah Advisory. He is a trainer of Islamic finance courses and currently sits on the Shariah Board of several Islamic financial institutions.
Sheikh Nizam Yaquby
A member of the Shariah Committee for several Islamic financial institutions across the world, Sheikh Nizam Yaquby has received a BA from McGill (Economics & Comparative Religion), a Ph.D in Islamic Law and is based in Bahrain.
He has been a Professor of Tafsir, Hadith and Fiqh in Bahrain since 1976 and is the author of several articles and publications on Islamic finance in English and Arabic.
I’d like a debit card that’s
flexible and secure
You don’t have to carry cash
when you’re out and about
Your account comes with a Lloyds Bank Visa debit card, which you can use to pay directly from your account quickly and easily:
•
In shops, online or over the phone.•
To take out up to £500 a day from any UK Lloyds Bank Cashpoint machine free of charge and non-Lloyds Bank ATMs (Lloyds Bank does not make a charge but the owner of the machine may).•
To take out up to £300 per day at Post Office branches.•
To get up to £50 cashback free of charge in most supermarkets.If you use your debit card abroad or for non-sterling transactions in the UK then charges apply. Please see our Banking Charges guide or visit lloydsbank.com for more information.
If there’s not enough money in your account to make a payment, we won’t usually complete the transaction and we’ll charge you a fee. Please refer to our Banking Charges guide for more details.
£500 a day
Use any UK Lloyds Bank Cashpoint machine free of charge and non-Lloyds Bank ATMs to take out up to
Islamic AccountWays to bank
24
7
Choose how you want to bank
Online or on the phone,
it’s easy to manage your money
Please note that although you can give us instructions 24 hours a day, seven days a week through Internet Banking, Mobile Banking and PhoneBank some of those instructions cannot be processed until the next working day, for example if the instruction is given after 10pm or at weekends or Bank Holidays. Not all PhoneBank services are available 24 hours a day, seven days a week. Please speak to an adviser for more information. Internet Banking is available to our personal customers aged 16 or over. We don’t charge you for Mobile Banking but your mobile operator may charge you for some services, please check with them. Services may be affected by phone signal and functionality.
The Mobile Banking app’s Branch and ATM finder is available to all. Other Mobile Banking services are only available to our UK personal Lloyds Bank
Ways to bank
Internet Banking
Get instant access to your account with 24/7 Internet Banking, and with just a few clicks you can:•
Check your up-to-the-minute balance.•
Pay your bills.•
Transfer funds between your Lloyds Bank accounts.•
Set up, view and cancel standing orders.•
Order your travel money.PhoneBank
®A fast and simple way to get in touch, with PhoneBank you can:
•
Check your current balance.•
Pay your bills.•
Transfer money between your own accounts or to another person.•
Set up standing orders and check Direct Debits.•
Order your travel money. When you call you have the choice of using our fast automated service or speaking to an adviser. You can register by calling us on 0345 300 0000 – please ask an adviser to send you a Security Number in the post.Mobile Banking
Our free Mobile Banking service helps you to do your banking on the go with most mobile phones – either using our app or via your mobile’s browser at lloydsbank.com With Mobile Banking you can:•
View your balance and transaction history.•
Transfer funds between your Lloyds Bank UK personal accounts.•
Make payments to new and existing recipients.Text alerts
Register for a range of text alerts, via Internet Banking, over the phone or in branch, to help keep track of your balance and more.
Limit alerts – we’ll send you a text to let you know if you’re near or over your account limit, to help you avoid going into an Unplanned Overdraft.
High and low balance alerts – you can also set your own alerts to let you know when the money in your account falls below – or rises above – the limits you choose.
Overseas transaction alerts – for extra security when your Visa debit card is used abroad, we’ll text to tell you whether it was a purchase or withdrawal from a cash machine. This should make it easier for you to spot any fraudulent transactions on your account and give you time to tell us about them.
Weekly balance alerts –receive a weekly text with your balance and last six transactions on the week day and at the time you choose, so you can keep up to date with your finances.
We don’t charge you for Mobile Banking but your mobile operator may charge you for some services, please check with them. Services may be affected by phone signal and functionality. Text alerts (other than weekly balance and overseas transaction alerts) are sent before 10am UK time Monday to Friday (excluding Bank Holidays). Terms and conditions apply.
BANKING ON
THE MOVE
Download our Mobile Banking app or access Mobile Banking via your
mobile browser at lloydsbank.com
Statements
•
You’ll have access to regular statements that will show every transaction you make – either online or by post.•
You can print a mini statement from Cashpoint machines showing the seven latest transactions on your account.•
Log on to Internet Banking if you want to go paperless and switch off paper statements. You can always switch them back on again if you change your mind.•
It’s quick and simple to print or download your statements with Internet Banking.At the Cashpoint
With all our Cashpoint machines, you’re never far from any of these services:
•
Withdraw cash free of charge from any Lloyds Bank Cashpoint (from any non-Lloyds Bank cash machine charges may apply).•
Pay in cash and cheques at many of our branch-based machines.•
Pay your bills at most branch-based cash machines. Simply set up a list of companies you want to pay via Internet Banking, PhoneBank or in branch.•
Top up your pay-as-you-go mobile phone at most branch-based Cashpoint machines*.•
Move money between your Lloyds Bank accounts.•
Change your PIN at any time.•
Check your balance on screen. Ways to bankI’m all set for my next trip abroad
With your Lloyds Bank Visa debit card and some
travel money, you’ll have everything you need
It’s convenient
Use your Visa debit card to pay in hotels, restaurants and shops when you’re abroad. In fact, Visa is accepted in over 27 million outlets and at 1 million ATMs worldwide and you’ll always be sure of a competitive exchange rate. Fees may apply. Please refer to the Banking Charges guide for more information.
27 million
Places around the world you can use your debit card
And secure
Your Visa debit card is a simple alternative to carrying large amounts of cash. It’s just as safe to use abroad as it is at home as we actively monitor your account when you’re out of the country. If we see anything suspicious, we may call your mobile to let you know, so make sure we have a number to reach you on.
We can even text you when your card is used abroad. Just register for free overseas transaction alerts by calling 0345 300 0000 or through Internet Banking.
While we don’t charge for text alerts, your mobile operator may charge if you’re abroad, please check with them.
Let us know before you go so we can get in touch. Visit us in branch with your debit card or call us on 0345 300 0000. Travelling with your debit card
Travel money
Get your commission-free
travel money
All your foreign currency banknotes and American Express® Travellers Cheques are
commission free from us. We also offer instant euros and US dollars in many of our branches.
Order your foreign currency or Travellers Cheques by 3pm Monday to Friday (excluding Bank Holidays) and we’ll deliver them to any of our branches for you to collect after 1pm the next working day, free of charge. We can also deliver your currency to your home address for just £4.50 (delivery to British mainland and Northern Ireland, to your billing address only).
Our branches will also buy back any foreign notes or American Express Travellers Cheques you have left over – all commission free.
The price at which we buy back your currency may differ from the price at which we sold it to you. There are minimum denominations we can accept in certain currencies. Details of these are available on request. We may not be able to re-purchase currency if a country becomes embargoed or we no longer deal with that currency.
Different delivery timescales may apply to Scotland and Northern Ireland. We may not be able to guarantee next working day delivery to certain remote areas within the United Kingdom. Please ask in branch for further details.
Travel money
$
£
€
It’s easy to move my
money around
A range of services that make it easy
to manage your money
Set up Direct Debits and
standing orders
Direct Debits are a simple way to make payments. They go straight from your account to a company or service, which is useful for paying regular bills like your utilities.
If you ever need to cancel or change a Direct Debit, let the company you are paying and us know. If you think there’s been an incorrect payment, tell us
immediately and we’ll arrange a full refund, and tell the company or business involved. Another simple way to pay your bills is by standing order. This is a fixed, regular payment from your account. We can help you set these up, and if you ever need to change or cancel them just let us know.
Making quick, secure deposits
•
All deposits at the counter will beprocessed immediately.
•
All deposits made in depositpoints™ before the cut-off time shown at the depositpoint™ used will be processed the same working day.•
Any deposits made after that time or at weekends will be processed the next working day.•
All cash will be immediately available and cheques will follow normal clearance timelines.Please remember, weekends and Bank Holidays are not counted as working days.
SEND MONEY
ABROAD
Our International Payment Services help you send money
abroad quickly, easily and securely. To find out more, visit
any branch or call us on 0345 300 0000.
How long do my payments take?
The majority of payments made (other than by cheque and Direct Debit) to a UK bank will be processed using the Faster Payments Service with payments usually reaching the receiving account within two hours. Payments for larger amounts may take up to a day. We will advise you when you ask us to make a payment if the organisation you are sending the payment to is not a member of the Faster Payments Service.If we cannot make the payment using the Faster Payments Service you can contact us on 0345 300 0000 or call into your local branch to ask if there is any other method available to make the payment.
For more information about the time it takes to make a payment please see ‘Your Banking Relationship With Us’ (the Personal Banking terms and conditions).
Stopping a cheque
If you need to stop a cheque you’ve written from being paid, please come into your nearest branch or call PhoneBank on 0345 300 0000 to tell us. Fees may apply, please see our Banking Charges guide for full details.
For more information about when cheques will be processed, please see ‘Your Banking Relationship With Us’ (the Personal Banking terms and conditions).
Our grace period gives you until 3.30pm (UK time) every day to pay in enough money to avoid Returned Item Fees and ensure any payments go out, but you have until midnight to avoid overdraft fees. The money needs to be immediately available, so you could transfer money from another personal account you have with us via Mobile, Internet or Telephone Banking or pay in cash over the counter.
Where you do not have enough available to make a payment you may not be able to make that payment. We will write to tell you if we have declined your request. Charges apply if a payment is returned.
Please see our Banking Charges guide or lloydsbank.com for details.
3.30pm
Our grace period means you can avoid any Returned Item Fees you may incur that day, if you pay in enough money to cover payments by
Grace period
Switching your account
to Lloyds Bank
Our Switching Team will make it simple
As well as helping you switch all your Direct Debits and standing orders, we can also help arrange for anyone who regularly pays money into your account to redirect their payments (your employer, for example). And if you like, we’ll even ask your existing bank to close your account with them and send the balance to your new account. We’ll stay in touch with you throughout the process and let you know how things are coming along.
We can move all Direct Debits to your new Lloyds Bank account other than those set up to pay a company in euros. In those cases you’ll need to contact the company directly and ask for the payments to be taken from your new Lloyds Bank account.
Existing customers
If you’re an existing customer and want to switch to an Islamic Account, it’s just as easy. You can keep your existing account number and sort code, debit card and cheque book. Bear in mind your new Islamic Account comes with the features outlined in this brochure, it does not have the same features as our non-Islamic accounts.
GETTING
STARTED
To get started just ask at your local branch or find out
more at lloydsbank.com/
howtoswitch
I want to open an account
Visit any branch and we’ll help you
complete your Islamic Account application
You’ll need to bring proof of your ID and address when you come. In most cases you will only need one of the following:
•
Valid photo driving licence or signed passport from the United Kingdom, or one of the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden.•
Valid passport with valid UK Visa issued by Australia, Canada, United States of America, New Zealand, South Africa or Japan.If you can’t provide one of the items above, you will need to bring one document from each of the following two lists instead.
Proof of identity
•
All other valid signed passports with valid UK Visa.•
Valid UK non-photo driving licence.•
Blue Disabled Driver’s Pass.Proof of address
•
Bank or building society statement (we don’t accept Internet statements).•
Utility bill (such as a gas or landline phone bill) dated within the last three months.•
Local authority tax bill for current year.•
Tenancy agreement issued by solicitor, housing association, local council or reputable letting agency.If you don’t have any of the items above, we may be able to accept other items. For more information ask in any branch or call us on 0345 300 0000.
What else we have to offer
In addition to your Islamic Account, we can offer you a range of services including Islamic Business accounts. If you would like more information, visit your nearest branch or call us on 0345 300 0000.Important information
Account opening is subject to an assessment of your personal circumstances and you must be 18 or over and a UK resident to apply.
We may monitor or record phone calls with you in case we need to check we have carried out your instructions correctly and to improve the quality of our service.
Our promise is to do our best to resolve any problems you have. If you wish to complain visit your local branch or call 0800 072 3572 or 01733 462 267. (Textphone 0800 056 7614 or 01733 347 500, if you have a hearing impairment). For more information visit lloydsbank.com/contactus Cashpoint® is a registered trademark of
Lloyds Bank plc.
depositpoint™ is a trademark of Lloyds Bank plc.
PhoneBank® is a registered trademark of
Lloyds Bank plc.
American Express® is a registered trademark of
American Express company.
The Post Office® and Post Office logo are
registered trademarks of the Post Office Ltd.
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
We are covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service.
If you’d like this in another format
such as large print, Braille or audio
please ask in branch.
If you have a hearing or speech impairment you can contact us using Text Relay or Textphone on 0345 300 2281
(lines are open 24 hours a day, 7 days a week). If you are Deaf you can use BSL and the SignVideo service
available at lloydsbank.com/accessibility/signvideo.asp
