Changes to your terms and conditions.

There are some changes coming to the way you bank with us.

And because we work in partnership with our customers, we want to help you understand them.

So what's happening?

We’ve previously told you about changes we’re making to our terms and conditions.

  • We’re upgrading our systems and improving our security.
  • All banks need to make new industry regulation changes.
  • And, we’re making our Personal Banking Terms and Conditions even clearer, which is good news for everyone.

Most of the changes to your Personal Banking terms and conditions and Banking Charges Guide took place on 13 January 2018.

There are a few changes which will happen on 22 April 2018. Below is a quick guide of what’s changing on this date. For more information, please take a look at the latest version of our summary of changes.

On 22 April 2018
  • Introduction of simplified Terms and Conditions
  • Introduction of a new Internet Banking agreement
  • Changes to paperless statements and correspondence
  • Changes to duplicate statement charges
  • Changes to payment retry times
  • Changes to earning interest on cheques
  • Change to TSB address
  • Changes to how we pay or charge you interest
  • Changing the name of Save the Change to Save the Pennies
  • Introduction of new wording for unauthorised payments
  • Changes to cheque clearing times
On 22 April 2018
  • Increase of text alert options for Under 19s accounts
  • Changes to our BIC and some IBANs for international payments
  • Removal of the £10 Arranged Overdraft buffer
On 22 April 2018
  • Changes to ISAs
  • Changes to Direct Debits on older accounts
On 22 April 2018
  • Changes to how we calculate interest for payments due on a non-banking day
  • Changes to our contact address for Personal Loans

From mid to late April you’ll start to see some changes to your statements and correspondence. Statements will look a little different, but all of the same information will be covered. There are three main changes happening at this time:

  1. As a result of our system changes Joint account holders will temporarily receive their own printed statements and correspondence. If you’re a Joint account holder you’ll start to receive separate letters and statements. Communications will stop showing the name of the other joint account holder. But don’t worry they haven’t been removed from the account. 
  2. You may start to receive extra printed statements even if you’re signed up for Paperless on your Current or Savings accounts. Don’t worry these changes are temporary. And if you signed up for Paperless and receive any printed statements your interest on the Classic Plus account won’t be affected.
  3. To make comparing bank accounts easier for you, all banks and building societies are setting a maximum monthly charge. Each bank may charge a different amount, but all banks are explaining this to their customers in the same way with the same wording. This wording is in the box below.

We’ll never charge you more than £80 each monthly billing period for all of the following fees added together:

  • Unarranged Overdraft daily usage fees
  • Monthly overdraft usage fee
  • Returned item fees 
  • Interest charged on the amount you borrow using an Unarranged Overdraft

Monthly cap on unarranged overdraft charges. 

  1. Each current account will set a monthly maximum charge for:
    a) going overdrawn when you have not arranged an overdraft; or
    b) going over/past your arranged overdraft limit (if you have one)
  2. This cap covers:
    a) Interest and fees for going over/past your arranged overdraft limit
    b) Fees for each payment your bank allows despite lack of funds; and;
    c) Fees for each payment your bank refuses due to lack of funds

What to do next:

  • If you haven't already, it's important to read the summary of changes. 
  • Here's the original version which you may have received by email or post.
  • Here's the latest version with changes that will happen on 22 April 2018.
  • You should also read and download your updated terms and conditions below.
  • Take a look at the useful Frequently Asked Questions.
  • Finally, keep an eye on this page for the latest news. 

To find details of your updated terms and conditions, just select your product(s) from the list below.


Why won’t I be able to pay an international cheque into my account?

We’re removing this service as we’re seeing fewer customers paying in foreign cheques. It’s now generally easier and quicker to send money abroad in other ways, such as using Internet Banking or through a branch.

What can you do instead?

You’ll need to make arrangements for cheques to be sent to you in Sterling. Or you can contact the person who has written the cheque and ask if they can send a Faster Payment instead.

Why can’t I have a foreign cheque to pay someone who lives abroad?

We’re removing this service as we’re seeing fewer customers asking us for foreign cheques.

What can you do instead?

It’s now generally easier and quicker to send money abroad in other ways, such as using Internet Banking.

Why won’t a TSB cheque clear on the same day when I pay it into my TSB account?

We’re upgrading our systems and our security and we’ll now have to clear a TSB cheque in the same time it takes for all other cheques. We’re also seeing fewer customers who want to do this, as it’s generally easier and quicker to make a payment online or in a branch.

Why will some cheques clear quicker than others?

During 2018 all banks are speeding up the time it takes for a cheque to clear from six days to just two. We’ll let you know before we move to the faster clearing times for cheques you pay in. But, if you write a cheque that’s paid into a bank that’s already moved to the new clearing times, your money could leave your account quicker than it does today. So it’s important that when you write a cheque, you have enough money in your account to cover it. You can find more information at

How will I know if my IBAN is changing?

We are only changing IBANs that start with ’LLOY’. You can find your latest BIC and IBAN details on your bank statements and Internet Banking (choose the BIC/IBAN option after logging in). New IBAN details will be available from 22 April 2018.


I receive a regular payment from abroad. Will I need to let that person know that the BIC and my IBAN are changing?

Yes, it’s a good idea to let them know as soon as you can see that the details have changed. We have to let all overseas banks know about the change to the BIC, but you will need to let the person who’s sending the payment know that your IBAN has changed (if it starts with ‘LLOY).


Why can't I choose who pays the payment charges when I send money to a country within Europe?

If you normally send payments within the European Economic Area (EEA) that involves a currency conversion and you incur transfer or intermediary charges, then you currently have a choice to pay the charges yourself, request that the recipient pays or split the charges between you. 

In order to comply with the new Payment Services Regulations 2017 this is changing so that the charges will be split between you and the recipient for all payments within the EEA regardless of currency.

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

Direct Debits on savings accounts.

You’re not able to set up new Direct Debits on your savings accounts, although some older accounts do have them in place. If you have an existing Direct Debit on one of these older accounts we’ll keep it running, but you won’t be able to make any changes to it, except to cancel it. You can set up Direct Debits from any current account you have with us instead.

What happens to my savings account Direct Debit if the organisation receiving the funds varies the amount?

You don't need to worry, the Direct Debit can still be amended by the person receiving it.

There are companies that offer aggregation services to allow you to see a consolidated view of your different financial accounts, and others that can initiate online payments on your behalf. We refer to these companies as online third party providers. The online third party provider must be authorised by the Financial Conduct Authority (FCA) and you need to give them explicit consent to act on your behalf. The frequently asked questions below provide more details.
An Aggregator is a company who can display information from multiple places in a single site, for example holiday or insurance comparison websites. Aggregators can display all of your online bank accounts, with different providers, in a single place using either a webpage or a mobile application. They can be used to help you track your finances and manage your budget. In order to access your TSB account(s), the aggregator will need to access your account(s) using Internet Banking.

You should only provide your security details to an authorised Aggregator, and any time they access your account, we’ll take this as being instructed by you. You will need to give the Aggregator explicit consent to access your TSB account(s) using Internet Banking.
A “Payment Initiator” is a company that can request a payment from your online bank account, for example they can request a Faster Payment to be sent to a beneficiary. In order to access your TSB account, the Payment Initiator will need to access your account(s) through Internet Banking, and will need to use your security details. You should only provide your security details to an authorised Payment Initiator, and any time they access your account or initiate a payment, we’ll take this as being instructed by you. You will need to give the Payment Initiator explicit consent to access your TSB account(s) via internet banking.
From 13 January 2018 the FCA will maintain a list of all registered Aggregators and Payment Initiators. The register can be searched from the following link: You shouldn’t provide your security details to anyone who is not on the authorised list. If an authorised Third Party accesses your account, we’ll take this as being instructed by you.

What happens if I have any further questions? Who can I speak to?

Our partners are always on hand to help, give us a call or visit us in branch

What do I do if I want to make a complaint?

To make a complaint you can call us, visit us in branch, write to us or use our online form here

When do all of these things change?

These changes will happen on 22 April 2018.

Will any of these changes affect my bank account or card details?

No these will remain the same. You should still check the details you use for international payments as mentioned in the International Payments section above.

Page last updated on 13 April 2018.

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