The Overseas Company Club is an offshore account designed to meet the needs of customers who have been advised to operate their affairs through an offshore limited liability company.

Our specialist service allows you to enjoy currency banking with a range of added benefits. So if you are in a position to benefit from operating through an offshore limited company, open an account that allows you to make the most of your money.

Contact Us

Features & Benefits

  • Accounts available in sterling, US Dollar and Euro.
  • Debit cards available in Sterling, Dollars and Euros.
  • Personal service from an Overseas Company Club Executive.
  • Offshore Phone and Internet banking available 24 hours a day, 7 days a week.
  • The minimum balance to open the account is £5000 or currency equivalent.
  • Help in finding a specialist company who can arrange your offshore company formation for you.
  • Interest may be paid on credit balances - depending on the currency of the account chosen and the balance.
  • Accounts based in secure jurisdictions of Jersey, Guernsey and the Isle of Man.

Eligibility

Limited Companies living or working abroad who require an account to accommodate contractual payments from a globally recognised company.

Credit Interest Rates (Sterling)

Current Interest Rates

Interest rates are correct as at 09 March 2009

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.01 0.01
£10,000+ 0.01 0.01
£25,000+ 0.05 0.05
£50,000+ 0.05 0.05
£100,000+ 0.10 0.10

Previous Interest Rates

Interest rates are from 09 February 2009

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.01 0.01
£10,000+ 0.05 0.05
£25,000+ 0.10 0.10
£50,000+ 0.10 0.10
£100,000+ 0.10 0.10

Credit Interest Rates (US Dollar)

Current Interest Rates

Interest rates are correct as at 09 January 2009

Interest on Credit Balances (paid half yearly) % Per Annum Gross Rate* % Per Annum AER**
Up to $2,000 Nil Nil
$2,000+ Nil Nil
$5,000+ Nil Nil
$10,000+ Nil Nil
$25,000+ Nil Nil
$50,000+ Nil Nil
$100,000+ Nil Nil
$250,000+ Nil Nil

Previous Interest Rates

Interest rates are from 21 November 2008

Interest on Credit Balances (paid half yearly) % Per Annum Gross Rate* % Per Annum AER**
Up to $2,000 Nil Nil
$2,000+ Nil Nil
$5,000+ Nil Nil
$10,000+ Nil Nil
$25,000+ Nil Nil
$50,000+ 0.10 0.10
$100,000+ 0.15 0.15
$250,000+ 0.25 0.25

Credit Interest Rates (Euro)

Current Interest Rates

Interest rates are correct as at 03 June 2009

Interest on Credit Balances (paid half yearly) % Per Annum Gross Rate* % Per Annum AER**
Up to €2,000 Nil Nil
€2,000+ Nil Nil
€10,000+ Nil Nil
€25,000+ Nil Nil
€50,000+ 0.05 0.05
€100,000+ 0.05 0.05
€250,000+ 0.10 0.10

Previous Interest Rates

Interest rates are from 28 April 2009

Interest on Credit Balances (paid half yearly) % Per Annum Gross Rate* % Per Annum AER**
Up to €2,000 Nil Nil
€2,000+ Nil Nil
€10,000+ Nil Nil
€25,000+ Nil Nil
€50,000+ 0.05 0.05
€100,000+ 0.05 0.05
€250,000+ 0.20 0.20

*GROSS RATE: The contractual rate of interest payable before deduction of income tax at the rate specified by law.

**AER - AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER you can compare more easily what return you can expect from your savings over time.

Charges & Fees

Setting up fee of £250 or currency equivalent with monthly subscription of £9.50 or $, Euro equivalent.

FAQ

Who can apply?

Eligible Sole Traders or Limited Companies living or working abroad who require an account to accommodate contractual payments from a globally recognised Company.

How long does it take to open an account?

We do our best to keep this process as simple and straightforward as we can. However, it is dependent upon supplying us with everything we need at the outset. Company searches are carried out on each application and some jurisdictions can take longer to produce search results.

Each application requires a letter from a recognised Accountant confirming the rationale for the account to be held offshore. In most cases copies of contracts of working agreements between the applicant and his employers are also required.

I’m an existing customer. Do I need to fill in an application form?

Yes. However, the process will be speedier if the details are the same with regards to your business. If it is for a new business, then again a Company search needs to be instigated together with details of new contracts.

I own a trading Account. Am I eligible for an Overseas Company Club Account?

No. This product is aimed at non trading companies who receive payments from bona fide companies for contractual work (i.e. services rendered not goods sold) and not from individuals.

HOW TO APPLY:

Visit your local branch and speak to us.

Find out more

Call us

  • Jersey 01534 845011
  • Guernsey 08457 309373
  • Isle of Man 01624 657848

CONTACT US.

THE LLOYDS TSB DIFFERENCE

As a subsidiary of the largest UK bank with unrivalled knowledge of the Islands economy, we're uniquely placed to support you on your business journey.

Learn more

ECONOMIC RESEARCH

Our Corporate Markets Economic Research Team provides in-depth analysis and reports on topical economic, financial and industry issues.

Learn more