ISLAMIC ACCOUNT. Banking that understands the Shariah way

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1 ISLAMIC ACCOUNT Banking that understands the Shariah way

2 Islamic Account Contents Account benefits 3 Shariah approved banking 4 My Lloyds Bank Visa debit card 5 Ways to bank 6 Travelling with your debit card 9 Travel money 10 Moving your money 11 1

3 Islamic Account I need an account that s right for me You can be confident the money you keep with us will not be used for any interestbased or non-shariah approved activities. It s banking in accordance with Shariah, with no credit or debit interest, no Arranged Overdraft, no minimum balance required and no charges for everyday transactions on your Islamic Account. Please note no new account applications can be accepted for this product. Please refer to our Banking Charges section of the Personal Banking Terms and Conditions for details of charges for other bank services. 2

4 Account benefits 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 section of the Personal Banking Terms and Conditions or visit lloydsbank.com for more details. Access to Telephone Banking and our Internet Banking 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 Real-time balances available from any of our Cashpoint machines, over the phone or 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 Telephone Banking 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 Telephone Banking services are available 24 hours a day, seven days a week. Please speak to an adviser for more information. We don t charge you for Mobile Banking but your mobile operator may charge for some services, please check with them. You must be registered for Internet Banking to be able to access your accounts through our Mobile Banking service. 3

5 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. 4

6 My Lloyds Bank Visa debit card 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 section of the Personal Banking Terms and Conditions 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 but we won t charge you a fee. Please refer to our Banking Charges section of the Personal Banking Terms and Conditions for more details. Use any UK Lloyds Bank Cashpoint machine and non-lloyds Bank ATMs to take out up to 500 a day 5

7 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-tothe-minute balance. Pay your bills. Transfer funds between your Lloyds Bank accounts. Set up, view and cancel standing orders. Order your travel money. Telephone Banking A fast and simple way to get in touch, with Telephone Banking 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. When you call you have the choice of using our fast automated service or speaking to an adviser. Call us on 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. Please note that although you can give us instructions 24 hours a day, seven days a week through Internet Banking, Mobile Banking and Telephone Banking 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 Telephone Banking services are available 24 hours a day, seven days a week. Please speak to an adviser for more information. Full Internet Banking facilities are 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. Our Mobile Banking services are only available to our UK personal Lloyds Bank customers and registration is required. Terms and conditions apply. The Mobile Banking App is available to iphone and Android users only and currently requires ios 10.0 or above or Android 4.4 or above although the minimum operating requirements may change in the future. Our Mobile Banking App does not work on jailbroken/rooted devices. Apple and iphone are trademarks of Apple Inc registered in the U.S and other countries. Android is a trademark of Google Inc. 6

8 Ways to bank Mobile alerts It s important to monitor your account regularly to make sure you have enough funds to make any payments due. Our mobile alerts service offers a simple way to stay on top of your finances without even having to think about it. So if we have a mobile number for you, we ll let you know when: You re nearing your limit. We ll send a message when your balance falls below 50. You don t have enough to pay a standing order. If you re able to move your money from other accounts, you will have until 2.30pm (UK time) to pay in cleared funds in order to make any payments. You ve reached your limit. You will only receive this message once when you first reach your limit and have zero available funds. You can receive alerts abroad, but please check with your service provider for any charges you may incur. You can check if we have a valid number for you - or set one up - through Internet Banking, in a branch, or by calling us on If you don t want to receive alerts you can text STOP to to opt-out. If you opt-out you may miss important messages about your account so make sure you keep track of your balance and regularly check your statements through mobile banking, internet banking or telephone banking. BANKING ON THE MOVE Download our Mobile Banking app or access Mobile Banking via your mobile browser at lloydsbank.com 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. Mobile alerts are sent throughout the day 7 days a week including Bank Holidays. This is a free service for all eligible current account customers. We won t charge you for this service, but if you receive texts while abroad, your network service provider may charge you. 7

9 Ways to bank 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 ten 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, Telephone Banking 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. *Please note, topping up your mobile will reduce your daily cash withdrawal limit. 8

10 Travelling with your debit card I 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. Fees may apply. Please refer to the Banking Charges section of the Personal Banking Terms and Conditions for more information. 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. Let us know before you go so we can get in touch. Visit us in branch with your debit card or call us on or online if you are registered for Internet Banking. 9

11 Travel money Travel money To go alongside your debit card, you might like to take foreign currency or American Express Travellers Cheques with you when you go abroad. We also offer instant euros and US dollars in many of our branches. Before you go away Order your foreign currency or American Express Travellers Cheques by 3pm Monday to Friday (excluding Bank Holidays) and we ll deliver them to either a branch of your choice for you to collect after 1pm the next working day or to your home address by 1pm the next working day, free of charge. For further details on our travel money service and delivery timescales, please visit lloydsbank.com/travel-services.asp When you get back Our branches will also buy back any foreign notes or American Express Travellers Cheques you have left over. How to Order Internet banking if you ve registered, sign into lloydsbank.com It s the simple way to order and pay direct from your account. Phone (lines open 24 hours a day, 365 days a year). Call in to your local branch. $ 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 or to branches which are not open standard hours every weekday. Please check when placing your order. 10

12 Moving your 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 SEND MONEY OUTSIDE THE UK OR IN A FOREIGN CURRENCY Our Payment Services help you send money quickly, easily and securely. To find out more, visit any branch or call us on or online if you are registered for Internet Banking. 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 be processed 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 once processed and cheques will follow normal clearance timelines. Please remember, weekends and Bank Holidays are not counted as working days. 11

13 Moving your money 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 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 the Personal Banking Terms and Conditions. Cancelling a cheque If you need to cancel a cheque you ve written from being paid, please come into your nearest branch or call Telephone Banking on to tell us. Fees may apply, please see our Banking Charges section of the Personal Banking Terms and Conditions for full details. For more information about when cheques will be processed, please see the Personal Banking Terms and Conditions. 12

14 Moving your money Grace period Our grace period gives you until 2.30pm (UK time) every day to ensure any payments go out. 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 funds available to make a payment you may not be able to make that payment. We will let you know if we have declined your request. Please see our Banking Charges section of the Personal Banking Terms and Conditions or lloydsbank.com for details. Our grace period means you can pay in enough money to cover payments by 2.30pm 13

15 If you d like this in another format such as large print, Braille or audio CD please contact us. If you have a hearing or speech impairment you can contact us using the Next Generation Text (NGT) Service (available 24 hours a day, 7 days a week). If you re Deaf and a BSL user, you can use the SignVideo service available at lloydsbank.com/accessibility/signvideo.asp Important information Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information. Our promise is to do our best to resolve any problems you have. If you wish to complain visit your local branch or call or (Textphone or , 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. 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 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 Eligible deposits with us are protected by the Financial Services Compensation Scheme. We are covered by the Financial Ombudsman Service. Information correct as of October M55999 (10/18)