• Summary of changes to the terms and conditions for your online banking service

    What's happening

    We're improving your online banking service so it’s more intuitive and easier to use. Your Corporate Online registration will move to the new service which is called Commercial Banking Online.

    As part of the move, we’re updating your online banking terms and conditions to cover Commercial Banking Online which we refer to as the Service.

    The following pages give a summary of the differences between Corporate Online Terms and Conditions Current Terms and the new Commercial Banking Online Terms and Conditions. You can find the full set of updated Terms and Conditions here.

    Please take time to read the following pages so you understand what these changes mean for you. These changes will take effect when you complete your move to Commercial Banking Online, which will be at least two months from the date we send these terms and conditions to you. We’ll be in touch to let you know when this will be.

    In the meantime, you can find more about Commercial Banking Online here.

    • Using the existing Corporate Online service

      Your use of the existing Corporate Online service the Legacy Service will continue to be governed by the Current Terms. There may be a period of time when you are using both the Service and Legacy Service at the same time. In this case, the Current Terms will continue to govern your use of the Legacy Service and the Terms and Conditions will govern your use of the Service.

    • About the Terms and Conditions

      If there is a conflict between the Terms and Conditions and any separate terms and conditions relating to products and services we provide under the Service, the Terms and Conditions will prevail in respect of access to those products and the appointment of Primary Administrators and Permissions.

      The Terms and Conditions govern your access to and use of the Service. You may access, view or operate an account or accounts held with other members of Lloyds Banking Group via the Service. If this is the case, any terms and conditions in place with other members of Lloyds Banking Group which relate to the Service will continue to apply and you are responsible for complying with them. We will act as agent for the relevant account holding bank in respect of those accounts and online products. Our references to Accounts in the Terms and Conditions refers to accounts which are held with us and those held with other members of Lloyds Banking Group and/or a third party.

    • Definitions and Interpretation

      Administrators and Users

      We have changed the terminology relating to Users. Where we previously defined two types of User, Type 1 and Type 2 Users, we now refer to Primary Administrators, Administrators and other Users. We have introduced the concept of Permissions. All Users will be registered to use the Service and will be allocated specific Permissions by you depending on the type of User they are. The term Primary Administrators refers to Users appointed by you and who can access all Users and the full range of our online products. The term Administrators refers to Users appointed by Primary Administrators on your behalf to access specific accounts and specific Users. An Administrator has a more limited range of powers than a Primary Administrator but can change and create Permissions for Users within their assigned groups. Our changes give you the flexibility to allocate bespoke Permissions to each User.

      Agreement

      We have simplified the structure of the Terms and Conditions. The definition of Agreement has changed to reflect that all the terms and conditions about the Service are contained in these Terms and Conditions, except for other products and services that link to this Service which have their own terms and conditions. This is different to your Current Terms where your Agreement consisted of a wider range of documents. As a result, definitions such as Account Terms, Conditions, General Conditions, Special Conditions and Tariff have been removed.

      Digital Identification Service - PKI (Public Key Infrastructure) Customer Agreement

      We no longer refer to the Digital Identification Service which was the PKI Customer Agreement. It will no longer apply as your PKI Customer Agreement will end automatically when you stop using the Legacy Services and the Service is the only channel you are using. All references to the PKI Customer Agreement have been removed for this reason. The PKI Customer Agreement will continue to apply to other services provided by the bank which use the Digital Identification Service.

      Compliance Obligations

      We have introduced a definition of Compliance Obligations to reflect a change to the confidentiality obligations. Certain obligations will be placed on us to comply with various laws, regulatory requests and obligations contained under arrangements with other members of our group. This means, we and other members of our group may need to disclose confidential information about you to ensure we meet these Compliance Obligations and to ensure we comply with our internal policies and procedures. This definition has been introduced so it is clear to you the circumstances in which we can disclose your confidential information.

      Confidential Information

      We have introduced a definition of Confidential Information so it is clear to both you and us what information we must retain as confidential.

      Distance Contract

      We have included a definition of Distance Contract so it is clear what this is. This is in addition to Clause 26.3 of the Terms and Conditions about circumstances where you will not be responsible for losses as a result of payment instructions.

      Micro-Enterprise

      We have included a definition of Micro-Enterprise so it is clear to us and you what we mean by this when it is used throughout the Terms and Conditions.

      Payment Instrument

      We have included a definition of Payment Instrument so it is clear to us and you what an instrument is when we refer to this throughout the Terms and Conditions. This could be a card, password or other security information for example.

      Products

      We have included a definition of Products so it is clear to you what the Products provided by us include. This will include accounts, payment services and online services for example.

      Security Device

      We have amended the definition of Security Device to include hardware, software and any other items designed to help protect your online banking security.

      User Instructions

      We have amended the definition of User Instructions to cover all instructions, including payment instructions and no longer have a separate definition of Payment Instructions.

      Interpretation

      We have included wording to help you understand the way the Terms and Conditions should be interpreted.

    • Your relationship with us

      Clause 3.2

      We have included wording to clarify that we can decide to provide you with specific Online Products at our discretion and we will not be responsible for any loss or damage caused as a result of our decision.

    • Our obligations to you

      Clause 4.1

      We have included wording to specify that any financial information we provide to you will be for your guidance only.

      Clause 4.2

      We have included wording to clarify that we will perform our obligations in accordance with the Terms and Conditions as long as this will not put us in breach of any applicable law.

      Clause 4.3 / 4.4

      We have included clause 4.3 and 4.4 so it is clear what we are obliged to provide to you. This expands upon clause 2.2.1 of your Current Terms. It explains that we will provide the Service to you subject to you complying with the Terms and Conditions. Our obligation to provide the Service is subject to us being entitled to carry out routine and emergency maintenance where necessary. We will notify you of any maintenance in advance if this is reasonably possible.

    • Your obligations to us

      Clause 5.1

      There are additional responsibilities for you to ensure the data provided to us by your Users is accurate, their User profiles are up to date and that you remove redundant User profiles. This will help us ensure we maintain security.

      Clause 5.2

      We have included additional responsibilities to ensure you and your Users use the Service in the way it is intended to be used and not in a way that would contravene any laws or regulations.

      Clause 5.3

      As in your Current Terms, if you or your Users access the Service from outside the United Kingdom, you are still obliged to comply with the laws and regulations of that country. We have expanded this obligation to ensure you comply with laws and regulations relating to the import and export of any Service Equipment. In addition, we have included a right allowing us to prohibit the use of the Service Equipment in any country where we consider it may jeopardise us, you or the Service.

      Clause 5.4

      The Service Part 2 allows us the flexibility to update security and Service Equipment as necessary to ensure a secure service for you. We have included a right allowing us to modify the Service Equipment or supply replacements at any time and you are obliged to use the modified or replaced equipment without delay.

      Clause 5.5

      We have included wording to make it clear that any software we provide in our Service Equipment belongs to us and our licensors. If any defect appears in the Service Equipment, we will correct this as soon as is reasonable after you have told us in writing. There will be no other remedy available to you in respect of such defects. We will let you know any hardware items or software products which you will require to ensure the Service Equipment can operate. We cannot say our Service Equipment will operate in conjunction with any other hardware items or software products other than those we notify you of and will not be responsible if such equipment does not work in conjunction with other products and items.

    • Your warranties

      Clause 6

      We have included wording whereby you warrant to us that you are entitled to enter into and perform the Terms and Conditions, will not breach the rights of any third party in doing so and that all the information provided to us is accurate and complete.

    • Changes to the agreement

      Clauses 7.1 – 7.3

      We have included clauses to clarify that we may make changes to the Terms and Conditions and, if we intend to will give you at least 2 months’ written notice before such changes come into effect, unless we are not able to provide notice due to a change in law. We have explained how we may communicate these changes to you. You are entitled to reject a change by writing to us, and if you do, we will take this to mean you want to stop receiving the Service. The Service and your Terms and Conditions will terminate immediately without you incurring any charges. If you do not write to us before the changes come into effect, we will take this to mean you accept the changes.

      Clause 7.4

      We have included wording to clarify what is not a change and will not require us to give 2 months’ notice. Adding new services or products to the Terms and Conditions, adding ways that you can use the Service or Products or changing Security Procedures will not be considered a change and we are not obliged to provide 2 months’ notice.

    • Confidentiality and ownership of information

      Clause 8

      Both you and we are under obligations of confidentiality in a similar way to your Current Terms. We have expanded these to specify the circumstances and to whom Confidential Information can be disclosed. For example, this covers disclosure to employees to ensure compliance with the Terms and Conditions and disclosure to professional advisers. We have also explained what will not be considered Confidential Information. This covers information already in the public domain for example. Neither of us is required to maintain such information as confidential.

      Clause 8.5

      In order for us to provide the Service, we may require other members of Lloyds Banking Group to give us information relating to you, your Users and/or your accounts. In agreeing to these Terms and Conditions, you authorise other members of Lloyds Banking Group to disclose all such information for that purpose.

    • Setting up Users and allocating Permissions

      Clause 9.1 / 9.2

      Clause 9 provides you with guidance on how to set up and allocate Permissions to Users. It will be your responsibility to allocate and register Users and assign them with appropriate Permissions unless we have agreed to do this on your behalf.

      Clause 9.2

      Previously your System Administrators and Type 2 Users had to be appointed as nominated representatives or Authorised Users under your PKI Customer Agreement. This is no longer the case. As there will no longer be a PKI Customer Agreement, there is no need for Users to qualify and be appointed as Authorised Users in accordance with those terms.

      Clause 9.3 - 9.4

      In your Current Terms, System Administrators have a very specific and defined role. You are now able to allocate Permissions to your Users and define their role and powers accordingly. Your Primary Administrators will be responsible for registering Administrators and setting Permissions for them in a similar way to the System Administrator under your Current Terms. Your Primary Administrators and Administrators will be able to register other Users and allocate Permissions to them in a similar way to the System Administrator under your Current Terms.

      Clause 9.7

      We will require certain information from your Primary Administrators to ensure we can identify them. We will ask that each Primary Administrator signs a declaration which deals with their use of the Service and allows us to use data relating to them.

    • User Instructions

      Clause 10.1

      We are no longer only obliged to accept User Instructions from a specific type of user. We can accept instructions from all Users if the instructions align with the Permissions allocated to them by you. We have included a right allowing us to ask for verification for any particular instruction given to us by a User at any time. It is your responsibility to ensure that Users act within their Permissions.

      Clause 10.3

      We can decline or delay processing any User Instructions at our discretion where the person providing the instructions has not been properly registered or their Permissions have not been properly allocated. In this case, we will not be responsible to you for any loss or damage caused as a result.

      Clause 10.6

      You may need us to undertake certain tasks relating to the set up and operation of the Service on your behalf. We can offer this as part of our Service. We will only ever act in accordance with your instructions in this regard and will therefore not be responsible for any loss or damage caused in complying with your instructions.

      Clause 10.8

      We have included wording to specify that the content and accuracy of User Instructions will be your responsibility. This is to align with changes made to User Instructions that explain we can accept any instruction provided it is within a User’s Permissions.

      Clause 10.9

      We will now accept withdrawal of consent to payment instructions provided this is given using the Security Devices and Security Procedures.

    • Dual administration approval

      Clause 11.1

      Under the Current Terms, we recommend you appoint more than one System Administrator at a time. In future, we may require at least two Primary Administrators to approve User Permissions. We may allow exceptions to this rule only with our specific agreement. Please contact us if this will cause you a problem.

    • Security

      Clause 12.1

      As in the Current Terms, we will specify the Security Procedures you must follow from time to time and may make changes to these procedures and to our Terms and Conditions in connection with such changes. This may mean we will need you to enter into additional or separate agreements relating to the new procedures and may need additional approval steps to maximise the security of the channel.

      Clause 12.4

      We have included additional obligations on you to ensure we are taking all necessary precautions in relation to security. You are obliged to use all reasonable endeavours to ensure your Users do not disclose account details or give Security Devices to other persons. Where we require Users to choose security details, you must ensure your Users choose security details which cannot be easily guessed and that all Security Devices and information are stored safely and disposed of securely. We ask that if you receive any financial information you are not expecting to receive from us, you tell us as soon as possible.

      Clause 12.5

      In your Current Terms, the System Administrator is responsible for taking necessary steps to cancel or suspend access rights of Users in specific circumstances. This will now be the responsibility of the Primary Administrator.

      Clause 12.8

      We have included a right allowing us to automatically log a User out of the Service if they have been inactive for a period of time. We are entitled to determine that period. This is to ensure we maintain control of the security of the Service. We will not be responsible to you for any information lost as a result of the automatic log out.

      Clause 12.9

      We have included a right allowing us to use our security systems to monitor your use of the Service. This will help us identify any unauthorised access.

      Clause 12.10

      We have included wording obliging you to assist in relation to the loss, theft or misuse of Security Devices or other Payment Instruments. We can disclose information relating to you to other financial institutions, authorities or the police in these circumstances.

    • Charges

      Clause 13.1

      The information on Charges for the Service is still contained in the Tariff. We have included a clause to specify we are entitled to charge interest on any late payments. We may or may not use our right under this clause at our discretion. If we choose to charge interest, it will be charged at a rate of 8% per annum above the Bank of England Bank Rate from the due date until the date of payment.

      Clause 13.5

      We have included wording to clarify the position under the Payment Services Regulations 2009 (S.I. 2009/209). According to the regulations, all domestic and cross border payments made within the EEA in an EEA currency that do not involve a currency conversion must be made on the basis that the person making the payment pays any charges levied by its bank or other financial institution and the person receiving payment pays any charges levied by its bank or other financial institution. This is the position that we and you have been adopting. We have included a right entitling us to alter payment instructions to ensure compliance with the regulations in this regard.

    • Online payment and viewing functions

      Clause 14.1

      This clause provides you with more detail about the online payment and viewing functions provided by the Service. The Online Payment and Viewing Functions are the same as your current functions so you can view balances and statements of accounts and transfer funds between accounts. These activities will all be governed by the relevant Permissions of Users.

      Clause 14.2

      Certain cut-off times may apply to the Online Payment and Viewing Functions. Our standard cut-off times can be found on our website.

      Clause 14.3 - 14.4

      As part of the Service, some of the accounts accessible via the Online Payment and Viewing Functions may include accounts held with other financial institutions. In this case, you will be responsible for the preparation and transmission of input data by those institutions and for ensuring that it is transmitted to us as soon as it becomes available.

      Clause 14.6

      We have added wording to clarify that where a beneficiary has changed their account under the current account switch service, you will be responsible for updating the bank account and other details of any payment recipients. In relation to the Service, account numbers and sort codes of recipients are set up by you as templates and are under your control. We will not be responsible for updating them.

    • Technical requirements - cookies

      Clause 15.7

      We will use cookies on our website so we can provide you with the Service. You will be able to switch off or opt out of using cookies. If you do, you may not be able to use certain features of our website and the Service and this will not be our responsibility.

    • Account information available using the Service

      Clause 16.4

      If you open new accounts, we will be entitled to notify the Primary Administrators of such accounts and make them available to the Primary Administrators so that appropriate Permissions can be allocated for these accounts.

    • Payment instructions

      We have introduced a new section, clauses 18 to 26, to deal with payment instructions. These clauses are new to the Terms and Conditions and provide direction on how to issue payment instructions. We ask that you read these carefully.

      Clause 18.1

      This clause deals with the issuing of payment instructions to us and provides detail around your use of unique identifiers. You are required to provide us with a correct unique identifier and all relevant information we require. Any failure to do so may result in us being unable to process an instruction or payment failing to reach an intended recipient. We will not be responsible for any loss or damage you suffer as a result. It is your responsibility to check that unique identifier information which has been saved and is used for repeat payments is correct at the time of each payment instruction you give us.

      This clause provides you with detail on what the unique identifiers will be if sterling payments or foreign currency payments are made into a sterling or currency account in the UK and payments into accounts based outside the UK but within the EEA. The unique identifiers will be different for each scenario.

    • Providing and withdrawing consent

      Clause 19.2

      Clause 19 deals with providing and withdrawing consent for payments.

      We have included wording to clarify the position with future dated payments. Where a User provides instruction for a payment to be made on a date or recurring dates in the future, we are authorised to process the payment provided that such instruction was within that User’s Permissions at the time of the instruction. The concept is similar to the Current Terms where consent for a payment transaction is provided at the time the Security Device is used to authorise that payment. This is the case even if, between the instruction being given and the payment being made, the specific User no longer has the relevant Permission.

      Clause 19.3

      We have changed the position on withdrawal of consent for payments. Under the Terms and Conditions, once we receive your consent, you can only withdraw it where you have instructed us to make a series of recurring payments and provided that you give us notice no later than the end of the Business Day before the day such payment is due to be made. We will treat this as withdrawal of your consent in respect of all future payments in that series unless you tell us otherwise. Once you have withdrawn your consent, we will not make the payment and will have no liability to you for any loss or damage caused as a result of that payment not being made.

      Clause 19.6

      We have introduced wording to deal with the recall of payments. We will provide reasonable assistance to you in relation to the recall of payments but may not be able to recall such payments. We will have no responsibility to you for any loss or damage you may suffer if we are unable to do so. Where we are able to recall a payment and that payment was in a different currency to the denomination of the account, we will return to you the equivalent amount in the currency in which your account is denominated. This amount will be calculated by us based on the exchange rate prevailing on the day the amount is credited to you.

      Clause 19.8

      We are entitled to charge you for revoking a payment order. Details of our standard charges can be found on our website.

    • Receiving your payment instructions

      Clause 20.1 - 20.2

      We have included wording to clarify that we will treat payment instructions and the associated Permissions as being received at the time they are actually received by us and not at the time you send such instructions to us.

      This is the case with payments to be made on a future date or a series of recurring payments to be made on future dates. In addition, we will treat the date we need to make the payment as the date we receive the payment instruction from you, except for standing orders, where we will only treat the date we need to make the payment as the date we receive your payment instruction, if you have the funds to make the payment on such date.

      Clause 20.3

      We have included wording to clarify that if we receive a payment instruction after the cut-off time on a Business Day, or on a day that is not a Business Day, this will be deemed to be received by us on the next Business Day.

      You can find our standard cut-off times on our website or if specific Online Products have their own, you can find them in the terms and conditions for such Online Products.

    • Acting on your payment instructions

      Clause 21.1

      We have introduced wording about when payments will reach recipients. These timings differ depending upon the location of the bank account the money is being transferred to and the currency of the payments.

      Clause 21.3

      We have included wording to clarify that we may not be able to process your payment instructions if the financial institution you are sending the payment to is not a member of the Faster Payments Service or if the amount of the payment exceeds the value limit for the Faster Payments Service. Where this is the case, we will let you know so we can discuss alternative ways to make payment. Charges may apply for these alternatives. In some circumstances we may not be able to make a payment at all and will let you know if this is the case.

      Clause 21.5

      We have included wording to make it clear we are entitled to settle payments through such payment systems as we may decide in our sole discretion.

    • When we can stop the use of a Payment Instrument

      Clause 22

      We have included a list of situations in which we can stop the use of a Payment Instrument. This may be due to the security of a Payment Instrument or where we suspect unauthorised or fraudulent use of a Payment Instrument as well as other circumstances which we have set out for clarity. If we have stopped or are going to stop the use of a Payment Instrument we will tell you as soon as possible.

    • Refunds for incorrectly executed payments

      Clause 23

      We have included this clause to set out what will happen if we incorrectly make or fail to make a payment instruction. If this occurs, we will refund the amount of the payment and return your account to the state it would be in had the payment not been made. We will only do this if the unique identifier provided by you was correct and if you tell us as soon as you become aware of the error, and in any event, within 13 months of the date the payment left your account. We may require certain information from you before we provide a refund.

    • Refunds for unauthorised transactions

      Clause 25

      This clause makes it clear when you will be entitled to a refund for an unauthorised transaction. If a payment transaction was not authorised by you, subject to any responsibility you may have as set out in the Terms and Conditions, we will refund the amount of the transaction to you together with any related interest and charges directly incurred by you provided that you have notified us without delay, and in any event, within 13 months of the date the payment left your account. In some circumstances, we might investigate whether you are entitled to a refund and may ask you to provide certain information to help us investigate. On some occasions, we may investigate following the refund. We are entitled to debit the refunded amount from your account if we later discover you were not entitled to it.

    • Your responsibility for unauthorised transactions

      Clause 26

      This clause specifies the circumstances where you will be liable if there is an unauthorised transaction on your account. If you are a Micro-Enterprise and an unauthorised transaction occurs due to a lost or stolen Payment Instrument being used or misused because you have failed to keep the personalised security feature safe, you will be liable for resulting losses up to a maximum of £50 per instance of loss, theft or misuse.

      If you are a Micro-Enterprise and have acted fraudulently, intentionally failed to, or with gross negligence failed to keep Payment Instruments safe, you will be responsible for all losses.

      If you are not a Micro-Enterprise you will be liable for all losses in the circumstances set out above.

      For all clients Micro-Enterprises and non Micro-Enterprises, unless you have acted fraudulently, you will not be responsible for any losses arising after you have notified us of the loss, theft or misuse of a Payment Instrument. In addition, you will not be responsible for any losses arising where we have not provided you with the means to tell us of any such loss, theft or misuse of Payment Instruments or if the Payment Instrument has been used in connection with a Distance Contract.

    • Suspension and deletion of Users

      Clause 27.1

      We have changed the process for deleting or suspending Users. Currently, it is our responsibility to do this once you have told us. This will now be your Primary Administrators’ responsibility. If you wish to suspend or delete a User and the Primary Administrator is unable to, for whatever reason, you must tell us immediately.

      Clause 27.3

      We have included a right allowing us to delete Users that have not used the Service for a period of time to ensure we maintain sufficient control over Users. We will provide you with reasonable notice before we delete Users.

      Clause 27.4

      We have included a right allowing us to carry out maintenance on the Service and ensure we maintain security. This means we can suspend the Service or suspend access to the Service for specific periods of time. We will let you know when we need to do this unless this would compromise security. We will let you know when the supply of the Service has resumed. We will not be able to process any User instructions deemed to be received by us during the period of suspension. This will include any future dated payments due to be processed during the suspension period. We will let you know that we are unable to process any payment instructions in accordance with the terms relating to the specific Online Product.

      Clause 27.5

      We have included wording to clarify that if either you or we suspend or remove a User’s access, this will not take effect until the User logs out of the Service. We will comply with any User instructions given until the point that the User logs out. We cannot be liable for any actions of the User between the time we become aware a User will be suspended or removed and that User logging out.

    • Termination

      Clause 28.1

      You can terminate these Terms and Conditions at any time by giving us notice. The notice period has changed to one month’s notice as opposed to 28 days in your Current Terms.

      Clause 28.2.2

      We have included additional rights allowing us to terminate the Terms and Conditions as a result of your fault. These include rights to terminate as a result of your failure to pay us, you causing damage to our reputation, your repeated breaches, your improper use of the Service as well as others.

      Clause 28.3

      As per your Current Terms, we are entitled to terminate the Terms and Conditions if you become Insolvent. We have included a definition of what we mean by Insolvent. The list is broader than in your Current Terms. We have included an obligation for you to notify us if insolvency occurs or you believe it will occur.

      Clause 28.5

      We have included a clause to set out the consequences of termination. If you stop receiving or we stop providing you with the Service and the Service is necessary to provide certain Online Products or other products, we may stop providing these to you. Any notice of termination from us will cover those other products and Online Products. Your terms and conditions relating to any terminated products will remain in place.

      Clause 28.7

      We have changed what happens if a joint account holder dies. Under your Current Terms, we will treat the Service as having terminated unless the other account holder(s) have full power to use it. The new position is that we may treat any survivors as having full power to carry on the relevant business unless we receive instructions to the contrary.

    • What happens after termination or cancellation

      Clause 30

      We have included wording to describe what happens if you cancel the Service or the relationship between us ends. You are obliged to destroy any Security Devices. You must pay any amounts owed to us and we will return any monies that we owe you subject to any rights we may have to set-off what we owe you against any monies owed to us. If we act upon instructions which were authorised by you before the date of closure of the Service, we will not be responsible for any loss or damage caused as a result.

    • Liability

      Clause 31.1

      We have included a clause to make it clear that where you are two or more persons, undertakings and responsibilities will be joint and several, meaning both such undertakings can be pursued in respect of any liability to us.

      Clause 31.2

      We still exclude our liability for various types of loss. We have changed the wording to specify the types of loss we exclude under the Terms and Conditions and to clarify that we are excluding direct and indirect losses within that category of loss. We have expanded the list of losses excluded to cover; loss of production, loss of reputation, loss of margin, loss of bargain, costs relating to wasted managerial, operational or other time and claims made against you by third parties. We exclude the direct element of all these types of losses including those losses we exclude under your Current Terms.

      Clause 31.3

      We have changed the liability clause on what we will be liable for. We will have no liability to you in connection with your use of, access to or reliance upon the Service except in relation to any liability which we cannot exclude as a matter of law. This is different to the previous liability position where we agreed to be liable to you up to a specific financial limit.

      Clause 31.4

      We have included wording to clarify that if you are a trustee or trustees acting on behalf of a trust, your responsibility to us will not exceed the value of the assets of such trust. This includes pension schemes.

      Clause 31.7

      You will still be liable to us in respect of any losses, damages, liability, expenses or costs that we incur or suffer as a result of your access to and use of the Service or any breach of the Agreement. You will be liable to us on an indemnity basis in respect of such losses, damages, liability and expenses.

    • Circumstances beyond our control

      Clause 32

      As with your Current Terms, we will not be liable for failure or delay in our performance of the Service where this is due to abnormal and unforeseeable circumstances outside our control. We have included examples of such circumstances such as fire, floods, storm, legal or regulatory requirements and failure of networks. The list is not exhaustive.

      Clause 32.4

      We have included wording to make it clear that we and members of our group may be subject to sanctions and/or embargoes imposed by the international community. We may not accept instructions and/or decline instructions if they would result in us breaching any sanction or embargo. We will not be liable to you for any loss, damage, cost or expense caused as a result. We have included a right allowing us to disclose to authorities such information about any instruction and/or payment as may be required.

    • Partnerships

      Clause 33.2

      We have included wording to make it clear how responsibility is shared in relation to partnerships. Each partner will be separately responsible to us for all debts and obligations. If we need to take legal action against a partnership, we may take legal action against all or any of the partners.

      Clause 33.3

      We have included wording to ensure it is clear how disputes between partnerships regarding accounts will be handled. In the event of such a dispute, we may require all partners to authorise transactions to be made out of any accounts until all partners agree how the partnership accounts are to be run.

      Clause 33.4

      We have included wording to ensure it is clear what will happen if we are owed money when a partner dies. Any surviving partners will remain separately responsible for paying any debts. We may also request payment from the deceased partner’s assets. The position is the same if a partner leaves the partnership in that each partner, including the partner who has left, will be separately responsible for any outstanding debts.

      Clause 33.5

      We have included wording obliging you to tell us immediately of any changes in a partnership. Any incoming partners must sign a confirmation of the existing authorised signatories to us in a form we may specify. We have included a right allowing us to complete any identification, background and other checks in relation to any incoming partners.

    • General

      Clause 36.3

      We have included a restriction preventing you from granting any security over any account with us unless this is in our favour.

      Clause 36.10

      If either Lloyds Bank International Limited or Bank of Scotland plc have agreed to supply the Service to you, please note that Lloyds Bank plc will be performing all the obligations of Lloyds Bank International Limited or Bank of Scotland plc, as applicable, on their behalf. Any instructions and communications from you should be direct to Lloyds Bank plc.

      Clause 36.11

      Where either Lloyds Bank International Limited or Bank of Scotland plc has undertaken to supply the Service to you, your sole contractual relationship in relation to the supply of the Service shall be with that relevant entity and not Lloyds Bank plc. This means that when reading these Terms and Conditions, you will need to read any references to the Bank or Lloyds Bank as meaning Lloyds Bank International Limited or Bank of Scotland plc as applicable to you.

    • Communications

      Clause 39.3

      We have included a clause to clarify that we will only send one copy of a notice to you even if the Service is held in two or more names.

      Clause 39.4

      We have included wording to clarify that we may send a notice to a Primary Administrator. If we do so, this will be considered to be a notice sent to you.

      Clause 39.6

      We have changed the timescales within which notices will be deemed to be served. If a notice is sent by post and is not sent by special delivery or first class post, it will be deemed to be delivered on the fourth Business Day after posting rather than the fifth as in your Current Terms. If a notice is sent outside the UK, this will be deemed to be delivered on the eighth Business Day after posting rather than the tenth as in your Current Terms. We have included wording to clarify that any notice sent by email before 4pm on a Business Day shall be deemed to be delivered that day. Any email sent after 4pm, will be deemed to be delivered on the next Business Day.

      Clause 39.10

      We may now communicate with each other by email but we will not accept any payment instructions by email or the service of any proceedings.

      Clause 39.11

      Given the introduction of email as an acceptable form of communication, we have included restrictions around the use of email. We will not have any responsibility to you for failing to act on emails; if they are unclear, if we doubt the validity of the email, if we are unable to receive it and/or the individual you have sent an email to is unavailable and this causes delay.

      Clause 39.12

      As per your Current Terms, you are responsible for ensuring you keep your contact details up to date. You must now ensure we are provided 7 days notice in writing of any change to your contact details.

      Clause 39.13

      We have included an obligation on you to inform us as soon as possible if you undergo a name change, change to the nature of your business, change of address, change of phone number, change of email address, change of status as a Micro-Enterprise, change to directors or members, change to the structure of your business or change to the names of those appointed as signatories.

    • Personal data

      In your Current Terms, we specifically deal with the processing of your personal data. We no longer deal with such issues in the Terms and Conditions. Data privacy issues will now be dealt with on your application forms for the Service.

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. Please note that any data sent via e-mail is not secure and could be read by others.

Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.