Lloyds TSB Offshore Banking Review

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0.9 stars
Average rating for this product is: 0.9 out of 5

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Guest's Review of Lloyds TSB Offshore Banking

8th Jan 2008

Overall Rating

3.5 stars
  • Value for money
    4 stars
Good Points

High interest rates compared with HSBC, Nationwide Offshore, Bank of Scotland International (only up to a certain maximum amount).

Exchange rates are NOT that bad. It is inline with UK competitors. Better than HSBC and Bank of Scotland. It is better than high street banking exchange rates. According to XE, moving from US dollar to UK Sterling interbank rate is 1.97, Lloyds TSB offshore was only 1.93

Friendly staff on phone - they do know what they are talking about, they aren't in India (etc), and not in a queue for a long time. I suspect they have a relatively limited market.


Bad Points

Telephone service can be a tad unprofessional at times - "oh, we forgot to put through your requested transaction".

Over-the-top internet security when applying for an internet account for your currency accounts (be they in euros or dollars). It took four months to wound up the problems due to me living in remote places in the world and them not being flexible. Even then, it wasn't fully sorted as by that time I'd forgot the password. Even going to a local UK Lloyds TSB branch to confirm identity is not enough for Lloyds TSB Offshore Internet Banking team.


General Comments

There are some pros/cons in using the Lloyds TSB International Accounts, this depends on how you are actually going to use this. I suspect some people jumped in with both feet and not researched thoroughly for their banking style.

Frankly I think it is one of the better UK banks for international offshore services, not the best overall but for me its the best for my particular needs at this time as a global worker.

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