Our easy to use share dealing service puts you in control of making your own investment choices. Helping you plan for your future.

Directinvestments

Contents

Introduction 1

Before you invest 2

How to buy and sell shares 5

Your Share Dealing Account 6

Maximise your tax benefits 7

Charges 8

Tools and support 12

Direct Investments

1

Introduction

I want to kick start my portfolio

Straightforward share dealing

Lloyds Bank Direct Investments is an easy-to-use share dealing service that lets you buy and sell shares online or by phone, and deal in the UK or international markets.

Whether you want to deal monthly, buy and sell shares regularly, or sell an existing share certificate, with our Share Dealing Account you can deal safely and securely.

2

I want to be sure it’s the right time for me to invest

Things to consider

We provide an execution only service, which means we only carry out the instructions you give us. If you’re unsure whether or not to invest you should seek appropriate financial advice. There are a number of important considerations that you should think about before investing, including the following:

Cash for emergenciesBefore introducing any risk to your money, it’s sensible to have some accessible cash as an emergency fund for any unforeseen events. Generally, it’s considered appropriate to have at least three to six months’ worth of income available in a savings account. However, you should consider what level of cash reserve is appropriate for your own circumstances and whether you will need the money for something else in the short term or in case of an emergency. Once your money is invested you may not get back the full amount you invest as prices can fall as well as rise.

Sort out any debtIt’s important to ensure that any debts are under control before considering investments. Interest payments on debts, particularly short-term loans and credit cards or store cards, are generally much higher than the returns you’ll get from any investments, and large debt repayments may stop you reaching your financial goals.

Appropriate protectionLife Cover, Critical Illness Cover and Income Protection are areas you may want to address before investing, especially if you have a family or people who rely on you financially. Your work may offer these as benefits, but you should review the level of cover to ensure that you have adequate cover to suit your needs.

Before you invest

For help and advice on debt management visit www.moneyadviceservice.org.uk

There are lots of investment options available in the market. The right one for you will depend on a number of factors including your financial objectives, personal circumstances and how much you can afford to tie up in longer-term investments.

How long can you invest your money for?This will narrow down the type of product that will be suitable for you. You should only consider investing your money if you’re prepared to do so over the longer term.

Could you afford to lose some or all of the money you’ve invested?• You should only invest in a product with

a level of risk that you’re happy with. The higher the risk, the higher the potential return, but also the higher the potential loss. There are no guarantees, so you’ll need to be prepared for the fact that, with any stock market-linked investment, values will fluctuate on a daily basis and you may get back less than you invested as prices can fall as well as rise.

• It’s important that you see investments as something to consider in addition to savings, not as an alternative.

What is your attitude towards risk?• Consider how much risk you’re prepared

to take with your money and you should only trade with money you can afford to lose.

• When investing, consider creating a balanced portfolio of savings and different types of investments. Diversification can help reduce your risk.

3

Before you invest

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5

I want different ways to deal

Choose your account and how you operate it

Choose the account that suits you• With our Share Dealing Account we take

care of the administration and paperwork for you when you trade.

• Our ISA is a tax-efficient version of our share dealing account – you benefit from the same features and low commission rates for dealing whilst investing tax efficiently.

The value of any investment can go down as well as up and you may not get back the full amount you invest. Lloyds Bank Direct Investments offers an execution only service, i.e. we only carry out the instructions you give us – we do not provide advice on your investments. Buying and selling shares may not be for everyone. If you’re not sure, you should consult an independent financial adviser.

With Lloyds Bank Direct Investments you’re in control of your investments and how you choose to deal.

OnlineYou can access your account online 24 hours a day at lloydsbank.com/share-dealing

By phoneFor those times when you’d prefer to pick up the phone – you can call us on 0345 606 0560. Our opening hours are Monday to Friday, 8am–9pm and Saturdays, 9:30am–12:30pm.

How to buy and sell shares

Straightforward and secure management of your account

Your account benefits

We hold your shares securely in a Share Dealing Account so there’s no need to send valuable share certificates through the post each time you deal. We take care of all the administration and paperwork for you, leaving you free to focus on selecting and planning your investments.

There’s no cost for transferring any certificated holdings into your Share Dealing Account. Deal online or by phone and view your portfolio as often as you like.

Share Dealing Account benefits• You can access your account online or

over the phone.

• We take care of processing all dividends, corporate actions* and associated paperwork.

• Settlement time is faster – proceeds from your sales are usually paid after two working days instead of 10 days for certificated dealing.

• If you’re an online customer you can view all your holdings online. Telephone customers will receive all statements by post.

• Competitive dealing commission charges and a six-monthly administration charge of £20.

Choose your investments• Stocks and shares on the London Stock

Exchange, AIM and six markets in Europe and North America.

• Unit trusts and Open-ended investment companies (OEICs) from leading providers, investment trusts** and exchange traded funds***.

• UK government gilts.

• Corporate bonds.

6

Your Share Dealing Account

*A corporate action is any event that brings material change to a company and affects its stakeholders. **An investment trust is a form of collective investment, which is constituted as a Public Limited Company. ***An exchange traded fund is an investment fund that is traded on a stock exchange, which can hold a number of different assets within it.

Making the most of my investments

Trade with a tax-efficient account

With our ISA you’ll benefit from the same features as our Share Dealing Account while maximising your tax benefits. You’ll also pay the same commission rates for dealing.

You can:• Open a stocks and shares ISA.

• Transfer your existing stocks and shares or cash ISAs to Lloyds Bank Direct Investments and manage all your investments conveniently.

You’ll get a free Share Dealing AccountWe’ll automatically open a Share Dealing Account for you when you open an ISA with us, so that you can conveniently manage other investments alongside your ISA. You won’t pay the usual six-monthly fee for the Share Dealing Account and you’ll be able to view both your accounts under one account number.

Make the most of the tax benefits• No capital gains tax to pay on any profit

made within the ISA.

• Income from corporate bonds and gilts is completely tax free.

• If you’re a higher rate or additional rate taxpayer you won’t pay any additional tax on the gross dividends from shares.

You can only fund one stocks and shares ISA per tax year.

The government could change the level, basis or rate of taxation or remove the favourable tax treatment of ISAs. The value of current tax relief depends on your individual circumstances.

5 AprilEach tax year you can use your ISA allowance until

Maximise your tax benefits

7

How much will it cost me to trade?

Share Dealing Accounts and ISAs

We charge a commission for each deal, whether done online or over the phone.

Online dealing commission – UK and international* shares

Deals per quarter Dealing Commission

1–7 £11 Per trade

8th and subsequent (Frequent Trader rate**) £8 Per trade

Telephone dealing commission – UK shares

Deal value Dealing Commission

Any £35

Telephone dealing commission – international* shares

Deals per quarter Dealing Commission

Any £35

8

Charges

9

Funds dealing commission – telephone and online dealing

Online £1.50 flat rate per deal

Phone £35

Online dealing commission – certificated sales

Deal value Dealing Commission

Any £75

Telephone dealing commission – certificated sales

Deal value Dealing Commission

Any £75

*International tradingForeign currency conversions are required to facilitate the settlement of international transactions. We adjust the exchange rate by 1% and keep the difference as our fee. The available exchange rate is based on the exchange rate provided by Digital Look. Indicative exchange rates are provided prior to trading, and the rate applicable to the individual trade is confirmed on the trade confirmation once the deal has been completed.**Frequent tradingOur standard dealing commission rates will apply for the first 7 trades placed across your Share Dealing Account or Share Dealing ISA, per calendar quarter (ending 31 March, 30 June, 30 September and 31 December). The Frequent Trader rate will apply to any additional deals you place online in the same quarter. The rate applied will depend on whether the deal is placed online or by phone. Standard rates will resume at the beginning of the next quarter. The Frequent Trader rate does not apply to trades placed in OEICs, Unit Trusts or certificated sales.

Charges

Regular Investments

If you set up a regular investment plan, you can purchase shares for a reduced dealing commission.

Regular Investments (purchases only) £1.50

Administration chargesAccount type Six-monthly account charge

Share Dealing Account £20*

*This charge is waived if you hold a Lloyds Bank Share Dealing ISA as well as a Lloyds Bank Share Dealing Account.

Account type Six-monthly account charge

ISA £20

Closing your account

Account type Account charge

Share Dealing Account FREE

ISA Current six-monthly fee pro rata to closure date.

There may be additional charges for dealing, stock transfers out and rematerialisation (the process by which electronic holdings can be converted into physical certificates) as set out elsewhere in this charges information.

10

Charges

11

Additional charges

The following additional charges will apply if specific events occur in relation to your Lloyds Bank Share Dealing Account or Lloyds Bank Share Dealing ISA.

Service Charge

Dividend reinvestment 2%, maximum £10 (£1.50 for funds)

Cash withdrawal by cheque £12.50

Rematerialisation (issue paper certificate) £25

Stock transfers out (per holding) £25 (maximum £125)

CHAPS payments £20

DD charge £12.50

Copy of consolidated tax certificate £12.50

Duplicate contract note Free

Duplicate statement/valuation (per item) £12.50

Probate valuation Free

Distribution of assets Free

Lodging a Power of Attorney Free

Sale of stock (following executor instructions) £11

Premier and Private Banking customers qualify for reduced commission and administration charges if they inform us that this is the case. For full details of these charges please visit our website lloydsbank.com/sharedealingcharges

ISA chargesThe following charges apply only to the Lloyds Bank Share Dealing ISA.

Service Charge

Voiding of ISA £12.50

Repair of ISA £12.50

VATAll charges include VAT where applicable.

Charges

12

Tools to help with my investments

Essential insight at your fingertips

Our tools and research can help you make the right investment decisions. They’re available online at lloydsbank.com/share-dealing

You can:

• View share prices, charts and performance tables.

• Search for funds by fund manager, charges or performance.

• View company news and top risers and fallers.

• Create a virtual watchlist and set price alerts.

• Read up on funds and fund managers.

• Receive market news.

• View company profiles and annual reports.

The value of your investments and the income from them may go up as well as down – so you may not get back the full amount you invested.

FIND OUT MORE

Visit lloydsbank.com/shares or call 0345 606 0560.

Tools and support

13

Apply for an account today

If you have a question about share dealing or your account, contact us

- Web chat

Just sign in to your account and then click ‘Contact Us’ on the right hand side where you

can chat real-time to one of our assistants.

0345 606 0560 Opening hours Monday – Friday 8am – 9pm

and Saturday 9.30am – 12.30pm

lloydsbank.com/share-dealing

Lloyds Bank, Direct Investments, Lovell Park Road, Leeds, LS1 1NS

Tools and support

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 Text Relay or Textphone on 0345 604 2543 (lines are open Monday to Friday, 8am to 6pm). If you’re Deaf and a BSL user, you can use the SignVideo service available at lloydsbank.com/accessibility/signvideo.asp

Important informationThe Lloyds Bank Direct Investments Service is operated by Halifax Share Dealing Limited. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England and Wales no. 3195646. Halifax Share Dealing Limited is authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. 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 119278. Our promise is to do our best to resolve any problem you have immediately. Where we can’t, we’ll ensure you know who is dealing with your complaint. To complain:Call our Telephone Service on 0345 606 0560 or +44 (0) 113 279 7518. (Textphone 0345 604 2543, if you have a hearing impairment.)

Write to us at Customer Services Department, Lloyds Bank, Direct Investments, Lovell Park Road, Leeds, LS1 1NSIf you’re still not happy and we can’t put things right to your satisfaction, you can ask the Financial Ombudsman Service to look at your complaint – provided you have tried to resolve the matter directly with us first. We hope you won’t need to contact the Financial Ombudsman Service but if you do, we’ll tell you how to do this. 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. Call costs may vary depending on your service provider.Eligible investments with us are protected by the Financial Services Compensation Scheme. We are covered by the Financial Ombudsman Service. Tax treatment depends on your individual circumstances and may change in the future.Information correct as at February 2019.

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