Friday 2nd February 2007
Lloyds TSB has commented on its new Save the Change savings account, which was opened to transactions this week.
Speaking on the launch, a spokesperson for Lloyds TSB stated that the bank will match any money saved into the account by customers during February and March.
Terri Dial, group executive director of UK retail banking at Lloyds TSB, said: "We want to make it as easy as possible for people to get into the savings habit and the beauty of Save the Change is that it wont even feel like saving."
"Save the Change can help everyone get onto the first rung of the savings ladder," she added.
The savings account works by rounding up purchases made on their debit cards to the nearest pound and transferring the added value to the customers savings.
In this way, Lloyds TSB claims that customers may not notice that they are saving a few pence at a time, but that the money will mount up over longer periods of time.
Lloyds TSBs Save the Change debit card is provided by Visa and can be used to save to an account belonging to the cardholder or a family member, the bank says.
©
Everything on preparing your finances for your children's futures. From Child Trust Funds through to tax planning. Request your FREE brochures here.
