Lloyds TSB Save the Change to be launched

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Lloyds TSB Save the Change to be launched

Tue 5th Dec 2006

Lloyds TSB is to launch its Save the Change scheme early next year in a bid to encourage Brits to get into the habit of saving.

Every purchase made using a debit card will be rounded up to the nearest pound and the excess pennies will be put into a Lloyds TSB savings account.

A UK first, the scheme is designed to help customers save money automatically, every time they make a purchase on their card and research by the bank has discovered that 29 per cent of people are now using their debit card more frequently than this time last year.

Terri Dial, group executive director of UK retail banking at Lloyds TSB, said: "One in three British consumers say they want to save but it can be a real struggle.

"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 won't even feel like saving but at the end of the year customers will have a nice nest egg to build on for the future."

Though the Save the Change scheme is not operational until February 1st next year, customers can register online if they have a Lloyds TSB current account and savings account.

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