Lloyds TSB Save the Change is launched

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Lloyds TSB Save the Change is launched

Fri 2nd Feb 2007

The Lloyds TSB Save the Change scheme was launched yesterday, designed to help customers save without thinking about.

It is hoped that the initiative - which involves rounding up every purchase with a Lloyds TSB debit card and putting the excess into a savings account - will get more people into the habit of saving regularly.

And as a way of encouraging more people to join the Lloyds TSB Save the Change scheme, the bank will match a customer's savings throughout February and March up to £50 in each of these months.

Speaking of the reasons behind initiating the scheme, 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."

Lloyds TSB research discovered that 34 per cent of people said that they wished they had more control over their savings and 79 per cent stressed that small savings could have big benefits for them in the future.

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