Inter-Bank Agency Agreements are arrangements between banks, which provide a range of branch counter services to another bank’s customers by prior arrangement.
They provide a convenient service to business customers who find the accessibility of their own bank’s branches difficult – for example due to location.
The nature and range of the counter services offered under an IBAA is at the discretion of the providing bank.
The Counter Services available at Lloyds TSB branches are as follows:
• Cash Transactions
• Cheques Paid In
• Bank Giro Credits
• Wages/Salary Cheques cashed
• Night Safes
• Special Presentations (Cheques)
• Returned Cheques Collected
Whilst we wish to be as helpful as possible, there may be local circumstances where we are unable to provide this service, despite having a Branch locally, for example if the anticipated volumes of activity exceed the Branch capacity.
Once the service is set up, Lloyds TSB will claim back charges from the customer's own bank on a quarterly basis. The additional charge, if any, made by the account holding branch is negotiated with their customer.
The set up of a new IBAA can only be made by the account holding Bank.
• The other Bank’s customer (either personal or business) should approach their own Bank/ advising that they wish to use the branch counter services available at a specific branch or branches of Lloyds TSB.
• The account holding Bank will then write, in a mutually agreed format, to the Lloyds TSB branch or branches chosen by the customer, so they can be authorised to handle transactions within agreed parameters.
• Assuming that there are no constraints at the service-providing branch or branches, the requested facilities would normally be available for use by the customer within 10 working days. However, this is provided that the account holding Branch already has an Agency arrangement in place and that the customer has provided adequate information and documentation.
If you are a Lloyds TSB customer and you wish to set up an IBAA with another bank, please contact your Business team who will be pleased to help you.
