No-fee account for budgeting and bill payments. With E-account you receive all the functionalities of a current account but without a debit card attached to it. You will benefit from having the use of a free current account without any cards, where you can receive salary or benefit payments and you can set up Standing orders and Direct debits to pay out.

With LMCU E-account you are in control of  your own finances.

If you are currently paying bank charges for return direct debits or standing orders and also paying hefty overdraft fees the LMCU e-account could be for you. It is mainly designed to manage your bills and other activities online and furthermore, our e-account is free.

How it work:

1) Open a free e-account with the LMCU and get your account number and sort-code

2) Add up all your monthly bills [for example; my total bill payments are £850 per month]

3) Inform your suppliers such as your gas / electricity / mobile / mortgage provider that you want to use your new e-Account number / sort-code to pay bills. Either write to your suppliers or simply call them to amend their details with the new LMCU e-Account number. [If you receive your salary 20th of every month for example, make all you bill payment date to be 2 or 3 days after the pay day].

4) On your payday transfer the total of £850 to LMCU e-Account

Now sit back and think how to spend the 100s of pounds that you saved by not paying unnecessary bank charges.

You can make cash withdrawals from E account in any of the LMCU branches (subject to the branch withdrawal maximum daily limit) for a small charge.

E account
Monthly account fee Free
Branch cash withdrawal £1.50 per hundred pounds