Lloyds Bank has clarified the rules for one of its savings accounts after a customer raised a query.

The individual contacted the savings giant over X to ask: "My monthly saver is about to revert back to a standard account on the 19th. If I open a new one, can I just add to the £3,000 already in it or do I have to start a zero again?"

You can deposit up to £250 a month into the Monthly Saver, meaning at the end of the 12-month term, if you put in the maximum each month, you will have deposited £3,000, with a balance of £3,078.75 after the interest is paid.

The rate for the account is 5.25%, however at the end of the 12 months, the account becomes a Standard Saver, paying just 1.6%, meaning a 3.65% drop.

Responding to the customer, Lloyds said: "You'd be opening a new account which would have a zero balance. The maximum you can deposit is £250 including the first month, so you wouldn't be able to deposit £3,000 to it."

You can save between £25 and £250 a month into the Regular Saver account. The account can be opened and managed online, through the app, in branch or over the phone.

A person can only have one Monthly Saver and online applications have to be made in a sole name. You can open it as a joint account by going in branch or calling up once the account has been opened.

If you decide to close the account before it matures, you have to wait until the 12-month term ends if you want to open another one.

Lloyds also recently about scams after a person received a suspicious message. The individual contacted them over social media to raise their concerns.

The message they had received read: "Lloyds Bank has detected an attempted online transaction on your Debit Card at GymShark on 06/02/2025 at 11:66:55 for £108.55.

"For security reasons, this transaction was declined. If you recognize this transaction, please reply YES. If you do not, reply NO."

The bank responded to confirm that this was a "scam" message. Lloyds said: "You can see they've used the incorrect spelling of 'recognize' and also any message we send similar to this will have the last four digits of your debit card as well."

The group also warned that another sign the message was fake was that it was generic in how it was written, and could apply to anyone.

Scammers often send out generalised messages like this pretending to be from a genuine organisation, to dupe people into sending them financial or personal details for them to exploit.

If you get a suspicious message, it's a good idea to contact the group yourself to find out what is going on. Many banks are signed up for the 159 service, meaning if you call this number, you can be connected to a legitimate phoneline for your bank.

These are the banks currently signed up to the 159 service:

• Bank of Scotland
• Barclays
• Co-operative Bank
• Chase
• First Direct
• Halifax
• HSBC
• Lloyds Bank
• Metro Bank
• Modulr Finance
• Monzo
• Nationwide Building Society
• NatWest
• Revolut
• Royal Bank of Scotland
• Santander
• Starling
• Tide
• TSB
• Ulster Bank.