MSE News: Lloyds to sell 632 branches to Co-op: what it means for you

It will be interesting to find out how this will affect people who have debts with Lloyds TSB and have moved to Co-op to avoid offsetting. As far as I can see from reading the article, this would most likely affect Lloyds TSB bank overdraft debtors in the selected branches. I would imagine once the transfer happens, Co-op will own that debt and can offset against savings or current accounts.

Does anyone have any idea how it might affect Lloyds TSB credit card debt? I'm assuming that's not a branch based thing and won't transfer, but it would be good to get clarification.

OK so i have just answered my own question - on the IF website it says that the business of Intelligent Finance is not included in the transfer as does not fit with Co op Strategy.
So is it still for disposal . . . who else might be interested?

Oh Joy of Joys.

My current account is held in a branch in England - which appears not to be included in this sale (according to the list on the BBC website).
However we live in Scotland where all branches are crossing over to the Co-op.
It'll be interesting to work out cash can be deposited ! (via Post Office?)

I'm a little baffled as my local branch, my Mum's local branch, the large branch in the big local town and the large branch in the local city are all listed on the C&G list, but they are originally Lloyds branches and have been for well over 35 years that I can vouch for personally. Is it just the C&G business that is going from those branches, or are we being transferred regardless. We are in the heart of C&G country and have no Co-op branches. I am concerned, especially for my Mum who has been a TSB customer for over 70 years. It would have been nice to have received something in writing for those of us affected.

evereggy wrote: »

I'm mystified but hopeful! Was very keen to transfer to Co-operative Bank anyway. But . . . I have a bank a/c that is registered at one of the branches on the Verde list, even though I haven't lived in the vicinity for years. Does that still count, or will I be localised to the branch nearest to where I currently live?

This probably sounds dim, but I've always been a bit confused by their insistence on keeping me registered at the old branch, especially as they don't do anything to facilitate my relationship with them!

Any thoughts welcome :-}

I'm in the same boat. The branch where my account is registered to is part of the sale, but I haven't lived or visited there in over 25 years. A few years ago I asked to have the account moved to my new hometown and they declined to do it as all on one central system they said. But now I will be moving it.

Further question, if your account is moved as part of the sale and you already hold savings with the Co-Op, which combined then takes you over the £85k protection limit - where do you stand as you were forced into that position?