Lloyds TSB and HBOS to merge

Anon

billbennett wrote: »

What I want to know is why someone from the AXA group has bought the domains lloydstsbhbos.com, lloydshbos.com, and so on...

No idea why they would - but if that is the eventual brand name then I understand that they would have to hand the URL over or face significant legal action as the internet rules are very clear on this (and the registry could just switch it off!).

Anon

Uniscots97

How will the merger affect someone in the red with their overdraft? Heard the start of the discussion on the radio this morning but missed it as I had to come into work. Does anyone know?

mrposhman

unixgirluk wrote: »

How will the merger affect someone in the red with their overdraft? Heard the start of the discussion on the radio this morning but missed it as I had to come into work. Does anyone know?

I doubt it will affect it very much at all.

Firstly, it will depend how they will trade, they may decide to trade under the 2 names ala RBS and Natwest rather than consolidating into 1. If they trade with 2 I doubt it will affect you much.

If they trade under 1, your interest rate may change if Halifax and Lloyds charge different rates for their overdrafts as it would be fairer to have one rate.

I doubt it would affect the limit that you are provided though no-one could guarantee that.

DGJsaver

every town that has both , will now have 1 , it probably wont open on a saturday , and the queues will be massive , for this see when barclays took over woolwich , in leighton buzzard the woolwich closed and the queues come out the door now at barclays !

shelovestobuystuff

DGJsaver wrote: »

every town that has both , will now have 1 , it probably wont open on a saturday , and the queues will be massive , for this see when barclays took over woolwich , in leighton buzzard the woolwich closed and the queues come out the door now at barclays !

Same happened in my town when halifax took over bank of scotland(or Vice versa),queues well over 1 hour long(they still have not dealt with the long waiting times) and lots of confusion over customers having bank cards etc from both original banks.Now my local LLoydsTSB(which is another merger or take over also) is a small but very busy high street branch so I would hate to see the disorder caused by either one of those branches closing down.

richard9991

Lloyds TSB / HBOS announcement

Today it was announced that Lloyds TSB have agreed a deal to acquire HBOS plc. This acquisition combines two of the strongest brands in UK financial services and we believe it will bring substantial benefits to our customers and shareholders.
The acquisition is subject to regulatory and shareholder approval. Customers of Lloyds TSB and HBOS can carry on their day to day banking – it’s business as usual.
This announcement does not affect the terms and conditions of any products or services provided by Lloyds TSB or HBOS.
If you are an HBOS customer and have a query about any HBOS products and services, please use your usual contact numbers or on-line service.

Paul_Herring

This announcement does not affect the terms and conditions of any products or services provided by Lloyds TSB or HBOS.

This is proving to be a potential problem. It has been pointed out, for example, that anyone with a total of more then £35K in one year savings bonds between both brands will not be protected above £35K, and they won't be able to withdraw any excess before the term ends. (Wake up to Money, FiveLive yesterday.)

Mullhon2

If you have £35k with each you are covered for both lots of funds, e.g. £35K HBOS and £35K Lloyds TSB. When (or if) both lots of share holders agree to merger, then the company has to decide whether to keep it as two seperate banking licences. fit does same FSCS applies as now (think RBS and Natwest) or it may have just one licence for the new merged company covering one lot of £35K.
If you have more than that in a fixed rate / fixed term account, speak to the banks, they may allow early closure, possibly with some penalty though.
HTH

Paul_Herring

they may allow early closure, possibly with some penalty though.

Speculation of what state the country would be in should LTSBHBOS crash aside, this is the exact problem I was pointing out. There should be no penalty.

That said, it's probably going to take more than a year for them to decide, then withdraw, the extra license so realistically, the scenario I postulated shouldn't happen.

Unless people aren't aware of the restrictions/intracasies of the FSCS scheme.

Oh - that'll be most of the population then.

jd87

Sorry to bring up an old thread, but whatever happened to LTSBHBOS? All the fuss over a merger, but then nothing seems to have actually happened. Why are HBOS shares still being traded?