HBOS & LTSB merge - bank accounts query

book12

After the merger, does that mean my account will follow LTSB terms and conditions, and new cards will be sent?

Not sure if this is true or not (just speculating): basic accounts will now have a VISA debit card, as HBOS will no longer exisit, and it's under LTSB rule.

WhySoHard_2

book12 wrote: »

After the merger, does that mean my account will follow LTSB terms and conditions, and new cards will be sent?

Not sure if this is true or not (just speculating): basic accounts will now have a VISA debit card, as HBOS will no longer exisit, and it's under LTSB rule.

Surely it's going to take a while - like a year or so before the merger is actioned and changes are made?

lukealexander

All of this may depend on whether they keep the brand names or actually re-brand as

Halifax-Lloyds or whatever

Sonofa

I have a feeling these will stay as two different entities on the face of it. So you probably won't see any real changes in the short term.

It's in their best interests to keep things separate and look outwardly to the customer as though there is still some choice in the market, even if the reality is that there isn't.

olly300

Sonofa wrote: »

I have a feeling these will stay as two different entities on the face of it. So you probably won't see any real changes in the short term.

Agreed.

It would and will cost a lot to migrate the HBOS systems to Lloyds (or vice versa) so in the short term they will get things separately.

Sonofa wrote: »

It's in their best interests to keep things separate and look outwardly to the customer as though there is still some choice in the market, even if the reality is that there isn't.

In the medium term they will start their migration and start getting rid of branches.

Finally in the long terms, probably when all the turmoil is over, the two entities will be fully combined. However when the next government is in power due to competition laws in the UK and Europe, Lloyds may have to sell off part of the business.

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?

Cranston_2

Sonofa wrote: »

I have a feeling these will stay as two different entities on the face of it. So you probably won't see any real changes in the short term.

It's in their best interests to keep things separate and look outwardly to the customer as though there is still some choice in the market, even if the reality is that there isn't.

I don't agree.

The cost of those high street branches is very high. I think the media have this spot on. Expect 2000 branch closures.

cheggers

I hope I get my £100 cash back from my Cash Back Current account I have with Halifax, once they re-brand as Lloyds-TSB I'm closing all my accounts after 25 years with the Halifax.

Dan:_4

cheggers wrote: »

I hope I get my £100 cash back from my Cash Back Current account I have with Halifax, once they re-brand as Lloyds-TSB I'm closing all my accounts after 25 years with the Halifax.

Same here. I've already started to move all my Halifax accounts (current/savings/loan/credit card) to the Nationwide.

Sonofa

Cranston wrote: »

I don't agree.

The cost of those high street branches is very high. I think the media have this spot on. Expect 2000 branch closures.

I should have been more specific, I wasn't refering to that kind of change. On that point I would have to agree with you.

delerium

I too have a query related to this merger but from the other side of the market.

I have been a loydstsb customer for 12+ years (tsb before their merge) have had dealings with the halifax in the past. Had an mortgage and credit card with them. The credit card was defaulted on and moved into a trust deed (Scottish IVA equiv) which is now satisfied.

Does this mean now that my immaculate credit past with the lloyds tsb will be tainted with my dealings with the halifax?


I am already tempted to withdraw everything and move to the credit union where my saving are already held, but don't really want the hassle. Have had a really bad time with the halifax mortgage too borrowed #19000 paid back #23000 Not a happy chappy