HBOS & LTSB merge - bank accounts query

JoseChungsDoomsday

Just calm yourselves down - 24 hours isnt enough for multi-billion pound systems to merge merely by will power...

looking like hbos will still be a brand name so wait until you hear from them.

You'd think the potential of 40,000 people losing their jobs would be on your minds rather than a mark on your credit rating.

techno_geek

I'd hope that in Scotland the Bank of Scotland brand would be retained, so all LTSB branches are re-branded as BOS.

In England, I reckon a similar thing will happen to the Barclays-Woolwich merger: Halifax branches will be closed or re-branded as Lloyds Halifax, where the "Halifax" brand will be retained for mortgages (or something like that).

I'd imagine this would be a good opportunity for HBOS's antiquated retail banking systems to be integrated with LTSB's. I can't believe that roll numbers are still in use!!

I doubt exitsting sort codes and account numbers would change, like the Lloyds and TSB mergers retained the sort codes beginning with 7 in addition to the Lloyds sort codes beginning with 3.

Of course there will be job cuts, but they won't happen immediately... the merging of the brands will take a long time. From a customer point of view, I sincerely hope that the levels of service offered by Lloyds prevail... HBOS hasn't got a clue what good customer service is!!

Just my opinion, though.

gedhartnett

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.

What will happen to my HBOS shares if the take-over goes ahead?

Paul_Herring

lukealexander wrote: »

Halifax-Lloyds or whatever

ITYM:
Halifax-Bank of Scotland Lloyds Trustees Savings Bank...

Though since LTSB are the ones doing the buying, I think that bit should be first :rotfl:

dzug1

gedhartnett wrote: »

What will happen to my HBOS shares if the take-over goes ahead?

I think I saw an article that said you would be paid for them - £2.32 from memory but don't quote me

money_maker_3

gedhartnett wrote: »

What will happen to my HBOS shares if the take-over goes ahead?

They think if the purchase goes ahead at £2.32 then you will get 0.8 Lloyds shares per Halifax share owned and the Halifax ones would be done away with, but that hasn't been decided yet.

Also this merger wont be completing until December so NOTHING will be changing before then.

PROLIANT

Spoke to HBOS today as my idiot work colleague told me that Halifax were not letting people take cash from their accounts, so I panic and phone up Cust svs and was told the full story, basically HBOS is merging with LTSB as a separate business unit, bit like Satwest and RBOS, do wish people would get their facts right before scare-mongering others with "doom and gloom", my custom will remain with HBOS for as long as it can, it is such a shame that the last old-Scottish clearing bank is finally swallowed by a shark like LTSB, but in the current recession anything can happen.

classworthy

Bearing in mind that the Bank of Scotland has the kudos of being able to issue banknotes in Scotland which carry their name and the publicity which goes along with that I cannot see the name being dropped.

I believe that if taken over and a name change occurs they cannot just print notes with the new name, something to do with the original charter that gave the bank authority to issue notes. This would would mean that the 'free' advertising would dissapear.

Small point I know but they hold very dear their right to issue notes.

PROLIANT

classworthy wrote: »

Bearing in mind that the Bank of Scotland has the kudos of being able to issue banknotes in Scotland which carry their name and the publicity which goes along with that I cannot see the name being dropped.

I believe that if taken over and a name change occurs they cannot just print notes with the new name, something to do with the original charter that gave the bank authority to issue notes. This would would mean that the 'free' advertising would dissapear.

Small point I know but they hold very dear their right to issue notes.

Well one thing that defines our cultural history is things like coins and notes, buildings and landscapes, it would be ashame to deface them a picture of a "horse" on the front, such as life we will just have to wait and see eh.

PBA

PROLIANT wrote: »

it would be ashame to deface them a picture of a "horse" on the front, such as life we will just have to wait and see eh.

There are thousands of teenage girls across the country who would love to see horses on their banknotes;)

Slightly more seriously, I doubt you'll see either brand disappear in the next couple years. Until they are all migrated on to one computer system they'll have to have separate places to service ex-Halifax and ex-LTSB accounts.