Lloyds TSB takesover Halifax - is my account safe?

ferret88

Hello

As a fellow debtor owing a few banks money I changed my bank account to a Halifax Basic Bank account because it was a bank that had no connections to any of my debtors and therefore couldn't be looted.

Now Lloyds TSB has merged with Halifax and I am worried. I have a debt with a Lloyds TSB credit card and want to know whether this means they can access my Halifax account to take money?

Anybody have any ideas? Do I need to change my account again? What happens if all the banks merge with other banks and we are left with no safe Basic Bank accounts??? :eek:

Ferret

THE_LONE_RANGER_4

good point, i dont know the answer though .im sure some one will but knowing banks they would if they could how ever a deal has probably been done via the guv on the basic bank account issue every one has the right to a basic bank account .unless bankrupt

one-day

omg i'm in the same boat i hope not

Deep_In_Debt

http://forums.moneysavingexpert.com/showthread.html?t=1164659

Have a look at this thread. Yummy-mummy posted a link.

Hope it helps

Rach2007_2

I'm in the same situation - got a lot of debt with Lloyds TSB and moved to HBOS earlier in the year.
I'm with Payplan and rang them in a panic this morning and they said not to worry at this stage, unlikely that Lloyds would use their Right to Offset on an existing Halifax bank account.
I'm still not convinced tho, Lloyds have been my worst creditor in terms of accepting my DMP, and are still adding interest and charges so I may look for another bank account anyway.

pania

it is going to take a very long time for the wheels to get in motion for things like this so do not worry at this stage. It could be that lloyds and halifax actually still appear as seperate corporations, a bit like abbey and santander.. or it could be that a complete rebranding takes place and then we'd need to be concerned. snatching money from someones account is not something that will take place in the short term as they need to amalgamate the companies properly to do that. Hope that helps

Deep_In_Debt

I would err on the side of caution and change anyway if you are worried.

As pania says, nothing is set in stone yet and it will be a while before anything happens. Working in the finance industry myself, I know how long things take!!

pania

ditto DID and right now i hate it!!! mortgages!! pah!!

Deep_In_Debt

Mortgages, investments, pensions...yawn, yawn!!!

jscalow

nothing will happen to your halifax account. you have nothing to worry about. any changes will take a minimum of 18 months to implement and at present the two companies will be run seperatly.

mr_skinflint

If someone has over £35K savings in HBOS, where do they currently stand? Is it too late to transfer some funds to get down to the guarantee level of £35K. Also, if the guarantee is set at £35K does that mean that is all the saver will get or is it a minimum?
thanks