Lloyds TSB

Azrael_1701

scottishblondie wrote: »

We do have Halifax branches in Scotland. I use 2 regularly in Glasgow, as well as the BoS branches. I hold both Halifax and BoS accounts.

I can't see that they can just migrate our accounts to another part of the banking group without doing a full merger. Has it actually happened to anyone?

It will be happening after the full merger is completed next year, FYI the merger has already started.

jambosans

scottishblondie wrote: »

We do have Halifax branches in Scotland. I use 2 regularly in Glasgow, as well as the BoS branches. I hold both Halifax and BoS accounts.

Scottish branches will be rebranded simply as Bank of Scotland, although as far as I was aware, the majority of HBOS (Halifax Bank of Scotland) branches in Scotland are dual-branded anyway.

scottishblondie wrote: »

I can't see that they can just migrate our accounts to another part of the banking group without doing a full merger. Has it actually happened to anyone?

Are you referring to your Halifax accounts? I will assume that's what you mean from your post (as you don't mention Lloyds TSB). If this is the case then there's no merger required. Halifax is a brand name for Bank of Scotland, so your Halifax and BoS accounts are held on the same system, use the same Online, etc.

scottishblondie

jambosans wrote: »

Scottish branches will be rebranded simply as Bank of Scotland, although as far as I was aware, the majority of HBOS (Halifax Bank of Scotland) branches in Scotland are dual-branded anyway.



Are you referring to your Halifax accounts? I will assume that's what you mean from your post (as you don't mention Lloyds TSB). If this is the case then there's no merger required. Halifax is a brand name for Bank of Scotland, so your Halifax and BoS accounts are held on the same system, use the same Online, etc.

Yes I'm aware that HBOS operate as one, the division is really only a public perception. I was trying to make the point that there are still Halifax branches in Scotland. I actually have a branch around the corner which only says "Halifax", and one a bit further down that only says "Bank of Scotland", although obviously both branches deal with all accounts and have advertising for both.

I did not made myself clear on my other point - I hold Lloyds accounts too and it was those I was referring to. I don't quite see how they could "migrate" my Lloyds accounts to BoS accounts simply due to the fact that I live in Scotland and they're selling off our Lloyds branches. Have I misunderstood what savagej is saying? And perhaps I should rephrase - is this actually happening?

savagej wrote:

in Scotland all LTSB Scotland accounts are going to be migrated to Bank of Scotland accounts and the LTSB Scotland branches sold off

jambosans

scottishblondie wrote: »

I have not made myself clear on my other point - I hold Lloyds accounts too and it was those I was referring to. I don't quite see how they could "migrate" my accounts to BoS accounts simply due to the fact that I live in Scotland and they're selling off our Lloyds branches. Have I misunderstood what savagej is saying?

savagej is speculating. There has been no announcement as to what's going to happen to existing Lloyds TSB customer's in Scotland. Unusually enough, Lloyds TSB Scotland is technically a separate entity to Lloyds TSB in England and Wales (I think - but may stand corrected - LTSB Scotland has it's own banking licence). So when the Scottish branches are sold, Lloyds TSB Scotland customer's may either: have their account's rebranded Bank of Scotland; or remain under the Lloyds TSB brand, but use the BoS branch network.

If I were to take a guess, in the short to medium term, when the branches are sold off, ex-LTSB Scotland customers will keep the branding and use the branch network. When Bank of Scotland harmonise their product range with Lloyds TSB they may rebrand your account.

PNPSUKNET

had a strange call confirming details, he said it would now be passed off to the investigations team?

Azrael_1701

they could be doing some fraud checks on you, heaven knows why...

PNPSUKNET

sounds fun, he said they would call me

System

It's implied that the sale would result in the transfer of accounts to the new owner, not BOS. So all accounts with a 87 sort code would migrate to their new owners and no longer be Lloyds nor become BOS.

Options that I can see include:

• HSBC / Barclays could buy them and re-brand.
• Santander could swallow them up.
• NAB could merge it with Clydesdale to strengthen its position.

jambosans wrote: »

Lloyds Banking Group have confirmed they plan to sell off Lloyds TSB Scotland (see below link):-
http://www.scotsman.com/business/Selloff-of-Lloyds-TSB-branches.5836116.jp

There has been no mention as to the fate of Lloyds TSB Scotland customers after the divestment. It's a natural assumption that these customers will automatically fall under the jurisdiction of Bank of Scotland after the merger and divestments are completed as this will be the only Lloyds Banking Group brand present in Scotland.



Keep in mind as part of any merger Bank of Scotland procedures, back office, and front end (e.g. Online) will most likely be harmonised with Lloyds TSB (seeing as it's less merger, more takeover). Personally I'm the polar opposite of yourself in terms of opinion. I hold accounts with Lloyds TSB and Bank of Scotland, preferring the latter.

jambosans

Heng_Leng wrote: »

It's implied that the sale would result in the transfer of accounts to the new owner, not BOS. So all accounts with a 87 sort code would migrate to their new owners and no longer be Lloyds nor become BOS.

Your absolutely right, the below FAQ (link) on the Lloyds Banking Group website seems to imply this also:-

Lloyds_Banking_Group wrote:

As a customer of Lloyds TSB in Scotland, what will happen to me?
With the proposed sale of Lloyds TSB branches in Scotland, if you hold an account that with one of these branches you will continue to have access to over 180 branches.
The timeline for the sale process may take up to four years. During this time we’d like to assure customers of the branches affected that they shouldn’t expect anything to change. This includes the products you hold with us, the service you receive and your terms and conditions. When the time for sale nears, we will do our very best to keep our customers fully informed. When a sale is agreed, we will ensure that the transfer of customers is handled with sensitivity and care and that any disruption is minimised. If any of these changes impact your terms or conditions you will be free to access your deposit without charge or penalty.

Gives a better answer to LTSB Scotland customers, rather than pure speculation.

jennifernil

What if we do not wish to be transferred? Surely we can still remain Lloyds customers? Accounts that can be operated via the internet do not require the presence of a branch.

I already hold accounts with 3 banks/building societies that have no physical presence in Scotland.