"Basic" bank account - can they ever be upgraded? - Update 29/10 - Closing account!!

jambosans

pauli wrote: »

I've actually heard that Lloyds bought out the Halifax, is that true? Because if that's the case then i'm going to be stuffed sooner or later with Lloyds because they may offset too as i owe money on a halifax CC - aargh never ever get in debt, that's the lesson i've well and truly learnt!

Yes. HBOS (Halifax Bank of Scotland) is now part of the Lloyds Banking Group (which includes Lloyds TSB). I don't believe the T&C's allow the right to offset between LTSB and HBOS yet, but would say it is inevitable this will change (if it hasn't already).

pauli

jambosans wrote: »

Yes. HBOS (Halifax Bank of Scotland) is now part of the Lloyds Banking Group (which includes Lloyds TSB). I don't believe the T&C's allow the right to offset between LTSB and HBOS yet, but would say it is inevitable this will change (if it hasn't already).

Hmmm :undecided i think that thought combined with the fact that my card didn't work in Tesco and it has just not let me make a payment using online banking even though there are funds in the account is making Yorkshire Bank more attractive by the second!

simax

jambosans wrote: »

Yes. HBOS (Halifax Bank of Scotland) is now part of the Lloyds Banking Group (which includes Lloyds TSB). I don't believe the T&C's allow the right to offset between LTSB and HBOS yet, but would say it is inevitable this will change (if it hasn't already).

I've heard that 20th November is the date that HBOS and LTSB start combining their data together and the right of offset will apply from then on.

Think it was somewhere on here it was mentioned. Just a heads up

powerone

Heng_Leng wrote: »

If the OP has had problems with NatWest, this is unlikely to be a good idea.

Either it will be refused at application or the Account Verification Unit (AVU) will likely pick up on a RBS group debt and close the account later on.

What about Nationwide or Yorkshire Bank? - neither are linked to major UK groups.

I owed thousands to Natwest during my bad time.

I managaed to opened a full bank account with RBS, okay without a debit card. Just the basic card. This was a couple of years ago though.

powerone

simax wrote: »

I've heard that 20th November is the date that HBOS and LTSB start combining their data together and the right of offset will apply from then on.

Think it was somewhere on here it was mentioned. Just a heads up

Yes I have heard that as well. I have only seen it one. I dont know if this is a urban myth or reliality. I shall see what happens to my Lloys account.

So much for the previous govt wanting to expand the banking sector and making things easy for everyone.

jambosans

simax wrote: »

I've heard that 20th November is the date that HBOS and LTSB start combining their data together and the right of offset will apply from then on.

Think it was somewhere on here it was mentioned. Just a heads up

The revised LTSB T&C's (link) which come into effect on 02/12/10 (along with the new overdraft charges) states:-

Lloyds_TSB wrote:

2.7 In this agreement, “we” are Lloyds TSB Bank plc or Lloyds TSB Scotland plc. We will have told you which company is providing a particular account or other service when you applied for it.

[...]

17. Using money between accounts (set-off)

17.1 If any money you owe us (for example on a loan, credit card, mortgage, overdraft or otherwise, under the Lloyds TSB brand or another brand such as Cheltenham & Gloucester) is overdue for payment, we may use any money you have in any of your accounts with us to reduce or repay (by way of set-off or otherwise) what you owe us.

This does suggest the contrary, that they cannot offset with other companies within the group - i.e. Bank of Scotland plc will operate as a separate entity (with it's own banking licence) with Halifax being retained as a brand.

The new T&C's do make reference to the sharing of information between Lloyds Banking Group companies, but not in respect of the right of set-off (from what I've read).

Just a bit of an insight for anyone who's interested.

pauli

Offsetting aside I am closing my Lloyds TSb account as soon as i've opened a basics one with the Yorkshire Bank (if they'll have me) I ended up having a huge row on the phone with Lloyds just before I left work yesterday and still can't quite believe they did what they did:

As I'd mentioned in my earlier post, my card hadn't worked on wednesday night in tesco express but i didn't think too much of it, then about 4 o'clock yesterday i tried transferring £15 into my fiances bank account using faster payments and it kept saying it was unsuccesful, so i gave them a ring and asked if there was a problem with my account and after 30 minutes hanging on while they looked into it (an 0845 number of course) they said my account had been blocked!!!

I asked why and after another 20 minutes was told it was because their so called "quality" control checking department had not received my proof of I.D (even though the account openeing department had acknowledged receiving it or else the account wouldn't have been opened in the first place) so basically THEY had lost my paperwork internally and yet after the account being open for almost a month, after my salary going in and me using the online banking to pay bills and direct debits going out they decided to block my account!

I couldn't even transfer my money back into my old bank account with A&L to withdraw from there as the whole thing was completely locked - i had no money!

They were adamant I had to go back into branch with my I.D even though it was 10 to 5 by then and no branch for miles from where i work, i was nearly in tears and whe she said "well can't you go in with yourID on saturday" i nearly blew my top, i was like it's THURSDAY!! You can't keep my money til Saturday. It was a real stalemate with the woman insisting it was impossible to unblock, I must admit I started shouting and eventually got through to a lovely lady who completely understood it was wrong to penalise me for their administrative error and she unblocked it, she said it will still have to be investigated though so I'm just waiting for them to block it again. I'm drawing the whole lot out just in case, i don't trust them any more. Bankers.

savagej

You are right only Halifax (a trading name of BoS) and BoS productspre-merger can be offset against on another, as with Lloyds TSB products and companies. I was worried about my new BoS Current Account but the Righ of Offset only applies to other products in the Bank of Scotland stable.

scott_lithgows

You might want to consider Yorkshire BS cash transactor account if no joy from Yorkshire bank.No debit card but cashcard which can be used throughout the link network.Accepts wages in and pays D/Ds and S/Os out.No debit card but at least it will let you escape from the big banks monkeying you about.