MSE News: Lloyds Banking Group - We can be one of the best for service

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
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  • ThrugelmirThrugelmir Forumite
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    Esoog wrote: »
    Guy, I can't believe MSE have missed the chance to question them about the PPI repayment fiasco

    Majority of PPI provision originated from the sales tactics of HBOS (2002-2008). So little point of raking over old ground. Will take "Lloyds" some time to turn the business around (i.e. change the culture) of the old business.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • pmdukpmduk Forumite
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    MSE_Guy wrote: »
    This is the discussion thread for the following MSE News Story:

    "In a candid interview with Lloyds's director of customer service, he promises change, including extended branch hours ..."
    Why talk about it, just do it!
  • opinions4uopinions4u
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    Thrugelmir wrote: »
    Majority of PPI provision originated from the sales tactics of HBOS (2002-2008). So little point of raking over old ground. Will take "Lloyds" some time to turn the business around (i.e. change the culture) of the old business.
    Lloyds sold significantly more in the way of personal loans. If I was a betting man, I'd suggest that Lloyds TSB will be the source of more of the PPI payouts than Halifax and BoS combined.
  • src007src007 Forumite
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    In my line of work, I deal with all the banks.

    Lloyds wins hands down as the worst of the major banks for customer service. I go out my way to tell people to avoid this bank.

    Saying this Halifax are ok but Blackhorse (owned by Lloyds) are a really nasty company (avoid).
  • ThrugelmirThrugelmir Forumite
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    opinions4u wrote: »
    Lloyds sold significantly more in the way of personal loans. If I was a betting man, I'd suggest that Lloyds TSB will be the source of more of the PPI payouts than Halifax and BoS combined.

    HBOS was top of the mortgage lending league for a number of years.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • opinions4uopinions4u
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    Thrugelmir wrote: »
    HBOS was top of the mortgage lending league for a number of years.
    Indeed. But it boils down to who's doing the selling. And don't forget Lloyds TSB and C&G brands were not exactly small in the world of mortgages.

    Lloyds TSB staff sold their loans. Very little came through third parties.

    HBOS mortgages, while clearly sold through branches, call centres and their own estate agency, relied heavily on the intermediary market to bring in lending to Halifax, BoS, TMB and Birmingham Midshires brands. Not sure about IF. Any PPI sale was usually made by the broker in these cases.

    Additionally, the overwhelming majority of PPI complaints in the industry centre around unsecured lending.

    Lloyds TSB was a personal loan machine pre-Credit Crunch.
  • [Deleted User][Deleted User] Forumite
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    Can be "one of" the best, eh? Not "we're going to slap first direct" then?
  • opinions4uopinions4u
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    Can be "one of" the best, eh? Not "we're going to slap first direct" then?
    First Direct is a niche player in a niche market. 500,000 current accounts compated to several million in LBG.

    Their cost base is different to that of a multi-channel operation like Lloyds TSB or Halifax and this allows them to focus on the service side.

    To compete soley on service with FD would involve a massive investment in staff numbers, especially in telephone banking. It's fairly clear that a firm that has already cut 27,000 jobs in less than 3 years, and plans to add 15,000 to that number over the next 2 years, is not going to be adding thousands to the payroll.

    There's no chance of them competing with FD on service. So not worth claiming that you're going to.
  • beamerguybeamerguy Forumite
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    Esoog wrote: »
    Guy, I can't believe MSE have missed the chance to question them about the PPI repayment fiasco (ie people who lloyds have agreed they have mis-sold to and have made offers..) Have a look on the PPI board and check out the scores of complaints about Lloyds and their downright lies and utter failure in being able to give anyone any information at all.

    The 21 day payment deadline has been passed for many (I suspect thousands of people), people are bombarding customer service and the CEO with emails and phone calls and are getting processed ahead of people that have been patiently waiting for payments, it really is a joke. Have a read of some of the tales people are telling - and being told by Lloyds!

    Here's some links to get you started!

    http://forums.moneysavingexpert.com/showthread.php?t=3571677

    http://forums.moneysavingexpert.com/showthread.php?t=3562365

    http://forums.moneysavingexpert.com/showthread.php?t=3562365

    Total disgrace.

    100% AGREE WITH YOU ....
    Lloyds TSB = FRAUD = LIES = FAILURE = ANTONIO OSORIO, CEO = IGNORANT
  • beamerguybeamerguy Forumite
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    I am with Lloyds TSB so skeptical as I moved from HSBC after a bad experience after 20 years.

    Best be skeptical, Lloyds TSB are a lousy bank with poor staff who lie
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