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MSE News: Lloyds TSB's partial re-think over basic account cash access

This is the discussion thread for the following MSE News Story:

"Basic bank account customers will soon have access to all ATMs within the Lloyds Banking Group ..."
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Comments

  • jonesMUFCforever
    jonesMUFCforever Forumite Posts: 28,898
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    Why is it a partial rethink?

    IMO purely a business decision because using each other's atm's cost the banks less than withdrawing from a rival one(including post offices).
    As Lloyds and HBOS now use the same account systems it makes sense.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    I would hazard a guess it has been on the agenda for nearly three years.

    I doubt any rethink of any sort has taken place.

    They've merged the systems and now they're building on the new capability that gives them.
  • yorkshirekev
    yorkshirekev Forumite Posts: 94 Forumite
    So the banks get into financial trouble and they get a bail out. When people get into trouble and ruin their credit rating they become a pariah.

    Sounds really fair.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    So the banks get into financial trouble and they get a bail out. When people get into trouble and ruin their credit rating they become a pariah.

    Sounds really fair.
    Thanks for your totally uninformed contribution.

    1) Lloyds TSB have restricted access to their own ATMs since 2006. Long before there was any need for any bailout.

    2) Lending to people / businesses who didn't pay back is the reason why LBG (predominantly the HBOS part) needed a bailout. So why do you think they should welcome people with poor credit ratings in any way, shape or form?

    3) This initiative actually improves ATM access for the "pariah" you mention above.

    If the Lloyds TSB ATM access doesn't do it for you, go bank elsewhere.
  • davethorp
    davethorp Forumite Posts: 1,576
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    Worth mentioning that other banks are also sending their basic customers back in time to pre 1990s and only allowing use of group ATMs. Natwest/RBS recently did this though in my case I have gone to bank elsewhere having been point blank refused an upgrade to the proper account despite 5 years of clear account conduct with them.

    Ironically I've moved to Lloyds TSB who have given me a full account with full ATM access

    Anyone who can't move to an account with another bank can usually open a savings account which comes with an ATM card to work around the problem
  • yorkshirekev
    yorkshirekev Forumite Posts: 94 Forumite
    opinions4u wrote: »
    Thanks for your totally uninformed contribution.

    1) Lloyds TSB have restricted access to their own ATMs since 2006. Long before there was any need for any bailout.

    2) Lending to people / businesses who didn't pay back is the reason why LBG (predominantly the HBOS part) needed a bailout. So why do you think they should welcome people with poor credit ratings in any way, shape or form?

    3) This initiative actually improves ATM access for the "pariah" you mention above.

    If the Lloyds TSB ATM access doesn't do it for you, go bank elsewhere.

    Thank you for your abrupt love-letter to Lloyds TSB. The reason why they should welcome people with poor credit ratings with basic accounts is because they are people.

    I understand that you may be happy with the present situation, but the restriction of banking facilities is not going to do anything to help those in trouble remove themselves from it. People may live in small towns and villages where there is only one ATM (probably not a post office)

    My point and the principle remains the same. People in trouble - hit them hard - financial institutions in trouble - Tea sympathy and crumpets.
  • Dave_C_2
    Dave_C_2 Forumite Posts: 1,827 Forumite
    edited 5 December 2011 at 2:27PM
    Sorry, please ignore.
  • tifo
    tifo Forumite Posts: 1,808
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    opinions4u wrote: »
    2) Lending to people / businesses who didn't pay back is the reason why LBG (predominantly the HBOS part) needed a bailout.

    It was more to do with the global banking casino they played with customers' money that lost them our money.

    And if they lent irresponsibly, to people who clearly may not be able to pay it back, who's fault is that?
  • Ten98
    Ten98 Forumite Posts: 45 Forumite
    There's some very interesting assumptions being made in this thread...

    The news is that Lloyds is opening up cashpoint access to *Basic* account holders from just its own ATMs to every bank in the Lloyds TSB group.

    "Basic" account holders *are* pretty much pariahs. "Basic" is a bit of a misnomer, really they should be called "Red Card" or "Bankruptcy" accounts, as they are only offered to those who have been declared bankrupt or are in so much trouble with debtors that they are as good as bankrupt... The banks are forced to offer these accounts by the govt, as it is pretty much impossible to live these days without a bank account, if they had a choice they would just refuse them altogether.

    If anything, restricting these people, who have a track record of being crap with money, from getting money out from a shady portable cashpoint installed in a pub, amusement arcade or betting shop or is in their best interest!

    All this bleeding heart nonsense about the "most vulnerable" needing help is a load of old tosh. Nobody ever forces people to go into debt, get in trouble and end up with a basic account, it's all your own choices that lead to that situation.

    If you make bad decisions, live beyond your means and fail to pay what you owe, then you don't deserve to be treated the same as us who only spend what we can afford. If it was up to me I would give them a card that only worked in their local branch!
  • circuit
    circuit Forumite Posts: 508 Forumite
    Anyone who uses the phrase 'bleeding heart' is pretty much guaranteed to be talking nonsense.

    I presume it's in a pensioner's interest to prohibit them from being able to withdraw cash at a location close to their home?
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