Lloyds names Co-op as preferred buyer of bank branches

hgt

meatandtwoveg wrote: »

I have a C & G account, i hope all the golden oldies out there, all pensioners, all carefull savers, lobby there MP's for a CO-OP takeover.............For me the best alternative, if we cannot stay under the Lloyds umbrella, which i prefer, but you do not always get what you want in life, i just want my savings back........NBNK, no way, you will lose your shirt under those cowboys....

I should have mentioned that as far as I know, all C&G branches, all LloydsTSB Scotland, and https://www.IF.com are also in scope for the sale to Co-op bank.

jimjames

jennifernil wrote: »

What options do Lloyds customers who do not wish to be sold to anyone have?

I imagine there are quite a few customers that will want to stay with Lloyds. To me it seems taking quite a liberty to sell a bank branch to another company and expect all customers to go with it. I understand it is a EU requirement but it is a totally different situation to a whole bank being bought.

If (and a big if) I am with Lloyds because I like their service/account/facilities I wouldn't be happy being shoved elsewhere and would take the option to stay with the bank regardless of the branch my account is serviced at.

jennifernil

pqrdef wrote: »

Isn't Bank of Scotland now the Scottish name for Lloyds?

Not really. We have Bank of Scotland, England, Wales and NI have Halifax.

Accounts are not exactly the same, BOS has accounts similar to Lloyds Vantage, Halifax has the Reward accounts.

Halifax has the 6% Kids regular Saver, with BOS all you get offered is a Young Saver that pays 2%. and since children's accounts can only be opened in the branch, most Scottish children are now excluded from this account.

You can of course travel to, say, Carlisle and open one, or get a relative living south of the border to open one, but it's not exactly convenient.

Pretty sure there must be other account differences, but those are the ones that affect us.

With Lloyds, kids get a better deal, their Young Saver pays 3%, but it's banch based only, so once our branches go, we cannot have it either.

Equally good for children is Northern Rock, again branch based, our nearest branch is 10 miles away, not exactly convenient. What will happen when Virgin takes over, who knows.

If Co-op will offer decent rates, fine, but I haven't noticed them doing that.

I do feel our choices are being restricted. BOS and Halifax are under the same licence, so combined for the £85k protection, Lloyds is separate so offers an alternative and some good accounts as far as we are concerned.

We will move our Vantage accounts to an English branch, but it seems our grandchildren are going to lose out yet again.

jennifernil

jimjames wrote: »

I imagine there are quite a few customers that will want to stay with Lloyds. To me it seems taking quite a liberty to sell a bank branch to another company and expect all customers to go with it. I understand it is a EU requirement but it is a totally different situation to a whole bank being bought.

If (and a big if) I am with Lloyds because I like their service/account/facilities I wouldn't be happy being shoved elsewhere and would take the option to stay with the bank regardless of the branch my account is serviced at.

Yes, exactly our thoughts.