Co-op Takeover of some branches.

agrinnall

realaledrinker wrote: »

I was under the impression that the deal involved branches with a sort code beginning 77-XX-XX (old TSB sort codes) rather than 30-XX-XX.

Anything else would be a nightmare to separate out.

I don't know what sortcodes are involved, but having a wider range would be no more of a nightmare than the sale of RBS and NatWest branches to Santander - mind you, we don't yet know just how much of a nightmare that will actually be!

LV_Sue

I have banked with TSB then LloydsTSB for over 50 years. My original account was set up in Morden, Surrey then transferred to North Cheam. When this branch closed all accounts were transferred to Sutton, Surrey. Although Sutton is officially the branch where my account is held, I have never even been there as it is miles away from where I now live. The Sutton branch is on the list to be transferred to the Co-op, but there are no Co-op bank branches anywhere near where I live. What happens if I need to go and speak to my bank. Obviously I won't be able to use my local LloydsTSB branch any more - or will I?

joegw

I was going to close my lloyds account today as I have another account elsewhere. Should I keep it open? Will account holders get anything from the sale?

MABLE

Looks like my branch's in Bracknell and Reading will not be affected.

waddy80

All affected customers will be getting a letter, explaining what will happen. My sole acc is a Lloyds tsb, but my mortgage & joint acc were both taken out in a branch included in the sale. No one knows what will happen.

Also all staff are included in the sale, so it does mean that they will be staying with the branch.

embob74

I'm an existing Co-op account holder and haven't heard anything about this! I'm hoping that means it won't affect existing customers adversely.
For those who are worried about a lack of a local branch - my local branch closed 12 years ago along with many others (hopefully I'll be able to use one of the old Lloyds branches soon). I believe Co-op to be very good for telephone and internet banking. I use both regularly.
I can use the post office to withdraw cash or deposit cash or cheques. I like the ethical policy of the Co-op and hope that they will be a co-operative bank that invests in its customers rather than another greedy bank that pays out to shoddy banking executives!

terry2

realaledrinker wrote: »

The 632 branches the Co-op are buying ( .... ex-TSB branches in England ... )
.

Not so - in Newcastle they are selling the old Lloyds branch and keeping the old TSB branch (a strange decision given the buildings concerned).

goalhanger

What will happen do you think if there is a Co-op and a C&G branch next to each other ? I suspect the C&G branch will close , but this is not mentioned in the press releases. My son works in such a C&G branch and has no idea what will happen.
Thanks

YoYoY

terry2 wrote: »

Not so - in Newcastle they are selling the old Lloyds branch and keeping the old TSB branch (a strange decision given the buildings concerned).

Newcastle? I always thought that was in Scotland!

Stuart_W

goalhanger wrote: »

What will happen do you think if there is a Co-op and a C&G branch next to each other ? I suspect the C&G branch will close , but this is not mentioned in the press releases. My son works in such a C&G branch and has no idea what will happen.
Thanks

Not necessarily. This will be an exceptionally gradual process. The first thing will be all affected branches will be rebranded to TSB next summer. Lloyds are separating off infrastructure for all these branches.

It looks like it will in fact be existing Co-op customers that will eventually be "migrated" to the TSB infrastructure when full merger commences - but this is not expected to begin until 2015 at the earliest. It will not be a rushed process, and should in theory be all behind the scenes in terms of how it affects customers.

Britannia and Co-op branches still operate on each other's doorsteps in plenty of towns and cities at the moment. My Co-op Bank mortgage is now effectively being managed by what was the Britannia Building Society. Other than a change of address on my mortgage statements, everything else has been seemless and "behind the scenes".