Co-op Takeover of some branches.

nilrem_2

pqrdef wrote: »

Wouldn't it be fun if the new much bigger Co-op bank got out of its depth and had to be taken over by Lloyds?

Not really No!

scott_lithgows

jennifernil wrote: »

I fail to see how this increases choice for us in Scotland. We lose Lloyds, surely that is less choice?

We already have the Co-op, if I had wanted to bank with the Co-op, I would have opened an account with them!

Although we have Bank of Scotland branches, and could move our Vantage accounts to them, they are currently using the same licence as Halifax, who we also have accounts with, so the £85k protection has to cover all these accounts, whereas Lloyds was separate.

I also have savings accounts for my grandchildren with both Lloyds and Halifax. These can only be operated in a branch at present, so unless that changes, I cannot just move the Lloyds ones to an English Lloyds branch.

BOS do not offer equivalent accounts, they don't have a Kids Regular Saver, and their Young Saver pays 2% compared to 3% at Lloyds and Halifax.

That only leaves me with the Northern Rock Little Rock accounts that pay 3%, and there are very few NR branches in our area. I am hoping, now it is Virgin, that this might change.

As far as I can see the Co-op do not offer good savings rates, so I reckon we will be closing our accounts.

Only co-op in Scotland is in Glasgow and if that is where you are you should see the Yorkshire BS along the road for kids accounts.

jennifernil

Unfortunately, not in the city centre much these days (about once every 2 years!), so YBS is no better than NR in that respect. Their best offer right now is 2% for children, so that would rule them out anyway.

I opened with the NR in Giffnock as that was near where the children lived, but then they moved.

We have 2 Lloyds nearby, so much more convenient.

We will see what the Co-op have to offer before making any decisions, but present offerings are not encouraging.