MSE News: Lloyds to sell 632 branches to Co-op: what it means for you

engagedlady

Husband received letter today telling him his old branch is moving. This is his current account held at his hometown branch, our joint account and savings were opened with our (now)local branch.

Just annoyed that there's no opt out, and the customer now needs to close and open accounts in order to stay with lloyds.

Jaycee_Dove

callum9999 wrote: »

I'm confused. What exactly is happening to your branch then? You're being sold but the branch is still going to operate as Lloyds?

Because Lloyds did not move my account when we moved from England to Wales 11 years ago despite my asking them to do so at the time.... They said that they no longer operated a branch system and so no longer had a policy to switch accounts if you moved home.

So my account is registered at a town 100 miles from where I have lived for all the 21st century and is inaccessible several train rides away. So of course I have always visited my local Welsh branch (5 miles away) and bought my ISA there (though I am told it is registered to my old branch despite Lloyds claim there is no branch policy - hence no transfers.

Now that OLD branch is being sold on but the branch in Wales where I have visited every week for over a decade is not.

When I became a full time carer 9 years ago I moved my mum's accounts to Lloyds so all our banking was in one place because I only get 2 hours per week whilst Crossroads look after her and I can travel by bus several miles to do shopping/banking and so need everything in one spot.

So I opened that transfer to Lloyds at my local branch so her accounts are now unaffected even though she only moved to Lloyds when I transferred her there from Nat West.

I myself have been with Lloyds for 35 years but am being moved simply because they failed to switch my account those 100 miles when I moved to Wales 11 years ago due to their claim that it no longer mattered.

Of course, this situation was unforeseen, but their decision to decline to transfer people to register at local branches when they moved large distances has created this mess now because it leaves some people being moved to a bank that has no branches anywhere near where they now live (assuming Coop do take over).

Knowing all this since July I have been trying since then to get Lloyds to reregister my account from England to the unaffected branch in Wales where (as they know) I have banked since we moved house.But they stick by their no registering argument and have declined to do so.

Many people will thus find themselves being sold on because a branch at somewhere they lived at years ago is moving even when their local branch now is not.

This is why we are awaiting how they resolve this issue that THEY have created by their none transfer policy.

Obviously, if you live near a branch being sold then that branch will become a Coop next year and your choices are to stay with your branch (and so move to Coop) or try to stay with Lloyds by transferring to another nearby branch that is not being sold.

As I have been trying to point out on here for some time now this disadvantages those whose local branch is not being sold but their nominally registered branch IS being. As we cannot choose to stay with our branch when it becomes a Coop as we may live nowhere near to it and might not have a Coop anywhere near us at all either. I suspect my 100 miles problem is easily dwarfed by someone who has moved from Scotland to Cornwall say in the past decade.

That is the position we are in and - I am told - so are a lot of people who got this letter being surprised to be told they are being sold as part of a branch they no longer realised was officially considered to be 'theirs'.

I did realise - which is why I tried to get reregistered at my local Welsh branch months ago. But they have continually cited their policy of not switching branches. The very thing we now have to do to avoid this sale.

callum9999

Jaycee_Dove wrote: »

Because Lloyds did not move my account when we moved from England to Wales 11 years ago despite my asking them to do so at the time.... They said that they no longer operated a branch system and so no longer had a policy to switch accounts if you moved home.

So my account is registered at a town 100 miles from where I have lived for all the 21st century and is inaccessible several train rides away. So of course I have always visited my local Welsh branch (5 miles away) and bought my ISA there (though I am told it is registered to my old branch despite Lloyds claim there is no branch policy - hence no transfers.

Now that OLD branch is being sold on but the branch in Wales where I have visited every week for over a decade is not.

When I became a full time carer 9 years ago I moved my mum's accounts to Lloyds so all our banking was in one place because I only get 2 hours per week whilst Crossroads look after her and I can travel by bus several miles to do shopping/banking and so need everything in one spot.

So I opened that transfer to Lloyds at my local branch so her accounts are now unaffected even though she only moved to Lloyds when I transferred her there from Nat West.

I myself have been with Lloyds for 35 years but am being moved simply because they failed to switch my account those 100 miles when I moved to Wales 11 years ago due to their claim that it no longer mattered.

Of course, this situation was unforeseen, but their decision to decline to transfer people to register at local branches when they moved large distances has created this mess now because it leaves some people being moved to a bank that has no branches anywhere near where they now live (assuming Coop do take over).

Knowing all this since July I have been trying since then to get Lloyds to reregister my account from England to the unaffected branch in Wales where (as they know) I have banked since we moved house.But they stick by their no registering argument and have declined to do so.

Many people will thus find themselves being sold on because a branch at somewhere they lived at years ago is moving even when their local branch now is not.

This is why we are awaiting how they resolve this issue that THEY have created by their none transfer policy.

Obviously, if you live near a branch being sold then that branch will become a Coop next year and your choices are to stay with your branch (and so move to Coop) or try to stay with Lloyds by transferring to another nearby branch that is not being sold.

As I have been trying to point out on here for some time now this disadvantages those whose local branch is not being sold but their nominally registered branch IS being. As we cannot choose to stay with our branch when it becomes a Coop as we may live nowhere near to it and might not have a Coop anywhere near us at all either. I suspect my 100 miles problem is easily dwarfed by someone who has moved from Scotland to Cornwall say in the past decade.

That is the position we are in and - I am told - so are a lot of people who got this letter being surprised to be told they are being sold as part of a branch they no longer realised was officially considered to be 'theirs'.

I did realise - which is why I tried to get reregistered at my local Welsh branch months ago. But they have continually cited their policy of not switching branches. The very thing we now have to do to avoid this sale.

So all you have to do is open up new Lloyds accounts for yourself? You could easily have done so in the time you've been complaining about it on here!

While I see your point of view that you shouldn't have to do it, I really don't see it as a remotely arduous task - regardless of your caring requirements (which although you keep describing it, really have very little to do with the problem).

Jaycee_Dove

callum9999 wrote: »

So all you have to do is open up new Lloyds accounts for yourself? You could easily have done so in the time you've been complaining about it on here!

While I see your point of view that you shouldn't have to do it, I really don't see it as a remotely arduous task - regardless of your caring requirements (which although you keep describing it, really have very little to do with the problem).

But I CANNOT open up new Lloyds accounts. That is the whole point. I have been trying since July and LLoyds will not let me. They say it is not allowed to close down and open up a new account at this time as they have to sell on their customers being transferred and not the branches.

I tried to close my account and reopen a new one and was told that they could not permit this and I had to await what procedures might be put in place next year.

This is why I have been posting if you read the thread.

As for my caring responsibilities having very little to do with it - with respect they have everything to do with it as I have tried to explain. It is why I want stability. It is why I have to keep all accounts at a nearby branch within a short bus ride away. It is why I either have to ensure my accounts stay at Lloyds or I move all mine and my mothers accounts to another bank. This is why I have been trying to get help from Lloyds to do one or the other and being told that the only thing I can do right now is close all of our accounts and move to a different bank.

It may come to that, but I want to stay with Lloyds and will only move away if I have no other choice.

Hence my frustration....and posting here so that others can see the problems this sale of branches is creating. Which is really what the thread is about I would have thought.

jackjones01

Just open another separately and let them run side by side. I have got two lloyds account under different sortcodes. The bank have already said in their second letter if you want to stay with lloyds you will have to open a new account according to one of your previous posts.

dalesrider

Jaycee_Dove wrote: »

But I CANNOT open up new Lloyds accounts. That is the whole point. I have been trying since July and LLoyds will not let me. They say it is not allowed to close down and open up a new account at this time as they have to sell on their customers being transferred and not the branches.

I tried to close my account and reopen a new one and was told that they could not permit this and I had to await what procedures might be put in place next year.

This is why I have been posting if you read the thread.

As for my caring responsibilities having very little to do with it - with respect they have everything to do with it as I have tried to explain. It is why I want stability. It is why I have to keep all accounts at a nearby branch within a short bus ride away. It is why I either have to ensure my accounts stay at Lloyds or I move all mine and my mothers accounts to another bank. This is why I have been trying to get help from Lloyds to do one or the other and being told that the only thing I can do right now is close all of our accounts and move to a different bank.

It may come to that, but I want to stay with Lloyds and will only move away if I have no other choice.
.

We hear what you are saying. But Lloyds have their hands tied here.
If they are seen to be assisting customers to stay, in any way at all. They will get fined as well as risk the sale falling through... Again that will cause them massive grief in all ways.

TBH.
Your best bet is to see what the other local banks can offer you in terms of branch service. Then move to them.
Or take up one that offers good internet banking.

You could do a switch to another bank and then after a couple of months switch back to LLoyds if you really want to stay with them.
But if you are going to do that. Sign up via internet.

Thrugelmir

Jaycee_Dove wrote: »

as they have to sell on their customers being transferred and not the branches.

Lloyds have to reduce their share of the UK personal accounts. All part of a directive from the EU following the bail out of HBOS. Once the sale is complete. Then Lloyds will be open for business again.

callum9999

Jaycee_Dove wrote: »

But I CANNOT open up new Lloyds accounts. That is the whole point. I have been trying since July and LLoyds will not let me. They say it is not allowed to close down and open up a new account at this time as they have to sell on their customers being transferred and not the branches.

I tried to close my account and reopen a new one and was told that they could not permit this and I had to await what procedures might be put in place next year.

This is why I have been posting if you read the thread.

As for my caring responsibilities having very little to do with it - with respect they have everything to do with it as I have tried to explain. It is why I want stability. It is why I have to keep all accounts at a nearby branch within a short bus ride away. It is why I either have to ensure my accounts stay at Lloyds or I move all mine and my mothers accounts to another bank. This is why I have been trying to get help from Lloyds to do one or the other and being told that the only thing I can do right now is close all of our accounts and move to a different bank.

It may come to that, but I want to stay with Lloyds and will only move away if I have no other choice.

Hence my frustration....and posting here so that others can see the problems this sale of branches is creating. Which is really what the thread is about I would have thought.

So you've been blacklisted and if you fill out a new account application on the website, you get declined? You've been posting about a very specific request you made to them - I don't think you've ever said that you tried to open a new account and been denied.

Until you confirm that you've been blacklisted from Lloyds, it has nothing to do with it. You clearly have regular access to the internet, so your caring responsibilities aren't stopping you from what, until demonstrated wrong, I see as a clear and easy solution to your problem. Of course they are relevant to HOW you want to do your banking - but not to this specific aspect of it. Open a new account - I really cannot see how, or why, they'd stop you.

stclair

callum9999 wrote: »

So you've been blacklisted and if you fill out a new account application on the website, you get declined? You've been posting about a very specific request you made to them - I don't think you've ever said that you tried to open a new account and been denied.

Until you confirm that you've been blacklisted from Lloyds, it has nothing to do with it. You clearly have regular access to the internet, so your caring responsibilities aren't stopping you from what, until demonstrated wrong, I see as a clear and easy solution to your problem. Of course they are relevant to HOW you want to do your banking - but not to this specific aspect of it. Open a new account - I really cannot see how, or why, they'd stop you.

I'm sure the OP said in a previous post they was advised they would have open a new account at a branch is not being transferred to stay as a customer. Which is totally contradicting what that they are saying now. Plus so far they are the only person who has received this second letter from Lloyds. I'm suspecting it may possibly not be the second letter and just a response to their complaint.

The divestment team on 0800 015 0024 have also said if you want to stay with Lloyds you need to open a new account as a new customer. They also said a form can be sent to register your interest to stay.

callum9999

stclair wrote: »

I'm sure the OP said in a previous post they was advised they would have open a new account at a branch is not being transferred to stay as a customer. Which is totally contradicting what that they are saying now. Plus so far they are the only person who has received this second letter from Lloyds. I'm suspecting it may possibly not be the second letter and just a response to their complaint.

The divestment team on 0800 015 0024 have also said if you want to stay with Lloyds you need to open a new account as a new customer. They also said a form can be sent to register your interest to stay.

It sounds like they went in and asked for the branch staff to close her account and reopen one - so basically just asking to transfer branches in a convoluted way, which is why they said no.

Which is why I don't see why they are refusing to just apply for another account (either in branch, or if they refuse by phone or internet). As you say, Lloyds have said you can remain a customer if you open a new account, and I haven't been corrected so far so I'm assuming it's possible to do now. Yes she'll have different account numbers, but for some unknown reason she needs to do a lot of stuff in branch so it doesn't sound like she really uses that account for many direct debits etc. that would be too complex to transfer over to a new account.