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

jonesMUFCforever

Chrisblue1962 wrote: »

Basically, at the moment my Co-op Cashminder account has an online debit card but can use any cashpoint and my Lloyds TSB basic account has an offline debit card but I can only use Lloyds TSB cashpoints..

So, I'd be hoping that the "New TSB" would allow basic account holders to have an offline debit card with a cashpoint card which can be used anywhere...well, I can dream

I'm sure you meant to say LTSB cashpoint AND Halifax AND BOS AND Post offices and get cashbacks at supermarkets.:D

pmduk

Why not just apply now for a co-op cashminder if you don't like to play hunt the permitted atm?

bendipa

jonesMUFCforever wrote: »

The accounts ownership is changing not the sort code or account number and the terms and conditions will be the same until such time as the new owner changes them.
You never know they might be better off long term with the COOP.

The major hassle for customers will be that in certain cases they will no longer be able to use Lloyds branches when the accounts have been transferred.

The 'Lloyds' branches will become Co-op branches in 2013. So presumably the name of each branch will be changed to Co-op. After all Co-operative Bank bought these branches from Lloyds. So those Lloyds customers who are transferred to the Co-op will be subject to the Co-op rules. I'd be surprised if the sort code for these customers isn't eventually changed to the Co-op sort code, as I can't see how the Co-op will be running 2 independent sets of customers one of which will be subject to Lloyds T&C. I don't think the Co-op bank run a Cashminder account any longer. It's just a standard current account according to their blurb.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368227,CFSweb/Page/Bank-CurrentAccounts.

EarthBoy

bendipa wrote: »

I don't think the Co-op bank run a Cashminder account any longer. It's just a standard current account according to their blurb.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368227,CFSweb/Page/Bank-CurrentAccounts.

You forgot to look under "other accounts" where you will find details of the Cashminder:
http://www.co-operativebank.co.uk/servlet/Satellite/1193206368743,CFSweb/Page/Bank-CurrentAccounts

Jaycee_Dove

emuzeg wrote: »

Hmm well i like the current account with vantage interest rates with lloyds so want to stay!!

I think you might need to be concerned.

I had a reply to my official request to stay today. Full details in the other threads.

But basically it says they are making it hard to stay. And you will have to close your account, apply for a new one as a brand new customer, be fully credit checked and be entitled to no privileges of your current deal with Lloyds TSB such as an agreed overdraft, Plus any accounts you hold that are not offered to new applicants today will not be available if you choose to stay. As a brand new Lloyds customer (even if, like me, in reality you have continuously been one of these for 35 years) then you can only get an account that is available to newbies today.

Pretty shabby way to treat customers who are being put in this situation through no fault of their own.

callum9999

Jaycee_Dove wrote: »

I think you might need to be concerned.

I had a reply to my official request to stay today. Full details in the other threads.

But basically it says they are making it hard to stay. And you will have to close your account, apply for a new one as a brand new customer, be fully credit checked and be entitled to no privileges of your current deal with Lloyds TSB such as an agreed overdraft, Plus any accounts you hold that are not offered to new applicants today will not be available if you choose to stay. As a brand new Lloyds customer (even if, like me, in reality you have continuously been one of these for 35 years) then you can only get an account that is available to newbies today.

Pretty shabby way to treat customers who are being put in this situation through no fault of their own.

Not really. Annoying I guess, but it's logical. Your account is being sold to a different bank (as they are obliged to by law). You will therefore no longer be a Lloyds customer so logically, should you wish to join again, you will be a new customer and treated like any other new customer.

Jaycee_Dove

callum9999 wrote: »

Not really. Annoying I guess, but it's logical. Your account is being sold to a different bank (as they are obliged to by law). You will therefore no longer be a Lloyds customer so logically, should you wish to join again, you will be a new customer and treated like any other new customer.

With respect that is a pretty forgiving way of looking at things. One which as a customer of only Lloyds for all 35 years of my banking life I am not willing to follow.

I have NOT left. They have sold ME - their customer - against my wishes. It is grossly unfair to have to 'join again' as you put it when the only alternative they offer is for me to bank at a branch of another bank a three hour bus ride away.

Surely you can grasp why this is an enormous imposition for a full time carer for someone who requires 24/7 care and everything doing for them and who has to have a nurse looking after her during the two hours a week that I get to travel by bus to do things like banking.

Suddenly being asked to travel an extra 70 miles to do that or go through hoops to rejoin a bank I have no desire to leave is not exactly great PR.

thatsean

Why don't you rejoin online then?

stclair

thatsean wrote: »

Why don't you rejoin online then?

That a good idea you wont even have to leave the house then.

stclair

Jaycee_Dove wrote: »

With respect that is a pretty forgiving way of looking at things. One which as a customer of only Lloyds for all 35 years of my banking life I am not willing to follow.

I have NOT left. They have sold ME - their customer - against my wishes. It is grossly unfair to have to 'join again' as you put it when the only alternative they offer is for me to bank at a branch of another bank a three hour bus ride away.

Surely you can grasp why this is an enormous imposition for a full time carer for someone who requires 24/7 care and everything doing for them and who has to have a nurse looking after her during the two hours a week that I get to travel by bus to do things like banking.

Suddenly being asked to travel an extra 70 miles to do that or go through hoops to rejoin a bank I have no desire to leave is not exactly great PR.

Where do you live to have to travel 70 miles to your next nearest branch?