Lloyds TSB/Co-op branch transfers. When will we be told what to do?

Jaycee_Dove

Yes, I appreciate the reasons it is being done but, as explained I need both my account and my mum's in the same bank being her full time carer with very, very limited time to do this sort of thing.

As such I purposefully moved her account into Lloyds TSB several years ago so that I could do all the banking in one place at the same time....but, of course, because I opened that at the branch in North Wales where we live and where I have been going since 2002 that will STAY as a Lloyds account. Mine will move because it was opened at a TSB elsewhere before we moved to Wales and was not switched by LLoyds in 2002 by their choice, not mine.

So something has to move to keep both together. And I want to stay at Lloyds for the reason above and because I have been with them for 30 + years, have shares in the bank, and have other products taken out with them during the past decade and so that might not be 'sold on' as I opened these at the Wales branch.

I think in these circumstances it is not unreasonable to want peace of mind and clarification from Lloyds ASAP.

MoneySaverLog

Why not just close her account with LTSB. Then open up a new account with them as a new customer the following week at your branch?

Jaycee_Dove

It is my account that is on the transfer list. Mums was opened by me at the branch that is staying a Lloyds TSB.

I wanted to transfer mine but they told me not to do so and await the procedures for customers who do not want to leave Lloyds - but that was two months ago and I am still waiting.

And, as noted, I have Lloyds products opened by myself AT the unaffected branch so I have no idea what happens to them if I try to close my original bank account. One is an ISA which is mid run and I could lose interest by trying to close it.

This is why I need guidance from Lloyds and am not getting it. Especially as my account has various direct debits that could create big issues (such as over gas/electric) if not paid - so I was hoping Lloyds would have a smooth way of resolving this issue that they have created for me.

jonesMUFCforever

Apparently there will be a 'centre' to deal with customers such as yourself but please do not get into a tizz about this now there is plenty of time.

dalesrider

Jaycee_Dove wrote: »

I am feeling let down by a lack of communication from the bank I have trusted for so long and should not be needing to read Daily Mail articles or ask for advice on this forum to know what is going on. They have had three months since the announcement and by now should at least have written to all effected customers to give reassurance IMO.

So you think that the Daily mail or this forum.... Know more than Lloyds TSB do.
Daily mail have a great reputation for not exactly being the best on the street for getting the right end of hte stick....

At the moment. Although agreed in principle. I think that this whole transfer is still so far up in the air, that no one really knows how it will pan out. Can you imagine how much more work to be done in the background before this can be sorted.

The final details have not been thrashed out, nor the contracts signed. But, if all goes to plan, from November affected Lloyds customers may start to be notified about the changes.
A few months later, customers should receive more details about how they will be affected.


Read more: http://www.thisismoney.co.uk/money/saving/article-2211951/Guide-Lloyds-Co-op-transfer-affect-you.html#ixzz28jmb5ZFF

At the end of the day.
Do you actually need to have a branch to be able to go into. Or can you like a massive % of the banking userbase do it online or via phone.

So for now. Stop worrying and wait till you get some real facts from the people behind the move.... And not some jurno who has proberly been slipped a £5 to scare people in moving to other banks....:eek:

pmduk

The Daily Mail: All the news fitted to print!

premierfella

I can see why the OP is concerned, but in reality Lloyds TSB has nothing more to tell its customers at the moment, does it?

Even if everything goes ahead with the Co-op the fundamental switch to Co-op won't be until Autumn/Winter 2013, and the start of the process (which is just rebranding of the branches affected - after which there will still be plenty of time to resolve issues such as the OPs before the branches move to Co-op) isn't until next summer.

In the meantime, either Lloyds TSB or Co-op could in theory pull the plug on this deal, so it would be premature of Lloyds TSB to be panicking affected customers at this stage - all the newspaper articles I have read on the sale have made this clear (surely the Daily Mail did the same, or did they conveniently skip over that fact?)

Jaycee_Dove

Thanks for all the helpful replies.

As for why we need a branch. In our circumstances most of our transactions are done by cash so I visit our branch in the two hour window that I get weekly to fund our spending for the next week, eg at the local village shop where time stands still.

Plus I work alongside my full time carer's role as a writer to try to pay the bills and have cheques to pay in from all over the world. So having access to a branch is something I need.

Anyhow, I spoke with a manager at Lloyds today. He was very nice but had nothing more to tell me. However, he did indicate that this was a government order and not something Lloyds actually wanted to do.

He confirmed that the nearest Coop branch would be 40 miles away. But said he hoped there would be a way for me to stay. I made the point that I felt as a 30 year plus loyal customer of this bank I was almost being railroaded by this situation. That is when I was told it was not the bank's desire but orders from above, so to speak.

He also denied knowledge of the story in the Mail about an interim bank created before the sale at which point customers of that half way house would not have access to Lloyds TSB branches.

So that is some relief and I guess patience is required.

dalesrider

Jaycee_Dove wrote: »

He also denied knowledge of the story in the Mail about an interim bank created before the sale at which point customers of that half way house would not have access to Lloyds TSB branches.

So that is some relief and I guess patience is required.

Not sure if what he said is correct. See quote below. But as ever a lot is speculation at the moment as the finer details have yet to be thrashed out.

So from spring 2013 the Lloyds branches will be renamed TSB, but will carry on business as usual.

Although TSB will technically still be owned by Lloyds, it will run entirely separately.

Customers who are with TSB won’t be able to use Lloyds TSB branches and vice versa. Then, from November 2013 — if all goes to plan — TSB will finally separate and become owned by the Co-op

Read more: http://www.thisismoney.co.uk/money/saving/article-2211951/Guide-Lloyds-Co-op-transfer-affect-you.html#ixzz28vBLC4gI
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Money wasting anyone

TBH. I would be looking at opening a new account at a bank closer to you if you have one. Just incase of any issues. At least then you have a fallback plan, already place.

Remember lloyds will happly drop you, so dont expect years of service from them to mean anything.
You are but a account number to ANY bank.

BugsyBrowne

Agree with above we are just an account number and that's it.