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

pqrdef

And we won't be too surprised if BoS turns into Lloyds BoS.

I'm sure Lloyds would love to get their name on some banknotes.

scott_lithgows

pqrdef wrote: »

And we won't be too surprised if BoS turns into Lloyds BoS.

I'm sure Lloyds would love to get their name on some banknotes.

Get them to take over Clydesdale bank and get rid of their toy town notes...

iilg

realaledrinker wrote: »

I think Co-op would be shooting themselves in the foot if they were to reduce the Vantage interest rate, and don't forget Co-op tend to have much better fixed rate savings account interest rates, so it's not all one way.

pqrdef wrote: »

And of course we have to remember that the boss of the sale/transition process will be moving over to become the boss at the Co-op.

He's not going to want to leave behind half the customers he's supposed to be taking with him.

What percentage of current LTSB customers are aware even of Vantage (& the 4%)?

What chance the Co-op do a similar upgrade offer to stop defections back to Lloyds (from Verde branches)? All Co-op current account customers in the country would be eligible to such a Vantage type deal?

Jaycee_Dove

I asked for another update at the bank at the end of October when I had to see the branch manager over something else. I was assured that it would be perfectly okay to stay with Lloyds and not be made to move to Coop as there was no local branch within 30 miles. That there would be a system to facilitate this. And that we would be getting a letter during November to explain options.

We shall see....:)

stclair

There appears to be a bit more information here from the BBC today:

http://www.bbc.co.uk/news/business-20508433

dalesrider

Check this thread which has a link to the TSB site. Which has been set up.

Jaycee_Dove

Well, it seems those saying earlier that I need not panic were wrong. I am!

I got the mailshot from Lloyds today. There is nothing in it at all about what to do if you want to stay with Lloyds as we do (see earlier posts from me in this thread for reasons).

All you have is a phone number to register your annoyance!

They are starting to issue all effected customers with new cards etc and transferring us to an interim TSB in Scotland bank. This will occur over the next couple of months. For the time being customers can still use Lloyds TSB branches but from later in 2013 it will be TSB branches only then Coop.

So I called the number and patiently explained our situation and asked how to stay with Lloyds TSB. I was told to tell it to the government as they were being asked not to facilitate customers to stay! When I pointed out all the reasons why I wanted to they said they were sorry - but - hey - branches no longer matter. Use the internet!

So I contacted my Wales branch (where I have been assured since July I would be able to stay) and asked could I please transfer now from the old branch in England to their unaffected branch where I have been visiting for a decade. Could I go to the old branch first, they asked? I pointed out that I was a full time carer and this was a several hour multi train journey away and so impossible. Could they sort it ourt, please? No - they told me - they have been asked not to help customers.

I noted that surely I could just close my account and reopen at their branch but was told they have been asked to watch for such things, whatever that means.

They assured me they would 'note' my unhappiness but they were forbidden from doing more.

I am stunned that after 35 years of loyal custom with Lloyds this is the 'best' they can do.

opinions4u

I am stunned that after 35 years of loyal custom with Lloyds this is the 'best' they can do.

They have a difficult line to walk here. Flying in the face of an EU ruling by proactively keeping customers would prove rather expensive if it ended in a fine.

dalesrider

Jaycee_Dove wrote: »

I am stunned that after 35 years of loyal custom with Lloyds this is the 'best' they can do.

Sadly they have been told that they can't keep you as a customer. FOS will be monitoring the complaint level. If it gets too high. They may have to step in and do something.

But.......

Open a new account via internet banking. Then close the old one down, or leave it open as a back up.
Never know the new lot might be better than the old.

Up yours EU :rotfl:

rb10

Jaycee_Dove wrote: »

For the time being customers can still use Lloyds TSB branches but from later in 2013 it will be TSB branches only then Coop.

Co-op customers can also use Post Office branches to deposit cash and cheques - I'd be surprised if ex-Lloyds customers were not able to do this once you've transferred over.

Whilst the level of change may seem significant now, I imagine that things could well work out ok.