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

MME_2

Jaycee_Dove wrote: »

They told me NOT. They claim to have been instructed to look out for people trying to circumvent the system by closing and opening new accounts.

The EEC and government have supposedly required Lloyds to pass on the customers and not just the branches and because they expect lots of existing customers to want to stay with LLoyds that is why they have been asked not to 'facilitate' (as they put it) such things.

This is why I am so annoyed. Thirty Five years loyalty to this bank and because a branch 100 miles away from where I live and not the one where I have banked for 11 years is being sold then I appear to be like a Guantanamo Bay inmate ring fenced from staying a Lloyds customer.

Hence my disgust at what is going on here. I suspect when others who are in my position discover the truth (as I did by phoning the number in the literature sent out and then my local branch) the tide of anger will grow.

So much for loyalty.

Stop getting your knickers in a twist. The option to remain with Lloyds will be available next year but it will be dealt with by a dedicated switcher team. The number of movers has to be monitored to ensure the package being sold to the new owner remains within the ECs requirements.

stclair

This link which was posted before and now appears to have been deleted from the thread: (The post was on another thread regarding the same subject)

http://uk.finance.yahoo.com/news/millions-lloyds-customers-told-banking-153452801.html

Details the following question:

Q: What if I don’t want to switch banks?

A: When the transfer is formally agreed next year, Lloyds will contact all affected customers again. Those who don’t want to switch will be informed of the procedure they need to follow to continue banking with Lloyds. The majority of customers will be automatically switched to the new bank.

So from that I will presume that a process will/may be put in place to allow customers to transfer to another branch.

Jaycee_Dove

If they simply told me the above I would be happy to wait. However, I have asked since July in branch and been repeatedly told that the letter 'coming soon' would advise what to do if I want to stay witgh Lloyds. Indeed two days before I got the letter I was told that the letter was on its way and would say this - but it makes no reference at all to what to do if you want to stay.

The web site and Q & As from Lloyds (which was the first place I looked) also has no reference to staying with Lloyds either. It just keeps reiterrating that you will not be inconcenvienced at the moment.

So I called both the number in the literature sent by post and my local branch. They could have said the above within seconds and I would have been reassured. Neither did. In fact they simply kept repeating it was not their fault, they had to sell the customers not just the branches and there was no system to allow me to stay with Lloyds.

I trust you can see why I am not reassured.

Moreover, the literature indicates that an interim move will occur early next year in which all effected customers will be given new cards etc as a result of being transferred to the new TSB bank set up as the half way house prior to any sale later that year.

Fairly reasonably I think I am concerned that if that occurs then you are half way to being shipped out and it might be thus harder to stay put.

I do hope those optimistically telling me to stop worrying and they will resolve this via a stay put team next year are correct.

However, they have not had these discssions with Llloyds TSB explaining why I want to stay and I have - with not one hint of reassurance that if I wait there will be a team set up to do what I require.

I do not think it is surprising that I am not finding it easy to trust the banking system right now.

And all I am saying is that there should be some statement of reassurance for those who want to stay where they are.

stclair

Jaycee_Dove wrote: »

If they simply told me the above I would be happy to wait. However, I have asked since July in branch and been repeatedly told that the letter 'coming soon' would advise what to do if I want to stay witgh Lloyds. Indeed two days before I got the letter I was told that the letter was on its way and would say this - but it makes no reference at all to what to do if you want to stay.

The web site and Q & As from Lloyds (which was the first place I looked) also has no reference to staying with Lloyds either. It just keeps reiterrating that you will not be inconcenvienced at the moment.

So I called both the number in the literature sent by post and my local branch. They could have said the above within seconds and I would have been reassured. Neither did. In fact they simply kept repeating it was not their fault, they had to sell the customers not just the branches and there was no system to allow me to stay with Lloyds.

I trust you can see why I am not reassured.

Moreover, the literature indicates that an interim move will occur early next year in which all effected customers will be given new cards etc as a result of being transferred to the new TSB bank set up as the half way house prior to any sale later that year.

Fairly reasonably I think I am concerned that if that occurs then you are half way to being shipped out and it might be thus harder to stay put.

I do hope those optimistically telling me to stop worrying and they will resolve this via a stay put team next year are correct.

However, they have not had these discssions with Llloyds TSB explaining why I want to stay and I have - with not one hint of reassurance that if I wait there will be a team set up to do what I require.

I do not think it is surprising that I am not finding it easy to trust the banking system right now.

And all I am saying is that there should be some statement of reassurance for those who want to stay where they are.

I would just watch this space and see what happens rather than causing your self the stress about it.

I personally think your reading far too much into it at the moment. As the saying goes "Keep Calm" and "Chill Out".

Im sure alot of lloyds staff are no better informed and what you are at the moment.

Jaycee_Dove

stclair wrote: »

I would just watch this space and see what happens rather than causing your self the stress about it.

I personally think your reading far too much into it at the moment. As the saying goes "Keep Calm" and "Chill Out".

Im sure alot of lloyds staff are no better informed and what you are at the moment.

You are probably right (I hope). However, when you are a full time carer and banking is a vital part of making this work but you are limited severely by an inability just to go anywhere anytime then it is important to have stability.

You depend more than ever on trusting the staff you have come to know over the past decade and do not need this kind of hassle imposed from beyond for political reasons.

pmduk

Try to let it go for now. There's nothing you can do at this stage. Remember all the efforts people went to to avoid the Santander takeover of some RBS group branches? The whole deal fell thorough thank goodness.

You'll be told what's happening in good time to take any necessary actions. Until then, forget it and worry about things you can take action on.

pqrdef

Jaycee_Dove wrote: »

Moreover, the literature indicates that an interim move will occur early next year in which all effected customers will be given new cards etc as a result of being transferred to the new TSB bank set up as the half way house prior to any sale later that year.

Fairly reasonably I think I am concerned that if that occurs then you are half way to being shipped out and it might be thus harder to stay put.

Well exactly. If they were planning to make it easy to stay with Lloyds, they wouldn't be going about it that way. They'd switch your branch before sending out the new cards and cheque books.

Though if they had any real interest in customer convenience, they'd simply allow you to operate a TSB account at a Lloyds branch indefinitely. They'll still be on the same IT system, and it wouldn't compromise the sale in so far as your account would still be sold.

By ruling that out, they've shown where their priorities lie.

Paul Pester's aim is to get as many people as possible into his TSB branches where he can sell at them. Whatever he does, he will lose those who can't get to a TSB branch. But he's not going to do it in a way that risks losing more people than necessary.

From his point of view, the problem is, if you can move your account from its Verde branch to your Lloyds branch in Wales, what's to stop half the customers at that Verde branch moving their accounts to the Lloyds branch round the corner? And obviously he cannot allow that to happen, not now, not later. No system to facilitate that is going to be set up.

Jaycee_Dove

Well, I got a surprisingly quick reply to my official request to stay with Lloyds TSB. It was not personalised, so what I expect everyone who complains will receive.

Basically it says if you are happy to be moved on then they will do everything possible to smooth the process and you will keep your same account numbers etc.

But if you choose to request to stay with Lloyds they will not be remotely as helpful.

Indeed they emphasise that you will have to close your account at the branch being sold, apply for a new one at an unaffected branch. Then you will be treated as a brand new customer and so will lose all privilges you might have (such as an overdraft). You will not be entitled to any account you currently have and will have to select one from those currently available to new applicants. Plus you will have to go through a full credit check before being considered for acceptance!

They then apologise if this process is 'not as straightforward as you might expect'.

So I think - despite the posts above - I am entirely justified in being concerned and raising these issues now so that people see what is being planned. It looks to me as if they are planning to do anything possible to stop you staying with Lloyds TSB.

And I do find that disgusting given that I have been with the bank for 35 years and the only reason my account is at a branch 100 miles away from me that is being sold is down to the bank's policy of 'not having branches' so 'no longer transferring when you move' even a decade ago - except for now, of course, when those decisions they took - not me - put me at a huge disadvantage.

I have again spoken to my local branch (as opposed to the one they now say is my local branch now branches do matter all of a sudden). They had not yet seen this letter and have asked me to take it in next time I visit and discuss its implications. They agree that a switch before having my cards changed in the new year makes sense as that would prevent having to change them yewt again within a few months. But until they see the letter they are not sure I will be allowed to switch until after the transfer to the interim bank in Scotland planned for March.

jackjones01

@ Jaycee Dove

I do not think patience is one of your strong points. Why? dont you just wait until this second letter is sent out to give you more information. I bet a process as not even been put in place at the moment hence the poor responses given to you by bank staff regarding the possibility of transferring to another branch.

The same happened with RBS to begin with they was like no you cant transfer then a few months later a team was set up to allow transfers to take place. I am sure behind the scenes this all being discussed and not been communicated to staff at present.

Jaycee_Dove

It is pretty obvious from your reply that you have been fortunate not to have to become a full time carer for 10 years and take care of the financial problems this involves.

Having a bank you trust with local branch staff you know and depend on weekly within reach of a bus ride during the two hours per week I am given to do stuff like shopping and banking is enormously important.

And I have had the second letter as noted in the post above. My local brabch agreed it was worrying and have asked me to bring it in to show them so we can try to find a solution.

Happily they are being more understanding than some on here.

I will report back on what happens.