LLoyds TSB branch sell off - For customers who wish to stay with Lloyds

redmike123

Could it be because they are selling the bank branches and the associated customers to Co op and if the customers don't move to the Co op then the agreed sale price will decrease ? Personally I don't have a problem with the Co op bank, I know its highly rated, but I do have a problem with my bank account being bought and sold without my consent

opinions4u

altocumulus wrote: »

Lloyds constantly blame the EU regulations, but it was their own decision to close totally from Scotland.

The EU made a point of insisting either BoS or Lloyds TSB branches in Scotland were sold off by LBG.

There are several good reasons why LBG would prefer to keep BoS.

Jaycee_Dove

redmike, that is exactly why they are being forced to do things like this. So that only those who really want to stay at Lloyds will stay. The others who cannot be bothered going through this kerfuffle will be moved to any new owners.

I should add that the sale to Coop is not yet done but this transfer is happening even if it falls through. An interim new bank (TSB) is being created out of the branches up for sale and will not be interchangeable. TSB (even pre sale to Coop or whoever) and Lloyds customers will then have to use their own branches even before any future sale.

My problem is not with the Coop. Like plenty of others - I suspect - it is not my local branch that is being sold but the branch that I used to bank at many years ago and from which I was never officially transferred when moving away because of Lloyds policy to effectively ignore the use of branches.

There is no local Coop branch even if I wanted to be moved on. The branch becoming a TSB (then maybe Coop) is 100 miles away from where I live and unreachable. My nearest transferring branch is also miles away.

Hence I really have little option but to stay with Lloyds and still have a local branch to visit.

But there are no special arrangements for anyone in this situation. Even if the reason for wanting to stay with Lloyds is self evident and even if we have banked with them forever we are still treated as brand new customers and denied any perks of having been pre-existing customers of Lloyds.

It is not personally effecting me in any way as far as I can tell but there are bound to be very longstanding (even lifetime) Lloyds TSB customers in my situation who are facing being offered less good accounts because they are being treated as new applicants via this scenario. Some may even get rejected by Lloyds as they emphasise on phone that they reserve the right not to accept you as a 'new' customer and will conduct extensive credit checks into you.

And that does not seen fair for customers put in this position through no fault of their own.

Thrugelmir

redmike123 wrote: »

Could it be because they are selling the bank branches and the associated customers to Co op and if the customers don't move to the Co op then the agreed sale price will decrease ? Personally I don't have a problem with the Co op bank, I know its highly rated, but I do have a problem with my bank account being bought and sold without my consent

If the sale does not go through. Then the alternative option is to float TSB as a new bank. In competition to Lloyds.

System

Why not use Bank of Scotland free of charge?

I'm inferring that you never actually banked with Lloyds TSB Scotland; which has always been a separate bank from your bank.

LBG had to dispose of either Bank of Scotland or Lloyds TSB Scotland due to competition rules. I would imagine due to the customer base they chose the latter.

altocumulus wrote: »

I have a slightly different issue.

My accounts are staying with Lloyds - but I am resident in Scotland where there are to be no Lloyds branches available for me to use - I am warned that paying in, either by cash or by cheque may be done and may be charged....!

Hopefully the Post Office will still accept pay-ins.

But whatever method I use, I shall lose the instant credit of interest.

Customers come last, again !
Lloyds constantly blame the EU regulations, but it was their own decision to close totally from Scotland.

pqrdef

Jaycee_Dove wrote: »

This ISA matured last week. I went in branch and transferred it to a new Lloyds account at their suggestion last week before the old tax year ended to keep all options open for this new year.

They lied. They do, even to loyal customers. It made no difference when you did the transfer. They just wanted you to get on with it before you saw too many Santander ads.

All your options for this year are open until the day you pay in siome new money.

.

FB13

altocumulus wrote: »

I have a slightly different issue.

My accounts are staying with Lloyds - but I am resident in Scotland where there are to be no Lloyds branches available for me to use - I am warned that paying in, either by cash or by cheque may be done and may be charged....!

I also live in Scotland and I am planning on switching to Bank of Scotland in a couple months when the TSB deal is closer to being complete. BOS offers the same vantage current accounts as Lloyds.

bails247

Between my partner and me, we have two current accounts, one joint current account, a business account, a joint savings account, an ISA and two Avios Duo accounts which are due to be transferred to LTSB Scotland then TSB and eventually the Cooperative Bank. I need to decide whether to have all these accounts transferred or if I'm going to open new ones elsewhere... The joint current account we have is a Premier one but from what I can tell, the Coop doesn't offer anything similar. I was wondering if anyone knew whether the existing features (overdraft, insurance etc) will be honoured after the transfer or if I'll end up losing out? Thanks...

Jaycee_Dove

Just to update this thread.

I got my new cheque card within 48 hours of the phone call and my new cheque book within a week. They gave me a new PIN but told me that I could revert back to the current one at an ATM in branch and indeed I easily was able to do so.

They have selected a date when they will close the old account and transfer its money to the new one. That date was picked to be between my outgoing direct debits to create least chance of problems.

Both accounts are now live and I know when the old one will close and the date after which not to issue cheques from that account and use the new account cheque book/card instead.

Still had no news about my Lloyds TSB credit card - however. They themselves were not sure on the phone if they needed to transfer this in any way. But as of today it is still working fine.

jonesMUFCforever

I told you it would be alright in the end!