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

rb10

Thrugelmir wrote: »

Wrong way around. HBOS (along with RBS) was on the point of collapse in October 2008.

I'm not disputing that they were on the point of collapse.

What you appear to have missed from my post is that I was talking about the retail book, for which the Halifax book was much higher quality than the Lloyds TSB one.

You can broadly split HBOS into three:
- Core retail, which was (still is, in fact) performing very well, and much better than the LTSB equivalent
- Commercial/international, which is what brought HBOS down
- TMB, BM, etc, which comprise of mortgages that are outside of LTSB's original lending criteria, but still managing to perform pretty well.

The divestment applies to retail only. Why would LBG get rid of the good quality ex-HBOS stuff, when they could instead get rid of the less-good ex-LTSB stuff?

I believe that is fundamentally why they chose these branches to divest. There is continued pressure on banks to focus their efforts on their core retail franchises ('ring-fencing' etc). And as a result of the HBOS merger, LBG will have a significantly better retail franchise than it would have done otherwise.

GRAVS

Joined Lloyds in 1988 in Southampton I have not lived there for 10 years and been in to the local branches where I lived at the time asking to move branches. I was told there's no need its all Internet based now so wasting your time.
Now I am being told your account is moving to TSB......
My partner is staying with Lloyds and we have a joint Bank account together? This whole episode is a farce as I am being told I have to close all my accounts and set up new ones, will I then lose my standing as a long time serving customer or be looked at and be treated as a new customer when I want to use their services?
Whoever is running this clown show needs to be brought to task complete joke!!!!!

dr_adidas01

Latest letter from LLoyds TSB about whats going to happen.

Tim_Fox

opinions4u wrote: »

There is the other option.

Do nothing.

Learn to live without the branch.

Actually, there is a further option - take your business elsewhere

williamjp

I too have had the letter posted above by dr_a... My England account is being transferred to TSB (although the other branch about 5 miles away is staying with Lloyds). I also have an offshore LloydsTSB account.

I use internet banking to move money between the two accounts.

Does anyone know what will happen to this facility?

I am tempted to close the account in England because I have banked with them for over 20 years, but their service is appalling and the only reason I have stayed with them is the hassle of changing all of my standing orders. Maybe this is the tipping point.

Jaycee_Dove

dr_adidas01 wrote: »

Latest letter from LLoyds TSB about whats going to happen.

That is the letter we got, telling us over the page (where it shows the accounts - from the What it Means For You paragraph - that are staying and going.

Here it reports my credit card as unaffected, my ISA as staying (as it was closed from the old branch and reopened at the non moving branch - without penalty) and my new account as staying (the one they opened to replace my old account at the branch being sold).

But, as noted, it says my account being sold is the one they emptied and closed to be replaced by the one above.

So good luck to TSB on taking over a none existent account with nothing in it.

Jaycee_Dove

I notice in small print on the back of the letter they refer to 4 May as the date when the accounts being cited as staying or going were recorded for this letter.

That probably came exactly at the point when they were opening my new one and closing the old one.

Might explain the phantom account cited by the letter.

niklam

Hi there,

We have been trying to talk to lloyds for about an hour or so now and we are getting nowhere. As part of the plan to split TSB from Lloyds we have just been informed that my hubbies account will be one of the ones affected. he has a Credit card attached to his current account.

The statement for may said that we had to make a payment by 6th June, and we made it on the 28th May. Following that, Lloyds seem to have issued my HUbbie with a new cc number and set up a new direct debit, which they used to collect the minimum payment on the 31st May. We have yet to receive to new credit card through the post and only recieved a letter dated 'June 2013' stating that he would receive a new card this past week. My husband did not authorise the new direct debit, although one already existed for the original card no (we now have 2 direct debits on his current account).

We are hoping that we can reclaim the 2nd payment under the direct debit guarentee. Has anyone else experienced this? LloydsTSB seem to have really mucked up with this separation stuff. We would be grateful for any advice anyone can give.

Cheers

Niki

interlog

So if I were to want to stay with Lloyds I understand I have to open a new account. No problem with that in principle.

But as I have a Platinum Vantage account, how easy (or perhaps difficult?) is it to get such an account as a "new" customer?

Jaycee_Dove

When I decided to 'stay' at the bank I have been with for 3 decades and the branch I have visited for 11 years (rather than be moved to a bank that would not have a branch anywhere near me) I was told that you will:

1: Be treated as a brand new customer and only have access to accounts now offered to new customers.

2: Would lose privileged deals you may have as an existing customer.

3: Would require to be vetted financially as a new customer.

This did not effect me as I had a basic account (see all details in my posts earlier in the thread).

I had no special deal and - if vetted - it was very quick as I was given a new account number in the phone call itself! Cards and cheque books arrived within days.

However, I had more trouble with my ISA, as they promised I would lose nothing by it being 'transferred' and then I got a letter asking me to agree to lose interest because I was asking for early closure! Arguing it out and refusing to sign brought the transfer without penalty I was initially promised.