MSE News: Lloyds branch sale to Co-op collapses

Robin_Davies

My Lloyds account, which I've had since 1974, was at one of the branches due to be sold. I was furious when I was told that the EU had decided to punish Lloyds by selling me to the Co-op. Since then I've spent hours making phone calls and visits and reading leaflets and letters. Finally, I reached the point where the EU allowed me to open a new Lloyds account at a branch that was staying, and to arrange the switch from old to new branches. It appeared that Lloyds had been ordered to make it as hard as possible for their customers to switch from them to them, so my new account opening took an hour on the phone and went through all the checks as if I had never banked with them before. On my first attempt I failed security by reading the wrong line on my current statement and had to start again with a new phone call. We are now in the middle of the switch and I am just waiting for something to go wrong. I have to deal with new debit cards, new cheque books, etc, etc, all to stay with the same bank. None of this needed to happen. It was the last straw for me and the EU, and next time I'll be voting for a party that I never thought I would come to support.

innovate

You are making a massive meal out of what is a very simple thing to do - - opening a bank account, and transferring your existing SOs, DDs and incoming payments to that new bank account. Nobody, least the EU, stands in your way doing this.

It's a good thing to have more than one bank account at different organisations, anyway, for reasons that should be obvious since the Natwest IT meltdown. Again, nobody, least the EU, stands in your way doing this.

System

Tory party? Each one of their MPs is more creepy than the next.

The thing to remember is that Lloyds could have kept you and got rid of Halifax. They chose to keep Halifax - hardly the European Commission's fault.

Robin_Davies wrote: »

My Lloyds account, which I've had since 1974, was at one of the branches due to be sold. I was furious when I was told that the EU had decided to punish Lloyds by selling me to the Co-op. I'll be voting for a party that I never thought I would come to support.

innovate

Heng_Leng wrote: »

Tory party?

Not right-wing enough

temporary1

We could have leased out the high-street banking side of nationalised Lloyds to Bank of Dave (Fishwick). A social bank - run FOR the benefit of the people BY the people - with profits reinvested in new business, and local job training, rather than in directors bonuses and wealthy shareholders off-shore tax avoidance scams.

ChiefGrasscutter

innovate wrote: »

You are making a massive meal out of what is a very simple thing to do - - opening a bank account, and transferring your existing SOs, DDs and incoming payments to that new bank account. Nobody, least the EU, stands in your way doing this.

It's a good thing to have more than one bank account at different organisations, anyway, for reasons that should be obvious since the Natwest IT meltdown. Again, nobody, least the EU, stands in your way doing this.

Sorry but I disagree with you there - on your first para anyway - the second I agree with.

This does not affect me as my Lloyds branch is unchanged but I'd be livid if it did.

I have better things to do with my life than move DD's S/O and modify all the details in various building societies, tell company dividend mandates payees etc and so on who have my bank details stored in their systems.
Not to mention telling various sundry people who have paid/refunded me from various volunteer/committee work etc that I do that my bank details are now different....and making sure that they actually DO change them and not forget/ignore it.

Not to mention of course that I am going to have to get sodding involved in in it anyway if those people I pay are with the Verde Lloyds group and move their accounts and I am the one getting the messages to please change their bank details stored in my online banking or the various associations records........jeesz.

Not because I wanted to change of course but because the bl**dy EU mandated it!

innovate

temporary1 wrote: »

We could have leased out the high-street banking side of nationalised Lloyds to Bank of Dave (Fishwick). A social bank - run FOR the benefit of the people BY the people - with profits reinvested in new business, and local job training, rather than in directors bonuses and wealthy shareholders off-shore tax avoidance scams.

And no FSCS protection whatsoever.

After you, Sir....

innovate

ChiefGrasscutter wrote: »

I have better things to do with my life than move DD's S/O and.......

you are of course entitled to disagree with me any time you like but I think you are making just as big a meal out of this as "Robin Davies" did. It hardly takes any significant time out of your life if you set up a new account (or two) and move some or all of your banking transactions.

You might even come across some better deals in the process! It's not as if there was any single bank or BS that offers you the best deal across the board.

ChiefGrasscutter wrote: »

Not because I wanted to change of course but because the bl**dy EU mandated it!

Some people pick any old subject to express their displeasure with the EU. In the particular case of breaking up banking behemoths, there are huge benefits to the UK consumers - - but some people just don't want to see them, and would rather continue to be at the behest of some huge banking conglomerates that become to large to fail and then need to be rescued with public money that sends the whole country into further debt......but that's all ok because it's a home-made disaster.

LC88

maemaesmummy wrote: »

I believe morale is low and a lot of staff are choosing to leave obviously the non payment of bonus has gone a long way towards staff feelings Back in the day they actually used to care about the staff and were well known for being a great employer, sadly this is no longer the case. Old management were replaced and new brought in.

I believe the next round of job cuts will be made soon...:(

Thanks .... thats interesting as I had heard that they had been on a major recruitment drive which suggested things were good there, well before this news. But it seems all is not well and hasnt been for a while.

I know times are tough, but good staff treatment is important - not just to keep the best staff but to encourage the right behaviours to achieve good customer service. Seems like they could be on a slippery slope downhill. Always the way when a company gets too ambitious and expands too quickly - values get lost.

Jaycee_Dove

I am another customer messed about by this (been with Lloyds 37 years and bank at my local branch not being sold but registered by them at one where I lived 12 years ago that is/was being sold).

I did not find the transfer too taxing - yes 1 hour free call listening to endless terms and regs, yes being told I had to be financially vetted as a 'new' customer was irking - and, yes, even the woman on the phone admitted it was absurd that she was having to tell me that my LLoyds ISA was being transferred to a Lloyds ISA and that Lloyds would ask Lloyds to let themselves know when this had happened!

However, the switch itself was simple. Though I do now have to recall who I have to advise about all my new details as they pay money in to me (publishers etc). A bit of a pain.

But whilst Lloyds were very helpful I agree with those above who think this is an imposition on people who are being forced into this through no choice or fault of their own despite having chosen to be loyal to Lloyds for decades.

Perhaps you have to be one of those messed about by the EEC to understand why it effects your judgement on that institution. Like others above I will now not vote for a pro EEC party after this.