Lloyds TSB Split

TheHutches

Lloyds TSB is splitting, Lloyds is going to be a completely new bank and TSB is staying as it was. I'm being given the chance to either stay with TSB or move to Lloyds opening a whole new account. I'm thinking of moving as Lloyds have a brach in my town. Is this the right thing?

tom717

Have you checked your local branch isn't changing to a TSB? Anyway you don't have to limit yourself to Lloyds or TSB, there's nothing to stop you moving to another bank entirely. Have a read of the bank accounts guide on this website and decide what's right for you.

AndyPK

Would be interested to here more about this.
I knew c&g were splitting off.

dr_adidas01

Had you checked the forum you would have seen at least a dozen threads about this already.

rb10

TheHutches wrote: »

Lloyds TSB is splitting, Lloyds is going to be a completely new bank and TSB is staying as it was. I'm being given the chance to either stay with TSB or move to Lloyds opening a whole new account. I'm thinking of moving as Lloyds have a brach in my town. Is this the right thing?

It's actually the other way around.

Most branches will become Lloyds Bank branches - these ones will remain part of Lloyds Banking Group.

The others will split off and become TSB branches.

As for what's best for you, I doubt you'll get much help from an internet forum that knows nothing about your needs. If you don't need a branch, then it makes no difference whether you're with TSB, Lloyds Bank, or any other bank.

If you do want branch access, then look around at what banks have branches nearby and see which has an account that suits you.

Halifax, Nationwide, Santander and Lloyds (or TSB) tend to be the best for current accounts.

starM

Hi, I was just looking at my FD account statement and I made Cash Withdrawal from LTSB branch which will be transferred over to TSB. My statement is showing Cash TSB Bank.

I have used this cash machine regular and my previous statements it always shown as CASH LLOYDSTSB. So they have already changed the cash machines.

MS

pqrdef

starM wrote: »

I have used this cash machine regular and my previous statements it always shown as CASH LLOYDSTSB. So they have already changed the cash machines.

Does this mean that Lloyds customers with basic accounts will have even fewer cash machines they can use? And if they happen to cross the border, forget it. And TSB customers with basic accounts might find they're not within 20 miles of a cash machine (unless there's a change of policy)?

NorthernOne

Interesting, I have just received a replacement Lloyds TSB card but my original didn't expire until November. This new one expires 1/14 so I assume this is in anticipation of my new TSB card?!?

Thrugelmir

pqrdef wrote: »

And TSB customers with basic accounts might find they're not within 20 miles of a cash machine (unless there's a change of policy)?

Plenty of places to get cash back not just banks.

EarthBoy

I see that Cheltenham and Gloucester stopped selling all their saving accounts last month in preparation for the transfer to TSB. Even existing customers can't open new savings accounts with them.

http://www.cheltglos.co.uk/savings/

opinions4u

EarthBoy wrote: »

I see that Cheltenham and Gloucester stopped selling all their saving accounts last month in preparation for the transfer to TSB. Even existing customers can't open new savings accounts with them.

http://www.cheltglos.co.uk/savings/

C&G branches are selling the LTSB product range.

New and existing customers can open new accounts, including current accounts.