Lloyds TSB Split

System

Lloyds basic accounts will still have additional access to Halifax ATMs in Northern Ireland and Bank of Scotland ATMs in Scotland. Sainsburys ATMs are also allowed but as the LBG share (of Sainsburys Bank) has been sold that might change.

TSB will almost certainly ditch the own machines policy as it's ATM network will be small and the cost savings are minimal.

pqrdef wrote: »

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)?

MoneySaverLog

Think I'll wait until TSB are off the Lloyds Banking Group platform and then apply. At the moment I suspect they're using the same computer systems and servers (all be it on separate partitions) as all the others in Lloyds Banking Group.

opinions4u

MoneySaverLog wrote: »

Think I'll wait until TSB are off the Lloyds Banking Group platform and then apply. At the moment I suspect they're using the same computer systems and servers (all be it on separate partitions) as all the others in Lloyds Banking Group.

The failed Co-op purchase was going to use LBG systems too.

So I very much doubt TSB will be using a bespoke platform of their own within the next decade.

CP1

Has there been any announcement on shares allocation between Lloyds bank & TSB for existing shareholders?

System

There won't be any new share allocations.

TSB Bank is going to be floated on the stock exchange or sold off with the money going into Lloyds Banking Group's coffers.

CP1 wrote: »

Has there been any announcement on shares allocation between Lloyds bank & TSB for existing shareholders?

rb10

CP1 wrote: »

Has there been any announcement on shares allocation between Lloyds bank & TSB for existing shareholders?

Your shares are in Lloyds Banking Group. Just because they are selling off part of their business doesn't mean your shares would suddenly become shares in TSB instead.

Lloyds are selling off various other parts of their business at the moment (to get around their capital shortfall). Nothing changed when they sold those parts; nothing will change when they sell Verde.

Onetwothreefour

Does anyone know whether Lloyds TSB account holders are going to be formally notified of this split, and what the options are to decide which one to switch to?
Thanks

EarthBoy

All affected customers were notified yonks ago. You aren't being asked which bank to choose; if your branch has been selected to become TSB then you are automatically moving, like it or not, unless you ring them up and ask to stay with Lloyds.

New terms and conditions have been sent out to all customers, those moving and those staying. Mine arrived last week.

opinions4u

acj wrote: »

Does anyone know whether Lloyds TSB account holders are going to be formally notified of this split, and what the options are to decide which one to switch to?
Thanks

I'd suggest opening your post occasionally. Alternatively check they have the correct address for you.

AndyPK

I don't think they have posted to all the future lloyds customers yet.

Haven't recieved anything to my correct address and only recieved something to another address last week.