MSE News: Lloyds and TSB to split: what it means for you

"From 9 September Lloyds TSB branches will be split and re-branded as either Lloyds Bank, or TSB..."
Read the full story:

Lloyds and TSB to split: what it means for you

OfficialStamp.gif


Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
«13456

Comments

  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    To stay with Lloyds or to swap to TSB that is the question. Quite happy with Lloyds who have a branch near to work but the branch near home is going to become TSB ;-(
  • torbrex
    torbrex Posts: 71,340 Forumite
    10,000 Posts Combo Breaker Rampant Recycler Hung up my suit!
    I do not have an actual account but I do have the Lloyds TSB duo credit cards.
    I got a letter a couple of months ago telling me of the split but it did not actually say what would become of my CC account, the letter was unclear as to whether I would be issued new cards straight away or hold them until their expiry date.

    I may have missed the information as the wording of the letter was aimed at actual account holders rather than people that just used the credit cards.
  • I feel a bit uneasy about this change.....I have a business account with them and a lot of my customers pay by cheque and bank with the same bank as me, their cheques are like cash they go straight into my account...not any more, they may not move but stay with Lloyds and I'll have to wait until their cheques clear so....I'm going to hedge my bets and open an account with Lloyds as am being moved to TSB, it can't do any harm, the reduction in the number of branches I can use is a nuisance to say the least also.
  • LardyCake
    LardyCake Posts: 290 Forumite
    Part of the Furniture 100 Posts
    I'm being switched to TSB.

    Very pleased as I see it as an opportunity to to open another three Lloyds Vantage accounts @ 3% while keeping my existing three (now) TSB Vantage accounts @ 4%.
  • SteveJW
    SteveJW Posts: 723 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Currently a Lloyds customer, I am down to switch to TSB

    Currently have a gold account with Lloyds, this gives me free travel insurance and various other benefits.
    It doesn't cost me a penny as the account was opened a long while ago when they didn't charge for the benefits.
    Apparently they cannot start charging unless you upgrade your account, even Martin has said if you are getting the benefits without any monthly payments its a good deal.
    Wonder what happens when I change to TSB
  • EarthBoy
    EarthBoy Posts: 3,175 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    LardyCake wrote: »
    I'm being switched to TSB.

    Very pleased as I see it as an opportunity to to open another three Lloyds Vantage accounts @ 3% while keeping my existing three (now) TSB Vantage accounts @ 4%.

    TSB will call them Enhance, rather than Vantage.

    See page 4:
    http://www.lloydstsbtransfer.com/global/tsb_nov_june2013.pdf
  • PaulW922
    PaulW922 Posts: 1,038 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    To stay with Lloyds or to swap to TSB that is the question. Quite happy with Lloyds who have a branch near to work but the branch near home is going to become TSB ;-(

    Don't forget that you can use the Post office for deposits and withdrawals too - if you don't mind queueing!
  • Anthorn
    Anthorn Posts: 4,362 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 9 August 2013 at 12:23PM
    Pretty much old news. What remains is the question of how it's to be done and it appears that Lloyds TSB will be sticking with it's original plan reinforced after the sell off to Co-op Bank fell through: That is to merge 600 or so Lloyds TSB branches into TSB and sell off the remaining Lloyds TSB branches.

    So existing customers may not get the choice of where their accounts eventually end up.
  • vns
    vns Posts: 183 Forumite
    LardyCake wrote: »
    I'm being switched to TSB.

    Very pleased as I see it as an opportunity to to open another three Lloyds Vantage accounts @ 3% while keeping my existing three (now) TSB Vantage accounts @ 4%.

    +1...Hopefully means I can get another three accounts, one of mine currently is being switched over to TSB
  • EarthBoy
    EarthBoy Posts: 3,175 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Anthorn wrote: »
    .. it appears that Lloyds TSB will be sticking with it's original plan reinforced after the sell off to Co-op Bank fell through: That is to merge 600 or so Lloyds TSB branches into TSB and sell off the remaining Lloyds TSB branches.

    They are selling off the TSB branches, not the remaining Lloyds TSB branches. Those will become Lloyds Bank.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 349.7K Banking & Borrowing
  • 252.6K Reduce Debt & Boost Income
  • 452.9K Spending & Discounts
  • 242.7K Work, Benefits & Business
  • 619.4K Mortgages, Homes & Bills
  • 176.3K Life & Family
  • 255.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.