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

EarthBoy

Maybe your sort code doesn't relate to the branch you thought it did? Look it up on the branch checker and cross check your sort code:

http://www.lloydstsbtransfer.com/search/

pqrdef

One of the remarkable things about all this, especially since the Co-op pull-out, has been the way that LBG has been making business decisions for its future rival.

But nothing at all seems to have been said about the product range that TSB will put on offer from Sep 9. Saying that existing Vantage accounts won't change doesn't necessarily mean that there'll be new Vantage accounts on sale.

It would kind of defeat the object if TSB is just a carbon copy of Lloyds.

EarthBoy

pqrdef wrote: »

But nothing at all seems to have been said about the product range that TSB will put on offer from Sep 9. Saying that existing Vantage accounts won't change doesn't necessarily mean that there'll be new Vantage accounts on sale.

No it doesn't; we'll just have to wait and see. Banks don't normally give advance notice of new products until they are launched. Who's to say that the new Lloyds Bank will continue selling Vantage accounts, let alone TSB?

pqrdef wrote: »

It would kind of defeat the object if TSB is just a carbon copy of Lloyds.

Well Bank of Scotland seems to be just a carbon copy of LloydsTSB these days. TSB might not start to differentiate its product range until it's sold off.

DragonQ

This is happening in a month's time and I haven't even received a letter. No idea whether my branch will be a Lloyds or a TSB, no idea what they're moving me to. I guess I'd better look it up myself.

EDIT: OK so my local branch, which is in totally the wrong place on their map, is "staying with Lloyds TSB". What the hell does that mean??

MoneySaverLog

DragonQ wrote: »

OK so my local branch, which is in totally the wrong place on their map, is "staying with Lloyds TSB". What the hell does that mean??

It means it will become Lloyds. If you put your sort code in the link above and you get a TSB logo showing at your branch address then it will become TSB

opinions4u

pqrdef wrote: »

One of the remarkable things about all this, especially since the Co-op pull-out, has been the way that LBG has been making business decisions for its future rival.

As LBG owns the Verde business and is answerable to its shareholders this is hardly surprising.

The decisions being made seem to be along the lines of those agreed with Co-op.

But nothing at all seems to have been said about the product range that TSB will put on offer from Sep 9. Saying that existing Vantage accounts won't change doesn't necessarily mean that there'll be new Vantage accounts on sale.

Id expect it to be unchanged. But if there is to be change I'd expect them to keep it close to their chest at the moment.

It would kind of defeat the object if TSB is just a carbon copy of Lloyds.

It looks like it's going to be operating as a business within a business, with "curtains" shielding it's activities from other parts of LBG. But as it will, ultimately, report into the CEO there will be an expectation that its run effectively.

I wouldn't expect to see much innovation until a good year or so after it's been successfully floated / sold.

DragonQ

MoneySaverLog wrote: »

It means it will become Lloyds. If you put your sort code in the link above and you get a TSB logo showing at your branch address then it will become TSB

That won't work since my sort code is for my original branch. I have since moved an hour away but my new accounts always keep that old sort code. I just used my post code instead.

Anyway, thanks, so it'll stay as Lloyds. It looks like there's a TSB opening near by too. I assume we can choose which to join but right now there's nothing to base such a decision on I guess.

pawlala

If C&G is moving away from Lloyds, what will happen to my online morgage statement as I will remain a Lloyds customer? Will it disappear from my online banking?

stclair

MoneySaverLog wrote: »

Will we get speedbank cards?

I remember having one of these:

http://colnect.com/en/bank_cards/bank_card/6876-TSB_Speedbank-Lloyds_Tsb-United_Kingdom

My moms still got the original TSB card holder at home they used to supply you with when you opened an account.

comping_cat

What happens if anyone has LloydsTSB shares?