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

EarthBoy

rb10 wrote: »

(click 'names' to see that Halifax, BM, IF etc all fall under this authorisation).

That's a very interesting list, but some of those trading names are the property of completely different businesses. Since when has Bank of Scotland traded under the name British Gas, or Scottish Gas??? Do they own Readers Digest? And West Bromwich BS presumably stands for West Bromwich Building Society, which as far as I know is still independent.

stclair

In future, TSB and Lloyds Bank will operate as separate banks. You will be able to manage your TSB accounts at over 630 TSB branches and Lloyds Bank accounts at almost 1,300 Lloyds Bank branches. Both banks will offer a full range of Internet and Telephone Banking services. Your TSB accounts will be covered up to £85,000 (or £170,000 for joint accounts) under the Financial Services Compensation Scheme and, likewise, your Lloyds Bank accounts will be covered separately for up to £85,000 (or £170,000 for joint accounts). This not applicable to accounts held in the Channel Islands, Isle of Man or Gibraltar.

https://www.introducinglloydsbank.com/

JuicyJesus

EarthBoy wrote: »

That's a very interesting list, but some of those trading names are the property of completely different businesses. Since when has Bank of Scotland traded under the name British Gas, or Scottish Gas??? Do they own Readers Digest? And West Bromwich BS presumably stands for West Bromwich Building Society, which as far as I know is still independent.

They may (or may have previously) run affinity cards for those groups - credit cards sold under the British Gas/Scottish Gas/Reader's Digest etc name but operated under the hood by Bank of Scotland.

Aqua was one of these cards. So was Amazon.co.uk. You may well find Amazon or Aqua listed somewhere on that list, although as both are now issued by different companies (MBNA and Progressive Credit, respectively) they may not be.

pqrdef

EarthBoy wrote: »

And West Bromwich BS presumably stands for West Bromwich Building Society, which as far as I know is still independent.

A lot of building societies market other firms' investment products under their own brand. Nationwide sells Legal & General, and YBS used to sell Credit Suisse.

diamond

Crikey, just went to check my balance and some accounts had disappeared :eek:. None of the correspondence I received said I was moving to TSB.

I think it's outrageous that I had to come to MSE to work out where on earth my accounts had gone. Worked the website address out myself and eventually found the 3 missing accounts but boy was I scared for a few minutes.

I was hoping they might have messed up on my credit card balance and wiped it but no such luck

DragonQ

TSB's version of Classic Vantage accounts are named Classic Enhance accounts, with the same tiered interest up to 3%.