MSE News: Lloyds and TSB split today: What does it mean for you?

jonesMUFCforever

Have you tried the TSB website? Log in there to see if the remaining account is visible.

Sorry can't help you with the pension query.

FLAPJACK

I think I would print off the account details you see on the Lloyds site, and try as jones MUFC has said to log onto the TSB site.

My Lloyds account page had four "missing" .....logged on to TSB site with the same log on details used on Lloyds and there they were. Having got the letter you didn't I transferred all but a pound from each account that was going across to TSB...just incase.

Transferred the balences back to TSB no problem.

If you can't get on to the TSB site with your Lloyds log on details take the print out of what you have left at Lloyds to your local branch and see the manager.

I'd go to either lloyds or TSB branch as both should be able to sort it out.

pqrdef

mary_poppins123 wrote: »

No one can explain why I am seeing details of a pension fund that isn't mine. Neither can they explain why the account with TSB was moved with a very, very old address associated.

It's called data quality. They can't do a job like this without assuming that the data they have is basically correct. But in reality all large databases with long histories are full of errors. They get just enough casual maintenance to get by.

Before embarking on a split like this there needs to be a major data clean-up programme, with zillions of cross-consistency checks and all discrepancies chased. But that's virtually impossible when they're tracking a moving target and they need to keep audit trails - they aren't supposed to just dive in and "falsify" records even to make corrections.

It all points to the banks' IT systems being basically unfit for purpose.

But at least Lloyds/TSB have a chance to sort some things out while they're still under common ownership. The RBS/Santander sale would have been a nightmare.

LeglessLiam

I too have been transferred to the 'new TSB' from Lloyds TSB where I had just a current account.

Now when I log into the new TSB site (using my former Lloyds TSB details), not only is my current account there, but I have also 'inherited' an ISA with more than £5k deposited, a Deposit Account with in excess of £22k deposited, and another current account with over £4k balance.

I didn't realise that we were being 'rewarded' for suffering the change from Lloyds to TSB, but these new accounts with their large balances that I have been given have certainly softened the blow.

I am just wondering if I can transfer stuff (which it looks like I can) between accounts before they take them back off me!

Liam

pqrdef

LeglessLiam wrote: »

I am just wondering if I can transfer stuff (which it looks like I can) between accounts before they take them back off me!

If the other guy doesn't grab your money first.

This is why data quality should be an issue in security audits, though usually it isn't. I wonder if the banks have security audits.

typistretired

Can't believe what I have just read in a couple of the previous threads about other savers' pensions and savings accounts appearing in their list of accounts. Hope they keep us updated with the outcome. They may not be able to move the money externally as you have to input your password but they could move internally.

thehound

The mse report says the accounts of both banks will be the same for now, but I just noticed the Value Added current accounts at tsb have a fee free / interest free overdraft facility. lloydstsb stopped this over a year ago.

mrmajika

thehound wrote: »

The mse report says the accounts of both banks will be the same for now, but I just noticed the Value Added current accounts at tsb have a fee free / interest free overdraft facility. lloydstsb stopped this over a year ago.

Yes, you're quite right. The TSB current account offerings seem to mirror exactly the Bank of Scotland offerings, rather than the Lloyds ones.

System

Remember that TSB is one of the 'big four' banks in Scotland and in direct competition to BOS. I doubt they would want an inferior product range.

mrmajika wrote: »

Yes, you're quite right. The TSB current account offerings seem to mirror exactly the Bank of Scotland offerings, rather than the Lloyds ones.

seven-day-weekend

uzubairu wrote: »

My accounts moved to the TSB and I was able to access them online today with the same log-in details.

Same here, no problems whatsoever. My one account stayed with Lloyds and can look at that too.