Lloyds branches asked you to move your TSB ac

PM45

Interested to know if any branch of Lloyds has suggested you need to move your now TSB ac back to them on the 7 day switch?

marlewuk

im guessing they'd be in very hot water if word got out that they are pro-actively suggesting tsb customers switch back.

PM45

I do believe this is happening so interested to know if this is isolated or not. If the 7 day process to switch is used there is no going back

EarthBoy

Encouraging people to switch so soon after the separation of Lloyds and TSB seems rather unlikely, but it may be happening for all I know. In effect, though, they aren't switching "back", they are just changing to a new bank and it could easily happen both ways. Lloyds customers who are now using a TSB branch because it's more convenient for them could easily be enticed to switch to TSB.

pinkdalek

marlewuk wrote: »

im guessing they'd be in very hot water if word got out that they are pro-actively suggesting tsb customers switch back.

Why? It was the EU that forced them to break up to encourage more competition within the banking sector in the first place. Lloyds (or TSB) or only trying to promote their business. Is it much different from LTSB customers switching to Halifax or BOS?

pmduk

As TSB hasn't been formally separated from Lloyds Banking Group yet, I'm certain the EU would frown upon this as it breaches the whole point of the sell-off. If it is happening it'll be staff trying to meet targets.

Archi_Bald

PM45 wrote: »

I do believe this is happening so interested to know if this is isolated or not.

Why do you believe this?

Gromitt

pmduk wrote: »

As TSB hasn't been formally separated from Lloyds Banking Group yet, I'm certain the EU would frown upon this as it breaches the whole point of the sell-off.

I don't see why. If your account has been moved to TSB, but your local town only has a Lloyds branch, why wouldn't you want to move?

Personally, I'm quite happy to have accounts from both. It gives me an extra 15K @ 3%

jonesMUFCforever

Well if I worked for TSB then I certainly would be asking Lloyds customers LOL

pmduk

Gromitt wrote: »

I don't see why. If your account has been moved to TSB, but your local town only has a Lloyds branch, why wouldn't you want to move?

We've seen , both during the RBS planned sale to Santander and preceding the creation of TSB, that bank staff are not allowed to say or entice customers to move from one part of the organisation to another. The whole point of the exercise is to reduce that companies share of the market.

Nothing stops a customer moving should they wish. In the circs you described I'd have moved my account before the split.

PM45

I am fairly certain that the targeting of customers who are now TSB by Lloyds to suggest they need to transfer would be outside the EU directive and indeed lloyds internal procedures - I was trying to ascertain if this was isolated or a more concerted effort hence the question . It is if course not in customer interest as credit history will undoubtedly be lost if the 7 day switching system is utilised and additionally the same services and benefits will not be guaranteed.
It may well be that this type of 'sale' would be rewarded for both the branch and individuals . The. Customer could potentially be penalised