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TSB & Links to Halifax/LBG
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Posts: 241 Forumite
I setup a TSB account approx 6 weeks ago. I have existing defaults with Halifax, but know Lloyds was splitting and being run as a separate bank - however, on the Lloyds Banking Group site, TSB are listed.
Do Halifax have a right to offset? I know Lloyds can, but unsure about TSB, during this interim/pre-sale period.
Do Halifax have a right to offset? I know Lloyds can, but unsure about TSB, during this interim/pre-sale period.
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I setup a TSB account approx 6 weeks ago. I have existing defaults with Halifax, but know Lloyds was splitting and being run as a separate bank - however, on the Lloyds Banking Group site, TSB are listed.
Do Halifax have a right to offset? I know Lloyds can, but unsure about TSB, during this interim/pre-sale period.
Mmmm not sure, if they are listed as been part of the same group then I suppose its always possible they could use the right of offset, its anyones guess really, sorry cant be of much more help !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I have a similar query regarding the above. I am in a DMP which includes a Halifax overdraft being paid back in stages. I have recently opened 2 of the new TSB Classic Plus accounts that pay 5% credit interest on balances up to £2,000 just to have for future improvements to my finances.
If I am moving money in and out of this account as per the T&Cs are Halifax able to lay claim to any money I may have sitting in these accounts and offset it against a £1.5k overdraft which I am paying off monthly as per my DMP?
Any help would be greatly appreciated.
Thanks
TSE0 -
Im one of the ones that had an origional LTSB account that was moved to TSB.
When they sent out the new T's and C's there was a bit out TSB's right to offset which specifically stated they would not be able to use any right under the offset rule once the split had happened.
I took that to mean once TSB had been sold off, so at the moment, as they are still part of the Lloyds banking group and still operate under the Lloyds TSB Scotland consumer credit licence I would say that they could still use their offset right.
We are only months away from TSB been sold though
[STRIKE]DFD - 24th October 2015[/STRIKE] [STRIKE]DFD - 24th March 2015 [/STRIKE]
DEBT FREE 24.03.15
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