Will TSB have my Lloyds TSB details?

MoneyJourney

Hi everyone

Long time lurker

I am just seeking some advice around the new TSB bank. I previously had a Lloyds TSB current account which I am sorry to say ended in disaster as I had a large overdraft on the account and defaulted on the repayments. The account is still being repaid monthly, with about £2,500 to go.

I have also had financial problems with all of the other banks, including Co-Op and Barclays.

I have a current account with Halifax, but this is the basic account which only has a Visa Electron card.

I was hoping that I might be able to apply for a basic Cash account with TSB for the Visa Debit. However I don't know if I am able to, with having the Lloyds TSB debt. When looking at my credit file, it says "Lloyds Bank (formerly Lloyds TSB) which makes me think Lloyds has the debt, but I don't know if TSB will know anything about it on their systems? I know they'd see the defaults on my credit file.

With TSB being the only bank I've never had a problem with (except "Lloyds TSB") would my application be a 'clean' application with them, as in would it show I have never had an account with them and I am a brand new customer?

Ed-1

MoneyJourney wrote: »

Hi everyone

Long time lurker

I am just seeking some advice around the new TSB bank. I previously had a Lloyds TSB current account which I am sorry to say ended in disaster as I had a large overdraft on the account and defaulted on the repayments. The account is still being repaid monthly, with about £2,500 to go.

I have also had financial problems with all of the other banks, including Co-Op and Barclays.

I have a current account with Halifax, but this is the basic account which only has a Visa Electron card.

I was hoping that I might be able to apply for a basic Cash account with TSB for the Visa Debit. However I don't know if I am able to, with having the Lloyds TSB debt. When looking at my credit file, it says "Lloyds Bank (formerly Lloyds TSB) which makes me think Lloyds has the debt, but I don't know if TSB will know anything about it on their systems? I know they'd see the defaults on my credit file.

No they won't. They have completely separate systems now.

MoneyJourney wrote: »

With TSB being the only bank I've never had a problem with (except "Lloyds TSB") would my application be a 'clean' application with them, as in would it show I have never had an account with them and I am a brand new customer?

Yes.

PeacefulWaters

Ed-1 wrote: »

No they won't. They have completely separate systems now.

Well, sort of separate.

jonesMUFCforever

Lloyds will have details of any account and defaulted accounts in collections prior to the split in August.
TSB will hold any TSB you hold now.

MoneyJourney

PeacefulWaters wrote: »

Well, sort of separate.

Thanks everyone.

Do you mind me asking what you mean by sort of separate? If I walked into the TSB branch down the road (which was my Lloyds TSB Branch) and I attempted to make an application, I hope it will show nothing on my records (other than what's on my credit file).

I don't want them to refuse my application because of internal details that they may still have from before the Lloyds split.

I would also assume the TSB Branch will still have the same sort code from when it was Lloyds TSB

PeacefulWaters

MoneyJourney wrote: »

Do you mind me asking what you mean by sort of separate?

TSB accounts sit on Lloyds Banking Group computer systems. This will continue, even after Lloyds sell of the remainder of their holding in the new TSB.

There are, however, "curtains" in place that stop TSB seeing data relating to accounts with Lloyds, Halifax and Bank of Scotland.

If I walked into the TSB branch down the road (which was my Lloyds TSB Branch) and I attempted to make an application, I hope it will show nothing on my records (other than what's on my credit file).

I don't want them to refuse my application because of internal details that they may still have from before the Lloyds split.

I would also assume the TSB Branch will still have the same sort code from when it was Lloyds TSB

LBG took on the bad debt of Lloyds TSB accounts. But TSB retained some poorly managed accounts where the difficulties weren't considered to be severe. From your description I'd guess that you're in the first category.