TSB is up for sale again

Lightning360

People are still complaining that it is "becoming foreign owned". It seems a lot of people had no idea TSB is already owned by a Spanish bank.

EarthBoy

WillPS said:

HillStreetBlues said:

Looks like I've had the last switching reward from TSB as by time I qualify again the brand will be gone.

Santander trades under 3 different brands in the UK. Bit soon to conclude TSB as a brand is going to be squelched.

In this interview, Santander's Chief Financial Officer confirms that TSB will be migrated to the Santander platform. 

Watch Santander CFO Says TSB Brand Has a ‘Lot of Value’ - Bloomberg

When asked if they will do away with the TSB brand, he doesn't actually say one way or the other, he just says they will decide what to do when the merger completes.  However, he says that TSB customers will have access to more branches, which at least implies they will get rid of the brand, unless they follow the Lloyds Banking Group's approach and allow customers of multiple brands to use any of their branches.

danny13579

EarthBoy said:
However, he says that TSB customers will have access to more branches, which at least implies they will get rid of the brand, unless they follow the Lloyds Banking Group's approach and allow customers of multiple brands to use any of their branches.

Lloyds kind of have to offer this facility as there are parts of the UK where Lloyds (and Bank of Scotland) have no branches (Northern Ireland) and so people with Lloyds or BoS accounts who need branch access have to use a Halifax branch.

Same with NatWest. There are no NatWest or RBS branches in NI, only Ulster Bank.

Santander and TSB both have branches in the whole of the UK, so they could be merged into one brand more easily without affecting people who need branch access as much.

EarthBoy said:

In this interview, Santander's Chief Financial Officer confirms that TSB will be migrated to the Santander platform. 

My memory is a little hazy, but wasn't it the migration to the Sabadell platform that caused the meltdown in 2018? I hope they've learned some lessons from this! 

EarthBoy

danny13579 said:

EarthBoy said:

In this interview, Santander's Chief Financial Officer confirms that TSB will be migrated to the Santander platform. 

My memory is a little hazy, but wasn't it the migration to the Sabadell platform that caused the meltdown in 2018? I hope they've learned some lessons from this! 

It was indeed.  Santander will probably say that they managed to migrate Abbey National, Alliance & Leicester, and Bradford and Bingley accounts without major problems, so they're not expecting any problems migrating TSB.  

steven141

I wonder if they will start to use TSB sort codes for new Santander accounts or just keep them for existing accounts. They have some 77 and 87 sort codes very different to Santander's 09 sort codes.

EarthBoy

steven141 said:

I wonder if they will start to use TSB sort codes for new Santander accounts or just keep them for existing accounts. They have some 77 and 87 sort codes very different to Santander's 09 sort codes.

TSB also have some 30 sort codes, where the branch was originally a Lloyds branch.
When Santander took over Alliance & Leicester they changed all the sort codes from 72 to 09, so I expect they will do the same with TSB and change all the 30, 77, and 87 sort codes to 09.  

MSE_Molly_G

Hi everyone. We've published a story on the sale of TSB to Santander: https://www.moneysavingexpert.com/news/2025/07/santander-tsb-takeover/. Thanks!

steven141

EarthBoy said:

steven141 said:

I wonder if they will start to use TSB sort codes for new Santander accounts or just keep them for existing accounts. They have some 77 and 87 sort codes very different to Santander's 09 sort codes.

TSB also have some 30 sort codes, where the branch was originally a Lloyds branch.
When Santander took over Alliance & Leicester they changed all the sort codes from 72 to 09, so I expect they will do the same with TSB and change all the 30, 77, and 87 sort codes to 09.  

Thanks, that's interesting to know and will keep them nice and tidy.

I can only imagine the mess with Virgin Money and Nationwide. There are so many different sort codes from different banks acquired over the years. I wonder if they will all move to 07.

HillStreetBlues

EarthBoy said:

In this interview, Santander's Chief Financial Officer confirms that TSB will be migrated to the Santander platform. 

Watch Santander CFO Says TSB Brand Has a ‘Lot of Value’ - Bloomberg

When asked if they will do away with the TSB brand, he doesn't actually say one way or the other, he just says they will decide what to do when the merger completes.  However, he says that TSB customers will have access to more branches, which at least implies they will get rid of the brand, unless they follow the Lloyds Banking Group's approach and allow customers of multiple brands to use any of their branches.

I will take that with a large pinch of salt, Buy something then decide! I think not.

Gers

GeoffTF said:

Gers said:

https://www.bbc.co.uk/news/articles/cdjxxvg3vpeo

TSB name could disappear from UK in Santander deal

Is that shocking enough to deserve the giant print?

No - it was a copy and paste from the BBC website which I couldn't change.  Not sure why it bothers you so much...but, no need to explain. It matters not.