Halifax to vanish?

redux

https://forums.moneysavingexpert.com/discussion/comment/82010190#Comment_82010190

Well, at the moment accounts of the same type have different names

If we gradually forget which of those is which, the sort codes may help, as they still start with 11 or 30 or 77 or 80. They might start new accounts in other branches though

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82010177#Comment_82010177

If they aren’t claimed after six odd years these sorts of things are usually forfeited. Abbey National acquired it in 1996 so I’d assume it’s gone.

Maegi

https://forums.moneysavingexpert.com/discussion/comment/82010190#Comment_82010190

What a load of rubbish...Lloyds used to do exactly that setup in pre-LBG days. They had LloydsTSB Bank and LloydsTSB Scotland; both used the LloydTSB brand but each had separate FSCS protection.

They can simply require new customers to open accounts with either Lloyds or BOS. Existing customers would retain the same protection they have now.

Once the dust settles, they will probably use Part VII of the Financial Services and Markets Act 2000 to transfer them en-masse from BOS to Lloyds.

King_Of_Fools

I would expect the rebranding (with separate banking licences) to be a temporary arrangement.

The fact that no new Halifax accounts could be opened will slowly start to have an effect on the numbers of Halifax accounts when people come to renew them.

But I would expect they will start migrations at some point. They could do it on a branch-by-branch basis - when they close down the Halifax branch they could migrate people to their nearest Lloyds branch and migrate all the accounts with that sort code at that point in time.

GTR_King

that could work let’s see what happens