Sale of 632 Lloyds branches to Co-op

[Guest]

I have only just discovered that if you have an account with one of these branches then you will become a customer of the Co-op. You do not have any right of veto. You wil be transferred. The only way to stay with Lloyds if that is your wish is to close the account and open up a new one with Lloyds.

So what happens if you are running an overdraft, say? Is this going to be pulled? Or have different savings vehicles , ISAs etc. Are they going to be on the same rate? Chances are that they won't be.

This is a veritable dogs dinner. Whoever thought about this should be strung up.

[Serial_Apologist]

I have only just discovered that if you have an account with one of these branches then you will become a customer of the Co-op. You do not have any right of veto. You wil be transferred. The only way to stay with Lloyds if that is your wish is to close the account and open up a new one with Lloyds.

So what happens if you are running an overdraft, say? Is this going to be pulled? Or have different savings vehicles , ISAs etc. Are they going to be on the same rate? Chances are that they won't be.



This is a veritable dogs dinner. Whoever thought about this should be strung up.

I live in S London but my branch is in Essex. Does this mean that if it changes hands, they will have to inform me?

[Petrushka]

After a run-in with Lloyds TSB a few months ago regarding their amateurish and harrassing debt collection department sfter an accidentally missed credit card payment (don't ask) I just wish my branch was one transferring over but, alas, it isn't.

I could move to the Co-op anyway, and will in time when it will cause me less hassle than now, but the automatic option would suit me perfectly.

[LeMartinPecheur]

I'd have thought that a forced transfer from the Co-op to Lloyds would give far greater grounds for concern! The Co-op still stock that old-fashioned product..., now what was it called...?

Ah yes, ethics!

[Serial_Apologist]

After a run-in with Lloyds TSB a few months ago regarding their amateurish and harrassing debt collection department sfter an accidentally missed credit card payment (don't ask) I just wish my branch was one transferring over but, alas, it isn't.

I could move to the Co-op anyway, and will in time when it will cause me less hassle than now, but the automatic option would suit me perfectly.

I myself have been thinking along these lines too, Petrushka. However, for me it is important to have an actual physical branch of whatever bank I am with in the neighbourhood, and I'm not sure that is the case re the Co-op.

[decantor]

I live in S London but my branch is in Essex. Does this mean that if it changes hands, they will have to inform me?

As I understand it, LloydsTSB will write to every account-holder whose branch is switching to the Co-op.

I'm nervous, too. My account is held at a LTSB branch, 40 miles away, that I last visited in 1972. It hasn't mattered until now, but things like S/Os and D/Ds will presumably be changed automatically. But I shall be annoyed if my account number also changes: the account was set up in 1960, and I can actually remember the sort-code and number, but I doubt if my tired old brain will be able to store new ones.

Yes, overall it sounds a mess. Yet another inspired stroke of brilliance from Brussels (which required the LTSB sell-off).

[Eine Alpensinfonie]

I once had my current account with the Co-op Bank, but when I moved to North Yorkshire, there wasn't a local branch, so I switched to another bank. The Co-op made mistakes with my account, just as other banks do, but I did like their approach. However, I can't stand shopping at the Co-op. Every single store has the most intrusive piped music. When I complain, they say it's company policy.

So I run away to the Big Boys (Tesco, Sainsbury's and Waitrose) and shop in peace.

[Flosshilde]

I think that if you have an account at a LTSB branch that is being transferred you can opt out, which I take to mean that you can transfer your account to another LTSB branch. But I assume that thje LTSB website would have more information.

I bank with the Co-op, & the only branch in Glasgow is in the city centre, so it will be a bit more convenient if my local branch of LTSB is moved to the Co-op.

I shop at the Co-op, but it does irritate me - not because of the music (I haven't noticed any) but because the staff are badly trained & it is badly managed.

[Don Petter]

Here's the list, if you want to know:

http://www.lloydstsb.com/media/lloydstsb2004/pdfs/Verde_transferring_branches.pdf

[vinteuil]

I bank with the Co-op, & the only branch in Glasgow is in the city centre, so it will be a bit more convenient if my local branch of LTSB is moved to the Co-op..

... I think I read that ALL Lloyds branches in Scotland were to be transferred to the Coöp. I will check...

[Resurrection Man]

I think that if you have an account at a LTSB branch that is being transferred you can opt out, which I take to mean that you can transfer your account to another LTSB branch. But I assume that thje LTSB website would have more information.

I bank with the Co-op, & the only branch in Glasgow is in the city centre, so it will be a bit more convenient if my local branch of LTSB is moved to the Co-op.

I shop at the Co-op, but it does irritate me - not because of the music (I haven't noticed any) but because the staff are badly trained & it is badly managed.

No, you cannot opt out. As I said in my OP, the only way is to close your 'new' account and then re-open a new account at a branch of lloyds. Whether or not you are able to have the same overdraft facility or even the same mortgage is, of course, open for discussion. And what about those people who opted to pay a bit extra and get a load of bundled extra services thrown in. How is that going to work for them?

[Resurrection Man]

Her's the list, if you want to know:

http://www.lloydstsb.com/media/lloyd...g_branches.pdf

Don, thanks for that. Do you know what the reference is to Cheltenham and Gloucester branches. By that am I correct in assuming that it is C&G branches and NOT Lloyds branches in those towns?

[Don Petter]

Don, thanks for that. Do you know what the reference is to Cheltenham and Gloucester branches. By that am I correct in assuming that it is C&G branches and NOT Lloyds branches in those towns?

Yes, as I read it, that is the case.

[Serial_Apologist]

Her's the list, if you want to know:

http://www.lloydstsb.com/media/lloyd...g_branches.pdf

Many thanks indeed, Don.

Well that's a relief to me, anyway.

[french frank]

Given that I was with the TSB until it was taken over by Lloyds, I was hoping my local would be one of the Coop's new TSB branches. But no ...