Sale of 632 Lloyds branches to Co-op

[Flosshilde]

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?

Never mind, RM - it's 'the markets' & competiton at work, so that should make you happy. No doubt many people who had accounts with the TSB weren't too happy when that was taken over by Lloyds. (Not to mention all those other victims of capitalism who were happy to be members of mutual building societies & then found that they were transformed into commercial banks)

[johnb]

I've banked with the Co-op Bank for about 40 years. I've always found them very helpful and there have never been any mistakes on my account - and I rigorously check my statements. For the last 10 years I have also had a Smile account (run by the Co-op Bank) and they have also been very good, even if their interest rate has been rubbish in recent years.

Reading between the lines it looks as though the Lloyds systems and will continue for Lloyds customers and possibly extended to the existing Co-op Bank customers rather than the other way round. So perhaps it is the people with existing Co-op bank accounts who should be worried.

I should confess that the Co-op Bank account was initially forced on me when I started working for the food distribution arm of, what was then, the CWS but I have no regrets at all. (They have been much more helpful than Nat West who I was was with before.)

[Resurrection Man]

Never mind, RM - it's 'the markets' & competiton at work, so that should make you happy....

Umm.no, please get your facts correct. It was mandated out of Brussels.

[Cavaradossi]

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.

I moved my current account to the Co-op a few years back, very good service so far. One benefit I do like is that cash and cheques can be paid in at any post office, never had the need to visit a branch since opening my account.

[Resurrection Man]

Bit of advice to anyone wishing to stay with Lloyds.

Transfer your branch to one of those NOT being converted. Do it on Monday!

[Serial_Apologist]

Bit of advice to anyone wishing to stay with Lloyds.

Transfer your branch to one of those NOT being converted. Do it on Monday!

As a LLoydsTSB accounts holder, I asked to transfer my designated branch from where I had been living, in Essex, to the nearest one to where I now live, and told, this is not possible!

[Pegleg]

As a LLoydsTSB accounts holder, I asked to transfer my designated branch from where I had been living, in Essex, to the nearest one to where I now live, and told, this is not possible!

What? This is so typical, the LloydsTSB sale is being driven by EU regs and supposedly is to help customers, but it's us poor sods who loose out. This sounds like an IT nightmare waiting to happen and I should think every LloydsTSB customer rues the day when GB persuaded them to take over HBOS. Better shoot the black horse now.

[Eine Alpensinfonie]

...and supposedly is to help customers, but it's us poor sods who loose out.

...except that the Co-op is one of the few banks not to have gambling debts or corrupt officials.

[Pegleg]

...except that the Co-op is one of the few banks not to have gambling debts or corrupt officials.

Rightly or wrongly, not everyone has ethical banking as the foremost criteria when setting up a bank account. So while some may welcome being transferred to the CO-OP, although I understand they will trade under another name, for others it will cause problems, they will be fearful of the logistics nightmare that might follow and will object to having their account sold like any other commodity. Of course, no bank should have gambling debts or corrupt officials. But as LloydsTSB remains with around 40% public ownership would you extend your view of "gambling and corruption" to HMG? The whole thing has descended into a very sorry mess. It could yet be that this sale will turn into a poison chalice for the Co-op, I sincerely hope not, but it remains a possibility.

[french frank]

It could yet be that this sale will turn into a poison chalice for the Co-op, I sincerely hope not, but it remains a possibility.

I wonder what the criteria were for choosing the branches to be transferred. Bristol has only one Coop branch, right in the centre of town - yet it's not getting any of the new ones.

[subcontrabass]

I wonder what the criteria were for choosing the branches to be transferred. Bristol has only one Coop branch, right in the centre of town - yet it's not getting any of the new ones.

Bristol seems to be getting the Cheltenham & Gloucester branches at 20 Clare Street and at 36-38 Merchant Street.

[johnb]

Bristol seems to be getting the Cheltenham & Gloucester branches at 20 Clare Street and at 36-38 Merchant Street.

The Co-op Bank taking the Lloyds Clare Street branch seems an extremely odd (not to say questionable) decision. The existing Co-op Bank branch is only 100 yards away (perhaps less). Keeping both branches open cannot be sustainable in the medium to long term.

[ahinton]

As long as the Co-op doesn't take on that soprano in the ads...

[Serial_Apologist]

The Co-op Bank taking the Lloyds Clare Street branch seems an extremely odd (not to say questionable) decision. The existing Co-op Bank branch is only 100 yards away (perhaps less). Keeping both branches open cannot be sustainable in the medium to long term.

For all 3 branches to be located more-or-less in the centre of Bristol is extraordinary, for the largely working class city the Co-op should be ready-made to cater to... a city, indeed, of nearly half a million inhabitants!

[french frank]

The Co-op Bank taking the Lloyds Clare Street branch seems an extremely odd (not to say questionable) decision. The existing Co-op Bank branch is only 100 yards away (perhaps less). Keeping both branches open cannot be sustainable in the medium to long term.

Isn't the Clare Street one a Cheltenham & Gloucester, not a Lloyds? Different type of business.