Co op take over of Lloyds branches

[Russethouse]

This article contains a list of affected branches: http://www.lloydstsb.com/media/lloydstsb2004/pdfs/Verde_transferring_branches.pdf

It may be relevant for some of you, now resident in France, with existing Lloyds accounts who would find it difficult to open new UK accounts, or by the looks of the article, even stay with Lloyds ( although it seems to be early days, things may change )

[Pickles]

The offering from the Co-op at present is different: however, those affected should bear in mind that the Co-op does not feature much in the complaints columns of newspapers etc. The Co-op does in general live up to its "ethical banking" aspirations (in any case, to a far greater extent than any of the other majors).

I am a long-standing Co-op bank customer (and therefore Co-op member) but cannot be considered to be in the slightest bit biased ...

[Russethouse]

I guess all will be well if the existing Lloyds accounts are just taken over, its if they start wanting to make 'new ' accounts, that there may be problems for customers who are no longer resident.

Several people on MSE have mentioned that Lloyds dont want to transfer accounts to other branches, but want customers to close existing accounts and open new ones at other branches.

One to watch.

[Pickles]

[quote user="Russethouse"]I guess all will be well if the existing Lloyds accounts are just taken over, its if they start wanting to make 'new ' accounts, that there may be problems for customers who are no longer resident.

Several people on MSE have mentioned that Lloyds dont want to transfer accounts to other branches, but want customers to close existing accounts and open new ones at other branches.

One to watch.[/quote]

My (limited) understanding of the process is that existing accounts would simply be transferred across to the Co-op, with the existing a/c numbers. That's why if people wish to change branch now (in order to stay with Lloyds), they will have to close their existing account and open a new one in the new branch.

[nomoss]

Several aspects of this were discussed here last year http://services.completefrance.com/forums/completefrance/cs/forums/2634886/ShowPost.aspx

[Russethouse]

[quote user="Pickles"][quote user="Russethouse"]I guess all will be well if the existing Lloyds accounts are just taken over, its if they start wanting to make 'new ' accounts, that there may be problems for customers who are no longer resident.

Several people on MSE have mentioned that Lloyds dont want to transfer accounts to other branches, but want customers to close existing accounts and open new ones at other branches.

One to watch.[/quote]

My (limited) understanding of the process is that existing accounts would simply be transferred across to the Co-op, with the existing a/c numbers. That's why if people wish to change branch now (in order to stay with Lloyds), they will have to close their existing account and open a new one in the new branch.

[/quote]

My understanding from posts on MSE is that having to close an account at one branch and start again at another is pretty much standard Lloyds policy and not new for this situation.

I should think all will be well as long as the Co op offer a similar product to Lloyds

C&G customers who have a mortgage linked to 2% above base rate must be tad apprehensive.......apparently no one offers that type of rate now so it's to be hoped that Co op keep the deal!

It could also have ramifications for those with amounts near the limit of the safeguard in both banks......will they be covered still?