Banks Selling Branches - Black Horse
Discussion
Perhaps I am being thick here but..... if Lloyds has to sell its branches that's one thing.
But it appears that this will mean the customers, whether current, saving, loan or whatever, will also be part of the deal.
Now, how can a customer be "forced" to become part of this sale and be required to bank with someone else.
Personally I have (sadly, and for bad and good) banked with Lloyds for 31 years. What if I don't want to have a new banker?
But it appears that this will mean the customers, whether current, saving, loan or whatever, will also be part of the deal.
Now, how can a customer be "forced" to become part of this sale and be required to bank with someone else.
Personally I have (sadly, and for bad and good) banked with Lloyds for 31 years. What if I don't want to have a new banker?
The same way Alliance and Leicester customers now bank with Santander.
The same way any other business is sold and their customer lists come with the sale of the business.
And as similar in the above situations, customers can then choose to take their business where they want. They will probably have been forewarned of the takeover, so if they are concerned, they can even switch before their accounts get transferred.
No one is 'forcing' anyone to bank with any specific company.
If you don't want a 'new' banker, you might have to make do with no banker.
The same way any other business is sold and their customer lists come with the sale of the business.
And as similar in the above situations, customers can then choose to take their business where they want. They will probably have been forewarned of the takeover, so if they are concerned, they can even switch before their accounts get transferred.
No one is 'forcing' anyone to bank with any specific company.
If you don't want a 'new' banker, you might have to make do with no banker.
Yes, I fully take your point about an entire business transferring, whether A&L, Bradford and Bingo, Northern Sock or the ShAbbey itself.
What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
K12beano said:
Yes, I fully take your point about an entire business transferring, whether A&L, Bradford and Bingo, Northern Sock or the ShAbbey itself.
What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
Customers!! units my friend, units.;)What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
Yup - me age is showing!
K12beano said:
Yes, I fully take your point about an entire business transferring, whether A&L, Bradford and Bingo, Northern Sock or the ShAbbey itself.
What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
Probably depends on whatever the contract of sale was.What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
We will never know the exact algorithms used to split accounts.
If anyone is tempted to open an account with the Co-op - they are deeply entwined with Labour
http://www.telegraph.co.uk/finance/2935222/Labours...
http://www.telegraph.co.uk/finance/2935222/Labours...
K12beano said:
Yes, I fully take your point about an entire business transferring, whether A&L, Bradford and Bingo, Northern Sock or the ShAbbey itself.
What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
Lloyds is made up of about dozen banks/units that they have acquired over the years or established (LLoyds, TSB, LLoyds TSB Scotland, Bank of Scotland, Halifax, Cheltenham and Gloucester Building Society, Birmingham Midshires, Intelligent Finance, to name a few).What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
What they're mainly doing is pulling some of these businesses whole out of the Lloyds Banking Group to form the new bank they're required to sell off. So basically they're selling the TSB brand, Intelligent Finance, all Cheltenham & Gloucester branches and accounts and all Lloyds TSB Scotland branches and banking licence. The latter because they've obviously got lots of Halifax and Bank of Scotland branches now. They're also selling some supplementary branches in England & Wales to meet the 600 branch minimum and ensure an adequate geographical spread.
A customer's account is with the branch, not the bank. So when they have to sell the branch the customers go with it. But you're free to change another branch if you wish to stay with the bank (they're just not allowed to actively encourage it for obvious reasons) just as you're free to change to another bank altogether.
K12beano said:
Yes, I fully take your point about an entire business transferring, whether A&L, Bradford and Bingo, Northern Sock or the ShAbbey itself.
What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
IIRC it starts..What I meant was how does a split its existing customer base and is it fair that I may get hived off to a Coop. Or even that some of my accounts might go one way whilst others stay put.
I suppose, the question is more broadly does anyone have any knowledge of how the decision to select customers would be made?
Eeny meeny miny mo....
Sheesh I personally don't think I could have MADE it more obvious!!! 
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