If you have been with your bank for years, you might find it annoying to undergo new security checks to prove your identity before opening a new account or taking out a loan. But that is the prospect faced by Lloyds customers whose branches are being sold to the Co-operative Group but who wish to stay with the bank. Lloyds has agreed to sell 632 branches to the Co-op to meet European competition requirements.

Details are still being negotiated, but if all goes to plan the sale will take place next year. Five million customers of Lloyds and its Cheltenham & Gloucester division will be affected – and if they do nothing they will become Co-op customers. Those who do not want to move will have to close their Co-op account and open a new account with Lloyds....Read more here--: http://www.thisismoney.co.uk/money/c...-know-you.html