Co-Op & Lloyds

[Never-In-Doubt]

Interesting...

As the Co-op takes over 632 Lloyds TSB and Cheltenham & Gloucester branches, we look at what it means for the 4.8m customers involved

--> Co-op and Lloyds TSB: what does it mean for me? | Money | The Guardian

* 5corps, please blog this if you get time thanks

[philnicandamy]

Re: Co-Op & Lloyds

Hmm very..saw the news late yesterday

[mk_chatham]

Re: Co-Op & Lloyds

Hi everyone

Read about this last night. What does this mean for Co-op and Smile customers with old defaulted LloydsTSB current accounts, there must be quite a few of us on here ?

My old LloydsTSB branch is on 'the list' with a balance of £530 o/d. I was paying £1 tokens but stopped that in Dec 2011. Will defaulted accounts be sold ? Will there be a right of offset against Co-op and Smile accounts ?

MK

[helmsman]

Re: Co-Op & Lloyds

Hi everyone

Read about this last night. What does this mean for Co-op and Smile customers with old defaulted LloydsTSB current accounts, there must be quite a few of us on here ?

My old LloydsTSB branch is on 'the list' with a balance of £530 o/d. I was paying £1 tokens but stopped that in Dec 2011. Will defaulted accounts be sold ? Will there be a right of offset against Co-op and Smile accounts ?

MK

Yes I have a ltsb cc did not think of that, other half has coop acc so roso hopefully wont apply.

[Never-In-Doubt]

Re: Co-Op & Lloyds

so roso hopefully wont apply.

It may well do (sadly). Well that depends on the finalisation of the deal. Lets assume that coop absorb ex LTSB customers into a new coop account then you might be ok, I am explicitly saying that ROSO may apply in cases where the customer has debt with coop or has a coop account and a LTSB account (current accounts). Remember the coop are not purchasing lloyds or their book, it's quite simply a transfer of assets so at this stage we can't say for certain.

So if you had debt with coop and then left to open Lloyds, you couldn't revert back to coop now without RoSO kicking in. If however you had banking/debt with Lloyds and none with coop, you'll be fine to move.

[Never-In-Doubt]

Re: Co-Op & Lloyds

sorry edited post as confused myself

[SXGuy]

Re: Co-Op & Lloyds

We can all keep our fingers crossed that they lose a lot of defaulted accounts during the interim lol

[vossy]

Re: Co-Op & Lloyds

Well maybe, like the Barclay's -Egg deal, many of us have benefited from Egg or Barclay's losing valuable paperwork

[mk_chatham]

Re: Co-Op & Lloyds

Yes I have a ltsb cc did not think of that, other half has coop acc so roso hopefully wont apply.

Hi

I have read somewhere, but can't find the link at the moment that credit cards, taken out by personal bank customers of the branches on the list are NOT being transferred, they are still going to be held by LTSB.

I hope this is the case as I have a UE LTSB CC as well as the O/D with them.

I opened my Smile account before the all my defaults came and still have a cheque book and a £500 O/D facility that gets used very, very rarely - but is handy for emergencies and I would like to keep that facility.

Should I be thinking about changing my bank, just to be safe?

MK

[Susie]

Re: Co-Op & Lloyds

I have a Lloyds credit card and overdraft as well, the credit card has a very different address to the old bank account, and I am hoping to hell that the fact that neither appeared when I last tried to log onto the internet banking and that the accounts were with their collections department that they have terminated the accounts and that they cannot transfer a terminated account

If it/they are held by the branch I am stuffed because I cannot open another bank account (Niddy understands!) and the other current account that I have is a N. Rock one thats now Virgin and although I can transfer the direct debits to it there is no internet banking whereas the Co-op gives me the online side.

I suppose at least its going to be a year until anything happens so I may be able to beg/borrow/steal enough for a f&f if it came to it