RBS & Lloyds branches 'sell off' what does this mean for my account with them ?

**AtW** · 3 November 2009, 08:44

Originally posted by eliquant View Post

in order to eliminate 'unfair competition'.

And you think having Lloyds TSB controlling like over 50% of retail market is fair or in other words competitive?

Lloyds TSB is likely to be broken up alongside it's branch network - those who were with TSB (very old), Halifax (recent) etc will probably end up in a new bank.

The great irony is that it looks like shareholders of Lloyds TSB will get another shafting - it won't be just bad assets separated that they were forced by Grown to buy, but also good ones, so in effect Lloyds may become smaller than it was before competition - I was really unhappy whey it got into this tulip with Halifax, they should have stayed away from it.

**Andy2** · 3 November 2009, 09:50

I hold Lloyds shares
Is there any hope for me ?

**AtW** · 3 November 2009, 10:01

Originally posted by Andy2 View Post

I hold Lloyds shares
Is there any hope for me ?

Your only hope is threaded's time machine...

**realityhack** · 3 November 2009, 10:24

It means nothing for your account with them. There will be no change to existing Ts & Cs for a while, according to this morning on R4.

**DimPrawn** · 3 November 2009, 10:25

Don't worry, you'll get the same tulip service and laughable interest rates on any savings you have.

**threaded** · 3 November 2009, 10:29

Originally posted by eliquant View Post

I haven't had much time to read up on this or watch the news but what is going on exactly ? from what I understand some European commision have created a mandate for the UK government to break up and sell off their majority state owned branches of RBS and Lloyds in order to eliminate 'unfair competition'.

Does this mean that one's RBS and Lloyds current account could be sold off to Bill Swadiwadi bank and managed by them ? surely not.

What on earth is going on ? please explain.

It's just another bail out.

These bail outs will continue until someone says no more.

It's all a race to the bottom you see.

**sasguru** · 3 November 2009, 11:00

Originally posted by DimPrawn View Post

Don't worry, you'll get the same tulip service and laughable interest rates on any savings you have.

WHS. I have moved substantial sums out of Llloyds and have about 3 accounts with odd amounts like £6.73, $3.78 and £8.99 in them.
This will be my revenge for their poor service.
It will cost them more to service my accounts than their value

And they're so crap they won't notice for months.

RBS & Lloyds branches 'sell off' what does this mean for my account with them ?