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When Lloyds sell off their branches...


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The papers are full of the implications of Lloyds having to dump some branches, but one throwaway comment caught my eye - Virgin are apparently bidding in an effort to set up their own retail banking structure (Hmmn - as long as we don't expect banks to run on time we should be OK) and getting hold of the Lloyds branches will give them a running start, said one paper that I saw, because the branches would be sold as a going concern, customers, mortgages and all.

 

(Some of these "spare" branches are former Cheltenham and Gloucester outlets)

 

Now I don't mind the branch network being thinned out - provided it doesn't leave communities completely without access to banking - but I would object to my account being sold on to another lender without some serious consultation up front.

 

Anyone able to shed more light on this?

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The only consultation might be with shareholders.

If you are a customer - and especially if you don't have much money then you are just a cash cow and when your udders are dry, you get sold off to the DCA's to be turned into glue.

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