A big change to Lloyds Bank, Halifax and Bank of Scotland branches has sparked concerns for customers in Birmingham and beyond. Lloyds Banking Group will allow customers to use any of its Halifax, Bank of Scotland and Lloyds branches as part of a shake-up that has sparked fears of job cuts and site closures.
A memo circulated to staff earlier this week explained that customers would be able to conduct their in-person banking at branches of any of the group’s three brands. That is regardless of which of lender they held accounts with.
Unions representing Lloyds Banking Group staff are concerned this could open the door to job cuts, given that roughly 25% of the high street lender’s branches were within close distance of one another.
READ MORE Octopus issues £900 warning to anyone who is a customer with them
“We’re always looking for ways to make banking easier and more flexible for our customers so, from later this year, we’ll offer customers of Lloyds, Halifax and Bank of Scotland the option to use branches of any brand for their in-person banking, alongside our apps, mobile messaging, and telephone services,” the company said.
Ged Nichols, the general secretary of the union Accord, said he hoped that any decision to cut branches would include plans to redeploy staff to other departments. This is part of the ongoing change in branch banking. The rationalisation of premises in and of itself is not a threat – but clearly we want to ensure that employment is protected and that the bank finds alternative roles for the talented people it employs to service its customers.”
It comes months after it emerged Lloyds shareholders could take a £1 bn hit over the car finance crisis. Analysts forecast bank will have to halve £2 bn buyback plan, as ex-boss of City regulator blames watchdog for crisis, with the reports emerging last year.