Money alert: Lloyds branches becoming TSB

Some five million customers of Lloyds will soon be part of the re-launched TSB bank. Will that be you? It depends. Those affected by the switch – which has been forced upon the Lloyds Banking Group by the EU – are customers of the former Cheltenham & Gloucester and TSB Scotland brands.

Their branches, around 632 of them, will be rebranded TSB, and customers are being sent out rebranded TSB plastic cards and chequebooks. The new bank is set to launch in the summer with a website and rebranded branches.

But there will also be changes to the terms and conditions. One affect will mean TSB customers will no longer be able to use services for free at their local Lloyds branch.

Meanwhile, Lloyds customers who use TSB branches will lose the same-day transfer of money to their accounts. Call 08459 758 758 to find out more.