![]() ![]() You have to book your holidays a year in advance and if you are a newcomer you have zero chance of getting your holidays as they allocate holidays on a seniority basis and if you are band A and have just started you literally have no chance of getting the holidays you would like. You are employed on what they like to call a (flexible working contact) and what this basically means is that you are flexible and the bank is not. Our Q&A on ethical banking has more.If you like having a life I would highly recommend that you don’t work here. Looking at the Co-op Bank (and Smile) as a separate entity the magazine says it offers "a unique and ethical policy and a campaigning brand". The magazine explains this is because it is part of the Co-operative Group which, as a supermarket, is involved in animal farming. "Our ethos will not change, We are a mutual and not about maximising profit, we are motivated differently and that won't change just because we're becoming bigger, so we'll do things slowly, in stages, to ensure all customers continue to have a good experience."Įthical Consumer rates the Co-op and its online arm, Smile, as a best-buy despite the fact that it has given the bank a fairly poor ethical rating. "We wouldn't be doing this if we thought service would go downhill," he said. But it will be completely ring-fenced from the rest of Lloyds Banking Group and won't take place for a few years."ĭoes that mean that as an existing Co-op customer my service will go downhill? But taking on 4.8 million new customers is a much bigger proposition, so we're going to use Lloyds' existing infrastructure. A spokesman said: "When we integrated Britannia, it was a similar-sized business so we migrated their customers across to us. Rather than move TSB customers to a Co-op administrative platform, the Co-op will shift its own customers to the TSB back office. Will Lloyds Banking Group still be running the back office? Lloyds Banking Group will have to rebrand its remaining network of 1,300 Lloyds TSB branches – the new brand is not yet decided – and has said it will keep customers updated on its plans. I'm a Lloyds TSB customer remaining with Lloyds Banking Group. Neither pay interest on accounts that are in credit, but Nationwide pays interest of up to 2.75% on its cash Isas, compared with Co-op's measly 0.5%. Nationwide and Co-op have similar charges for unpaid cheques and unauthorised overdrafts (£15 and £20 respectively), but while Nationwide caps the fees at £95 a month, Co-op caps them at £150 a quarter. He said that for fee-free current accounts, the Co-op charges 15.9% on both authorised and unauthorised overdrafts, while Nationwide – the biggest rival mutual – charges 18.9%. "It will be a good number of years in the future before there is a single customer experience."ĭoes Co-op offer the most competitive current account for a mutual?Īccording to Andrew Hagger of .uk, Co-op current accounts are "generally very good". ![]() "When we bought Britannia, we migrated customers to a single rate, but we can't do that kind of thing overnight," he said. Will I get the same rate I had at Lloyds TSB?Ī Co-op spokesman said it was too early to talk about rates and charges. ![]() But it said: "Customers won't need to do anything differently as there will be no changes for some time, and branches will not close as part of the transfer." Co-op said that once the TSB business becomes part of its group, it will "operate separately for a period of time ahead of integration with the existing Co-operative Banking Group business". Lloyds says that once it has reached a legally binding agreement to transfer the branches, it will write to customers whose accounts are transferring with more details about what it means for them. Will I have to change my direct debits and inform lots of organisations about the change? Co-op has not said yet when a further rebranding from TSB to Co-op will take place. They will then transfer to the Co-op under the TSB brand. The branches being sold to Co-op will firstly be rebranded to TSB (rather than Lloyds TSB) in the summer of 2013 ahead of a deal being completed by November 2013. When will my branch become a Co-op branch? The Lloyds TSB website has a handy guide to all branches affected here. All Cheltenham & Gloucester customers will shift across, plus those registered at all Lloyds TSB Scotland branches and some Lloyds TSB branches in England and Wales. ![]()
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