Back to the future as Tod gets a TSB

Pictured at the new TSB branch at Halifax Road, Todmorden, are Shirley Wiszniewski and bank manager Andrew Tipton
Pictured at the new TSB branch at Halifax Road, Todmorden, are Shirley Wiszniewski and bank manager Andrew Tipton

In some ways, it was back to the future for customers of a Todmorden bank this week.

The restructuring plan undertaken following a ruling by the European Commission that Lloyds Banking Group should transfer part of its business to a new owner means 631 branches are now part of the TSB, created from within the divested branch network.

This week the group officially announced the creation of two banks - TSB and Lloyds Bank - and one of the branches across Britain which is now part of the TSB is the one in Halifax Road, Todmorden.

Other brands, such as the Bank of Scotland and the Halifax still exist within the Lloyds group.

A spokesman for Lloyds Banking Group said TSB would build on that brand’s 200-year-old heritage and Todmordians will remember that before TSB merged with Lloyds in 1995 it had its own branch in Todmorden.

As part of the change, said the Lloyds spokesman, customers of both Lloyds and TSB will be able to use both branded banks for their everyday banking needs for some time to come.

Account terms and conditions such as interest rates, including SVR and Vantage, will not change, said the spokesman. Account numbers will remain the same and standing orders and direct debits will be unaffected. TSB will have 8,000 staff nationwide, 4,500 of them in branches.