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“Closed my account after 43 years good riddance”

written by JanHamilton82 on 29/12/2015

When I opened a Lloyds account in 1972 it was widely regarded as the best of the Big 4 banks (Midland, Barclays ad NatWest were the main competition with Coop and Yorkshire banks in the north; the Scots banks only operated in Scotland). Over the years there has ben a steady deterioration, but this has become much worse over the last five years.

My experiences includes having cheques bounced, even though there were sufficient cleared funds in my account, debit cards that lock up for no reason (and then being patronized by staff who think I cannot understand how to use them), on-line transactions being blocked for no good reason, and fraudulent activities in the account that Lloyds never adequately explained despite requests. I have been talked down to in branches, made to stand in long queues while a single teller does the lunchtime shift, despite other staff standing around chatting. and having staff slam down their screen as I walk up the counter. And don't get me on to their improved on-line banking system.

I made the mistake of trusting savings to Lloyds Private Banking, who managed to lose 1/3rd of it in 18 months through poor investment choices. The last straw there was the Scottish referendum when I wanted to move investments to safety - no-one was available to speak to in the two weeks before the referendum and a Yes vote would have been financially disastrous as Lloyds had managed to invest most of the money in Scottish companies and investment funds, mostly owned by itself (and readers should be aware that Lloyds is technically a Scottish bank - funny that). When I wrote expressing concern in late September 2014 I received a phone call offering me the chance to discuss my concerns with a 'consultant at the end of March 2015, a mere 6 month wait for a chat (is that a record?). So I moved all the investments to a company in London; Lloyds did not even bother to ask me why.

I have since concentrated on moving my current account and recently switched to one of the smaller challenger banks, who have been very helpful and keen to get my business. Last month I finally went into Lloyds and asked at the counter to close my account, which was done there and then by a rather bored girl who did not ask me why.

A few days later I received a general email asking me to complete a survey on why I had left (nothing as sophisticated as a personal letter asking why I was leaving after 43 years). I attempted to complete this, but, guess what, all the links were broken, so I could not progress beyond the first page. So they don't have all the comments I was looking forward to making about their complacency, laziness and general incompetence. I suspect they don't really want to know.

Lloyds goes through the motions of being a high street bank but I find it difficult to think of any reason to use or recommend them. Even if it is the only bank in town I would still go to First Direct or something similar. It has lost the will to improve and will not do so until new management changes the 'can't do' corporate culture. A lot more people need to vote with their feet and wallets and switch to modern banks. Don't waste your time with these losers.