Lloyds TSB Review

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illumin8ed's review of Lloyds TSB

★☆☆☆☆

“I have been with Lloyds for 20 years now, and when I...”

Written on: 11/10/2007 by illumin8ed (1 review written)

Good Points
Internet banking is OK and card can be used in many cash points around the country

Bad Points
Staff are either hard sales not customer oriented, or completely useless.
No cooling off period provided.
No ability to cancel loans unless they are signed for outside of branch premises.
No real attempt made to properly assess customers situation, only making the sale matters.

General Comments
I have been with Lloyds for 20 years now, and when I was asked to attend an annual account review with the bank, I thought nothing of it. During the review which lasted over 90 mins despite my only having an hour for lunch and was promoted as looking at my finances to ensure I that I was not paying too much in interest or fees, I was assailed by figures, sales pitches, given assurances that they were trying to save me money, I was double teamed by another member of staff to increase the impression that what they were trying to sell was really in my benefit, and was even asked three times, "What do I have to say to get you to take out this loan?". At no point was I asked if I actually had the funds already to pay off my credit cards.



Despite repeatedly :-

- stating that I did not understand the figures being thrown at me

- asking for figures to take home (which they would not provide)

- telling them I could not make a decision there and then

- telling the staff member that I was becoming more and more confused

- saying that I did not want to take out a loan or extend my debts at all



I have never experience a hard sell before, and I walked out of the meeting completely confused and stressed out, somehow having signed an agreement to take out a loan that I did not want to pay off my credit cards. I realise how stupid I was to sign, and regretted it as soon as I left the building. I tried to cancel in under an hour, but was told it had all gone through and could not be cancelled.



I became exceedingly agitated over the next few hours and couldn't sleep that night due to panicking about how much it would cost to pay off this loan I never wanted in the first place. I spoke to the Citizens Advice Bureau who nearly went spare as they were cut off and passed from one staff member to another on the phone before finally being told I would have to go back into the branch to speak to the same staff member who had done the sale in the first place (the last person I wanted to deal with again).



At the meeting, rather than trying to understand the situation and help out, he kept saying how disappointed he was in me. Repeated that he could not cancel the loan, said it was in my own interest (even though I could have paid off my debts without taking out a loan at all), and again had another member of staff to back him up.



Since this time I have paid off the loan from my savings, having to accept a penalty fee, been sent an upgraded credit card I never requested, had a security stop placed on my debit card until I go back into the branch again to once more validate my ID, despite currently being massively in credit. This meant that I had no access to any form of cash, and could not use my credit cards, which I actually just want to cancel, until I could get in to my home branch. The cashier even tried to get me to fill out a mortgage application form whilst I waited for cash to be authorised.



I am now trying to get everything transferred over to another bank, one who will not look for a quick sale over 20 years of continued loyal custom, one who will not do a hard sell against a customer's wishes and against the customer's interests in order to make their own sales targets, a bank who will actually try to help rectify a situation rather than simply blaming the already stressed and confused customer.



The service I have recently received has shattered 20 years of peacefully banking with LloydsTSB, but this has been such a terrible experience that I will never bank with them again, and will never consider recommending them to anyone for any of their services.



Anyone know of any bank it is worth joining? Suggestions welcome.

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Yellowtimechris's Response to illumin8ed's Review

Written on: 12/10/2007

Halifax have always been good for me.

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Kierenlmoss's Response to illumin8ed's Review

Written on: 11/11/2007

Try a building society - they work differently to Banks and are not out to make money for customers but rather offer products to benefit their members - who vote in their directors.

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Rrubbishmobile's Response to illumin8ed's Review

Written on: 15/10/2007

Had The Mobile Outlet treated me right, I would have taken out another contract with them, but instead I went with Dial A Phone, and I must say that they paid my first cashback claim within one week of submitting all the required info. So The Mobile Outlet have lost out. I would never buy from The Mobile Outlet again-and had I read the review here, I would not have bought from them the first time either.

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Chrisyuk's Response to illumin8ed's Review

Written on: 13/10/2007

my advice, have as little to do with any bank as possible, if you read through the reviews they all come off quite bad, I too had a hard sell from the halifax, when offered a loan i didn't need i requested more....., a lot more, one million trillion billion dollars ( in dr evil style from the austin powers movies - haven't seen it ? - worth a watch ) and then refuse to take any less. They melt, as the training doesn't prepare them for anything like this.........

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