Lloyds Banking Group is bracing itself for potential customer backlash as it discontinues over three million savings passbooks. While many other banks have already phased out passbooks, they still remain popular among savers who prefer in-branch banking, especially the elderly who appreciate the tangible proof of their account balances. Lloyds plans to withdraw most passbooks between October and the end of the year, with the process already causing some consternation. The removal of passbooks affects all of Lloyds’ high street savings brands – Lloyds, Halifax, and Bank of Scotland.
Lloyds’ decision to remove passbooks has had direct repercussions for individuals such as Anthony Oddy, who has Asperger’s Syndrome. Anthony relies on using cash and prefers the passbook to track his account balances. He was left unable to withdraw cash from his Halifax branch after his passbook was deactivated without prior notification. Halifax claimed that Anthony could still withdraw cash without it, but Anthony disputes this. Despite his concerns, he has been issued a card he can use for withdrawals, although the future of his local branch remains uncertain.
The decline in branch banking and the rise of automated services has troubled individuals like John Oddy, who feel that the personal touch and human kindness is disappearing from banking. John’s complaint to Halifax about the deactivation of his son’s passbook was rejected, but he did receive £20 in compensation for his time and travel expenses. He laments the closure of branches, forcing customers to bank online or travel long distances to access services.
In the town of Llandudno, North Wales, residents remain dissatisfied with the council’s decision nine years ago to place rocks on the main beach to protect it from erosion. Although some petitioners want the rocks removed for a sandy beach restoration, the town has an abundance of banks and building societies, which contrast with closures in other areas. Llandudno resident Peter Rowlands praised the town’s thriving banking industry, unlike his own town of Bromborough, where there is now only one bank branch remaining.
The Daily Mail has relaunched its campaign to end needless prostate deaths, encouraging men to get checked for early detection. The paper recommends donating to charity Prostate Cancer UK for those who receive an all-clear diagnosis.
Barclaycard has left some customers confused with its latest communication about changes to its terms and conditions. The document employs various colors and cross-outs that make it difficult to understand. One reader commented that if the document is a result of artificial intelligence, it is concerning and headache-inducing.
Government-backed savings provider NS&I has launched market-leading one-year fixed-rate bonds, sending a message to other savings providers to offer better products. The launch was accompanied by a statement from the Economic Secretary to the Treasury, highlighting the importance of savers benefiting from recent interest rate rises. NS&I’s bold move has raised expectations for other providers to offer competitive rates. However, there are concerns about NS&I’s customer service, and customers are encouraged to report any issues they encounter.
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