- Lloyds Banking Group is reportedly considering phasing out its 173-year-old Halifax brand, with an announcement from bosses anticipated this summer.
- The Sun suggests that if the plan proceeds, a transition could commence on 1 July, preventing new online Halifax accounts, and existing customers would be gradually moved to Lloyds Bank by October.
- Should Halifax be discontinued, customer account numbers would remain unaffected, and their automatic protection under the Financial Services Compensation Scheme (FSCS) would continue.
- A Lloyds spokesperson confirmed that the group regularly assesses its brands' roles and noted that customers can already access services across Lloyds, Halifax, and Bank of Scotland branches, with no immediate changes for customers.
- This potential move occurs amidst Lloyds' ongoing strategy of high street branch closures, with a further 95 branches across its brands set to shut by March 2027, reducing the total to 610.
IN FULL
Halifax could vanish from high streets after 173 years as Lloyds considers major shake-up
