Lloyds TSB is committed to promoting financial inclusion across the UK. For example, we have worked with the government and the banking industry to provide basic bank accounts.
The Banking Code Standards Board has reviewed the delivery of basic bank accounts by all 17 providers, including our Cash account. The results, on a range of service issues, were as follows:
Lloyds TSB % | |
|---|---|
Member of staff immediately recognised a basic bank account as potentially appropriate | 64 |
Adviser mentioned basic bank account after discussion but without mystery shopper using these words to request one | 76 |
Adviser mentioned BBA AND did NOT attempt to persuade the applicant to open different type of account | 62 |
Customer told it would take no more than 10 working days to open account | 81 |
Information provided on what basic bank account would provide | 75 |
Information on how to prove identity given to mystery shoppers | 92 |
Our accredited account openers use our ‘Your Finances’ sales process to ensure that when a customer buys a product from us, they receive the right information and select the right product. We are confident that in those instances where an adviser ‘attempted to persuade the applicant to open a different type of account’, it would be one identified as suitable for the customer’s needs.
We continue to review the features of our Cash account and the way it works for customers – for example, in September we will be introducing a new Cash account debit card. We are intent on making it easier for people to open bank accounts and build a long term relationship with us.
Read more about our Cash Account or pick up a brochure in one of our Branches.
