Lloyds Bank

[ivor4781]

if lloyds are cutting 9000 jobs in all and still operating normally why did they needs this 9000 start with,or am i missing something ?

[237SJ]

Probably because they manned the branches and now customers do more banking online so they don`t need them. I`m with Lloyds and I hardly ever go in the branch because I have online banking. I expect my small branch will be one of the ones that will close.

[just2retro]

Its strange because whenever I go to my local Lloyds bank there is always a big queue. You can't put checks into your account online .

[Baldric]

What about Cheques?

[dannyk13]

Most banks provide receptacles for cheques so that depoitors don't have to queue.

[fiction-factory]

9000 will be a target reduction in the number of posts. It may mean they plan to close branches or streamline processes, or outsource some operations - maybe offshore. But sometimes it is simply the total number of jobs they need to cut in order to reduce the wage bill to an acceptable level for the business to be viable. They may have some ideas on how to reduce the need for staff but sometimes they may not- they will just expect managers of branches or backroom staff to find a way to manage with fewer staff.

[just2retro]

danny you still have to go to the Bank though -if its not there how will people make cash or check deposits?

[andy-hughes]

The job losses are a combination of advanced technology, which always reduces back-office staff, and the steady decline in branch use.

I am a little old-fashioned, I bank in my branch, which is in the town where I work, and I go in if I have any queries. That said, when I retire, I may resort reluctantly to on-line banking because I have an inherent distrust of it.

But that is a generation thing - I don't know if my kids have ever written a cheque, and they all bank on line - it is the changes in culture that dictate these trends.

[Old_Geezer]

Who said they are operating normally, or have been for ages ?
They still tend to have only one on the desk when you go in during your lunchtime (or any other time for that matter). And in plenty of places vital branches have closed forcing folk to travel miles to reach another.

[ivor4781]

never been with bank in 40 decades OG, i'm in nationwide and everything is done on line

[ivor4781]

4 not 40 lol

[DTCwordfan]

in-bank transactions are down 15% this year - says it all, the need for change to the market.

[Old_Geezer]

You don't get your bills stamped for your records like that.

[ivor4781]

OG i think were in different age groups ya dont need "bills" stamping its all done by direct debit your records are on line, and if ya like you can print your records out, i'm 72 bye the way

[Old_Geezer]

Anyone can fake a printout, few have official bank stamps. DD is the work of the devil, letting others (commercial companies no less !) free access to one's savings. And one shouldn't trust, here today gone tomorrow, data in the aether. Folk are far far far too trusting these days.

[just2retro]

no one has addressed the question of how do you put cash/cheques on your account without a Bank? We still get cash and cheques and now have to drive 10 miles to nearest Lloyds Bank and that may be shutting down which will make it 22 miles. Some people will still not pay by direct credit or don't know how to so we will still need banks for a while yet.

[chiaroscuro]

This might help

https://www.lloydsbank.com/banking-with-us/ways-to-bank-with-us/banking-at-the-post-office.asp

[Old_Geezer]

Alternatively see if you can find a bank who think they are there to provide required services rather than to consider customers a nuisance if they don't do as the bank want. Bit of an issue if you live in a village, but ought to be less problematic for city dwellers.

[New Judge]

“That said, when I retire, I may resort reluctantly to on-line banking because I have an inherent distrust of it.”

Do yourself a big favour, Andy, and go for it now. You’ll never look back I promise you. I went to online banking about eight or nine years ago. Mrs NJ and I run four current accounts, shuffling money between them to make the most of the meagre interest on offer. Never have to worry about bills (all done by DD), pay credit card bills online, haven’t visited a bank in over two years (last time was when the taxman erroneously sent me a cheque instead of paying me by bank transfer).

“Anyone can fake a printout, few have official bank stamps. DD is the work of the devil, letting others (commercial companies no less !) free access to one's savings. And one shouldn't trust, here today gone tomorrow, data in the aether. Folk are far far far too trusting these days.”

You are too pessimistic, OG. I’ve never had a single problem with internet banking (which is more than can be said about the service I used to get in branch). You can carry out your transactions whenever you want from the comfort of your armchair. I do not agree that it is a generational thing as I fit firmly into the “old fart” age group.

Lloyds major problems began when they were all but forced by the government to take over the HBOS group in 2008. They still have not recovered; shareholders have lost about 90% of their equity in that time and seem unlikely to recover much of it any time soon.

[DTCwordfan]

Bank terminals elsewhere accept deposits - go to HK and thirty years ago, one could play the currency markets in 7 selected currencies from one's ATM.

Wake up, Britain - though I'll accept that I am reserved about banking online, other than Paypal where I receive income - and immediately switch it out to one of my main conventional bank accounts.

[DTCwordfan]

sorry exaggerating, twenty years ago.....