Warning to 10 million Lloyds and Halifax customers over change to services

09 January 2023 , 13:18

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Lloyds Banking Group is said to be looking at introducing a customer tier system (Image: SOPA Images/LightRocket via Getty Images)

Millions of Lloyds Banking Group customers will reportedly receive an inferior service compared with those considered more profitable under new plans.

The move would see customers split into a tier system based on how much profit they generate, according to documents seen by the Mail on Sunday.

Customers who are deemed to be of the greatest financial value – so those who have purchased the most products and services through the banking group - would get a higher level of customer service from the bank.

This would make up around 25% of the overall Lloyds Banking Group customer base, who could see their call waiting times reduced from 15 minutes to 15 seconds.

The bank is also reportedly considering giving them “pricing, offers and rewards” although no further information has been revealed about what this could mean.

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The changes would benefit the most profitable customers (SOPA Images/LightRocket via Getty Images)

But around ten million customers who are seen as less profitable face the longest wait times on the phone and will be less likely to get a same-day appointment.

Lower-tier customers would also reportedly be put through to a less experienced call handler and they’ll be encouraged to use “self-serve” solutions like using a banking app.

The “low value” group would make up around 30% of customers.

The Mail on Sunday claims it isn’t necessarily struggling households that could be placed in their category. It could be those who don’t go overdrawn or buy products such as loans or insurance policies.

The changes would apply to Lloyds Bank, Halifax and Bank of Scotland customers.

A source at the bank told the newspaper it would launch a service aimed at customers with income or assets of more than £75,000, excluding property.

But they claimed customer service would not be reduced in terms of quality in other customer groups - and said they'll receive the same support they do today.

A spokesperson from Lloyds Banking Group said: “As we said at our strategic update in February, we are looking to deepen relationships with existing customers and to develop a mass affluent offering, where we are currently under-represented.

“ This means we will continually look at ways to tailor what we offer to meet the changing needs of all of our customers.”

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