The Halifax brand is changing to Lloyds - What This Means for Customers

Lloyds Banking Group, which has owned Halifax since 2009, has announced that Lloyds will become its lead banking brand in England, Wales and Northern Ireland, while Bank of Scotland will remain the brand used in Scotland. As part of this change, Halifax will stop opening new accounts under the Halifax name, and existing Halifax products and branches will gradually move across to the Lloyds brand.

Do Halifax Customers Need to Do Anything?

The good news is no immediate action is required.

According to Lloyds Banking Group, customers can continue to use their accounts as normal. There will be:

• No changes to account numbers or sort codes

• No interruption to Direct Debits or standing orders

• No changes to existing mortgage repayments

• No immediate changes to savings accounts, current accounts or credit cards

• Continued access to banking services and branches during the transition

Customers will be contacted directly as changes are introduced.

What About Halifax Mortgages?

For mortgage customers, there is currently very little practical impact. Existing Halifax mortgage arrangements remain in place, and repayments will continue exactly as they do today.

Lloyds Banking Group has also confirmed that Halifax mortgages will continue to be available through mortgage intermediaries for a period before the intermediary proposition eventually moves under the Lloyds brand.

Will the Halifax App Change?

Over time, Halifax customers will be migrated to the Lloyds app. Lloyds has stated that many customers are already able to manage accounts across the Group's brands, and customers will receive clear communication before any changes are made.

Be Alert to Scammers

Whenever a major banking change is announced, fraudsters often attempt to take advantage of the publicity.

Lloyds Banking Group has advised that customers should be cautious of unexpected calls or texts claiming to be about the transition. Customers should never provide security information, PINs or passwords in response to unsolicited contact.

If you receive any communication that seems suspicious, contact your bank directly using official contact details.

This article isn’t personal advice. If you’re not sure whether a course of action is right for you, ask for financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage.