Q&A: Co-op buys Lloyds TSB branches

Hundreds of branches and millions of customers will see the name of the bank changed to TSB

In one of the biggest upheavals for many years in High Street banking, the Co-op has agreed to buy 632 branches from the Lloyds banking group, including all of its Cheltenham & Gloucester branches.

It will be a huge expansion for the Co-op, boosting its presence to nearly 1,000 branches, about 10% of the UK's entire banking branch network.

It will be gaining 4.8 million customers, including 3.1 million with current accounts and 100,000 business accounts.

Both sides aim to complete the deal by the end of 2013.

<paragraph>How will I know if I am being affected?</paragraph>

<paragraph>So, what will change for me as a Lloyds TSB customer?</paragraph>

<paragraph>Will my branch sort code or account number be changed?</paragraph>

<paragraph>Come again? You mean this "deal" is not finally agreed?</paragraph>

<paragraph>Will anything else change?</paragraph>

<paragraph>What about mortgage borrowers?</paragraph>

<paragraph>What will happen after the deal goes through?</paragraph>

<paragraph>Will any of my Lloyds policies, such as overdraft rates or mortgage rates, change?</paragraph>