Millions of Lloyds Banking Group could be facing a huge change to the services they currently receive. It’s reported an estimated 10 million customers could see a change to their banking services according to leaked documents.
Customers who are deemed ‘less profitable’ by the bank would be given a lesser service, meaning longer waiting times and getting same-day branch appointments less likely.
But, customers who could make more money for the bank, such as those who use an overdraft or have a loan or credit card, would be given a higher level of service. This preferential treatment could see phone call wait times reduced from 15 minutes to just 15 seconds.
According to reports, the move would impact not just Lloyds customers, but those who have accounts with sister brands Halifax and Bank of Scotland. No changes have been made so far.
The customers who are unlikely to make the bank money account for around 30 percent, or 10 million. People in this category include pensioners with assets and savings, but do not go overdrawn or buy products to boost profits.
A Lloyds spokesperson told the Mail on Sunday the group was "looking to deepen relationships with existing customers and develop a mass affluent offering". They added: "This means we will continually look at ways to tailor what we offer to meet the changing needs of all of our customers."