Lloyds Banking Group is reportedly considering plans to phase out the Halifax brand, potentially ending its 173-year presence on the high street. According to reports in The Sun, bosses are expected to announce the decision this summer, though no final decisions have been made.
The Halifax brand, which granted its first mortgage in 1853, could see a transition beginning on July 1, when new Halifax accounts would no longer be available online or through the app. By October, Halifax would stop taking on new customers entirely, with existing account holders gradually moved to Lloyds Bank.
A Lloyds spokeswoman said: 'We regularly look at the role our brands play in supporting our customers. Our banking customers can already use any Lloyds, Halifax or Bank of Scotland branch, and see any of their products and services in any of their apps – there are no changes for our customers today.'
If the brand is phased out, customers' account numbers and Financial Services Compensation Scheme protection would remain unchanged. Lloyds declined to comment on potential timings.
The move follows changes last year that allowed the three brands—Lloyds, Halifax, and Bank of Scotland—to share branches and mobile banking services. However, the group has also closed hundreds of branches, with 95 more closures planned by March next year, leaving 610 branches in total.
