MILLIONS of Lloyds Banking Group customers are facing a big change to services.
An estimated 10million customers could see a change to banking services, according to documents seen by the Mail on Sunday.
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Customers who are seen as less profitable would be given a lesser service, such as longer waiting times and unlikely to be offered same-day branch appointments.
While those who could make the bank more money, based on the products and services they buy, could receive a higher level of service.
This could include having average call waiting times reduced from 15 minutes to just 15 seconds.
The move would impact customers at Lloyds, and Halifax and Bank of Scotland, which are owned by the Lloyds Banking Group, according to reports.
No changes have yet been made and it is understood the plans are theoretical at this stage.
The customers in the “low-value” group account for 30% of customers – or 10million.
They would include pensioners and those with assets and savings, but who do not go overdrawn or buy other products which boost Lloyds’ profits.
James Daley, founder of campaign group Fairer Finance, branded the plans to offer different service levels to customers of the same products based on their wealth “deeply cynical”.
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He added: “You can’t have a secret algorithm that discriminates against 10 million customers across an entire product range.”
A Lloyds spokesperson said 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.”
But it is understood Lloyds does not plan to reduce service quality or take anything away from other customer groups.
Banking services will continue for all customers, including over the phone, video call services and mobile and online banking.
Marco Longhi, Tory MP for Dudley North, said it was “sad” to see Lloyds treating customers with “such apparent callousness”.
He added: “My message to Lloyds is to look after all your customers.”
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