Lloyds Bank has confirmed it is removing a key feature from its online banking service, leaving many customers dissatisfied. The bank, which has branches in Birmingham, addressed concerns on X (formerly Twitter) after customers voiced their fears about the change.
Customer Concerns
One customer expressed frustration, stating: "It appears Lloyds Bank is driving customers away from online banking. In coming weeks, the ability to rename accounts online will disappear and accounts will go back to their original names." They added: "They say we will still be able to view or edit account nicknames in the app. No explanation."
Lloyds responded: "To keep you informed, the option to rename accounts in Online Banking is being removed. This means any accounts previously renamed online will return to their original names. You won't be able to rename them online going forward."
The customer replied: "This is unhelpful," and elaborated: "People running a business use online banking, not the app. They have more than one account. They want to quickly see the account to use by looking at its unique name, not figure out account numbers. Why is this change happening?"
Bank's Explanation
Lloyds explained: "The change is to simplify how accounts are displayed and improve consistency across Online Banking and the app."
Features of Lloyds Online Banking
With Lloyds' online banking, customers can manage all their business accounts together, including savings, loans, and cards. They can also make instant transfers and payments, even internationally, and allow staff to access accounts and manage payment permissions. Users can manage up to 2,000 business accounts in one place and receive tailored service. The bank, which also runs Halifax and Bank of Scotland, states on its website: "Take control of your business finances anytime and on the go with online banking services."
