{{short description|British retail bank}} {{About|the current TSB Bank|the former|Trustee Savings Bank|other uses|TSB (disambiguation){{!}}TSB}} {{Use dmy dates|date=January 2019}} {{Use British English|date=February 2015}} {{Infobox company | name = TSB Bank plc | former_name = | logo = TSB_logo.svg | type = Subsidiary | traded_as = | predecessor = Lloyds TSB<br />Cheltenham & Gloucester | foundation = {{plainlist| * {{start date and age|1810}} as the Trustee Savings Bank * {{start date and age|2013}} re-established as TSB Bank }} | founder = | location = {{nowrap|Edinburgh, Scotland, UK}} | num_locations = 175 branches | num_locations_year = 2025 | area_served = United Kingdom | key_people = {{Unbulleted list |David Oldfield (chair) |Nicola Bannister (chief executive) }} | industry = Banking<br />Financial services | products = Retail banking<br />Commercial banking<br />General insurance<br />Life insurance | services = | revenue = £1.1 billion | revenue_year = 2022 | operating_income = | income_year = | net_income = £181 million | net_income_year = 2022 | num_employees = 5,592 | num_employees_year = 2022 | owner = TSB Banking Group plc | parent = Santander UK | divisions = | subsid = | homepage = {{URL|https://www.tsb.co.uk}} | footnotes = <ref name=AnnualReport>{{cite report|url=https://www.tsb.co.uk/investors/results-reports/|title=TSB Banking Group plc: Annual Report and Accounts|website=TSB}}</ref> <ref>{{Cite web|url=https://www.tsb.co.uk/news-releases/TSB-welcomes-new-Board-members-as-the-Bank-joins-Santander.html|title=TSB welcomes new Board members as the Bank joins Santander|website=www.tsb.co.uk}}</ref> }}
'''TSB Bank plc''' is a British retail and commercial bank based in Edinburgh, Scotland. It is a subsidiary of Santander UK.
{{As of|2025}}, TSB Bank operates a network of 175 branches.<ref>{{Cite news |last=Makortoff |first=Kalyeena |last2= |first2= |date=2025-07-01 |title=Santander to buy TSB for £2.65bn amid fears of branch closures and job losses |url=https://www.theguardian.com/business/2025/jul/01/santander-to-buy-tsb-for-265bn-amid-fears-of-job-losses |access-date=2025-11-14 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref> TSB was launched on 9 September 2013. Its headquarters are located in Edinburgh, Scotland, and it has more than five million customers<ref>{{Cite web|date=19 January 2022|title=2020 Full Year Results|url=https://www.tsb.co.uk/tsb-banking-group-ara-2020.pdf|website=TSB Bank}}</ref> with over £37 billion of lending and £36 billion of customer deposits. The bank was formed from the existing business of Lloyds TSB Scotland plc, into which a number of Lloyds TSB branches in England and Wales and all branches of Cheltenham & Gloucester were transferred,<ref name=Simon>{{cite news |title=Millions of Lloyds customers told banking details to change |author=Emma Simon |url=https://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9703432/Millions-of-Lloyds-customers-told-banking-details-to-change.html |archive-url=https://web.archive.org/web/20150807053120/http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9703432/Millions-of-Lloyds-customers-told-banking-details-to-change.html |url-status=dead |archive-date=7 August 2015 |newspaper=The Daily Telegraph|date=26 November 2012 |access-date=16 March 2013}}</ref> and renamed TSB Bank plc.
A European Commission ruling that the British government's 2009 purchase of a 43% stake in Lloyds Banking Group counted as state aid made it necessary for Lloyds Banking Group to sell a portion of its business; TSB was divested. Post-divestment, TSB offered an initial public offering and was listed on the London Stock Exchange in June 2014.<ref name="IPO">{{cite news|url=https://www.theguardian.com/business/2014/jun/20/lloyds-tsb-branches-valuation-share-sale |title=TSB shares jump on trading debut and lift prospects for future Lloyds sell-off |newspaper=The Guardian|date=20 June 2014 |access-date=20 June 2014}}</ref> In 2015, it was acquired by Sabadell Group.<ref name="bancsabadell.com">{{cite web|url=http://prensa.bancsabadell.com/en/News/2015/07/banco-sabadell-acquires-100-of-tsb-shares|title=Banco Sabadell acquires 100% of TSB shares – Banco Sabadell|work=bancsabadell.com|access-date=17 July 2015}}</ref> On 30 April 2026, Santander UK acquired TSB from Sabadell for £2.65 billion.
==History== ===Trustee Savings Bank=== {{main|Trustee Savings Bank}}
The TSB name was previously used by Trustee Savings Bank prior to its merger with Lloyds Bank in 1995,<ref>{{cite report|last1=Batiz-Lazo|first1=Bernardo|title=A case study on the strategy and stock market performance of Lloyds Bank (1980-1993)|url=https://ideas.repec.org/p/wpa/wuwpeh/0301004.html|publisher=Open University Business School|access-date=4 October 2016|date=19 January 2003}}</ref> resulting in the formation of Lloyds TSB in 1999.
The merger was structured as a reverse takeover by TSB. Lloyds Bank was delisted from the London Stock Exchange and TSB Group was renamed Lloyds TSB Group in 1995, with former Lloyds Bank shareholders owning a 70% equity interest in the share capital, effected through a scheme of arrangement. The new bank commenced trading in 1999, after the statutory process of integration was completed.<ref>[https://www.legislation.hmso.gov.uk/acts/localact1998/ukla_19980005_en_1 Lloyds TSB Act 1998] {{Webarchive|url=https://web.archive.org/web/20081202124746/http://www.legislation.hmso.gov.uk/acts/localact1998/ukla_19980005_en_1 |date=2 December 2008 }} (cap. 5).</ref> The original TSB Bank transferred engagements to Lloyds Bank which then changed its name to Lloyds TSB Bank; at the same time, TSB Bank Scotland absorbed Lloyds' three Scottish branches becoming Lloyds TSB Scotland.
In 1986, the legal entity, Trustee Savings Bank, was renamed TSB Scotland (and, in 1989, TSB Bank Scotland), before becoming Lloyds TSB Scotland in 1999.<ref>Also in 1986, the legal entity, Central Trustee Savings Bank, was renamed TSB England and Wales, becoming TSB Bank in 1989. This company, which has been dormant since 1999, was re-registered under the name Lloyds (Gresham) Ltd. in 2013.</ref> This company was re-registered under the name TSB Bank in 2013.<ref>Registered in Scotland No. SC095237.</ref> The parent, TSB Banking Group, was registered in England in 2014 and later that year TSB Bank ceased to be part of the Lloyds Banking Group.<ref>Registered in England No. 08871766.</ref>
===Project Verde=== [[File:TSB Newcastle.jpg|thumb|TSB Newcastle city centre, a former Lloyds TSB branch]] In January 2009 Lloyds TSB Group bought HBOS, the company formed from the merger of Halifax plc and the Bank of Scotland, and renamed itself Lloyds Banking Group.<ref>{{cite news |title=Lloyds HBOS merger gets go-ahead |url=https://news.bbc.co.uk/1/hi/business/7823521.stm |newspaper=BBC News |date=12 January 2009 |access-date=16 March 2013}}</ref> In 2009, following the UK bank rescue package, the Government of the United Kingdom took a 43.4% stake in Lloyds Banking Group, which later announced that it would sell a standalone retail banking business and most accounts held at selected branches in order to comply with European Commission state aid requirements. Codenamed "Verde", the group's divestment plan identified 632 branches - a number of Lloyds TSB branches in England and Wales, together with all branches of Lloyds TSB Scotland and Cheltenham & Gloucester, were brought together to form the new business, which operates under the TSB brand.<ref name=Simon/>
Customers with accounts held by the branches and staff employed within them were also transferred.<ref>[http://webcasts.lloydsbankinggroup.com/capitalraising/files/FINAL_-_Analyst_Presentation.pdf Rights Issue and Capital Enhancement Proposals] Presentations and Webcasts, Lloyds Banking Group, 3 November 2009</ref>
Not all of the branches transferred to TSB had belonged to that brand previously; some Lloyds branches (including those sort codes) were assigned to TSB as part of the process.<ref>{{cite web|url=http://www.lloydstsbtransfer.com:80/documents/transferring_branches.pdf |archive-url=https://web.archive.org/web/20130626043701if_/http://www.lloydstsbtransfer.com:80/documents/transferring_branches.pdf |url-status=dead |archive-date=26 June 2013 |title= Full list of branches forming the Verde Business |publisher=Lloyds TSB |date=26 June 2013 |access-date=26 June 2013}}</ref> The remainder of the Lloyds TSB business was rebranded back to the Lloyds Bank name.<ref>{{cite web |url=http://www.marketingmagazine.co.uk/news/1028017/ |title=Lloyds TSB to rebrand as Lloyds Bank |author=Mark Banham |date=13 September 2010 |publisher=Marketing |access-date=16 March 2013}}</ref>
===Agreement with Co-operative Banking Group=== Lloyds Banking Group reached a heads-of-terms agreement in July 2012 to sell the Verde branches to the Co-operative Bank for £750 million.<ref>{{cite news |title='Proud to make banking boring again': Co-op buys 632 branches from Lloyds and aims to restore faith in the industry |url=https://www.mirror.co.uk/money/city-news/co-operative-bank-buys-632-lloyds-1150437 |author=Graham Hiscott |newspaper=Daily Mirror|date=19 July 2012 |access-date=16 March 2013}}</ref><ref>{{cite news |title=Lloyds bigs up the Co-op |author=Robert Peston |url=https://www.bbc.co.uk/news/business-18899185 |newspaper=BBC News |date=19 July 2012 |access-date=16 March 2013}}</ref> The final transfer of TSB Bank to the new owner was planned to be completed by late 2013. In February 2013, it was reported that Lloyds Banking Group was considering a stock market flotation of the TSB business as an alternative, should the transfer not be completed, and they would make a final decision by the end of July. The Co-operative Banking Group blamed current economic conditions for delays in completing the deal and had sold its life insurance assets for £200 million in an effort to secure £1 billion needed to complete the deal.<ref name="heraldscotland">{{cite news|last=Sharp |first=Tim |url=http://www.heraldscotland.com/business/company-news/economic-woes-hit-co-op-verde-buyout.20580335 |title=Economic woes hit Co-op Verde buyout |newspaper=The Herald|date=22 March 2013 |access-date=24 April 2013}}</ref><ref>{{cite web|url=http://www.thenews.coop/article/end-era-co-operative-group-set-sell-general-insurance |title=End of an era: Co-operative Group set to sell-off General Insurance |publisher=Co-operative News |date=21 March 2013 |access-date=24 April 2013}}</ref>
In April 2013, The Co-operative Group announced that it would not proceed with the transaction, citing the economic environment and increasing regulatory requirements in the financial sector.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-22276082 |title=Lloyds' branch sale to Co-op falls through |work=BBC News |date=24 April 2013 |access-date=24 April 2013}}</ref>
===Initial public offering=== TSB Bank plc began operating as a separate business within Lloyds Banking Group on 9 September 2013,<ref>{{cite news|url=https://www.bbc.co.uk/news/business-24013970 |title=Lloyds faces internet issues on TSB launch day |work=BBC News |date=9 September 2013 |access-date=14 September 2013}}</ref> with the intention of selling it off through an initial public offering.<ref>{{cite web|url=http://www.lloydstsbtransfer.com/update-on-24th-april-2013/ |title=Update on 24th April 2013 |publisher=Lloyds TSB |date=24 April 2013 |access-date=24 April 2013}}</ref> Lloyds Banking Group announced that 25% of TSB's shares would be floated on 24 June 2014,<ref>{{cite web|url=http://www.ig.com/uk/shares-news/2014/06/10/tsb-ipo-price-range-announced-16989|title=TSB IPO price range announced|date=10 June 2014|access-date=8 September 2014}}</ref> but, with the offer being ten-times oversubscribed, 38.5% of shares in TSB Banking Group, were sold at 260p on 20 June.<ref>{{cite news|url=https://www.theguardian.com/business/2014/jun/20/lloyds-tsb-branches-valuation-share-sale |title=TSB shares jump on trading debut and lift prospects for future Lloyds sell-off |newspaper=The Guardian |date=20 June 2014 |access-date=25 June 2014}}</ref> Unconditional trading in the shares started on 25 June 2014. A further 11.5% of TSB Banking Group shares were sold by Lloyds Banking Group in September 2014, bringing its share holding down to 50%.<ref name="Reuters">{{Cite news |date=26 September 2014 |title=Lloyds Bank sale of TSB stake shows demand for UK banks |url=https://www.reuters.com/article/markets/lloyds-bank-sale-of-tsb-stake-shows-demand-for-uk-banks-idUSL6N0RQ4P2/ |access-date=5 October 2014 |work=Reuters}}</ref>
According to Lloyds' chief executive, António Horta-Osório, the separation cost £1 billion more to perform than the new bank is worth.<ref>{{Cite news |last=Treanor |first=Jill |date=2015-03-28 |title=Lloyds boss defends his record as four years of ‘doing the right thing’ |url=https://www.theguardian.com/business/2015/mar/28/lloyds-boss-antonio-horta-osorio-defends-record |access-date=2024-10-27 |work=The Observer |language=en-GB |issn=0029-7712}}</ref>
===Acquisition by Sabadell Group=== On 12 March 2015, TSB confirmed a takeover bid by Sabadell for £1.7 billion, less than a year after it rejoined the stock market through Lloyds Banking Group's sale of 50% of its holding.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-31848517|title=TSB confirms £1.7bn takeover move by Spain's Sabadell|date=12 March 2015}}</ref> TSB agreed to the takeover on 20 March 2015 <ref>{{cite news|title=TSB agrees £1.7bn takeover by Spain's Sabadell|url=https://www.bbc.co.uk/news/business-31980833|access-date=20 March 2015|work=BBC News|date=20 March 2015}}</ref> which was completed on 8 July 2015.<ref name="bancsabadell.com"/> After the acquisition, a new board of directors was formed, including Tomás Varela and Miguel Montes Güell.<ref>{{Cite news|url=https://www.ft.com/content/0017d25e-1f3e-11e5-aa5a-398b2169cf79|title=Sabadell's TSB takeover gets UK go-ahead|newspaper=Financial Times|date=30 June 2015 |access-date=20 December 2018}}</ref>
In October 2015, Sabadell Group outlined its plans for TSB to continue as a competitor in the UK banking sector, by further expanding into the small business banking market, and introducing cardless emergency cash and mobile payments.<ref>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11484514/TSB-sold-to-Spanish-bank-in-1.7bn-deal.html |title=TSB sold to Spanish bank in £1.7bn deal|date=20 March 2015|work=The Telegraph|last1=Titcomb|first1=James}}</ref> Sabadell also confirmed that the TSB name would be retained, as the group felt it was a "very powerful" brand with "traction" in the UK, unlike the parent brand, which is "virtually unknown".<ref>{{cite news|url=https://www.ft.com/content/d72b662a-668d-11e5-a57f-21b88f7d973f|title=Sabadell looks to TSB in UK growth strategy|newspaper=Financial Times|author=Emma Dunkley|date=4 October 2015|access-date=17 January 2016}}</ref> TSB's banking platform, which had used that of Lloyds Banking Group, was migrated to a UK-based replica of Sabadell's Proteo platform by the end of 2017.<ref>{{cite news|last1=Andreasyan|first1=Tanya|title=TSB unveils new banking tech platform, Proteo4UK|url=http://www.bankingtech.com/2017/12/tsb-unveils-new-banking-tech-platform-proteo4uk/|access-date=17 February 2018|work=Fintech Futures|date=1 December 2017}}</ref>
====Migration to the Sabadell Proteo banking platform==== A planned migration of customer records from the Lloyds Banking Group platform to the Sabadell Proteo platform commencing on 20 April 2018 resulted in the loss of internet and mobile banking services for many customers for at least a week. Additionally, some customers reported seeing detailed account information of other customers, including balances of accounts other than their own.<ref>{{cite web|url=https://www.finextra.com/newsarticle/31991/tsb-customers-rage-as-migration-to-sabadell-platform-goes-awry/retail |title=TSB customers rage as migration to Sabadell platform goes awry |publisher=Finextra |date= 23 April 2018|access-date=23 May 2018}}</ref>
On 26 April 2018, Paul Pester, then chief executive, stated that TSB was "on its knees" with the bank's computers continuing to have "a capacity issue" that was preventing about one million customers having access to online banking services.<ref>{{cite news|author=Jack Torrance Julia Bradshaw |url=https://www.telegraph.co.uk/business/2018/04/27/tsb-customers-fear-payday-crunch-online-banking-outage-heads |title=TSB customers fear payments crunch as online banking outage heads towards payday |publisher=Telegraph.co.uk |date=27 April 2018 |access-date=23 May 2018|newspaper=The Telegraph }}</ref>
Two weeks after commencement of the migration, failures were still being reported with services such as the online banking application giving internal SQL database-related errors. Payment difficulties, particularly with business and mortgage accounts continued into a fourth week<ref name=bbc1>{{cite news|url=https://www.bbc.co.uk/news/business-44121901 |title=TSB accused of 'dreadful response' to meltdown |publisher= BBC News |date= 15 May 2018|access-date=23 May 2018|work=BBC News |last1=Peachey |first1=Kevin }}</ref> and it was revealed that TSB had rejected an offer of assistance from Lloyds Banking Group at the start of the migration crisis. The bank later announced it had hired IBM to help fix the problems.<ref>{{cite magazine|author=Karl Flinders |url=https://www.computerweekly.com/news/252441112/TSB-refused-help-from-Lloyds-as-IT-meltdown-began |title=TSB refused help from Lloyds as IT meltdown began |magazine=Computer Weekly|date=15 May 2018 |access-date=23 May 2018}}</ref> A former TSB board member was quoted by the BBC as saying "human error, pride and software failure" led to TSB's "dreadful" response.<ref name=bbc1/> There were further problems affecting login to online services, and the ability to transfer money on 3 September.<ref>{{Cite web |url=https://www.theguardian.com/business/2018/sep/03/tsbs-apologises-another-online-services-disruption |title=TSB apologises for fresh disruption to online services |last=Brignall |first=Miles |date=3 September 2018 |website=The Guardian |language=en |access-date=4 September 2018}}</ref>
On 4 September 2018, Pester resigned due to the IT failure, and Richard Meddings, the non-executive chairman, became executive chairman until a new CEO could be found.<ref>{{cite web| url = https://www.theguardian.com/business/2018/sep/04/tsb-chief-executive-paul-pester-steps-down|title=TSB chief Paul Pester steps down after IT meltdown|first=Angela|last=Monaghan|date=4 September 2018|website=The Guardian|access-date=4 September 2018}}</ref> In November 2018 TSB announced Debbie Crosbie as new CEO.<ref>{{Cite news|url=https://www.theguardian.com/business/2018/nov/19/tsb-debbie-crosbie-it-meltdown-paul-pester|title=TSB appoints Debbie Crosbie as new chief in wake of IT meltdown|date=19 November 2018|access-date=20 December 2018|newspaper=The Guardian|last1=Makortoff|first1=Kalyeena|last2=Kollewe|first2=Julia}}</ref>
In 2019 TSB returned to profit.<ref>{{Cite news|url=https://www.ft.com/content/3904969a-6816-11e9-a79d-04f350474d62|title=TSB returns to profit after IT fiasco|work=Financial Times}}</ref> In November 2019, TSB was struck by "new IT glitch".<ref>{{Cite news|url=https://www.theguardian.com/business/2019/nov/22/tsb-struck-by-new-it-glitch-just-months-after-330m-meltdown|title=TSB struck by new IT glitch just months after £366m meltdown|work=The Guardian}}</ref> TSB closed 82 branches in 2020 to cut down expenses.<ref>{{Cite news|url=https://www.bbc.com/news/business-50543665|title=TSB to close 82 branches next year to cut costs|date=25 November 2019|access-date=26 November 2019|language=en-GB|work=BBC News}}</ref> Further branch closures in 2021 and 2022 brought the network down to 220 branches.
In 2022, the bank was fined £48.65 million for the poor migration process.<ref>{{Cite web |date=2022-12-20 |title=TSB fined £48m over IT migration meltdown; UK house prices 'could fall 5%' in 2023 soft landing – as it happened |url=https://www.theguardian.com/business/live/2022/dec/20/tsb-fined-it-migration-meltdown-fca-pra-customers-business-live |access-date=2022-12-21 |website=The Guardian |language=en}}</ref> In 2023, the Prudential Regulation Authority personally fined Carlos Abarca £81,000 for his part in the debacle. He had been the chief information officer at the TSB at the time. The fine was reduced from £116,600 after he agreed to settle the matter.<ref>{{cite news |last1=Markortoff |first1=Kalyeena |title=Former TSB chief information officer fined £81,000 over IT meltdown in 2018 13 April 2023 |url=https://www.theguardian.com/business/2023/apr/13/former-tsb-bank-chief-information-officer-fined-2018 |newspaper=The Guardian |date=13 April 2023 |publisher=Guardian |access-date=13 April 2023}}</ref>
===Acquisition by Santander=== On 1 July 2025, it was announced that Sabadell had agreed to sell TSB to Spanish rival Santander for £2.65 billion. Sabadell shareholders approved the sale on 6 August 2025, and, following approval from the Prudential Regulation Authority and European Central Bank, it completed on 30 April 2026.<ref name=":0">{{Cite news |last=Aguado |first=Jesús |date=2025-07-01 |title=Santander bolsters presence in UK with acquisition of TSB for $3.64 bln |url=https://www.reuters.com/business/finance/sabadell-agrees-sell-tsb-santander-265-bln-pounds-expansion-says-2025-07-01/ |access-date=2026-05-01 |work=Reuters |language=en}}</ref><ref>{{Cite web |date=2026-05-01 |title=Santander hails ‘excellent news for UK banking’ after £3bn takeover of TSB |url=https://www.independent.co.uk/news/business/santander-bank-tsb-uk-bank-takeover-b2969122.html |access-date=2026-05-01 |website=The Independent |language=en}}</ref><ref name=":1">{{Cite web |title=Cash Acquisition of TSB Banking Group plc |url=https://www.londonstockexchange.com/news-article/SANB/cash-acquisition-of-tsb-banking-group-plc/17572920 |access-date=2026-05-01 |website=London Stock Exchange |language=en}}</ref> Santander intends to use a banking business transfer scheme to integrate TSB's business with its own in the first half of 2027, subject to court and regulatory approval.<ref name=":1" /> The ''Financial Times'' has reported that the TSB brand will be retired following the integration.<ref>{{cite news|work=Financial Times|date=6 May 2026|first=Simon|url=https://www.ft.com/content/f79764ee-a501-4532-a0e2-35bfe9778185|title=Santander to remove TSB brand from British high streets after 215 years|access-date=6 May 2026|last=Foy|url-access=subscription}}</ref>
==Corporate affairs== ===Identity=== TSB's logo is similar to the logo of the former Trustee Savings Bank and consists of three interlocking circles in varying shades of blue bearing the name of the bank. Since its launch in 2013, TSB has used the slogan "Local banking for Britain" rather than "The bank that likes to say yes" slogan used by the former Trustee Savings Bank. TSB's launch advertising campaign featured a short film about the bank's founder Henry Duncan and was voiced by Patrick Stewart.<ref>{{cite web|url=https://www.youtube.com/watch?v=YJzJCd_pwy8 |title=TSB: The Story |publisher=YouTube |date=8 September 2013 |access-date=22 December 2015}}</ref>
===Locations=== On its formation in September 2013, TSB Bank plc had: * 631 branches, of which:<ref>{{cite web|url=http://www.lloydstsbtransfer.com/documents/transferring_branches.pdf|title=Branches to form part of TSB Bank plc|work=lloydstsbtransfer.com|access-date=26 March 2013|archive-date=26 June 2013|archive-url=https://web.archive.org/web/20130626043701/http://www.lloydstsbtransfer.com/documents/transferring_branches.pdf|url-status=dead}}</ref> ** 282 were former Lloyds TSB branches in England and Wales ** 164 were former Cheltenham & Gloucester branches ** 185 were former Lloyds TSB Scotland branches{{citation needed|date=October 2020}} * Administration centres in Edinburgh, Bristol, Gloucester, Birmingham and London<ref>{{cite web|url=http://www.tsbcareers.co.uk/what-does-it-mean-for-my-career/locations |title=Locations |publisher=TSB Careers |access-date=3 June 2013}}</ref> * Telephony centres in Sunderland and Swansea
==Services== [[File:TSB Bank Shrewsbury Branch.JPG|thumb|upright|A branch of TSB, formerly Cheltenham & Gloucester, on the High Street in Shrewsbury]]
The bank offers a full range of personal and business banking and financial services, including current accounts, mortgages, credit products, insurance, and savings products. TSB Bank is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority.<ref>{{cite web |url=http://www.tsb.co.uk/legal/information_about_us_legal/information_about_us.asp |title=Information about us |date=September 2013 |publisher=TSB Bank |access-date=13 September 2013}}</ref> It is a member of the Financial Ombudsman Service and the Financial Services Compensation Scheme, and subscribes to the Lending Code.<ref>{{cite web|title=Subscribers|url=http://www.lendingstandardsboard.org.uk/subscriberlist.php|publisher=Lending Standards Board|access-date=5 November 2015}}</ref> The bank has an agreement with Visa Inc. to issue Visa Debit cards to its current account customers.
The bank uses the following series of sorting codes:— {| class="wikitable" style="text-align:left" |- ! Range || Note |- | 30 to 39 || former Lloyds TSB branches (in turn pre-merger Lloyds Bank branches) in England & Wales; former C&G Savings codes (used until early 2014)<ref name=cgsortcode group=note>C&G branches used sort codes in the 30-55 to 30-61 range until becoming TSB in September 2013, and continued using them as TSB branches until early 2014, when each was upgraded to offer the full range of TSB products and services and given a new 77 or 87 sort code.</ref> |- | 77-00 to 77-44<br />77-46 to 77-99 || former Lloyds TSB branches (in turn pre-merger TSB branches) in England & Wales; former C&G branches in England & Wales (allocated new sort codes in 2014)<ref name=cgsortcode group=note/> |- | 87 || former Lloyds TSB Scotland branches; former C&G branches in Scotland (allocated new sort codes in 2014)<ref name=cgsortcode group=note/> |}
==Whistletree== {{Infobox company | name = Whistletree | logo = | logo_size = | image = | image_size = | image_caption = | trading_name = | type = Trading division | foundation = 2015 | defunct = | founders = | hq_location = Skipton<ref>{{Cite web|url=https://www.whistletree.co.uk/site-services/complaints|title=Complaints – Whistletree}}</ref> | hq_location_city = | hq_location_country = United Kingdom | key_people = | industry = Banking | products = | area_served = | services = Mortgages | revenue = | operating_income = | net_income = | assets = | num_employees = | owner = | parent = | subsid = | homepage = {{URL|https://www.whistletree.co.uk/}} | footnotes = }} '''Whistletree''' is a trading division of TSB Bank plc which was established to administer mortgage and other loans acquired by TSB from other lenders. It is served by a standalone website and separate contact centre, with TSB branch staff have no access to Whistletree accounts.<ref>{{cite web|url=http://www.whistletree.co.uk/ |title=Whistletree |publisher=Whistletree |access-date=23 May 2018}}</ref> The division's name refers to the blue tree branding used by TSB Bank and the whistling that features in its television advertising.<ref>{{cite web|author=Top trends |url=https://www.mortgagestrategy.co.uk/one-one-padraig-carton-customer-service-operations-director-tsb/ |title=One to One: Padraig Carton, customer service operations director, TSB |publisher=Mortgage Strategy |date= 5 August 2016|access-date=23 May 2018}}</ref>
Whistletree was formed in 2015 to administer the £3.3 billion in mortgages assets that TSB purchased in November 2015 from the nationalised NRAM plc, the "bad bank" formed from the former Northern Rock.<ref>{{cite news|title=Northern Rock mortgages sold for £13bn|url=https://www.bbc.co.uk/news/business-34806370|access-date=13 November 2015|work=BBC News|date=13 November 2015}}</ref> The acquisition was completed in July 2016.<ref>{{cite web|last=Barker |first=Sam |url=https://www.mortgagestrategy.co.uk/tsb-sets-whistletree-brand-former-northern-rock-loans/ |title=TSB sets up Whistletree brand for former Northern Rock loans |publisher=Mortgage Strategy |date= 18 July 2016|access-date=23 May 2018}}</ref>
In January 2017, TSB Bank plc agreed to acquire the loan and mortgage assets of Airdrie Savings Bank which was wound up on 28 April 2017. These assets are also administered by the Whistletree division of the bank.<ref>{{cite news|title=Airdrie Savings Bank to close after almost 182 years with loss of 70 jobs|url=http://www.heraldscotland.com/news/15032085.Airdrie_Savings_Bank_to_close_after_almost_182_years_with_loss_of_70_jobs/|access-date=18 January 2017|work=Herald Scotland|date=18 January 2017}}</ref>
==Notes== {{reflist|group=note}}
==See also== *List of banks in the United Kingdom
==References== {{reflist}}
==External links== {{Portal|Banks}} {{commons category|TSB Bank}} *[https://www.tsb.co.uk TSB Bank]
{{Scottish banks}} {{Commercial and retail banks in the United Kingdom}} {{Lloyds Banking Group}}
{{Authority control}}
Category:Banco Sabadell Category:Banks established in 2013 Category:Banks based in Edinburgh Category:British companies established in 2013 Category:British subsidiaries of foreign companies Category:Companies formerly listed on the London Stock Exchange Category:Mortgage industry of the United Kingdom Category:2013 establishments in Scotland Category:Announced mergers and acquisitions Category:Corporate spin-offs Category:Re-established companies Category:Lloyds Banking Group Category:2014 initial public offerings Category:2015 mergers and acquisitions