Lloyds prepares to retire Halifax brand from 2024 transition

A major British banking brand with a 173-year history is reportedly set to disappear from the high street within months. Lloyds Banking Group is preparing to retire the Halifax name, according to industry reports, with the transition beginning this summer.

Customers will no longer be able to open new accounts with Halifax via its app or website from July 1, according to the reports. By October, the brand is expected to cease taking on new customers entirely, with existing account holders gradually migrated to Lloyds Bank. A spokesperson for Lloyds Banking Group said the company regularly reviews the role of its brands and stated that customers can already use any Lloyds, Halifax, or Bank of Scotland branch and access their services through any of the group's apps. The group declined to comment directly on the reported plans.

It is understood the Bank of Scotland brand will be retained as the group's sole operating brand in Scotland, while Lloyds and Halifax currently compete directly in England and Wales. The reported move would represent a reversal of a previous commitment by a former chief executive to maintain separate brands due to differing customer attitudes.