Customers unhappy over branch sell-off Lloyds customers say they have been left in the dark by the bank over which accounts will be affected by a deal to sell hundreds of branches to the Co-operative Bank. The sale has been welcomed by consumer groups who want to see more "challenger" banks to rival the dominance of the high street's biggest lenders - but many Lloyds" customers are unhappy at the prospect of being moved. Customers took to online forums this week to complain about the deal and the lack of information available. One Lloyds TSB customer wrote: "Not happy. I've been a Lloyds TSB customer for about 30 years and don't want to move my bank, now I'm being forced into it. More than 3m current accounts will be transferred to the Co-op, along with individual savings accounts (Isas) and mortgages. But Lloyds said that it could not yet give precise details about which customers would be affected. Customers who opened a current account, Isa or mortgage at one of the 632 branches that will be sold to the Co-op are likely to be moved across to the mutual, though not all. Account holders who wish to remain with Lloyds TSB cannot opt out of the transfer and will not be given information about how to stay with the bank unless they request advice. Customers who do not wish to become Co-op customers will be forced to close their existing Lloyds account and open a new account in one of the branches not up for sale. Although Lloyds has listed the branches to be sold, it has not yet written to affected customers. "Some of the customers affected will no doubt have been surprised not to be contacted before this process started," said Adam Scorer of Consumer Focus. However, now they need to be contacted quickly and kept fully informed on what will happen. The deal to sell Lloyds Banking Group branches, codenamed Verde, will result in one of the biggest banking shake-ups on the high street, turning the Co-op into one of the UK's largest retail banks. As part of the deal, all Lloyds TSB Scotland and Cheltenham & Gloucester branches will be sold to Co-op, as well as a number of Lloyds TSB branches in England and Wales. A spokeswoman for Lloyds said the bank will write to affected customers next year, explaining what will happen, once it has reached a legally binding agreement to sell the branches. The deal, which still requires final regulatory clearance, is estimated to complete at the end of 2013 In the meantime customers have been reassured that there will be no changes. According to a spokesman for Co-op, customers transferred are likely to keep their existing rate for a period before it migrates all customers to a single suite of products - which is unlikely to happen before 2015, he said. The key thing about this is that we have plenty of time to manage this through and give us time to look at the best way forward. Although Co-op scores highly on customer satisfaction surveys, experts point out that some of its saving rates are not as competitive as Lloyds. Lloyds TSB customers can earn 3 per cent annual interest on balances between £3000 and £5000 in their current account, while Co-op's standard current account pays no interest. However, existing mortgage holders on C&G's low standard variable rate, which is guaranteed at a rate of 2 per cent over the Bank of England base rate, are likely to keep this rate, according to Ray Boulger of John Charcol, the mortgage broker. "The cap is a contractual obligation of their mortgage, which means Co-op will have to honour the existing obligations," he explained.