Payroll finance problems at Lloyds?

Rumours have surfaced that all is not well at the payroll finance division of Lloyds Bank Commercial Finance as we hear that the back office administration was outsourced to a third party which has resulted in what was described to the Factoring Blog as “an unholy mess” with invoices not being sent out to customers at all for six weeks plus other administrative mess ups resulting in quite a few very unhappy clients.

One factoring company’s telephone hasn’t stopped ringing with unhappy clients wishing to transfer away from Lloyds and they have already taken on a few of their recruitment clients with a few more in the pipeline and that’s just the one factoring company.

If any of the recruitment finance clients of Lloyds are unhappy with the service levels please don’t hesitate to contact us and we can very quickly introduce you to a factoring company that will offer a first class factoring and back office facility that won’t let you down