Lloyds Banking Group will sell branches to Co-op Bank
14 December 2011 Last updated at 16:19 GMT
Lloyds Banking Group has named the Co-operative Bank as its preferred choice to buy the 632 branches it is selling under European competition rules.
The taxpayer-backed bank will now enter into exclusive discussions with them.
Dominic Laurie told Radio 5 live's Richard Bacon what it meant for the customers who have accounts at those branches.
Richard Bacon broadcasts weekdays 1400 to 1600 on Radio 5 live.
For other 5 live highlights, please visit the best bits page.