The Lloyds TSB Group Union (LTU) has condemned plans to transfer 250 Cheltenham & Gloucester (C&G) jobs to India.
Lloyds TSB, which owns C&G, said it has to transfer the jobs to remain competitive. The UK job losses, in areas such as customer services and administration, will be in Gloucester, Scunthorpe and Warwick.
Steve Tatlow, assistant general secretary at LTU, said: "It is unacceptable that Lloyds TSB should be considering exporting even more jobs abroad merely because it can replace its existing staff with lower paid workers in India. This shows total lack of corporate social responsibility."
The move may not be welcomed by customers, as independent research has shown customer service levels to be higher in the UK than in India.
A survey carried out by Mori found that 49 per cent of Lloyds TSB customers would consider changing to another bank rather than having their banking managed from India.