Alliance & Leicester Commercial Bank agrees contract with United Utilities

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Alliance & Leicester Commercial Bank agrees contract with United Utilities

Fri 9th May 2008

Alliance & Leicester Commercial Bank has agreed a new five-year contract with the United Utilities, which will allows its customers to pay water bills or make instalments free of charge at any of the 17,000 Payzone retailers in the UK.

The bank expects around six million water bill transactions to be processed using the booklet or plastic card system in the first year.

Currently more than 1,500 organisation use Alliance & Leicester Commercial Bank's services to collect payments from their customers, including 80 per cent of all local authorities and most major utility companies.

It first formed a partnership with Payzone in 2007, whose network is spread across the country.

Paul Charmatz, managing director of Payzone UK, said: "This agreement to provide water bill payment services broadens the services offered to consumers and retailers."

Earlier today Alliance & Leicester announced changes to its fixed-rate bonds, with the interest rate on its one-year product increasing to 6.65 per cent gross per annum AER.

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