Alliance & Leicester banking business handed to Santander
www.moneynews.co.uk > Banking > Alliance & Leicester banking business handed to Santander
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Money News |
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Alliance & Leicester banking business handed to Santander
Mon 17th May 2010
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The group revealed that a court order was granted on May 13th and will become effective on May 28th at 00.01 BST.
One of the main changes the move will cause is that people who hold an account with both banks are covered for up to £50,000 by the Financial services Compensation Scheme, rather than the £100,000 that they would have been entitled to previously.
In a statement released last week, Santander banking stressed that there will be plenty of benefits for Alliance & Leicester customers, including access to all the companies branches.
The company stated that this means four times as many outlets are available to them.
Alliance & Leicester was taken over in the summer of 2008, in a £1.3 billion deal.
Click here for more banking news
Related News : Banking |
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Related News : Santander |
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