Alliance & Leicester International

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Alliance & Leicester International Limited
Former type subsidiary
Industry International banking
Fate Business transferred to parent
Founded 1990
Defunct 2013
Headquarters Douglas, Isle of Man
Products Savings accounts in sterling, US dollars and euros
Owners Santander Group
Parent Santander UK plc
Website www.alil.co.im

Alliance & Leicester International Limited (ALIL) was a wholly owned subsidiary of Santander UK. The bank offered a range of international savings accounts primarily to Isle of Man residents and British expatriates but also to non-domiciles living in the UK, Channel Island residents and expatriates worldwide. ALIL's range of accounts included instant access, notice, monthly interest and fixed rate bonds in pound sterling, US dollars and euros.

The bank was originally formed as the international banking subsidiary of Alliance & Leicester, which was bought by the Santander Group in 2008. Alliance & Leicester was brought together with Santander's existing UK subsidiary Abbey in 2010 to form Santander UK. The business of Alliance & Leicester International transferred to the Isle of Man branch of its parent on 7 May 2013.

History[edit]

The bank was formed in 1990 and was based in the Isle of Man. ALIL was one of the largest deposit takers in the Isle of Man with over £179 million in share capital and reserves. ALIL's eSaver accounts, which were launched in 2007, were the first international savings accounts to offer a purely online application process with no 'wet’ signature.[1]

On 5 August 2011, the business of Bradford & Bingley International, which was also part of the Santander Group, was transferred to Alliance & Leicester International ahead of the expiry of the trademark licence on the Bradford & Bingley name in September 2011.

In March 2013 it was announced that the bank would transfer its business to Santander UK's Isle of Man branch.[2] Customer accounts were transferred on 7 May 2013.[3]

References[edit]

  1. ^ Apply for Alliance & Leicester International's eSaver Offshore Savings Account
  2. ^ Pearson, John. "We're changing to Santander". Alliance & Leicester International. Retrieved 14 March 2013. 
  3. ^ John Pearson (7 May 2013). "Alliance & Leicester International has changed to the Isle of Man branch of Santander". Santander UK plc. Retrieved 8 May 2013. 

External links[edit]