Transfer of Bradford & Bingley International customers to Alliance & Leicester International

In 2008, both Alliance & Leicester International Limited (ALIL) and Bradford & Bingley International Limited (BBIL) became part of the Santander Group. Since that time Bradford & Bingley International has continued to use the Bradford & Bingley name under a trademark licence agreement.

At the end of September 2011 that trademark licence expires and in anticipation of this, the business of BBIL has been transferred to ALIL on 5 August 2011.

We will be taking the opportunity to align systems as well as combine facilities as we integrate the business of BBIL, and from 8 August 2011 the BBIL branch in Douglas will be closed and BBIL customers, who have been transferred to ALIL on that day, will start to use the ALIL branch on Prospect Hill.

To help smooth the transition, opening hours will be extending to 9 to 5, Monday to Friday (9.30 start on a Wednesday).

For more information about the transfer of customers, please click here for our information booklet.

Deposit Protection:

With the transfer of the BBIL business to ALIL, that business will become part of the existing ALIL business under one financial services licence (for taking deposits).

Customers who currently hold accounts with both BBIL and ALIL should be aware that after the transfer, as customers of ALIL, they will only have the protection of ALIL’s membership of the Isle of Man Depositors Compensation Scheme, which covers individual retail depositors up to £50,000 per person, and other depositors up to £20,000.

In addition to the statutory depositor protection, Santander UK plc has also provided a 100% parental guarantee for customers of both BBIL and ALIL. This guarantee states that if either ALIL or BBIL are unable to meet their financial obligations to their depositors, then Santander UK plc will step in to meet those obligations.

Please note: the effectiveness of the guarantee can only be fully tested in the event a claim is made under this commitment. The guarantee is dependent on the continued solvency of Santander UK plc.