Alliance & Leicester International
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1990 |
| Defunct | 7 May 2013 |
| Fate | Operations transferred to Santander UK's Isle of Man branch |
| Headquarters | Isle of Man , Isle of Man |
| Products | International savings accounts (instant access, notice, monthly interest, fixed-term bonds) in GBP, USD, EUR |
| Parent | Alliance & Leicester (until 2008), then Santander Group |
Alliance & Leicester International Limited (ALIL) functioned as the global banking division of Alliance & Leicester, which was acquired by the Santander Group in October 2008.
This institution specialized in offering international savings accounts primarily to residents of the Isle of Man, British expatriates, UK non-domiciled individuals, inhabitants of the Channel Islands, and expatriates worldwide. Its product range featured instant access accounts, notice accounts, monthly interest accounts, and fixed-term bond accounts available in pound sterling, US dollars, and euros.
In May 2010, Alliance & Leicester was integrated into Santander UK, a new entity created by merging Santander's existing subsidiary Abbey with the savings division of Bradford & Bingley. Subsequently, ALIL’s operations were transferred to Santander UK's Isle of Man branch on 7 May 2013.
History
Established in 1990 and headquartered in the Isle of Man, ALIL became one of the island's leading deposit holders, with share capital and reserves exceeding £179 million. In 2007, it pioneered the launch of eSaver accounts, marking the first international savings products to feature a fully online application process without requiring a physical signature.
On 5 August 2011, the business activities of Bradford & Bingley International were merged into ALIL ahead of the expiration of the Bradford & Bingley brand. By March 2013, a strategic decision was made to consolidate ALIL’s operations into Santander UK's Isle of Man branch, with all customer account migrations finalized by 7 May 2013.
External links
- Offshore finance
- Defunct banks of the Isle of Man
- Banks established in 1990
- Banks disestablished in 2013
- Banco Santander
- British companies disestablished in 2013
- British companies established in 1990
- 1990 establishments in the Isle of Man
- 1990 establishments in England
- 2013 disestablishments in the Isle of Man
- 2013 disestablishments in England