The Santander Stand.............

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Courtesy of A&L intranet

Will customers continue to get uoto £35k protection from Financial services compensation fund in respect to both A&L and Abbey?


Customers continue to get separate protection.

Money held with A&L is covered under the FSCS and will continue to receive protection separately to any other bank including Abbey. The FSCS protects 100% of the first £35k held with each bank.

Even if shareholders accept the BS bid and the transaction completes, A&L will continue to be a separate bank, retaining its own banking license. This means that customers deposits will be protected by FSCS separately from any protection they may also have also have deposits they may hold with Abbey. If at sometime after the completion of the acquisition by BS, this was to change, we would communicate the changes to the customer so that they are fully informed.

In the short term they will remain separate entities. I'll take my santader shares and wait to be made redundant (though some would say i already am:icon_bigg)




 
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