Alliance Leicester/ Abbey £35000 Guarantee

simreb

Both these banks/building societies are now owned by bank Santander. I understand that Alliance Leicester joined the group in July. Is their still a £35000 guarantee at both companies. In the Money Saving Expert table it indicates £35000 each but have things now changed.Do they have a licence for each company and if they do then will it stay that way? It is the number of licence registrations that is important. I understand from BBC report that Spanish, Irish and other foreign banks are not covered by the £35000 guarantee. Does this include Santander or only if a foreign bank has its own branch.

tradetime

I understand that Alliance Leicester joined the group in July.

Incorrect, shareholders only approved the deal yesterday, and EU approved on Tuesday. The deal is set to be completed next month sometime.
AFAIK Alliance & Leicester will initially operate under its own licence, but this would be worth watching if you have money with both A&L and Abbey.