Rumours are spreading that Alliance & Leicester are gonna be taken over?

Question

What does that mean for my savings? They are already relegated from FTSE. Is this still a good bank to be with? If not can someone recommend one - preferably with online accounts?

Answer 1

You savings are safe - no worries there. Been announced (as you've no doubt heard) that they are being taken over by the Spanish banking group Santander who acquired what was the Abbey National a few years ago. There was little change to how you could access / use an Abbey account following the take-over and no reason to think why things would be any different with your account at the Alliance and Leicester.

Hang on in there unless you don't like any changes that may bring in in the future - the grass isn't necessarily greener on the other side.

Answer 2

All savings will be okay, they are set to be taken over by Santander who are the Spanish company who own Abbey.  So no worries, plus if you are a shareholder you could be up for a windfall.

Answer 3

When Halifax was taken over a few tears ago, all its customers got a fat cheque, so hang in there.