[alan999]

Just when for the first time i've a meaningfull amount of money split between A and L and BBI both of them are into financial difficulties following the shock of Northern Rock.

Nationwide do an offshore similar to BBI but with limited amount of free withdrawels but good interest, currently 6.25. However they will transfer to a foreign bank into foreign curency meaning that the business of transfering to HiFx or similar not needed.

I wondered if anyone had used them and what rate of exchange do they operate from. I already enjoy the Nationwide flexaccount means of transfering cash down here and hope they will operate at a similar rate.

Thanks, alan

[thezorbster]

Has A&L been in the news in the UK then? Currently have all our worldly money sitting in an offshore account with them but haven't seen any mention of them in difficulties. Has this been in UK press/news? Any info gratefully received!

[nippa&pippa]

Has A&L been in the news in the UK then? Currently have all our worldly money sitting in an offshore account with them but haven't seen any mention of them in difficulties. Has this been in UK press/news? Any info gratefully received!

me too! I am in dark about this!

[Moorf]

I've just had a bit of a dig around the Internet and can only find references to Alliance and Leicester's shares dropping after the Northern Rock fiasco.


http://www.time.com/time/business/article/0,8599,1661962,00.html - "And further fallout from the squeeze on credit could yet follow in the U.K. Northern Rock rivals Alliance and Leicester and HBoS similarly rely on liquid credit markets, albeit to a degree that's "smaller in magnitude," Collins Stewart's Potter wrote in a research note. Northern Rock, in other words, may not be the last financial institution to find itself in a hard place."

and....

http://www.forbes.com/markets/2007/09/14/northern-rock-update-markets-equity-cx_vr_0914markets10.html

[thezorbster]

Thanks Moorf, had a dig about too but couldn't find much.

[alan999]

i've tried to manipulate the images my oh sent me down on saturday but they become unreadable. If you want to see them please pm me with an e-mail address.

the article states:

analysis from credit suisse shows that b and b can fund itself at least until december while A and L and BBOS will be secure until the second half of next year.

Don't know what it means in plain language but there's plenty banks out there and I've already started to transfer out of A and L.