A&L launches expat Internet savings account

Source: Alliance & Leicester International Limited

Alliance & Leicester International Limited (ALIL), the offshore savings bank, launched a new internet savings account in May, offering a market leading rate of 6.15% gross (AER), available for expatriate customers to both apply for and manage their savings online, a first in the offshore savings market.

Since the product was launched, applications have been received online from 84 different countries including Thailand, Madagascar and also from the tiny Island of Sark. And given the global reach of the online application form, applications are received around the clock.

ALIL has also seen a huge increase in the number of visitors to its newly revamped website, with page impressions doubling in the weeks following the launch of e-Saver Offshore.

Simon Ripton, Sales & Marketing Manager at Alliance & Leicester International comments: "We are extremely pleased with how well received this new account has been. I think the success of e-Saver Offshore is due to the fact that it meets a real customer need, it is the first offshore savings account to offer an online application process without the need for a 'wet' signature and customers can both buy and manage their account online and benefit from a market leading rate of interest.

"Customer feedback has been really positive with customers commenting how fast the account opening and set up process is compared to other offshore banks."

The key features of the new account, include;
  • An interest rate of 6.15% gross AER
  • Instant access
  • Sterling currency
  • Both joint and single accounts
  • Interest payable annually
  • Minimum balance £1,000
  • Maximum of £1 million
  • Available to both new and existing ALIL customers, accounts must be opened with funds not already deposited with ALIL
  • Online application process
  • Accounts managed online using MyBankOffshore, ALIL's Internet Banking Service
  • No paper statements provided, instead, an up to date transaction history can be viewed online
  • Deposits and withdrawals completed electronically for speed and security

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