A chequebook for everyone
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The Post Office’s banking service, National Giro was
established on 18th October 1968. It became independent as Girobank plc
in 1988. Alliance & Leicester purchased the Bootle-based
company from the government in July 1990. And in October
2008 the business was acquired by Santander.
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Introduction
In the 1960s, generally only the more
well - off, salaried employees had bank accounts. Payment of wages
in cash was the norm. Cheque accounts were more likely to be held by
businesses than the man in the street. For sending payments by post,
Postal Orders were widely used.
The 'big four' clearing banks at the time were, Barclays, Lloyds,
Midland and the newly merged National Westminster (Nat West).
Literature
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'Your guide to Girobank' was a typical
publication explaining the operation of an account.
Girobank plc/G1030/1 Sept '86 |
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Key Dates
National Giro was set up by the
Post Office in 1968, and was an initiative of the Labour government
to provide banking facilities for those people who did not have bank
accounts. The process was overseen by the politician Tony Benn the
Postmaster General.
In 1972 National Giro became a separate business within the newly
formed Post Office corporation.
In 1978 National Giro changed its name to National Girobank.
Alliance & Leicester
The Alliance &
Leicester Group can trace its origins back to 1852 and the formation
of the Leicester Permanent Benefit Society. Two key events in the
history of the Group were the merger between the Alliance Building
Society and Leicester Building Society in 1985 to form the Alliance
& Leicester and the purchase of Girobank from the Post Office in
1990.
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Santander
On 12 November 2004, Banco Santander
Central Hispano, SA (Banco Santander) acquired Abbey.
In September 2008, Santander acquired Bradford & Bingley’s savings
and branch network. And in October 2008, Santander purchased
Alliance and Leicester.
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Checked May 2021.
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