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).

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.

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.

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.