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Terms & conditions


Our latest Terms and Conditions and account fees documents can be downloaded:

Personal Banking

Non-Personal Banking

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We're changing our charges for Unarranged Overdrafts

From 25th September we’re making to our charges for Unarranged Overdrafts.

  • Reducing the maximum amount you can be charged in any monthly charging period from £150 to £80
  • Increasing Unarranged Overdraft Usage Fees and Unpaid Transaction Fees from £6 to £8

More details on the changes to our unarranged overdraft charges

Terms & conditions governing your use of this website

This website is owned and maintained by Isle of Man Bank Limited ("IOMB"). The use of this website is subject to the following terms and conditions, which you should read carefully. By using this website you agree to be legally bound by these terms and conditions. If you do not accept these terms and conditions, please do not use this website.

Products and services

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Use of Website

1 Whilst we make every effort to ensure that the information, including information based on statutes or other legislative or regulatory instruments, given in this website is up to date, it is not possible to guarantee that this is the case and so we shall not be liable for any loss resulting from reliance upon such information.

2 Levels and bases of tax referred to in this website are those applying under legislation in force at the time of writing the relevant article. These levels and bases may change, and the availability and value of any tax relief will depend on your individual circumstances. In providing this information we are not acting as tax advisers and we strongly recommend that you seek independent professional advice in appropriate circumstances. We shall not be liable for any loss resulting from reliance upon this information.

3 To the extent that statements contained in this website are based on information provided by third parties we shall not be liable for any loss resulting from reliance upon those statements.

4 Unless specifically stated otherwise, graphs and figures used are for illustrative and information purposes only and are not based on past or projected performance. They in no way represent projections of the anticipated or expected performance of relevant products.

5 This website is designed to be accessed through its principal home pages and such other pages as we may decide. If you access the site through individual pages directly, which are not designed for this purpose, you may not see important information that is relevant to information on this website. You will be referred on certain site pages to read "Legal Information". This will contain important details and relevant legal or regulatory information and should be read in conjunction with the relevant site pages.

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Exclusion of liability

6 These 'Exclusion of Liability' provisions should be read carefully as they exclude or limit our legal liability in connection with your use of this website. Nothing in these terms and conditions and in particular within the 'Exclusion of Liability' clauses shall attempt to exclude liability that is not permissible under applicable law, including without limitation, for death or personal injury, or for fraudulent misrepresentation.

7 Nothing in these terms and conditions shall exclude or limit or restrict our duties and liabilities to you under applicable laws, regulations and any conduct of business rules which we are bound to comply with.

8 While we have taken all reasonable steps to ensure the accuracy and completeness of the content of the website, we exclude any warranties, undertakings or representations (either express or implied) to the full extent permitted under applicable law, that the website or (including without limitation) all or any part of the content or materials, accuracy, availability or completeness of the content of the website or any part of the content or materials are appropriate or available for use in any jurisdiction where we provide our services. If you use this website from other jurisdictions, you are responsible for compliance with applicable local laws.

9 We accept no liability (including without limitation) in either contract, tort, negligence, statutory duty or otherwise (to the maximum extent permitted by applicable law) arising out of the use of or access to this website (which includes without limitation) any errors or omissions contained in this website or if the website is unavailable and we shall not be liable for any direct or indirect:

  • economic losses (including without limitation loss of revenues, data, profits, contracts, use, opportunity, business or anticipated savings);
  • loss of goodwill or reputation;
  • special, incidental, consequential loss or damage, suffered or incurred arising out of or in connection with your use of this website and these terms and conditions.

10 Access to and use of this website is at the user's own risk and we do not warrant that the use of this website or any material downloaded from it will not cause damage to any property, or otherwise minimise or eliminate the inherent risks of the internet including but not limited to loss of data, computer virus infection, spyware, malicious software, trojans and worms. Also, we accept no liability in respect of losses or damages arising out of changes made to the content of this website by unauthorised third parties.

11 To provide increased value to users of this website, we may provide links to other websites or resources (that are not part of the The Royal Bank of Scotland Group) for you to access at your sole discretion. You acknowledge and agree that, as you have chosen to enter the linked website we are not responsible for the availability of such external sites or resources, and do not review or endorse and shall not be responsible or liable, directly or indirectly, for (i) the privacy practices of such websites, (ii) the content of such websites, including (without limitation) any advertising, content, products, goods or other materials or services on or available from such websites or resources or (iii) the use that others make of these websites or resources, nor for any damage, loss or offence caused or alleged to be caused by, or in connection with, the use of or reliance on any such advertising, content, products, goods or other materials or services available on such external websites or resources.

12 The above limitation or exclusion may not apply to you to the extent that applicable law may not allow the limitation or exclusion of liability for incidental or consequential damages.

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Personal Data

13 By agreeing to be bound by these terms and conditions, you are agreeing to be bound by our Privacy Policy.

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Copyright

14 All rights, save as expressly granted, are reserved. Reproduction in any form of any part of the contents of this website without our prior written consent is prohibited unless for personal use only.

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Trade Marks

15 This web site contains trade marks belonging to IOMB and other companies in The Royal Bank of Scotland Group. No rights are granted in respect of any of the trade marks, whether registered or unregistered. If you are in doubt as to whether an item is a trade mark of IOMB or another member of The Royal Bank of Scotland Group, please contact us for clarification.

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Advice

16 The contents of this website do not purport to provide any financial, investment or professional advice and nothing on the pages of this website shall be deemed to constitute the provision of financial, investment or other professional advice in any way. In particular but without limitation, unless we expressly agree in writing, we do not hold ourselves out as providing advice on the suitability of accounts, products or services for you.

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Changes to this Website

17 The contents of this website, including these terms and conditions of use, are subject to change by us without notification. Additionally IOMB shall not be obliged to remove any outdated information from the website or to expressly mark it as being outdated.

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Telephone Calls

18 Calls may be recorded.

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Internet Communications

19 Customers of Isle of Man Bank are advised that National Westminster Bank plc ('NatWest plc') provide technology support to Isle of Man Bank's online banking service and this will enable NatWest plc in the UK to access your account data. In subscribing for this service, you consent to and authorise this access.

20 In order to maintain the security of its systems, protect its staff and detect fraud and other crimes, NatWest reserves the right to monitor all internet communications, including web and email traffic, into and out of its domain. Monitoring includes (without limitation) checks for viruses and other malignant code, criminal activity, and use or content that is unauthorised or unlawful or material that may cause offence in any way.

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Complaints

21 If you are not satisfied with any of our products or services, we have a complaints procedure that you can use. A leaflet, giving details of the procedure, is available from your branch upon request.

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Governing law

22 The terms and conditions of use of this website are governed by the law of Isle of Man.

23 The access to and issue, publication, distribution, duplication or other dissemination of all or part of any of the material contained on this site is restricted by law and / or regulation in certain jurisdictions. We therefore strongly recommend that persons accessing this site inform themselves about such restrictions in order that they may observe and comply with them.

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General details

24 Isle of Man Bank Limited (IOMB). Registered Company Number: 1C Isle of Man. Registered Office: 2 Athol Street, Douglas, Isle of Man, IM99 1AN. Tel. 01624 637000. Licensed by the Isle of Man Financial Services Authority in respect of Deposit Taking, Investment Business and registered as a General Insurance Intermediary.

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Miscellaneous

25 Internet e-mails are not necessarily secure as information might be intercepted, lost or destroyed. Please do not e-mail any account or other confidential information.

26 Our services are not offered to any person in any jurisdiction where their advertisement, offer or sale is restricted or prohibited by law or regulation or where we are not appropriately licensed.

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Products and services

Mobile Banking

The Mobile Phone Banking Service is supplied by Monitise Limited in association with Royal Bank of Scotland PLC. Applying for Mobile Phone Banking Service may enable other members of the RBS Group to access your account data and in subscribing for this service you consent to and authorise this access.

Personal Banking

Business Banking

Deposit products, savings accounts and current accounts

Copies of our most recent audited accounts are available for inspection on request.

IOMB is a member of the Isle of Man Depositors' Compensation Scheme (DCS) as set out in the Depositors' Compensation Scheme Regulations 2010. Further details of the scheme are available on request.

IOMB is not an Authorised Person subject to the rules and regulations made under the UK Financial Services & Markets Act 2000, and therefore deposits made with branches, all of which are outside the UK, are not protected by those rules and regulations covered by the UK Financial Services Compensation Scheme.

As at 31 December 2014, the paid-up capital and reserves of IOMB exceeded £95 million. UK resident depositors may be subject to declaration and taxation of resulting income.

IOMB is a member of The Royal Bank of Scotland Group. The Royal Bank of Scotland plc - Registered in Scotland No 90312. Registered office: 36 St Andrew Square, Edinburgh EH2 2YB. The Royal Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The latest report and accounts are available at www.investors.rbs.com.

IOMB places funds with other parts of its Group and thus its financial standing is linked to the Group. Depositors may wish to form their own view on the financial standing of IOMB and the Group based on publicly available information. The latest report and accounts are available at www.iombank.com/financial-results.

UK resident depositors may be subject to declaration and taxation of resulting income.

AER stands for Annual Equivalent Rate and illustrates the interest rates as if paid and compounded each year.

The use of the word "Guaranteed" in relation to this product refers only to the ordinary contractual obligation of the bank to repay your capital in full upon maturity. Our products are not guaranteed by any other party and your rights to repayment upon liquidation of the bank are the same as for any other unsecured depositor of the Bank.

With currency accounts there is an exchange rate risk if the currency is not the depositor's reference currency.

Fixed deposit accounts may not be suitable if you require easy access to your funds or an income.

When you pay into your account at a NatWest branch in the United Kingdom, National Westminster Bank Plc (NWB) agrees to receive the money from you for transfer and credit to an account held by you with IOMB. NWB acts as your agent and, if IOMB is willing to accept the funds from you, the credit will be shown on your bank statement.

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Mortgages

At Isle of Man Bank we seek to understand all of our customers' financial needs and provide a full banking service. Therefore, in order to apply for a mortgage you must hold or open a current account with us. The main applicant’s salary must be paid into an account with Isle of Man Bank throughout the mortgage term, or, if earlier until retirement.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Over 18's only. Security required.

YOU SHOULD CHECK THAT EQUITY RELEASE AND BULLET REPAYMENT MORTGAGES WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.

CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.

Please note that for mortgages with interest payments based upon variable rate terms there is a risk that the total sum payable under your mortgage increases significantly as rates rise.

Mortgages are available for United Kingdom properties in limited circumstances only and are not covered by the majority of the rules and regulations made under the UK Financial Services and Markets Act 2000. This means that the protection of those rules and regulations and of the UK Financial Services Compensation Scheme will not be available to borrowers.

Please note that whilst the examples quoted on this site are fictitious, the figures quoted are based on facts and can be fully supported by reference to bank records and / or statistics. Where monthly repayments are reduced by amalgamating debts it may be that those debts are repaid over a longer period and the total amount of interest paid thereon is consequently greater.

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Loans and Overdrafts

Credit facilities: Over 18s only

Security may be required.

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Online banking

Customers of Isle of Man Bank are advised that National Westminster Bank plc ("NatWest plc") provide technology support to Isle of Man Bank's online banking service and this will enable NatWest plc in the UK to access your account data. In subscribing for this service, you consent to and authorise this access.

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Insurance

Home Insurance

Home Insurance is underwritten by U K Insurance Limited who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number: 202810. Registered Office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No. 1179980. UKI is owned by Direct Line Insurance Group plc. The Royal Bank of Scotland Group plc, parent company of IOMB, has a shareholding stake in Direct Line Insurance.

Essentials Contents Insurance

Essentials Home Insurance is underwritten by U K Insurance Limited who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number: 202810. Registered Office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No. 1179980. UKI is owned by Direct Line Insurance Group plc. The Royal Bank of Scotland Group plc, parent company of IOMB, has a shareholding stake in Direct Line Insurance.

Car Insurance

Car Insurance is underwritten by U K Insurance Limited who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number: 202810. Registered Office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No. 1179980. UKI is owned by Direct Line Insurance Group plc. The Royal Bank of Scotland Group plc, parent company of IOMB, has a shareholding stake in Direct Line Insurance.

Travel Insurance

Isle of Man Bank Travel insurance is administered by Cigna Insurance Services (Europe) Limited on behalf of Cigna Europe Insurance Company S.A-N.V. Subject to the prudential supervision of the National Bank of Belgium, Boulevard de Berlaimont 14, 1000 Brussels (Belgium) and to the supervision of the Financial Services and Markets Authority (FSMA), rue du Congrès 12-14, 1000 Brussels (Belgium), in the field of consumer protection and subject to limited regulation by the Financial Conduct Authority.

Travel Insurance is only available to persons residing within the United Kingdom (including Northern Ireland), Isle of Man, Channel Islands and Gibraltar.

Cigna Insurance (Europe) Limited is dedicated to providing a high quality service and wants to maintain this at all times. If you are not satisfied with this service, please contact them immediately so that your complaint can be dealt with as soon as possible.

Should you have a complaint, please contact: The Customer Service Manager, IOMB Travel Insurance, Cigna Insurance Services, 1 Drake Circus, Plymouth, PL1 1QH. Tel: + 44 (0) 2392 676061. E-mail: IOMBank.travelinsurance@cignainsurance.co.uk. If you are not satisfied following receipt of our final response, you may contact the Financial Ombudsman Service (FOS), South Quay Plaza, 183 Marsh Wall, London E14 9SR Telephone 0800 023 4567 or 0300 123 9123; Fax 0207 964 1001; www.financial-ombudsman.org.uk.

Car Rental Loss Damage Waiver & Private Motor Excess Insurance

The Car Rental Loss Damage Waiver Insurance cover together with the Private Motor Excess Insurance is provided by White Horse Insurance Ireland dac. Suite 4, Rineanna House, Free Zone West, Shannon, County Clare, Republic of Ireland. White Horse Insurance Ireland dac. are authorised and regulated by the Central Bank of Ireland. Should you have a complaint about a claim, this should be sent to The Customer Experience Manager, White Horse Insurance Ireland dac. Suite 4, Rineanna House, Free Zone West, Shannon, County Clare, Republic of Ireland. If you remain dissatisfied you may refer your complaint to the Financial Services Ombudsman Bureau, 3rd Floor, Lincoln House, Lincoln Road, Dublin 2, Republic of Ireland. Telephone + 353 (0) 1662 0899. Calls may be recorded.

Lifestyle Management & Concierge

Ten Lifestyle Management and Concierge Service (the “Service”) is provided by Ten Lifestyle Management Limited (“Ten”), registered in England and Wales under company number 4688658 and having its registered office at Fitzroy House, 2nd Floor, 355 Euston Road, London, NW1 3AL.

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