Business Cash Management account
Business Cash Management accounts are available to eligible customers aged 18 or over, opening an additional account for a business entity that already banks with us. Annual account maintenance charge applies.
What is a Business Cash Management account?
A Business Cash Management account lets you look after multiple currencies under one account number, while earning interest on selected balances.
With this account you can:
- Access your money instantly
- Hold multiple currencies in one place
- Earn interest on your GBP, EUR and USD balances
- Make sterling and international payments
- Set up and manage fixed‑term and notice deposit accounts
Please read the Summary Box below which gives you key information.
Summary Box
Account name: Business Cash Management account
What is the interest rate?
Can Isle of Man Bank change the interest rate?
Yes, the rate is variable. We can change rates for any of the reasons set out in the Non-Personal Terms, such as responding to a change in the Bank of England’s base rate.
- If rates are going down, we’ll give you at least 14 days’ notice.
- If rates are going up, we’ll tell you before the change or at the earliest opportunity afterwards.
For more details, please read section 10.3 of the Non-Personal Terms.
What would the estimated balance be after 12 months based on a range of currencies?
How do I open and manage my account?
To apply for this account
- Business Cash Management accounts are available to eligible customers aged 18 or over, opening an additional account for a business entity that already banks with us.
Opening your account
- No minimum deposit required to open this account.
- Annual account maintenance charge of £150 applies.
- If you already bank with us for your business, you can apply by:
- Completing our additional business account form or
- Speaking to your Relationship Manager or
- Contacting our Business Support Team
- If you’re a new customer, or your business doesn’t already bank with us, business accounts will be offered by NatWest International.
Managing your account
- There is no minimum or maximum deposit limit on this account.
- You can manage your account using our online banking platforms, in branch or by telephone.
Can I withdraw money?
Yes, the Business Cash Management is an instant access account so you can withdraw your money at any time without giving notice.
Additional information
Annual Equivalent Rate (AER) shows the interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.
Gross means the interest rate you are paid on your savings with no compounding.
p.a. stands for 'per annum' (per year).
How to apply
Before you apply for a Business Cash Management account, please review our eligibility, important information and details on how we use your information so you're sure it's the right account for you.
Who is eligible to apply?
Our business savings accounts are only available to existing Isle of Man Bank customers who want to open an extra account for a business that already banks with us.
If you’re a new customer, or your business doesn’t already bank with us, business accounts will be offered by NatWest International.
You can apply for an Isle of Man Bank Business Cash Management account if you’re:
- opening an additional account for a business entity that already banks with us
- the owner or director of the business you’re applying on behalf of
and your business has:
- a registered address and/or is registered for tax purposes in the Isle of Man
- a single layer of ownership with no nominee shareholding structures with all owners, directors or shareholders resident in the Channel Islands, Isle of Man or Gibraltar
- cash takings that don’t exceed 20% of your annual turnover
Important information
If someone in your business is a Politically Exposed Person (PEP), or is a family member or close associate of one, and they're a significant controller or beneficial owner, please contact our Business Support Team to discuss.
Please review our important information
If you continue to apply, you’re confirming that you’ve been provided with and have acknowledged our important documents.
How your information might be used
We want you to feel confident about how your information is used and shared. Before you continue, please read our privacy notice.
Apply for a Business Cash Management account
Our business savings accounts are only available to existing Isle of Man Bank customers who want to open an extra account for a business that already banks with us.
If you’re a new customer, or your business doesn’t already bank with us, business accounts will be offered by NatWest International.
If you already bank with us for your business, you can apply by:
- Completing our additional business account form or
- Speaking to your Relationship Manager or
- Contacting our Business Support Team
How to contact our Business Support Team
Call us on 01624 637699
From abroad: +44 1624 637699
Relay UK: 18001 01624 637699
If you'd prefer, email us your name and phone number and we'll get back to you by the next working day.
Lines are open Monday to Tuesday 9:30am - 4:30pm, Wednesday 10:00am - 4:30pm and Thursday to Friday 9:30am - 4:30pm (except public holidays). Calls may be recorded