A basic account with no overdraft or cheque book
To have a Foundation account you must be 18+ and resident in the Isle of Man. The Foundation account can't be applied for directly. We may offer it to you if we think it might be more suitable after you’ve applied for one of our other accounts.
Foundation account
Our foundation account is an alternative financial opportunity for those that are not eligible for our other current accounts. Some of these features include:
- No monthly fee.
- 24/7 access to your account through online banking.
- A debit card to make purchases worldwide.
- Use of our mobile banking app.
- Standing orders and Direct Debits to make it easier for you to pay your bills.
Important information
The foundation account is not one you can apply for, rather, it is one you can be recommended for if your other current account application is unsuccessful. The following steps are the best way to proceed for the foundation account.
- We encourage you to apply for a select account, our standard, everyday current account with no monthly fee which has the option for an arranged overdraft. This account comes with a contactless debit card.
- In the instance where you are unsuccessful in your select account application and we think that a foundation account would be more suitable, then we will offer this to you during the application process.
Features of our Foundation account
Additional account information
There are many reasons why a standard current account is unsuitable for some people and this is usually related to financial difficulties. Our foundation account is suitable if:
- You have little or no credit history
- You’re going through bankruptcy
- You've given us incomplete or inaccurate information when you apply
- You have a low credit score
We understand that managing personal finances can be challenging and improving your credit score is not a straightforward process.
It's always best to consult a financial professional if you’re concerned about your personal finances.
Switch your account to us
The Current Account Switch Service makes switching from one bank or building society to another simple and stress-free. You can choose a switch date to suit you, just make sure you allow a minimum of 7 working days.
This service is only available to switch current account products. Any other products you have with your old bank will not be moved at the same time.
Account terms, rates and fees
How can I apply?
What will I need?
