What is international personal banking?
International personal banking enables people who live or work abroad to manage their finances in one central location. By keeping your money in one place, it allows you to make transfers and payments in several currencies from a stable and secure offshore jurisdiction. Providing you with a link between all of your banking arrangements, you can be in complete control of your money, wherever you are in the world.
Who is it suitable for?
International banking can make life easier for a wide range of people:
- Do you spend a lot of time working or travelling abroad?
- Do you receive income in multiple currencies and would like to access this from one central place?
- Do you invest in in multiple currencies across different countries?
- Do you want to send money to your family who live abroad?
- Do you want to diversify your savings to protect yourself from currency fluctuations?
- Do you want to be able to make payments in multiple currencies?
- Do you want a simple solution to managing your finances that it is accessible 24 / 7?
If you have answered yes to any of the above questions then international banking could help you.
What are the benefits of having an international bank account?
There are many advantages to opening an international bank account with Standard Bank Isle of Man.
- Make payments in multiple currencies giving you greater flexibility over your finances
- Grow and protect your money in a stable offshore jurisdiction, on the Isle of Man
- Quick and easy transfers
- 24 /7 Internet Banking facility offering you secure access to your money
- Simple and convenient to open and operate and allows one central location for all your banking requirements
- Visa debit card available in GBP, USD, AUD or EUR
The Isle of Man as an international financial centre
Your international bank account will be operated in the Isle of Man, which is a premier international financial centre. Located off the north west coast of England, the Isle of Man benefits from a strong and stable economy due to its 1,000 years of continuous parliamentary government. It also operates a Depositors’ Compensation Scheme and a Financial Services Ombudsman Scheme for the protection of consumers of financial services in the Isle of Man.
Standard Bank Isle of Man Limited is licensed by the Isle of Man Financial Services Authority.
As one of the world’s premier offshore financial centres, the Isle of Man’s status is supported by Moody’s Credit Rating Agency who have awarded it an Aa1 Sovereign credit rating.*
*Credit rating as at July 2015
Click here for more information about Standard Bank's international operations.
Legislation in the Isle of Man
The Isle of Man has modern legislation on banking, collective investment funds, insurance, investments and trust companies to protect the investor and ensure that the industry is highly regulated. In addition, specific legislation exists to maintain the reputation designed to keep the Islands free of the proceeds of drug trafficking, insider dealing and money laundering.
The Isle of Man exercise their extensive political and legislative independence through their ancient parliament, Tynwald.
Visit the Isle of Man Government website for more information at www.gov.im.