Standard Bank (Isle of Man)
Personal Account Opening in Isle of Man
FACTS & INFO
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About the Bank
Standard Bank is South Africa’s largest banking group and owns Standard Bank of South Africa (SBSA) as well as a 53.6% effective ownership in Liberty Group, the third largest life assurer in South Africa.
Standard Bank Group was established in 1862. More than 600 points of representation throughout South Africa, while spanning 17 other key African countries and extending to 12 countries around the globe, including the key financial centres of Europe, the United States, Asia, AND Latin America.
Isle of Man offices have been established for in excess of 20 years. Standard Bank bought Brown Shipley in the Isle of Man and Jersey in 1992 as Exchange Controls started to relax in South Africa.
Standard Bank Isle of Man Limited is licensed by the Isle of Man Financial Supervision Commission. Standard Bank House, One Circular Road, Douglas, Isle of Man, IM1 1SB. Registered in the Isle of Man No. 4713.
Tier 1 Capital Adequacy ratio for Standard Bank Group is 13.2%. Regulatory Requirement is 7%. Credit Ratings:Fitch – BBB, Moody’s – Baa1
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Facilities
WHAT STANDARD BANK IN ISLE OF MAN OFFERS:
- International personal bank accounts
- Structured Notes
- Structured Deposits
- Credit Services
- Fixed Term Deposit Account
- Offshore Saver 96 Day Notice accounts and 196 Day Notice accounts
- IFA Professional Demand Account
- Full 24/7 Internet banking services
- Accounts in Euro, Sterling, US Dollar and Australian Dollar
- VISA debit card
- Customer support in English
BANK TARIFFS AND CHARGES
Standard Bank can be considered as a medium-cost bank with respect to incoming/outgoing payment transfers and account maintenance. Internet banking fees for a sterling electronic funds transfer within the UK is charged at USD 25 and a sterling or non-sterling transfer overseas is charged at USD 30. Standard payment fees for a sterling electronic funds transfer within the UK is USD 45 and a sterling or non-sterling electronic transfer oversees is charged at USD 60. The bank will charge USD 90 per quarter for account maintenance if the average credit balance maintained over any quarterly interest period is less than the minimum balance. The annual maintenance for the Visa debit card is USD 25.
- PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
- New Company professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.
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Requirements
REQUIREMENTS FOR PERSONAL ACCOUNT SET UP WITH STANDARD BANK IN ISLE OF MAN:
- Personal presence is not required
- Minimum balance and the initial deposit of EUR 6,000 will be required.
DOCUMENTS REQUIRED:
- Notarized copy of valid passport.
- The passport must be signed and signature must match the signature in the application form.
- The photograph must be clear and of good quality.
- Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of Banker's reference letter dated within 3 months.
- Personal CV
PLEASE NOTE:
Documents that are not in English must be accompanied by a certified translation.
U.S.A residents are not accepted for account opening.
Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.
SHIPPING COST
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and will be USD 130. Please be advised that there will be some exceptions where the fee might be higher.