Isle of Man Banking Sector
The Isle of Man has a strong and diverse banking sector that offers a highly developed infrastructure to support individuals and corporations in their global activities. Building on its reputation and expertise, its banking sector offers all the services that private, corporate and institutional clients may need.
The Isle of Man has a reputation as a centre of excellence for expatriate banking and provides a secure location for investments. It is possible to access a complete range of world-class banking services and some the world's most respected international banks have established a presence.
The Isle of Man has a Depositors Compensation Scheme which may compensate people who hold money with current and deposit accounts in banks and building societies licensed in the Isle of Man if they fail. The maximum compensation is £50,000 calculated per individual (and £20,000 for others) in respect of ALL the accounts held with any deposit taker.