Changes to our account opening process
Business accounts for new customers or a business entity that doesn't already bank with us will be offered by NatWest International.
Business Reserve
To apply you must be an existing Isle of Man Bank business customer opening an additional account for a business entity that already banks with us. The business must have a single layer of ownership with no nominee shareholding structures. All owners, directors or shareholders must be resident in the Channel Islands, Isle of Man or Gibraltar. Cash takings must not exceed 20% of the annual turnover.
Instant access to your business savings
Whether you're saving for bills, equipment or to expand your business, our Business Reserve savings account lets you earn interest and have instant access to your funds.
- Access to your business savings instantly
- No penalties for withdrawal
- Save between £1 and £2,000,000
- Interest calculated daily and applied monthly
Interest rates
Definitions
Here's what some of the words we use mean.
Annual Equivalent rate (AER) shows you what the rate would be if the interest was paid and compounded each year.
Gross Rate means the interest rate you are paid without deduction of income tax.
p.a. means Per annum (per year).
How to apply
Before you apply for a Business Reserve account, please review the recent changes to our account opening process and eligibility criteria.
Changes to our account opening process
From 11 December 2023, Isle of Man Bank business accounts are only available to existing business customers opening an additional account for a business entity that already banks with us.
Business accounts for a new customer or a business entity that doesn't already bank with us will be offered by NatWest International.
To apply you must be an existing Isle of Man Bank business customer opening an additional account for a business entity that already banks with us. The business must have a single layer of ownership with no nominee shareholding structures. All owners, directors or shareholders must be resident in the Channel Islands, Isle of Man or Gibraltar. Cash takings must not exceed 20% of the annual turnover.
Let's get started. Are you a...
Isle of Man Bank don't offer this account for new customers
We no longer offer Isle of Man Bank business accounts to new customers.
You can apply for a Business Reserve account with NatWest International.
Is the account for an existing business that already banks with us or a new legal entity?
Before you apply for a Business Reserve account, please review our eligibility criteria, important information and privacy details so you can make sure it's the right account for you.
Eligibility criteria
To apply for a Business Reserve current account with Isle of Man Bank you must be:
- an existing Isle of Man Bank business customer.
- opening an additional account for a business entity that already banks with us.
and the business:
- registered address must be in the Isle of Man and/or be registered for tax purposes in this jurisdiction.
- must have 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 must not exceed 20% of the annual turnover.
Depositor Compensation Schemes
Isle of Man Bank is a member of the Isle of Man Depositors’ Compensation Scheme (DCS) as set out in the Depositors’ Compensation Scheme Regulations 2010. To understand your eligibility under the scheme you may wish to visit the Isle of Man Financial Services Authority website.
Please review our important information
How your information might be used
What kind of company are you?
Looks like you're ready
To help us process your application as quickly as possible, please complete the form in full.
When completed, please save the application form to your computer then email the PDF to our Business Banking Team at businessbankingapplications@iombank.com.
To use the interactive pdf application form, please use your desktop/laptop to download the file directly to your local drive and open the file using Adobe Reader. This form is not supported on mobile devices or tablets.
Looks like you're ready
To help us process your application as quickly as possible, please complete the form in full.
When completed, please save the application form to your computer then email the PDF to our Business Banking Team at businessbankingapplications@iombank.com.
To use the interactive pdf application form, please use your desktop/laptop to download the file directly to your local drive and open the file using Adobe Reader. This form is not supported on mobile devices or tablets.
Looks like you're ready
To help us process your application as quickly as possible, please complete the form in full.
When completed, please save the application form to your computer then email the PDF to our Business Banking Team at businessbankingapplications@iombank.com.
To use the interactive pdf application form, please use your desktop/laptop to download the file directly to your local drive and open the file using Adobe Reader. This form is not supported on mobile devices or tablets.
Looks like you're ready
To help us process your application as quickly as possible, please complete the form in full.
When completed, please save the application form to your computer then email the PDF to our Business Banking Team at businessbankingapplications@iombank.com.
To use the interactive pdf application form, please use your desktop/laptop to download the file directly to your local drive and open the file using Adobe Reader. This form is not supported on mobile devices or tablets.
This account is no longer available for business entities that don’t already bank with us
We no longer offer Isle of Man Bank business accounts to existing customers applying for a new legal entity.
You can apply for a Business Reserve account with NatWest International.