Understanding your statement

When you buy something in a shop using your debit card, your available funds are decreased by the amount you have spent however your balance won’t change and you won’t be able to see the transaction on your statement.

Retailers can take up to 4 days to claim the funds from your account. That is when your balance is reduced.

On your Account Summary mini-statement, the transaction will appear as ‘Debit Card Transaction’. You can also see more information with the tool tip when you hover your mouse over the transaction on your mini-statement.

On your full statement, the last four digits of your card number, the date of the transaction and the name of the retailer are shown.

If you pay in cash at an Isle of Man Bank branch, it is immediately reflected in your balance and available funds. If you used our counter service then you will see ‘Teller transaction’ on your mini-statement (‘CDM [sort code] date/time’ if you use a branch deposit machine). The sort code of the branch you used will also be displayed in full online statements on the following business day.

If you pay in a cheque, it will appear in your balance on the following day but your available funds are not increased until the cheque is cleared. This usually takes 3 days.

Cheques can be returned unpaid, so you should allow at least four full working days before you use money from a cheque you’ve paid in. In some cases, because cheques may still come back unpaid after this time, it may take up to five working days for a cheque to clear and postal delays can extend this period further.

Most salary payments are made automatically using ‘faster payments’ and should appear instantly in your account.

If you make a one-off, online payment to another person or a company, your balance and available balance are usually updated instantly. Your payment will usually reach the recipient within 2 hours.

If the payment is made after 6:30pm, the payment will appear to be made on the following day but your balance and available balance are usually reduced immediately.

The payment will usually appear on your statement as ‘CALL REF.NO.XXXX’ where XXXX is a unique number that identifies your online banking session. Once our systems complete their processing, usually overnight, a full description will be displayed on your statement as well as the original call reference number.

When a standing order or Direct Debit is claimed from your account, your balance and available funds will be reduced by the amount of the claim. If your regular payment is due to be paid on a Monday, your balance and available funds are usually reduced by the amount of the transaction on the previous Saturday morning.

Within online banking or mobile banking, the transaction will appear as ‘Standing order’ or ‘Direct debit’ on your Account Summary mini-statement. More information is shown in your full statement within the service e.g. MUNDUS CLEANING, FP 26/06/12 30, 33041853145939000R.