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Isle of Man Bank - Bye Bye


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Apparently the problem is that IOMB have not renewed their licence to lend to non-Manx residents and even if you have never borrowed you potentially could if you overdrew.

 

This has not been done very elegantly and my son who now lives across was given just three weeks notice which is entirely inadequate after doing nothing wrong for 10+ years.

 

No wonder there's no customer loyalty anymore when they do business like this. Time for a reappraisal I think.

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Apparently the problem is that IOMB have not renewed their licence to lend to non-Manx residents and even if you have never borrowed you potentially could if you overdrew.

 

This has not been done very elegantly and my son who now lives across was given just three weeks notice which is entirely inadequate after doing nothing wrong for 10+ years.

 

No wonder there's no customer loyalty anymore when they do business like this. Time for a reappraisal I think.

 

The letter I received states that the bank no longer holds a UK licence. Anyway it's easy to open a Nat West account, same online software so nothing new to learn, just got to shift my Payee info over for making BACS payments. Standing orders etc. will move over, there's a 0800 Freephone for the terminally bewildered.

 

Shame but to be honest I was going to move my last few quids to my Nat West account anyway.

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Apparently the problem is that IOMB have not renewed their licence to lend to non-Manx residents and even if you have never borrowed you potentially could if you overdrew.

 

This has not been done very elegantly and my son who now lives across was given just three weeks notice which is entirely inadequate after doing nothing wrong for 10+ years.

 

No wonder there's no customer loyalty anymore when they do business like this. Time for a reappraisal I think.

 

You have until December 7th actually, he can use Nat West International (IOM bank) if he wants.

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Not everone has the same date GD. The bank are closing accounts in tranches and laddo received his letter on 21st Oct detailing account closure next Monday. Following some dialogue that has now been put off until Natwest have come up with a replacement.

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Not everone has the same date GD. The bank are closing accounts in tranches and laddo received his letter on 21st Oct detailing account closure next Monday. Following some dialogue that has now been put off until Natwest have come up with a replacement.

 

Ah, OK, apologies etc. I find NatWest a good bank to deal with, I have my private and corporate accounts there.

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