There are eleven deposit-taking banks which are locally licensed in the Isle of Man. I’ve made this quick oversight of local charitable banking options to help other people who lead local charities.
This overview was made to the best of my ability, and is dependent upon easily and publicly-available information to help friends. If you think something should be updated, please contact me anytime and let me know.
Lloyds Bank International Limited
Lloyds Bank International offers an Island Treasurers’ Account. It offers “free banking up to turnover of £50,000 per year.” Lloyds Bank Corporate Markets PLC does not appear to offer relevant services.
Barclays Bank PLC
Barclays offers a Community Account tariff. As of May 2021, it advertises no quarterly maintenance fee, with transactions generally free.
UPDATE, 14 May 2021: Some customers report on Facebook that this is only available to existing customers.
HSBC Bank Plc
HSBC advertises a community account with no monthly fee for places of worship, and also not for profit charities with an annual turnover below £100k. A ‘Small Business Tariff’ for not for profit organisations with a higher turnover charges £6.50 per month.
The Royal Bank of Scotland International Limited
The Royal Bank of Scotland operates locally under the marketing name of Isle of Man bank. It appears that the fees for charity and not-for-profit community organisations are the same as for small businesses, and will be increasing in May 2022 to £10 per account, per month. Additional fees apply to receiving and sending manual payments.
Other banks
Cayman National Bank (Isle of Man) Limited does not appear to offer bank services to charities or not-for-profit community organisations.
Conister Bank does not appear to offer bank services to charities or not-for-profit community organisations.
Nedbank Private Wealth Limited does not appear to offer bank services to charities or not-for-profit community organisations.
Santander in the UK offers a Treasurer’s Current Account to “not-for-profit organisations operating in the UK“. Santander Financial Services plc does not appear to offer an equivalent product on the Isle of Man.
Standard Bank Isle of Man Limited and The Standard Bank of South Africa Limited do not appear to offer bank services to charities or not-for-profit community organisations.