Standard Bank in Isle of Man

[Silvio]

https://international.standardbank.com/
Seems like a cheap account with very low minimum balance... and specifically caters to expats (people with diff residency and nationality)

Anybody here used them before? Seems way too cheap for today's banking climate..

 

[Spinat]

Looks not too bad:
South Africa residents

Standard Bank Offshore Services (RSA), operates under the‌ license of The Standard Bank of South Africa Limited (“SBSA”), an authorised Financial Services Provider‍ (FSP11287).

They are licensed as well in Isle of Man, Mauritius and a few other⁠ places.

 

[rowena]

It looks nice but probably they will not open remotely.

 

[djaheim]

Personal or business?

 

[djaheim]

Barclays opens remotely for personal

 

[fshore]

Good bank, opens remotely. Part of UK banking system and can receive faster payments, BACs‌ etc.

 

[rowena]

Can you share the link‌ for apply ? I couldn't find.

Can you able⁠ to open remotely? Is it hard to open ?

 

[rowena]

I found the link for opening international Barclays application. They're asking looots of questions at‌ the form but nothing to do and bank account location is Isle of Man not‍ England. I will check Barclays Private.

 

[djaheim]

Yes its offshore isle⁠ of man, If you want to try barclays private, you need 5M GBP, good luck.⁤

 

[rowena]

It is too high for private‍ banking. I thought it is 1m GBP. Do you have Barcalays International account ? Is⁠ it hard to open ? 40-50 lines of information required in their online application form.⁤

 

[Tax Cow]

Standard bank told me that they won't open a personal account because I expect 3rd‌ party payments from multiple sources.

Although they refused to confirm, my understanding is that I'd‍ have to send in money only from other accounts in my name, or from one⁠ 3rd party, i.e. employer.

Standard Bank IoM has no transactional value, but perhaps for parking⁤ some funds it's okay. Because of harsh limitations on transactions, I wouldn't rate it more⁣ than 3 out of 10.

 

[rowena]

Thank you for the details. What do you think about Barcalys Jersey ? Is it‌ safe to deposit 0.5-1m usd from clean legit business?

 

[djaheim]

Yes i do have⁠ and its simple to open yes.

 

[djaheim]

If you have 1M GBP and want private Bank you can open Santander in Jersey‍ they will take you with 1M GBP

 

[djaheim]

@rowena yes very very safe very stable, strong Bank Barclays

 

[rowena]

Barcalays Jersey looks like a better option. I didn't like Santander app/infrastructure but I will‌ check their private bank benefits. Thank you for the information.

 

[djaheim]

@rowena for personal banking for international customers barclays only open for their offshore jurisdiction in⁠ the isle of man. It should not matter for you cause the platform is the⁤ same . and as i said private banking with 1M santader jersey will take you⁣ or Adams Bank

 

[Artemis Eleutheria]

No banks can be trusted with 1MM

 

[djaheim]

Keep your‌ money under the mattress then

 

[Artemis Eleutheria]

Today that actually‌ is not such a bad idea.