Isle of Man

The Isle of Man Financial Services Authority (IOMFSA) regulates deposit-taking and other licensed financial activities on the island. The banking sector includes locally authorised firms and members or branches of international groups. Different classes of permission apply to different forms of deposit business, including restrictions relating to the types of depositor. A bank's brand therefore tells less than its precise licence and the legal entity accepting the funds.

The Isle of Man Depositors' Compensation Scheme (DCS) is the island's own framework for eligible deposits under defined conditions. It is distinct from the United Kingdom's FSCS, even when related institutions use similar trading names. Pounds sterling (GBP) and other currencies may be used in accounts, while compensation eligibility, repayment rights and account access need to be established from the applicable scheme and customer agreement.