Yes (up to 50,000 GBP per depositor)
Deposit guarantee scheme is a financial stability mechanism
implemented in many countries to protect bank depositors against the loss of their deposits
in the case when a bank is unable to meet its obligations to depositors
by compensating certain deposits held by depositors of the bank.
This compensation is paid out from the contributions which banks have made
into a deposit guarantee fund.
Deposit Guarantee in Conister Bank Limited
All credit institutions operating in the Isle of Man are obliged to participate
in Manx deposit guarantee scheme.
Conister Bank Limited is a member of Isle of Man Depositors’ Compensation Scheme and makes its contributions into it. In the case of Conister Bank Limited failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
residents of the Isle of Mancitizens of the Isle of Manforeign residentsforeing citizens
registered in the Isle of Manregistered abroadcompaniestrustsnomineescharitiespartnerships
licensed by the IOMFSA
current accountsnotice accountsfixed term accounts
any credit balance on an account with a bank, for example
IMP (Manx pound)GBP (Pound sterling)foreign currencies
all currencies, namely
CIB Limiteddirect private banking and wealth management
8 September 2015
15 March 2017