Santander UK plc

Deposit Guarantee

Deposit Guarantee
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 Santander UK plc

All credit institutions operating in the Isle of Man are obliged to participate in Manx deposit guarantee scheme.

Santander UK plc is a member of Isle of Man Depositors’ Compensation Scheme and makes its contributions into it. In the case of Santander UK plc failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Maximum Protected Amount
50,000 GBP
Eligible Depositors
natural persons
  • residents of the Isle of Man
  • citizens of the Isle of Man
  • foreign residents
  • foreing citizens
legal entities
  • registered in the Isle of Man
  • registered abroad
  • companies
  • trusts
  • nominees
  • charities
  • partnerships
Non-Eligible Depositors
licensed by the IOMFSA
other banks
Covered Accounts
any credit balance on an account with a bank, for example
  • current accounts
  • notice accounts
  • fixed term accounts
Non-Covered Accounts
client accounts
Covered Currencies
all currencies, namely
  • IMP (Manx pound)
  • GBP (Pound sterling)
  • foreign currencies
Paid In Currency
GBP

Further Information

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