Isle of Man branch accounts moved to Santander International
The UK Financial Services (Banking Reform) Act 2013 requires the largest UK banking groups, including Santander UK,
to comply with new requirements to ring-fence their retail banking from their other banking activities by 1 January 2019.
Under the UK ring-fencing legislation, a ring-fenced bank is restricted from having branches or subsidiaries outside the European Economic Area (EEA) and,
as the Isle of Man is outside the EEA, we will be transferring our Isle of Man business to another part of the Santander Group.
In 2017 the Isle of Man branch started to offer new accounts under the trading name of Santander International.
On 30 November 2017 we wrote to all customers of the Isle of Man branch to advise that we would be moving their accounts held with the Isle of Man
branch from the Santander UK system to the Santander International system as a necessary and important step in the ring-fencing process.
On 5 March 2018 all Isle of Man branch accounts were moved from the Santander UK system to the Santander International system.