Depositors Compensation Scheme in Jersey

Deposits made at Jersey branches of Bank of Scotland plc and Lloyds TSB Offshore Limited are covered by the Jersey Depositors' Compensation Scheme which came into effect on 6 November 2009.

The scheme compensates people who have money in current and deposit accounts in Jersey with up to a maximum of £50,000 of deposits per individual depositor per Jersey banking group. The compensation is payable, irrespective of which country they live in.

The Minister for Economic Development has designated that accounts held with the Jersey branches of Bank of Scotland plc, Lloyds TSB Bank plc and Lloyds TSB Offshore Limited will be regarded as one bank for the purpose of paying compensation to depositors.  This means that where a depositor has accounts with more than one bank in the same group, collectively deposits in those accounts will only be protected up to £50,000 in total.

Customers should refer to the International Finance section of the States of Jersey website for further information.
www.gov.je

Depositors Compensation Scheme in Isle of Man

The Isle of Man branches of Bank of Scotland plc and Lloyds TSB Offshore Limited participate in the Depositors' Compensation Scheme contained within the Compensation of Depositors Regulations 2008 (as amended).

The scheme compensates people who have money in current and deposit accounts in the Isle of Man with up to a maximum of £50,000 of net deposits* per individual depositor per licensed deposit taker.  This means that a maximum of up to £50,000 compensation is payable per individual depositor per licensed deposit taker, irrespective of which country they live in.

Isle of Man Branches of Bank of Scotland plc and Lloyds TSB Offshore Limited are separately licensed deposit takers. They are both members of the scheme.

*Net deposits: Loans may be netted off against any deposits you have with the same deposit taker.

Please note that accounts in the Halifax International name are deposits with Lloyds TSB Offshore Limited, Isle of Man Branch.

The amended scheme now provides protection to non-individual depositors (including trusts, charities and businesses) to a maximum of up to £20,000.

Full Information in relation to the depositor's compensation scheme can be found using the following Isle of Man Financial Supervision Commission website link:

Summary of the DCS Scheme

General

Deposits made in Jersey and the Isle of Man are not covered by the UK Financial Services Compensation Scheme.