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Depositors Compensation Scheme
The Isle of Man branch of Lloyds TSB Offshore Limited participates 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.
*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 the Isle of Man are not covered by the UK Financial Services Compensation Scheme.
