Sort out Banking

It is of little use trying to attract business to the Isle of Man when one of the largest obstacles is opening a bank account here. The banks have been regulated out of business and most of the large ones are paralysed with fear of regulation !

Business is being turned away because we do not have a vibrant banking sector largely because of overregulation other jurisdictions are not so ready to cripple themselves in this way !

Why the contribution is important

Having access to banking services is vital for new business.

by Lupomen on April 20, 2017 at 04:55PM

Current Rating

5.0
Average score : 5.0
Based on : 2 votes

Comments

  • Posted by charlie April 20, 2017 at 17:34

    Agree, in addition it's almost impossible for residents to obtain credit cards as well, even with M&S!
  • Posted by x May 01, 2017 at 19:35

    Couldn't agree more. The banks have no interest helping small businesses getting off the ground, eight weeks of admin to open a business bank account is not ok.
Log in or register to add comments and rate ideas

Idea topics