Isle of Man News - POSTED Fri 22-09-2017

World-leading bank account for yacht crew gets major upgrade

by LC

World-leading bank account for yacht crew gets major upgrade

A market-leading account specifically designed for yacht crew has had a major digital upgrade.
The Seafarer Account is provided by Standard Bank Isle of Man Limited, as part of its retail International Personal Banking proposition.
The account is tailored to the lifestyles of yacht crew, who require multiple currencies and debit cards, easy access to their money and a range of international services, such as payment and foreign exchange facilities and reliable mobile / internet banking.
Standard Bank has now launched an online application channel for the Seafarer Account. This will greatly improve the client experience during the account opening end-to-end process, as well as support a strategic drive to towards digitisation, in response to client demand and expectations.
The new online application is available to crew contacting Standard Bank directly as well as intermediaries, such as Independent Financial Advisers, who are often an essential link between crew, who are constantly on the move, and their financial affairs.
Sheena Maddrell, Business Development Manager for Global Yacht Crew at Standard Bank, said: “We are the recognised leader in providing banking services for yacht crew so this exciting development will be welcome worldwide. Yacht crew are often millennials who expect digital banking so this will greatly improve their initial experience with us, making the application process quicker, easier and more efficient.
“The Seafarer Account has been hugely popular since it was launched in September 2013. The global yacht market is growing exponentially so there is increased demand from crew for an account that is perfectly suited to their globetrotting lives. Not only does the Isle of Man have a burgeoning yacht registry but also a number of local businesses provide financial services to the global yachting market. The digitisation of the Seafarer Account application process is good news for the Island as well as Standard Bank.”

Photo - Sheena Maddrell.

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