Irish Nationwide (IOM)

Account Operation

We have designed our products to be flexible, straightforward and convenient to operate. From our range of accounts we believe that there is an investment term to suit the needs of most lump sum investors.

When depositing and withdrawing money this can be done by cheque or electronic transfer and after every transaction you will receive a written confirmation – keeping you fully informed at all times.

Add to this the convenience of being able to instruct us by fax (see below) as well as by post and you have the ultimate "no fuss" approach to investing in an international finance centre.

Opening Your Account

Our application forms are designed to make it as easy possible for you to open your account, whether you are investing your own money or the funds of a Company or Trust. We only ask you for the information that we are legally required to obtain and essential for our records.

If your application is complete we will advise you straight away of your account number. If you are sending money to us by Electronic Transfer you can first open your account with a “zero balance”. Alternatively simply forward your Sterling cheque to Irish Nationwide (IOM) Limited with your completed application form.

Download Personal Account Application Form in Adobe Acrobat format

Verification of Identity

Like all financial institutions that operate from well-regulated jurisdictions we are required, by law, to verify your identity before we can establish a business relationship.

A summary of the necessary proof of identity documents is summarised below. A fuller explanation of requirements and can be found in the Anti-Money Laundering Checklist which accompanies the application form.

For each applicant it will be necessary to provide a certified copy of one item from List A and one original from List B as follows.

List A		List B
(the document should bear the photograph, signature and date and place of birth of the applicant)		(the address on the document must match the residential address on the application form)
Current valid full Passport Full Driving Licence Government issued National ID Card		A utility bill that has been paid within the last 6 months e.g. gas, electric, rates, council tax, telephone (not mobile phone) The most recent account statement from a recognised bank or bank credit card (not store card) The most recent mortgage statement from a recognised lender

Depositing Money

Deposits can be made by any of the following methods:

Sterling Cheque
Sterling Electronic Funds Transfer into our bank account, by CHAPS, SWIFT or via the bank clearing system (BACS). Our bank details will be issued to you as soon as the account opening formalities are completed.

To avoid any delays in processing your transactions, you should always quote your Irish Nationwide (IOM) account number in all correspondence.

Withdrawing Money

All withdrawals will be repaid to you the accountholder(s) only. To access funds, simply write or fax (see below), quoting your account number, giving full details of the withdrawal including the amount and the destination (this will be your correspondence address or bank account) and specifying which method you prefer (see below).

And to make the process as quick and convenient as possible we provide the following options:

Sterling cheque payable to you
Electronic Funds Transfer direct to your bank account – please note there is a fee for this facility and details will be supplied upon request
Via the bank clearing system (BACS). This is a three-day payment which is currently free of charge

Please note that withdrawals are only available against cheque/draft deposits after 15 bank working days have elapsed since receipt.

For your security, withdrawals will be payable only to you and sent only to your address or bank account.

Fax Withdrawals

For your convenience, we are happy to accept withdrawal instructions by fax. This is a particularly useful facility especially if you are travelling around or live overseas in an area where the postal services are unreliable.

Before we can set this up, it will be necessary to complete the Fax Indemnity Form that accompanies this brochure.

Each instruction will need to be validated by the security code you quote on the Fax Indemnity Form before we can effect the requested withdrawal.

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