Isle of Man Bank delaying charity fees for 'further period of time'

Decision due to Covid-19 and rising inflation pressures

Isle of Man Bank says it's delaying the introduction of fees for Manx charities, clubs and societies for a 'further period of time'.

It had been due to impose monthly charges for account maintenance, and an increase in fees for cheque deposits, in June.

However, the bank has confirmed it's suspending the controversial plans, for a second time, due to the current financial climate citing Covid-19 and rising inflation as factors which have influenced the decision.

It says it doesn't have a date planned for when they may be introduced and will keep this under review as it does with any business decision.