Your bank account in Jersey

The banks for clients off the island

HSBC Expat is a Jersey branch of HSBC Bank plc. The account comes in sterling, euro or US dollars, with fixed-term deposits in 19 currencies. There is no monthly fee as long as you meet the conditions: a relationship balance of £75,000, or £10,000 if you are an HSBC Premier customer elsewhere. Fall below and HSBC charges £50 a month, according to its tariff of 17 August 2026. You apply online, and the form asks for your country of residence first; residents of some countries, the Netherlands, Norway, Ireland and Italy among them, cannot complete it.

NatWest International holds every account for international clients in Jersey, under Jersey law. The International Select Account needs a £25,000 minimum balance and costs £8 a month; International Premier starts at £100,000, and the multi-currency Cash Management Account at £25,000. What you may apply for depends on your country of residence: residents of Austria and Switzerland are offered current accounts, residents of Germany are not. Pick your country on the bank's eligibility page before you plan around it.

Lloyds Bank International and Santander International also have Jersey branches; both appear with their thresholds in banking in the Crown Dependencies. Jersey is strong in private banking too; Union Bancaire Privée runs two branches here, which count as one bank for deposit protection.

Jersey's deposit protection, rebuilt

The Jersey Bank Depositors Compensation Scheme protects up to £50,000 per eligible depositor and per Jersey banking group. A joint account with two holders is protected up to £100,000. Individuals are covered wherever they live. Companies and trusts are not, unless they are charities registered in Jersey.

Since 1 April 2026 the scheme has been run by the Jersey Resolution and Depositors Compensation Authority. The old cap of £100 million on all compensation within five years has gone. The authority aims to pay compensation automatically, without a claim form, by cheque within seven working days, but stresses that payment is not guaranteed.

One thing for your planning: in the second quarter of 2026 the authority began a review of the scheme that expressly covers the £50,000 limit. It plans to put findings and recommendations to the government in the first half of 2027. Until then today's limit applies. The comparison with Guernsey, the Isle of Man, Gibraltar and the FSCS is in deposit protection on the islands.

Jersey and the CRS

On 29 October 2014 Jersey was among the early adopters that signed the agreement to implement the CRS. The island's banks report the accounts of people tax resident elsewhere to Revenue Jersey, and the data goes on to the country of residence. Revenue Jersey updated its CRS guidance in March 2026 for the next stage of the standard.

A Jersey account is therefore an account in a stable, well-supervised jurisdiction, no more and no less. You declare interest and other income where you are tax resident. More in the CRS and the islands.

An account, or a move?

Live in Jersey and the island banks open very different doors, up to the business account that NatWest International offers only to island residents. What a move to Jersey involves, from housing rules to tax, is in our Jersey island profile and the wider British islands section.

Who Jersey suits

Jersey suits you if you want a sterling, euro or dollar account with a big British group without living in the UK, and can hold the bank's minimum balance over time. How wide the choice is depends on where you live, so the country list comes first. If you are bringing less, Lloyds International has a lower entry point.

Sources: HSBC Expat: Eligibility; HSBC Expat: Tariff of charges; NatWest International: International Select Account; JRDCA: Jersey Bank Depositors Compensation Scheme; JRDCA: Review of Jersey's Depositors Compensation Scheme; Gov.je: Common Reporting Standard