Jersey

Banking in Jersey

Jersey is a leading international finance centre (IFC) and has been at the forefront of global finance and international banking for over 60 years. We are a member of Jersey Finance.

Often considered an extension of London, Jersey is a financial hub when it comes to treasury specialists and fund promoters seeking corporate banking services. It’s also a prime offshore destination for High Net Worth Individual’s (HNWIs) thanks to its strong experience in managing and protecting wealth and assets.

Trustees and law firms need expert international banking providers who have strong relationships with all major banks to be able to offer their clients a professional and efficient solution when it comes to their Jersey banking requirements.

Doing Business in Jersey: the benefits

Jersey has developed close connections with Britain, working closely together, however they are independent from the UK. They have their own elected Parliament and have maintained domestic autonomy, putting them in a good position for the post-Brexit future and offering stability and independence as an IFC.

It’s strong regulatory and legal framework is another differentiator for Jersey as an international finance hub. As one of the strongest regulatory frameworks in the world, Jersey ensures clarity and transparency when it comes to sharing information with relevant government authorities. The Jersey Financial Services Commission (JFSC) is the regulatory body in the island, overseeing anti-money laundering and counter finance terrorism. They also manage the island’s regulation, development and supervision of financial services.

When it comes to tax transparency, Jersey scores highly with the OECD and are vigilant when it comes to ensuring tax due is paid. They offer a clear, tax-neutral environment, enabling businesses and investors to be able to operate more efficiently and without cross-border tax issues.

Offshore Banking in Jersey

When it comes to banking in the island, there’s a strong presence of a number of commercial banks, ensuring multiple currencies are readily available and easily reconciled.

And, as many of these banks are international players, they can adhere to the timing limits for wireless transfers and transactions to foreign countries. Opening bank accounts in Jersey can be relatively straightforward, but good relationships with these banking institutions will be advantageous to making the process as seamless as possible.

ikyc can assist with expert international banking solutions.

Established in Jersey since 2012, we assist regulated trustees and professional advisors with their banking needs by helping them open new local bank accounts through our network of over 30 international and offshore banks.

Whether you’re a trust company looking to open a Jersey bank account, or a law firm advising international ultra-high net worth clients, we’re the ideal partner to help you succeed. We also help advisors minimise non-chargeable hours spent on establishing new bank accounts.

Our services include:

Fiduciary Banking: Expert assistance in opening designated bank accounts for fiduciary structures, ensuring compliance with asset segregation and administration requirements.
Private Wealth Management: Introductions to international private banks for UHNW clients and family offices, focused on bespoke investment mandates and wealth preservation.
Custody & Settlement Solutions: Connections to Tier 1 custodians for secure asset protection, full settlement support, income collection, and transparent reporting.
Cash Management & Treasury: Advisory on multi-currency cash flow structures, deposit optimisation, and counterparty risk management within the Channel Islands banking system.
Real Estate Finance: Support for funds and trustees in securing senior debt and financing against prime European and UK property held within Jersey-domiciled structures.

Case study: Banking for Jersey PTCs and Complex structures

A fiduciary group in Jersey engaged us to support banking and investment onboarding for a complex trust structure involving multiple entities. The process was complicated by legacy documentation, cross-border tax considerations, and the need for payment capabilities to beneficiaries and institutions abroad. We worked closely with the trustees and banking partners to ensure compliance with KYC and source-of-wealth requirements, while facilitating digital onboarding and document collation across multiple stakeholders. Despite initial delays and structural clarifications, we secured full approval from the selected bank, coordinated escrow arrangements, and supported the trustees in aligning the structure chart and beneficiary disclosures with regulatory expectations. This engagement demonstrated our ability to navigate sensitive fiduciary setups and deliver efficient, multi-entity onboarding within tight timelines.

Get in touch with us today to learn more about how we can support you with your international banking requirements in Jersey.