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Stan Keig - Viking Office Systems
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Here you can find frequently asked and answered questions. Please select the category which your question is about and you will find the full list.
What is QuickPay?
QuickPay is a secure payment portal which will allow you to make payments towards outstanding loan payments.
How do I use QuickPay?
Follow the link from the Conister Website – it is a green button on the top right, labelled QuickPay.
You simply enter the details used on the agreement to validate who you are and then login. We ask for the following information:
- Agreement number
- Date of Birth
- Post Code
You will only be able to pay the amount that is outstanding, or a partial amount, so you will need to know what that amount is. Refer to your agreement for that information.
How secure is QuickPay?
QuickPay carries the same server security as our other WebPortals.
How quickly is my payment processed?
The payment is processed the same way as a normal card payment, however we automatically apply the transaction to your agreement whilst that happens.
Do I need to log in to access my account?
There is no log in required but rather a validation step prior to the payment screen. See above question on how to use QuickPay.
How much or how little can I pay?
There is no minimum payment, but the maximum payment is the outstanding amount on your account.
Do I receive a receipt after payment?
On the confirmation screen after your payment you are offered the option of printing the confirmation.
Is there a charge for using QuickPay?
Conister does not apply any charges to you for using QuickPay however, your own bank may charge for the payment.
Can I fully settle, or pay early to my loan agreement in the QuickPay portal?
No. The QuickPay portal is only for outstanding payments.
Should you wish to receive a settlement figure and make a payment, please contact our Operations team by calling us or writing to us at the details found on our Contact Page.
- What is QuickPay?
What do you mean by ‘interest is compounded’ to the Notice Deposit Account?
Interest is calculated on a daily basis and will be credited to the Notice Deposit Account on 30th June and 31st December automatically. This new balance will then start to accrue daily interest.
What penalty will I incur if I withdraw funds immediately from the Notice account?
We do not permit early withdrawal on our savings accounts, however, under exceptional circumstances we may allow. A 4% fee on the amount withdrawn and an administration charge of £25 will be applied.
What is the maximum balance for a Notice Deposit Account?
£500,000. Larger amounts may be accepted at our discretion.
Will I be advised if the variable interest rate changes on my Notice Deposit Account?
The new rates will be updated on the Conister Bank website and we will communicate in writing to the first named account holder affected.
How do I transfer money into my Fixed Term Deposit Account?
Funds can be transferred into your new account by cheque or bank transfer.
You can attach a cheque when submitting your application form, however, if you prefer to pay by bank transfer, we will provide you with an account number once your account is set up.
How do I transfer money into my Notice Deposit Account ?
Funds can be initially transferred into your new account by cheque or bank transfer.
Once your Notice Deposit Account is open you can only add a minimum of £10,000 additional deposits via Bank transfer.
Will I incur a penalty if I withdraw my funds immediately from my Notice Deposit Account?
4% fee on the amount withdrawn and an administration charge of £25.
Can I place multiple notice requests on my Notice Deposit Account?
No, only one notice request may be given at any time.
What happens to my Notice Deposit Account when the notice period is up?
Your funds will be sent to your nominated bank account.
Can I close my account early?
We do not permit early withdrawal on our savings accounts, however, under exceptional circumstances we may allow. Please see our Terms and Conditions for more information about our Savings products.
Can I cancel notice on my Notice Deposit Accounts at any time?
If we have not acted upon your notice instruction, we may be able to comply with your request to cancel it.
How do I give notice on my Notice Deposit Acccount?
Written notice must be provided and must be signed by all account holders in line with the mandate.
Can I add funds to the Notice Deposit Account?
Yes. The minimum additional deposit amount is £10,000 and can only be paid via Bank transfer.
Where can I find what rate of interest being offered on all savings accounts?
The Conister Bank website www.conisterbank.co.im or by calling the office on 694694.
Is the interest rate fixed on the Notice Deposit Accounts?
No. The interest rate on a Notice Deposit Account is variable. We may at any time vary the rate(s) on your Account without notice.
Can I have the interest paid away to another bank account?
No. Interest is added to your Notice Deposit Account automatically.
When is interest paid on the Notice Deposit Account?
Interest is accrued daily and added to the Notice Deposit Account semi-annually, 30th June and 31st December. If either of these dates fall on a non-working day, interest will be paid on the next working day.
What is the minimum balance for a Notice Deposit Account?
I have an existing Fixed Deposit Account. Can I break this deposit account without penalty and switch to a Notice Deposit Account without penalty?
No. The product specifications are different between the two products. If you want to switch to a Notice Deposit Account, you must wait until your Fixed Deposit Account matures.
What is AER and Gross?
AER stands for the Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded to the account once a year.
Gross interest is the annual rate of interest to be paid on a deposit account before taxes or other charges are deducted.
Will I receive a certificate of interest?
A certificate of interest will be issued annually to Isle of Man residents only.
Will I receive an account statement?
Yes, you will receive an annual statement on the anniversary of your account opening date.
Can I add funds to my Fixed Term Deposit Account?
No, our accounts are fixed terms which does not permit additional funds. If you wish to add an additional investment a new account can be opened, or, upon maturity the additional amount can be added when reinvesting.
How is interest calculated?
Interest is calculated daily and paid annually or monthly.
What are the tax implications?
All interest is paid gross and it is the responsibility of the account holder to disclose their savings interest earned to their appropriate tax authority
Can I submit my application form via email?
Yes complete, sign and email your application to email@example.com or post to Clarendon House, Victoria Street, Douglas, IM1 2LN
What ID do I need to provide?
We will require two forms of certified identification to verify proof of identity and verification of permanent address.
What information do I need to provide to apply for a savings account?
In order for us to meet our legal and regulatory responsibilities and internal policies, we will require you to complete an application form and supply identification to enable us to comply with Customer Due Diligence (CDD).
How is interest paid?
You can decide to have your interest paid annually or monthly. Annual interest will be paid on the anniversary of the account opening and can be compounded or paid away to a nominated account. Monthly interest cannot be compounded and must be paid away to a nominated account.
How safe is my money?
We are covered by the Isle of Man Depositors’ Compensation Scheme (DCS), the current limits are up to £50,000 per person. This is not per account. Find out more
Who can open an account?
All our accounts are available to Isle of Man residents and Expats holding a British passport aged 18 or over, with the exception of USA citizen.
Why are you asking me for so much information?
In order for us to meet our legal and regulatory responsibilities, internal policies and standards relating to Customer Due Diligence (CDD), we require you to provide us with the information to enable us to establish your identity.
- What do you mean by ‘interest is compounded’ to the Notice Deposit Account?
What is a PEP?
A politically exposed person (PEP) is an individual who has been entrusted with a prominent position.
- What is a PEP?