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What are cross border charge text alerts?

We send you a notification to alert you when you use your debit card to undertake purchases and cash withdrawals involving a currency exchange in a European Economic Area (EEA) currency (euro and non-euro). The aim of the SMS message is to give you greater transparency on foreign exchange charges for debit card transactions made in the European Economic Area.

Frequently asked questions

Why have I received a Cross Border Payments Regulation SMS message?

Isle of Man Bank is required to send all customers a notification to alert them when they use their debit card to undertake purchases and cash withdrawals involving a currency exchange in a non-euro European Economic Area (EEA) currency (euro and non-euro). The aim of the SMS message is to give you greater transparency on foreign exchange charges for debit card transactions made in the European Economic Area. You are not required to take any further action.

Will I receive an SMS message every time I undertake a Cross Border transaction with my debit card?

You will receive a cross border SMS message for only the first debit card transaction made in each EEA currency (euro and non-euro) per calendar month. For example, if you transact in Polish złoty and Hungarian forint in the same calendar month, you will receive a cross border SMS message for only the first transaction made in each currency.

How do I opt-out of the Cross-Border Payments SMS messages?

You can manage your SMS notifications via the mobile app & online banking service by following the steps below:

Mobile app

  1. Go into the Mobile app
  2. Click on your profile at the top right
  3. Click on Notification centre
  4. Click on Notification settings
  5. Click which account you choose to amend the alert on
  6. Choose Currency Conversion charges
  7. Select to switch off that alert

Online Banking service

  1. Login to Online Banking
  2. Select Alerts from left hand menu
  3. Select the Manage Alerts link
  4. Scroll down to the relevant account for which you want to amend your “currency conversion charges when spending abroad” alerts
  5. Select “Amend alerts settings”
  6. Select “Off” in the dropdown then select “Next”
  7. Review changes and select “Confirm”
  8. Alert preference has now been updated

If you wish to stop receiving this SMS but do not use our mobile app or online banking service, please contact us (opens in a new window) for further assistance.

You can opt back in to receive this message at any stage by following the steps above and switching your settings back on.

I have a joint account; will each party receive the Cross-Border Payments SMS message?

No, the SMS message will only be sent to the person whose name is on the debit card which was used for the transaction.

Am I charged for Cross Border Payment SMS messages?

No, Isle of Man Bank do not charge for these SMS messages however, you need to check with your network provider to understand if they apply a charge. For example, if you are roaming, you may incur charges for receiving texts while abroad.

Why did I not receive a Cross Border Payment SMS message?

There are several instances where a cross border payment SMS message will not be sent:

  1. You used your debit card in a non-EEA currency or country such as the UK, USA, or Australia.
  2. You were offered to make your transaction in Sterling or the relevant foreign currency, and you choose to do so in Sterling.
  3. If we do not hold up to date contact details for your mobile phone number.

To update your mobile phone number via online banking:

Changing your mobile phone number is a 3-step process, and you will need a card-reader to complete the change or confirm the change using Face biometrics.

Alternatively, please contact us (opens in a new window) for further assistance.

  1. Log in to online banking at www.onlinebanking.iombank.com (opens in a new window)
  2. Choose 'Your details' from the main menu
  3. Under the 'Amend personal details' section choose 'Update mobile phone number'

Which countries / currencies are classified as non-euro EEA?

You will receive a Cross Border Payment SMS message if you undertake a debit card transaction for the following:

  • Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain (EUR)
  • Bulgarian Lev (BGN)
  • Croatian Kuna (HRK)
  • Czech Koruna (CZK)
  • Danish Krone (DKK)
  • Hungarian Forint (HUF)
  • Icelandic Krona (ISK)
  • Liechtenstein Swiss Franc (CHF)
  • Norwegian Krone (NOK)
  • Polish Zloty (PLN)
  • Romanian Leu (RON)
  • Swedish Krona (SEK)

What is the Cross-Border Payments SMS message telling me?

The SMS message will provide you with an alert advising of the currency of the debit card transaction and the % mark-up over the European Central Bank rate, in order to provide you with more transparency when undertaking cross border debit card transactions throughout the EEA. The message will enable you to compare costs when making future transactions in the same EEA country/ currency using your debit card.

What does the ECB rate mark-up mean?

The ECB percentage mark-up reflects the difference between what you pay for your debit card transaction using Isle of Man Bank foreign exchange rates and fees, versus what you would pay if the transaction was undertaken at the latest ECB rate.

The ECB rate is the foreign exchange reference rate published by the European Central Bank.

How is the ECB % mark-up calculated?

The % mark-up is worked out by calculating the transaction charges including currency conversion charges such as our Exchange Rate Transaction Fee & Commission Charges, plus the Visa scheme exchange rate applied by the bank and dividing it by the ECB foreign exchange rate. This will be shown as a percentage in the Cross-Border Payment message.

For an estimation on foreign currency conversion charges, check out our card currency calculator.

Why does this SMS message not include any of my transaction information?

The SMS message will provide you with an alert for the cross-border payment debit card transaction only. You can switch on transaction alerts to provide you with specific details for all your debit card transactions by using the Mobile App.

  1. Go into the app
  2. Click on your profile at the top right
  3. Click on Notification centre
  4. Click on Notification settings
  5. Select your Debit card account
  6. Choose transaction alerts
  7. Select to switch on/off that alert

Transaction information can also be found in your Isle of Man Bank account statements.

How can I find out more information about charges for foreign debit card transactions?

You can use our handy card currency calculator to work out all charges before you travel, or even whilst you’re abroad.

Why do I receive notifications for my Isle of Man Bank account, but not my NatWest or RBS account?

Only Isle of Man Bank is required to send Cross Border Payment SMS messages.