Skipton International Beats Offshore Opposition to Top Business Moneyfacts Award

ST PETER PORT, Guernsey, March 31, 2010 /PRNewswire/ -- Skipton International scooped first place in the prestigious 2010 Business Moneyfacts awards for Best Offshore Business Deposit Account Provider, beating off strong opposition from other banks in Guernsey, Jersey and the Isle of Man. Scott Carre, Skipton International's Relationship Manager, was on hand to collect the top award from event host, Bill Turnball, presenter of BBC Breakfast, at the ceremony held at The London Marriott Hotel Grosvenor Square on 25 March.

The Business Moneyfacts Awards are a much awaited fixture in the international and domestic UK banking calendar. Business Moneyfacts gathers and publishes data on a daily basis on all the major business savings and mortgage products offered by banking organisations both offshore and in the UK. Business Moneyfacts "Best Buy" tables are an independent industry benchmark, which all banks watch closely. Skipton International won the top prize because of the consistently attractive interest rate it has offered on its Business Account over the past 12 months.

Created initially for brokers and professional intermediaries holding client funds, the account has also been popular with trusts companies and small businesses wishing to invest surplus cash in a low risk, easy access account. Skipton International has also gone to great lengths to make their business accounts quick and easy to set up.

Commenting on the award, commercial director Jim Coupe said, "This is a very important award for us and our business clients and our staff can feel justly proud. We have always set out to offer consistently attractive and transparent accounts for both our business customers and our personal savers. This award from Business Moneyfacts' independent research offers a strong endorsement of that strategy, coming as it does on top of our Moneyfacts commendation received last year in respect of our International Notice 90 Account."

Skipton International Ltd offers a range of sterling, euro and US dollar personal and business accounts and is part of Skipton Building Society, the fourth largest in the UK with over GBP15 billion assets. Skipton International is a leading provider of mortgages in Guernsey, Jersey and Alderney.

For more information on Skipton International savings products, visit http://www.skiptoninternational.com or call +44-(0)1481-727374

Award photo featuring Bill Turnbull, BBC Breakfast Presenter, available on request.

    Editor's notes:

    1) Skipton International Limited (SIL) is a wholly owned subsidiary
       of Skipton Building Society (SBS), the UK's 4th largest building
       society with over GBP15 billion assets.

    2) SIL is licensed under the Banking Supervision (Bailiwick of
       Guernsey) Law 1994, as amended.

    3) Skipton Building Society has given an undertaking agreeing to
       discharge the liabilities of SIL in so far as SIL is unable to
       discharge them out of it own assets and whilst SIL remains a
       subsidiary of Skipton Building Society.

    4) As a Licensed Bank in Guernsey, Skipton International
       Limited is a participant in the Guernsey Banking Deposit
       Compensation Scheme (the "Scheme") established by The Banking Deposit
       Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008
       (the "Ordinance"). The following is a brief summary of the Scheme,
       but is not intended as a substitute for the actual wording of the
       Ordinance, a copy of which is available on request.

       - The Scheme only applies to 'qualifying deposits', which
         broadly means deposits made by natural persons for their own
         benefit; with a few limited exceptions such as, for example,
         deposits made by trustees of retirement annuity trust schemes,
         the Scheme does not apply to companies, trusts, partnerships or
         charities.

       - The Scheme will provide compensation in the event that a
         Licensed Bank is unable to repay its depositors. Under normal
         circumstances, payment will be made within 3 months of receipt of
         a valid claim form.

       - Compensation is limited to a maximum of GBP50,000 per
         individual claimant; in the case of a joint account each depositor
         would be entitled.

       - Total Scheme compensation in any five year period is limited
         to GBP100 million. If claims exceed this cap, compensation would
         be reduced pro rata. The cap also means that compensation in
         respect of any one bank cannot exceed GBP100 million.

       - The amount payable may be reduced if the Bank has any contractual
         right of set-off against the account. The Scheme is entitled to
         recover compensation from any funds subsequently paid out by the
         Bank.

       - Further information and a leaflet about the Scheme is available at:

         Website: http://www.dcs.gg

         Telephone: +44-(0)1481-722756

         Post: P.O. Box 380, St Peter Port, GY1 3FY

    5) Deposits made with SIL are not covered by the Financial Services
       Compensation Scheme established under the UK Financial Services and
       Markets Act 2000.

    6) SIL places funds with SBS and thus its financial standing is
       linked to SBS. Publicly available information, including reports and
       accounts, is available from http://www.skipton.co.uk.

    7) Copies of the latest SIL audited accounts are available on request.


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SOURCE Skipton International