Private Banking

In the UK, secrecy and confidentiality in relation to banks and bank accounts are primarily governed by a long-established legal principle known as the duty of confidentiality. This means that a bank is legally required to keep all information about its customers, including account details, transactions, and personal data, strictly private. This duty arises automatically when a customer opens an account and forms a contractual relationship with the bank. The obligation was established in case law, most notably in Tournier v National Provincial and Union Bank of England (1924), which confirmed that banks must not disclose customer information without proper justification. However, this confidentiality is not absolute. UK law allows certain exceptions where banks are permitted or required to share information. These include situations where disclosure is required by law, such as in cases involving criminal investigations, anti-money laundering regulations, or court orders. Banks may also disclose information if there is a public duty to do so, if the customer has given consent, or if it is necessary to protect the bank’s own interests, for example in legal disputes.

In addition to common law, confidentiality in banking is reinforced by statutory regulation, particularly through the UK General Data Protection Regulation and the Data Protection Act 2018. These laws require that personal and financial data is processed securely, fairly, and only for legitimate purposes. Financial institutions must also comply with strict regulatory frameworks set by authorities such as the Financial Conduct Authority (FCA), which impose additional obligations regarding customer data protection and transparency. Overall, confidentiality in UK banking means that customer information is strongly protected, but it can be lawfully disclosed under specific and regulated circumstances.

As part of the Iron Bridge membership, a UK bank account is included where your commissions will be deposited.

At a later stage, you may choose to change this to an offshore account or to your own private bank account if preferred.

The account comes with a government deposit protection of up to €100,000. You can choose EUR, GBP, or USD as your primary currency, and the account also supports cryptocurrency transactions.

The account includes access to:

• SEPA payments
• SWIFT transfers
• Currency exchange services
• International transfers

All services are available with very competitive and low transaction fees.

In the UK, secrecy and confidentiality in relation to banks and bank accounts are primarily governed by a long-established legal principle known as the duty of confidentiality. This means that a bank is legally required to keep all information about its customers, including account details, transactions, and personal data, strictly private. This duty arises automatically when a customer opens an account and forms a contractual relationship with the bank. The obligation was established in case law, most notably in Tournier v National Provincial and Union Bank of England (1924), which confirmed that banks must not disclose customer information without proper justification. However, this confidentiality is not absolute. UK law allows certain exceptions where banks are permitted or required to share information. These include situations where disclosure is required by law, such as in cases involving criminal investigations, anti-money laundering regulations, or court orders. Banks may also disclose information if there is a public duty to do so, if the customer has given consent, or if it is necessary to protect the bank’s own interests, for example in legal disputes.

In addition to common law, confidentiality in banking is reinforced by statutory regulation, particularly through the UK General Data Protection Regulation and the Data Protection Act 2018. These laws require that personal and financial data is processed securely, fairly, and only for legitimate purposes. Financial institutions must also comply with strict regulatory frameworks set by authorities such as the Financial Conduct Authority (FCA), which impose additional obligations regarding customer data protection and transparency. Overall, confidentiality in UK banking means that customer information is strongly protected, but it can be lawfully disclosed under specific and regulated circumstances.

As part of the Iron Bridge membership, a UK bank account is included where your commissions will be deposited.

At a later stage, you may choose to change this to an offshore account or to your own private bank account if preferred.

The account comes with a government deposit protection of up to €100,000. You can choose EUR, GBP, or USD as your primary currency, and the account also supports cryptocurrency transactions.

The account includes access to:

• SEPA payments
• SWIFT transfers
• Currency exchange services
• International transfers

All services are available with very competitive and low transaction fees.