A bank account has been designed specifically for yacht crew by a Douglas-based bank.

Standard Bank’s Seafarer Account has launched an online application for its independent financial advisor network.

The application makes it easier for IFAs to reach out to crew, who may be unable to meet them face-to-face.

Once a client begins the application process, Standard Bank can now take over at an earlier stage thanks to the online application, making the process quicker and more efficient.

The online application can also be used by crew contacting Standard Bank directly.

The Seafarer Account is provided by Standard Bank Wealth International as part of its retail international personal banking business.

The company says: ’The account is tailored to the lifestyles of yacht crew, who require multiple currency services and debit cards, easy access to their money and a range of international services, such as payment and foreign exchange facilities and reliable mobile and internet banking.’

Sheena Maddrell, business development manager for Global Yacht Crew at Standard Bank, said: ’We are a leader in providing banking services for yacht crew so this exciting development for our IFA/Introducer network will be welcome worldwide.

’Last year, we launched an online application channel for the Seafarer Account, which has greatly improved the client experience during the account opening end-to-end process. This is the next stage of our commitment to digitise as many services as possible, which is in response to client demand and expectations.

’The Seafarer Account has been hugely popular since it was launched in September 2013.

’The global yacht market is growing exponentially so there is increased demand from crew for an account that is perfectly suited to their globetrotting lives.’