From David Gainsborough Roberts.
I WAS very surprised to read that there is no protection of depositors’ money in Jersey banks. Can this be true? The
Island’s main economy is finance and we have no protection authority?

Surely depositors would be advised to take their money out of the Island’s banks and deposit them in the UK, where they are protected.

For some years now I have been worried over the attitude towards bank depositors. I cannot afford to lose my capital and that is why I put it in the bank. For years I have received a derisory return on my capital, but at least I thought my money was safe. I cannot afford to gamble on the stock market or deal in property, but it seems I lose everywhere I go.

Recently I asked my bank to return my capital and I would bring it home and place it in my safe as the returns, after tax, were actually costing me money after paying the accountants. I was informed that should I take such an action I would be reported to the authorities as a potential mafia-type drug dealer.

At another bank I asked for the manager’s name, as I was not satisfied with the service I was getting. I was told that staff did not give out the manager’s name and, anyway, I would only be referred back to that department.
Can this really be the same Island my late father invested so heavily in nearly half a
century ago?
Rochemont,
Les Ruisseaux,
St Brelade.