I am a depsitor with Landsbanki Guernsey - £50k which was the proceeds of sale of my house in the UK. This money was put away for a rainy day offshore given that I could not save in the UK as I was no longer resident. I had indeed moved to reside in Cyprus with a possible view to starting a business in 2009 or possibly buy a house. I already lost £30k in the reduction sale value of my house in a failing property market.
I had the bulk of my savings in Landsbanki, including what my grandfather left me when he passed away. Not only have I lost my savings but his as well. He worked hard all his life, and so have I, now it has been taken away. I am not a big earner this year I earnt $27k. The Inland Revenue assessed my situation and I have no liabilities to them, so I am not a tax-dodger. Not having a pension plan I am relying on my Landsbanki savings for my retirement, now it looks like I will never be retiring.
As a 61 year old British woman, I grew up with the ethos of saving passed to me by Scottish parents who lived through WW1 and WW2, as well as the depressions of 1918 and 1929. My mistake was trying to maximize my income with bonds staggered over several years and choosing Guernsey, instead of the stock market.
I was born in the UK. When the UK building society found I was no longer a UK resident, I was forced to withdraw my savings. (I had earnt this money whilst a UK resident and was paying tax on the interest to the UK government). As I thought I might one day return to my homeland, I wanted to keep these savings in sterling. The only option I could see was to place these funds offshore. And that is how the UK law and government helped me lose my savings in this crisis.
I am a retired civil servant. I moved to Malta on health grounds. Icesave told me I had to move my savings. So I did! I am devastated by the loss. Like many of us I am not rich. I have always paid all my taxes. Like all retired civil servants, no matter where in the world we live, my civil service pension is taxed at source in the UK. The future at the moment is indeed bleak!
Some news reports make international depositors sound solely like tax evaders. In our case it is because of a long Guernsey history. My grandparents were Guernsey folk who remained in Guernsey throughout the war. The money in the account represented inheritance from my grandfather, who started work at age 12 and went on to be a Guernsey store owner, tomato grower and businessman.
I am a very proud British citizen, and since I was 15 years old have worked legitimately starting as a “Hammer Boy” in a foundry on a salary of £4-11s-11d, and although then could not save a penny because I gave it ALL to my mother after tax & NHS contributions for my first year. Since then I have continued my working career almost non stop for nearly 40 years, working 60-84 hours a week for most of them to save & care for my family.
Having been relieved of an earlier pension pot by a light fingered Broker, I have now lost a second (and final) one due to light fingered Bankers
My father left me some money which I invested in Cheshire and Guernsey in view as to using this money to help fund my daughters going to University. I don't know how we're going to manage now as we were depending on this money.
I banked with Cheshire Guernsey for close to seven years. I didn't ask for Landsbanki to take over my deposits. Monies generated from the sale of my flat in London in 2000 - sold because I had to have money in the bank in order to secure my American company work visa.