We put our pension fund savings with Cheshire Guernsey because we were told it was safe and were told our pension fund savings would remain safe when Cheshire Guernsey became Landsbanki Guernsey.
My wife and I, having been born in Guernsey, with grandparents who worked in the growing industry, were certainly not born with silver spoons in our mouths, but through no fault of our own have unfortunately been caught up in the Landsbanki fiasco.
I am lady of 73, still working part time. I was born in the UK and lived there for 66 years. I moved here to marry a Channel Islander, not to avoid tax.
Until Landsbanki Guernsey Ltd. went into Administration, I was hoping to retire very soon and concentrate on my voluntary work. I have nearly £50,000 at risk – a substantial part of my savings. I was not born with a silver spoon – I worked hard for all of it.
I am Guernsey, born and bred, and have worked extremely hard to try and live within my means and keep out of debt.
I opened my account with Cheshire Guernsey Limited quite a few years ago. Having had insurance companies which have changed their name several times over the course of their lives, I thought no more about it when I got this letter in 2006 saying that the bank was changing to Landsbanki Guernsey Limited. After all, it was a Guernsey company, run in Guernsey, regulated in Guernsey and paying tax to Guernsey, so no problem...?
John and Jane are Landsbanki depositors from St. Peter Port, and this is their story;
Neither John nor Jane came from wealthy backgrounds; their parents were ordinary Guernsey folk who instilled a strong work ethic in their children.
The money that I saved in Landsbanki was inherited from my parents following the sale of my father’s house when he passed away. It represented many years of hard work for them – they were both of a generation who left school at 14 and then worked hard for the rest of their lives.
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.
I am a 97 year-old depositor and I live alone in my own home, where I have lived for 53 years. I couldn’t believe what was happening when I read in the Guernsey Press that my bank, Landsbanki, had gone into administration, as I had always thought that Guernsey was a safe place to put your money. All of my life savings were in the Bank.
I have always believed in Building Societies, I can remember as a child going with my mother every Saturday with our passbook into the local office in Nantwich, and that has stayed with me throughout my adult life; whenever possible I would try to put some savings away.