More Islanders Denied Bank Accounts

12th July 2018

More than 900 islanders are now relying on Community Savings to look after their finances.

The charity provides accounts for people who may have been black-listed by high-street banks, with a big increase over the last 18 months.

It’s received 71 account applications so far this year and had 150 new members in 2017.

Outside the Community Savings Office on Commercial Street

Most modern bill or wage payments require a bank account, meaning people already in financial difficulties face further problems. The charity works to ensure everyone has access to these basic services.

Guy Le Maistre from Community Savings says even people who previously had bank accounts are being affected:

“In recent years, we’ve seen an account verification programme amongst high-street banks, where even long-standing customers were being asked to re-confirm and validate all their details. It was sort of a ‘weeding out’ process, furthering the gap between the ‘haves’ and the ‘have-nots’.”

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