Page last updated at 14:32 GMT, Saturday, 11 October 2008 15:32 UK

Is our cash safe? Your stories

Paul Lewis, from the BBC's Moneybox programme, explains the latest events

It has been a dramatic week for the UK and global economies.

A Treasury delegation is in Reykjavik for talks to resolve the dispute over frozen UK investments held in failed Icelandic banks.

But for some people, this is not enough reassurance. BBC website readers have been sharing their concerns about money saved in Guernsey bank accounts.


The Wright family. Photo: Tim Wright
We sold our house in Cardiff so I had money to put away into savings.

I chose an account in the Isle of Man, and as we were in Guernsey I thought I'd support the financial services here and invest 10,000 in fixed rate bonds with Landsbanki Guernsey.

Well, the situation with the two accounts couldn't be more different at the moment.

The Isle of Man authority has been very reassuring while help from Guernsey has been non-existent.

It's almost as if they have their heads buried in the sand.

I have withdrawn 35,000 from an account with Scarborough in Guernsey as there's a complete absence of any guarantee, so I just can't risk it.

I feel so sorry about that but there is no security.

It's a great worry. They should reassure people that their money is safe, but I do feel that the reputation of Guernsey branches will suffer as people take their savings elsewhere.


I've got around 20,000 saved in the Guernsey bank so it is a very anxious time for me.

The bank was put into administration on Monday night and since then I haven't heard a great deal. There have been a couple of updates on the website but not a huge amount of information.

It seems to have become further complicated by the Treasury stepping in.

The Treasury is saying that because the branch is in Guernsey it has no responsibility for the accounts held there, and the Guernsey authority is not doing anything either.

There is a great deal of anxiety. To think that someone can just take away all your hard-earned savings.

I live in the UK, I'm a tax payer, but I feel like I, and around 2,000 other savers, are slipping through the cracks.


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