Imagine that you put all your life savings into a bank, perhaps even the proceeds from the sale of your house, for safe keeping and one morning you woke up to the nightmare news that the bank had closed its doors and you couldn’t have your money. On October 8th 2008, that’s exactly what happened to many savers with KSF on the Isle of Man.
Some of us lost pensions, some our life savings, some the working capital from our businesses. Many of us are British citizens living/working abroad and so forced to use an "off-shore" savings account due to banks' refusal to allow non-residents to open accounts on the mainland. "Our savings accounts are available to people aged 18 or over who are living permanently in the UK" (ING Direct Web Saver Account Terms and Conditions.)
For a brief summary of our situation and background information, please read our FAQ.
Our objective remains the 100% return of all KSFIoM Depositors' funds.