Many bankrupt or formerly bankrupt people, especially from the UK often look to Gibraltar and the Channel Islands for hassle free banking off the radar. (Not in Guernsey Banks any more obviously)
We at “Real Deal” allowed this article on our site to inform and warn anyone who is comtemplating such an offshore route, to avoid the Jyske Bank at 76 Main Street, PO Box 143, Gibraltar.
I shall relate some of my experiences with them. I have had an account with the Jyske Gibraltar Offshore for about 6 years. Today I closed it in disgust. Their catalogue of failures has been incredible, overcharging, late or non arrival of statements, no internet access to the accounts, (in this day and age? Come on!) totally incompetant staff, staff who lose paperwork, staff who deny receipt of documents until you provide DHL tracking data then they ‘find’ them, staff who claim to speak English who actually dont, late chequebooks, implementation of KYC paperwork took over one year! Best of all, rather than deal with customer complaints they simply ignore e mails. If you call with a complaint, you are on hold until you give up. I ended up writing to the CEO Anders Dam in Denmark with copies of e mails that were laughable in content demostrating the true incompetance of his staff. He didnt reply either, nor did customer complaints in Denmark by e mail. The whole bank is a complete and total shambles and I hope I save someone the trouble I had by writing this little review.
The offshore route is often the path to less financial scrutiny, and usually it works when one confines oneself to respectable banking centres like The Channel Islands (not Guernsey of course), the Isle of Man and Gibraltar (which have the added advantage of being on the UK banking sort code circuits allowing BACS and other stuff we like)
The Jyske Bank is not a tin pot outfit on the whole, it is a major player in Denmark and has brances in London, Switzerland, Sweden and other highly regulated financial centres, it is regarded as a forward thinking bank that will take a different approach. It is well known for financing overseas mortgages for international types irrespective of status in your homeland.
However, a six year relationship with the Jyske Bank in Gibraltar has left me with a sour taste in my mouth more and more as time progressed. A few mistakes can happen anywhere, one expects to overlook minor errors in the whole scheme of things. However, when the failings are repeated and monumental in the scale of what I have experienced and indeed only touched upon here, it is time any other unsuspecting clients or potential clients of Jyske Bank Gibraltar get to find out about it.