The Co-operative bank in Guernsey is getting rid of its offshore customers.
People with fixed-rate savings bonds with Co-operative Bank's Guernsey branch are now having their accounts closed and their money returned.
In August, the bank said it was to close its branch in Guernsey as part of a programme to “simplify the business”.
Now customers have begun to receive letters asking them to close their accounts and remove their money.
The Guernsey Co-op stopped paying interest on savings on 22 November.
Variable-rate savings accounts are also being closed down. Those with current accounts have until next month to move.
The Co-op is not alone in leaving the offshore market. Clydesdale International and Bank of Ireland have gone before them in this year.
Since the collapse of Lehman Brothers, the offshore market has tightened, and there are now only a few banks still providing offshore services.
