Jersey's government plans to give credit reference agencies access to islanders' data

Jersey's government is proposing giving credit agencies access to its database of islanders' details to improve the odds of card applications being accepted. Credit: PA

Jersey's government is proposing giving credit reference agencies access to its central database of islanders' details to improve the likelihood of credit card applications being accepted.

It comes after the Channel Islands' lack of a joined-up register was cited by the Jersey Consumer Council as one of the likely reasons islanders have struggled to be accepted for financial products from lenders in the UK.

Residents in the Crown Dependencies - the Channel Islands and the Isle of Man - have been denied loans, credit cards and other services from UK lenders since new ring-fencing laws came into force in 2019, requiring finance firms to keep their British and offshore operations separate.

The Government of Jersey is proposing opening its "People Directory" - an internal database of all local residents - up to external credit reference agencies so information about applicants' identities can be cross-checked, similar to how the electoral register is used in the UK.

Deputy Elaine Millar, one of the ministers responsible for financial services, says the change should help islanders who previously fell foul of automated credit checks:

"Over the past five years, there has been a withdrawal of credit card providers from Jersey. This proposal is a great step forward and should allow more banks and other financial services providers to offer credit to individuals and businesses in Jersey."

Assistant Chief Minister, Deputy Elaine Millar, hopes the change will improve access to loans and credit cards for islanders. Credit: ITV Channel

She added: "We are asking islanders to provide [the] government with their feedback on this proposal and, if enacted, we hope this should remove some of the known hurdles to banks and card service providers offering products such as credit cards.

"We hope that banks, loan companies and credit card providers will recognise this and provide a full range of services for islanders."

JCC chairman Carl Walker has been calling for the government to take action. He said: "The Jersey Consumer Council has been campaigning tirelessly on behalf of islanders on this issue since it first became apparent there was a problem in 2020.

"More than 800 consumers completed our survey, the findings from which we passed on to the new government, who then promised action.

"It seems that we now have a solution on the horizon and we can only hope the necessary changes to any laws are made quickly and efficiently before any more credit issues arise."

The government is currently running a consultation to allow finance firms and islanders to have their say on the proposed changes.

If approved, ministers hope the database will be available for credit checks from 2024.

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