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Businesses across Guernsey, Jersey and the Isle of Man face gaps in digital banking that Innovate Guernsey says hinder their ability to compete. The organization launched the Crown Dependencies Digital Banking Survey after firms reported problems accessing accounts and payment platforms. It aims to gather evidence that could persuade providers to expand services across the three islands.
Innovate Guernsey said some banking and payment providers serve UK companies but offer island businesses fewer options. Chair Susan Watson said the survey seeks to demonstrate the combined size of the market those providers overlook. The organization wants firms and advisers to explain the barriers they encounter and describe how those restrictions affect their daily operations.
Watson described business banking, online card payments and digital finance tools as essential services for running a company. She said limited access costs businesses time and money. It can also encourage founders to establish companies elsewhere. According to Watson, repeated concerns from Guernsey’s innovation community prompted the survey and its wider focus across the Crown Dependencies.
She cited Revolut and Stripe as examples of digital providers that do not serve island businesses on the same terms as companies elsewhere. A Guernsey company may lack access to a service that a UK competitor can open within minutes, she said. What impact do these barriers have on businesses trying to start, operate and grow?
The questionnaire asks businesses and advisers to identify difficulties accessing banking, payment and other financial services. It also seeks details about the effects on their operations. Innovate Guernsey hopes responses from all three islands will provide measurable evidence for discussions with providers. Watson said a shared assessment offers a stronger basis for seeking wider service availability.
Small businesses have also reported problems finding providers willing to process card payments. According to Innovate Guernsey, their complaints center on access and cost. Firms must first find a company that serves their jurisdiction. They then face the fees attached to that service. These concerns cover payments at physical premises and purchases through business websites.
The independent, confidential survey takes approximately five minutes to complete, according to the organization. Guernsey’s Chamber of Commerce has encouraged businesses to participate and help establish the scale of demand. The findings will support talks with financial companies. Innovate Guernsey wants the evidence to help secure a place for the islands in providers’ future development plans.
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Banking access has caused concern in Guernsey before. In February 2024, the Guernsey Press reported that Starling Bank had started notifying some island businesses about account closures. Customers needed their main business interest in the United Kingdom to retain their accounts. The bank confirmed that its business account terms required customers to meet that condition.
Diane de Garis, then president of the Chamber of Commerce, criticized the limited alternatives available to local companies. That dispute concerned access to existing accounts rather than applications alone. It also showed how a company’s main place of business could affect eligibility. The current survey covers a wider range of banking services, payment access and related costs.
Meanwhile, earlier feedback identified other obstacles facing entrepreneurs. In March 2026, Watson said early-stage businesses faced excessive friction. Local businesspeople and investors cited company formation costs, compliance requirements for nonregulated firms and unavailable products such as Stripe. Watson said Innovate Guernsey needed to prioritize those problems because it had limited resources available to address the barriers.
Innovate Guernsey seeks evidence about banking restrictions and payment costs across the Crown Dependencies. The survey will support discussions with providers about expanding access. Businesses and advisers can contribute their experiences to help document demand and explain how current barriers affect their operations.