Financial Inclusion in Jersey: Key Insights from the Policy Centre discussion

The Policy Centre Jersey hosted a discussion meeting on financial inclusion on 28 May 2026, bringing together around 30 participants from business, charities, government, the States Assembly and the wider community. The session was chaired by Senior Adviser Kate Wright and featured opening remarks from Graham Mott (LINK), Stephen Reilly (Community Savings) and Tony Moretta (Digital Jersey), followed by an open discussion.

The conversation highlighted the complex and evolving nature of financial inclusion in Jersey, touching on cash access, digital capability, banking barriers, and the wider social challenges that shape people’s financial resilience.

Financial exclusion remains a significant challenge

Financial exclusion affects a wide range of islanders, including those with poor credit histories, people leaving prison, low‑income households, and victims of domestic or financial abuse. Once excluded, individuals often struggle to re‑enter the mainstream banking system.

Digital exclusion and financial exclusion increasingly overlap

As financial services move online, digital capability has become essential. Yet digital literacy varies widely across the island, and Jersey does not currently have a digital inclusion strategy. Speakers noted that people who are not digitally connected are disadvantaged not only in banking but also in healthcare and other public services. The transient workforce also faces barriers to opening bank accounts.

Cash use is declining, but remains vital for many

LINK data shows that while cash usage continues to fall, around 15% of people still prefer to use cash, often for budgeting or accessibility reasons. Some groups—including older islanders, low‑income households and deaf islanders—rely heavily on cash. Although many retailers are moving towards card‑only payments, most will still accept cash when needed. Cash can provide resilience when digital systems fail, though this is not guaranteed if tills or payment systems rely on electricity.

Community Savings fills gaps that mainstream banking cannot

Community Savings plays a crucial role in supporting those excluded from traditional banking, offering basic accounts, prepaid cards, budgeting support, emergency loans and rehabilitation work with HMP La Moye. Five banks support the charity, recognising that it provides services they cannot offer under current regulatory constraints. Participants suggested that regulatory reform could enable banks to serve vulnerable customers more effectively.

Education, skills and financial resilience are essential for long‑term progress

The discussion highlighted significant variation in financial literacy among young people, with many leaving school without basic knowledge of budgeting or saving. Low‑income households often lack financial resilience, making them vulnerable to shocks. Participants stressed the importance of improving financial education, building digital confidence, and ensuring that support systems are accessible and responsive.

Looking ahead

The discussion underscored the need for a coordinated approach to financial inclusion—one that recognises the interplay between cash access, digital capability, banking regulation, and wider social factors. As Jersey continues to modernise its financial and public services, ensuring that no one is left behind will require collaboration across government, industry, charities and the community.

The Policy Centre will continue to explore these issues and support evidence‑based discussion on how Jersey can build a more inclusive financial system.

A full note of the discussion can be accessed here.