Joseph Schembri, Birżebbuġa
Savings down the drain
I fully agree with Bernardette Cachia’s judicial protest (Widow Holds Church Bank Responsible For Her Losses, February 9).
I have had the same experience with this bank and the ensuing ordeal. APS Bank acted as broker for Sparkasse Bank Malta Ltd with a disastrous outcome as far as I am concerned.
This particular product was marketed as “capital guaranteed” and after its collapse there was nothing reimbursed. Not one penny was repaid and no explanation as to why. Just a huge loss of savings, which is utterly disgraceful.
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John Azzopoardi
Feb 22nd, 12:29
If people who don't have a lot of money want their money to be protected, they should never invest in these exotic investments. STick to a bank account and also hold your money in different banks. In life, nothing is for free and there is no such thing as guaranteed. Even life is not guaranteed.
Liam Kelly
Feb 23rd, 07:26
Stick to a bank account ? Good advice; i've heard the interest rates these days are awesome!