Letter: What is Republic Bank’s justification for this new policy?

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Republic Bank location at Triumph, East Coast Demerara

Dear Editor,

As if the many scandals and complaints from Guyanese about funds missing from their accounts were not enough(see articles https:// guyanatimesgy.com/republic-banks-visa-debit-cards-hacked/), the Trinidad and Tobago-owned Republic Bank is at it again.

[I had] ventured into the Camp and Robb Streets branch to change a cheque issued by the bank, and was informed by the teller that there is now a $1,500 charge attached to this service if you do not have an existing account with the bank.

Why are these overseas-based institutions allowed to impose such charges on hard-working Guyanese at their convenience? Where are the notices about this new policy? The teller informed me that this policy was put into place this week, but I was later informed that this is something that was started at the beginning of the month. When I enquired about public notices, the teller simply said, “It is out there”.

As at today, December 8, 2022, no notice has been placed on the bank’s website or Facebook page to give citizens a heads-up about this nonsensical policy, so where exactly were these notices placed? Where are these profits going?

Are Guyanese now being left to pay to keep other regional banks afloat? Are the Trinidad and Tobago holdings doing well? Is the money earned from such a policy going towards paying to cover the severance payments for the many staff that allegedly were and are still to be laid off from branches in the twin-island republic? What is their justification for this new policy?

Republic Bank, let me inform you that, contrary to your slogan, you are most definitely not the one for me!

Sincerely,
Janell Cameron