• Today
    February 19

  • 06:09 PM

Changes will leave elderly RBC clients in the lurch

NICHOLAS HEADLEY ,

Added 11 February 2018

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A Nation newspaper last month carried a story entitled RBC Shifting Into Digital Gear. This fundamental change will be implemented in Barbados from the second quarter. Have the many changes resulting from this action been explained to the customers or clients of the Royal Bank of Canada (RBC), especially the elderly folk?

Am I correct in understanding that clients will no longer be able to deposit cash or cheques with cashiers? And that withdrawing cash from cashiers will also no longer be possible? What is the position of those who have chequing accounts at the RBC?

I request that any commercial banks which will continue to offer the traditional services (cash or cheque deposit and withdrawal via human cashiers, chequing accounts) urgently make this information available to the public.

Digital and online services have their advantages. However, many people, especially some older folk, are not competent or comfortable with these methods, resulting in worry, stress, fraud and abuse.

The average citizen needs to be protected from some of their practices: little or no interest, payment for every activity, punishment for saving, and now a reduction in critical and essential services.

What is the role of the Central Bank in all this?

– NICHOLAS HEADLEY 

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