Bank ‘squeeze’

Article by Shawn Cumberbatch

Commercial bank fees have become so burdensome that a leading supermarket proprietor says food merchants “will have no choice” but to pass the cost on to consumers.

A1 Supermarkets managing director Andrew Bynoe issued the warning as Barbados Chamber of Commerce & Industry (BCCI) said it was receiving more complaints from the business community about higher bank charges.

“We have to advise our customers that banks are now charging us increased fees, and new fees in some instances for depositing money, processing cheques, fees for supplying coins, increased night deposit fees. Every transaction is a fee, including credit and debit card fees,” said Bynoe, who operates Carlton Supermarket in Black Rock, St Michael, and Emerald City, at Six Roads, St Philip. (SC)

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