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CTUSAB joins attack on bank fees


Kendy

CTUSAB joins attack on bank fees
CTUSAB president Edwin O’Neal warns that if left unchecked, Barbadians could see their savings wiped out over time from just fees alone.(Picture by Shanice King.)

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The Congress of Trade Unions and Staff Associations of Barbados (CTUSAB) has joined the recent throng of criticism against the banking sector over high service fees and other protocols.

General secretary Dennis De Peiza lamented that customers were now limited to a $50 minimum withdrawal from automatic teller machines (ATMs) and also criticised the policy of customers without an account being denied the ability to cash a cheque at a bank where the cheque payable is lodged.

“We are sending some very serious mixed signals to the public. We have championed the cause of the ease of doing business, we have spoken to the empowerment of people, we have spoken to the enfranchisement of people, but the behaviour of the banking sector seems to be running contrary to all of that.

“We have a situation where poor people in this country, the average Joe, who has to go to an ATM to withdraw any sum of money, are not only being charged some ridiculous fees but also being told that they can withdraw a minimum of $50. This means that if you want $60, then you better take a hundred,” De Peiza said. (CLM)

 

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