Banks Continue To Abuse The Bahamian People

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The latest is that Soctiabank now does not pay proper interest from having a savings account.  This is because the bank is flush with cash and cannot make any money because they won’t lend any money.  The result is the poor pensioners who keep these accounts make no money.  Lousy.  The Central Bank is simply silent.  There is no help f or consumers in this country.  Then you have the Royal Bank of Canada, who says that they are going digital and so started shutting down people’s bank accounts without so much as a by your leave. This was followed by an arbitrary policy that they would not cash cheques endorsed to third parties. The result is that a 90 year old in Long Island has to trek to the bank in person in order to get their pension cheques cashed.  This is unconscionable.  Again the Central Bank is silent like a lamb.  The PLP should vigorously attack these banks and the Central Bank for their abuse of Bahamian customers.