THE TIEFING BANKS IN THE BAHAMAS
The photo above comes from a notice sent out by Scotiabank, one of the clearing house banks in The Bahamas. The notice is self-explanatory. If you want less than 1500 dollars you have to go to the bank machine. Don’t bother the teller with that pittance. Immediately people started talking about the problems of senior citizens and the new rule. The bank doesn’t give a crap about that. Nor does any other bank in this country. They are all charging fees which we believe are usury. Each deposit Royal Bank takes money out of our money to keep your money. Each month CIBC takes money out of your money to keep your money. Each month you earn no interest in your saving account but the banks keep tiefing your money. The government does nothing. The Central Bank does nothing. The PLP complains as it must. There is no consumer protection or advocacy going on as these banks continue to charge high fees, the service deteriorates and they rip off their clients as they call them day after day. The one refuge for your money was the Web Shops, now the Government proposes to start tiefing that too. Each deposit will require five per cent to go to the Government on withdrawal and deposit. Poor people can’t win.