Reintroduction Of Ovaltine Tin Banking
Banking has become so hard for the majority of poor and not so educated people, vendors and just ordinary people depositing money and withdrawing money from their accounts that hoarding money in their OVALTINE tin or under the mattress is becoming the only solution.
Some banks charge $20.00 if you deposit or withdraw cash! Some have stopped dealing cash through people, so if you are not digital you are no longer served.
The laws state that banks must return cancelled cheques, but with banks going digital even when they bounce you cheques neither you nor the receiver are aware unless you are on line, which everyone is expected to be whether digitally literate or not.
Are the banks ready to lose their faithful savings accounts of the many small people, whose savings the banks then lend to the business customers who do not look like their small depositors?
Oppression by those who control world finances has forced international banks to abandon the small islands of the region while they continue to grow their wealth in the MDCs (Trinidad/Guyana/Barbados/Jamaica).
Now the oppression of FATCA on the islands claiming risk of illegal monetary transactions within our banking systems we are being further oppressed by our banks seeking to add extra charges.
More persons will resort to hoarding their hard-earned dollars instead of using the safety of banking which is becoming expensive.
The crime wave of breaking and entering, robbing people in their homes and businesses will become more unbearable, when vendors and other small operators will begin to shun the bank, because of extra charges.
The Community Banks need to spread themselves throughout the communities in Antigua offering their services to the small operators and the people who cannot afford the banks.
The Unions need to invest more in establishing services for their members, challenging the banks to beef up their services, and cut down on their charges on the poor and small man.
The entire monetary system in our region needs a shake-up, a lot more that the current CDB and ECCB and the Monetary Councils are requiring be done in the Customer Service Sector. Customer service must include a cease and desist from using usury measures against unassuming poor people!
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Why are the banks are shooting themselves in the foot? Having they not heard of crypto and why is it so difficult to open a bank account.
Banking will be much easier and a lot cheaper when they switch over to the ISO 20022 mandate. Are they preparing for this? I guess the share holders are trying to get what they can now before the switch is flipped.
I can agree, and the ovaltine container does sound really good at this time.
These issues are self created. The financial sector and by the extension The Government of Antigua and Barbuda are 100 percent responsible.
The country’s monetary system does not pass the international test. With all the laws and amendments that have followed since 1994. No reciprocity with any international bank exist with Antigua and Barbuda financial institutions.
For the record. They have all abandoned the financial landscape. Hopefully the Ministry of Finance and the know it all up there will educate us after this article(wanna dem mus a rite um) and commentaries!
wat about MILO? taste wayyyy betta than ovaltine bai
If the Banks are giving you problems. Put your monies into zip lock bags and into your freezers.
what about garbage bags and put in mattress???
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