Dear Editor,

It is with profound disdain and more than slight annoyance that I put these words together on an issue that became clear to me recently.

I visited the Scotiabank branch in Santa Cruz recently to negotiate a cheque drawn on an account held at that institution with the intention to receive cash amounting to the face value of the said banking instrument.

Upon entering the banking hall I was approached by a female representative who enquired as to my business and how she could possibly assist. I responded by stating my intended business. To my utter shock the young lady replied that the bank had ceased negotiating local cheques over the counter and that the only way for me to get the monetary value was to visit the automatic banking machine (ABM) and deposit same using an associated debit card.

This, obviously, is a service for account holders at Scotiabank. I hasten to mention that I discontinued my association with this institution years ago because of policies I found to be of no benefit to me.

I then questioned the female employee as to what was the recourse for someone without an account at the institution. To this query she replied with a bemused look and a shrug of the shoulders. I further enquired as to when this policy came into effect, to which she replied that it has been so for over a year now. This was quite a big surprise to me.

My frustration was further compounded by the fact that one of the security officers rudely insisted that I remove my sunglasses, which I did, reluctantly, to avoid escalating what was already an exasperating and befuddling scenario.

What further raised my ire was the statement that came next from the female employee. She proceeded to advise me that had the cheque been one of Canadian origin then it would have been dealt with by one of the tellers standing mere metres away. This absolutely took me out at the knees. Needless to say, I left the institution greatly annoyed and in a state of shock, mentioning to her while leaving that this is why I would never seek another account with Scotiabank ever again.

Banks are private institutions and I get that they make policies that suit their operations as they see fit. But to refuse to negotiate a cheque in your institution’s name, drawn on a local account, yet be willing to deal with one of foreign origin, similarly drawn on your bank, is to me quite ludicrous.

As a Jamaican who has witnessed banking policies change drastically over the years so that a savings account is of no financial benefit to the account holder I feel insulted enough without having to endure the barefaced audacity of these institutions.

High fees charged to negotiate cheques, fees to do basically everything associated with our accounts, the closing of branches in convenient locations that force us to travel great distances, in many cases, to do business with these institutions, and many other issues show the scant regard these mega-rich peddlers of financial wizardry have for the people who do business with them on a daily basis.

And, with successive governments refusing to do much to temper the rampant manner in which these money-consuming pits function, one is left to ponder whether greener pastures in other spheres aren’t a more suitable option as we simultaneously patronise the warmth but no interest-bearing safety of our mattresses.

Tycon Allwood

travel.allwood@gmail.com