0

NIB and RBC difficulties

EDITOR, The Tribune.

I would appreciate you printing this letter with regards to NIB payments paid into RBC accounts that are not able to be accessed by former residents now living outside of The Bahamas. I hope that it could appear on a Monday or Thursday edition.

Mr KIM SMITH

Nassau,

September, 2017.

EDITOR, The Tribune.

RBC HAS TO FIND A SOLUTION

PLEASE allow me space in your newspaper to share something that is happening to three former residents who I know living in three different countries.

All three former residents have been clients of RBC for a combined 55 plus years. All three former residents have their NIB pension payments paid into their respective RBC accounts, however since early 2017, RBC updated their client card to a debit card.

This is great for people who live in The Bahamas, however, for the three people I am writing on behalf of, they have not been able to access their local RBC accounts for nearly six (6) months now. One of these former residents lives on a basic monthly budget of $1,000 per month and relies heavily on the additional income from NIB to survive.

This is a grave concern for former residents living outside of The Bahamas who cannot access their RBC accounts which was so easily done in the past.

Hopefully somebody in upper level management at RBC will have read this letter and will formulate procedures as to how the three former residents and others in the same situation will be able to have full access to their funds.

I, too, am approaching the age of 65 and might one day find myself in the same situation.

MR KIM SMITH

Nassau,

September 1, 2017.

Comments

Bocaland 6 years, 9 months ago

Add another angry account holder? to the reprehensible RBC banking fiasco! In November RBC mailed a paper statement dated 12 October with a simple line notation "DEBIT OVERIDE A" which conveniently exactly mirrored the account balance effectively removing every cent from that account (but after pointedly removing their $5 service charges for September and October PLUS an additional "STMT COPY CHARGE" for another $5 (where it went is an unexplained mystery!) Additionally, they returned payments to NIB noting to them that the account was closed. This account represented the entire retirement benefit for my wife and myself as received from National Insurance and they have quite unapologetically appropriated every penny! My attempts to e-mail any living person at RBC as well as have even one of my numerous calls answered or returned have been fruitless. Larcenous conduct such as this will certainly be eagerly reported by international financial sources and could prove disastrous to the Bahamas' reputation for banking stability. Hopefully RBC will reach out and offer a solution to myself and all the others equally affected before the situation does irreparable national harm.

Sign in to comment