The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Andros Chamber of Commerce president yesterday asserted that “Scotiabank has forsaken us” amid ongoing struggles to access banking services after the area’s sole ATM was vandalised nine months ago.

Darin Bethel told Tribune Business that digital payments providers are the sold suppliers of banking services to the private sector in North and Central Andros with hope waning that the Scotiabank automated teller machine (ATM) will be repaired.

“Scotiabank has forsaken us,” said Mr Bethel. “Sun Cash is taking the lead and has been expanding tremendously throughout the community. They are all across Andros really. Sun Cash has been working hard to have services available in the area. They have been putting in new at new machines all over.

“Kanoo also has a presence here, and so the digital banking services, that’s what people are basically relying on.” Mr Bethel said the situation is reaching a “breaking point” as visitors to the island often voice frustration about lack of access to cash as they tour the destination.

He added that, just this week, a pilot from Freeport complained to him that doing business in Andros is “so hard” due to difficulties accessing cash and banking services.

“Just this week a pilot from Freeport was telling me it’s so difficult to conduct business in Andros. He said the state we are in is so sad because people have to go over to do business, or send sensitive things like ATM cards just to do their banking… and I agree… it is a sad state of affairs,” said Mr Bethel. He added that the only service Scotiabank currently offers to Andros is a deposit drop box for businesses.

The Andros Chamber chief said the commercial bank has “neglected” its responsibility to provide banking services to the community by failing to repair the sole ATM. “Scotiabank has neglected their duties and responsibilities as a bank. All they are doing now is collecting money from businesses,” said Mr Bethel.

“That’s the only service they’re providing; the cash drop box for businesses. They send people down three times a week to collect the money from the Dropbox, but they refuse to fix the ATM so people can make personal deposits and get cash.”

Mr Bethel argued that businesses face difficulties obtaining loans from Scotiabank as they have to travel to New Providence to meet with a representative there, so “obviously” the funds the bank is collecting from businesses in Andros are being spent in another district. He added that perhaps another banking institution would “be more inclined” to provide services to the area if Scotiabank discontinues “standing in the way”.

“They taking the money and using it in a different district, obviously, because they aren’t lending to anybody here. Nobody gets a chance to meet with them. If you want to see them you have to go to Nassau,” said Mr Bethel.

“Right now, they are standing in the way and not providing adequate service to the community. Maybe if they move altogether another banking institution would be more inclined to take the chance to come over.”

Commercial banks have progressively withdrawn from the Family Islands over the last ten to 15 years, citing the high operating costs and negative returns associated with maintaining a physical branch presence that results in them incurring losses.

The residents and business owners in North and Central Andros have voiced their frustration with the lack of banking services several times, noting that with the increased economic activity on the island commercial banks could make a return. Scotiabank representatives could not be reached for comment yesterday.