by Kevon Browne
St. Kitts and Nevis (WINN) – Changes are coming to Bank of Nevis Ltd (BON) this weekend, and Chad Allen, Head of Operations of BON Ltd on St. Kitts, came to address the public on those changes during the September 8 broadcast of Island Tea with host Azem Bailey.
The changes are expected to cause some service interruption. Bank of Nevis is also implementing new compliance measures, adding Bank of America to its list of corresponding international banks. This step is designed to improve turnaround time for US bank account holders.
“The Bank of Nevis is pleased to advise that we have recently added the Bank of America to our list of corresponding banks,” shared Allen.
“Clients will therefore now have the ability to deposit your foreign US dollar checks, request US drafts, and also experience quicker turnaround time when sending wires, and so forth.”
Pheon Jones, the Marketing Officer for BON Ltd, added further detail about the significance “And just to add, we didn’t speak in relation to the quick turn around for [US] checks, usually in other institutions and they get six weeks, and ours is ten.”
Outside of the Bank of America becoming a corresponding bank, there are additional changes because of the conversion of accounts and some interruptions in some services are expected during this weekend (Sept. 11- 12).
“So clients will experience some interruption in service during this conversion weekend. And this will include some of the following areas: Our ATMs will be down. As a matter of fact, they’ll be down from the afternoon of September 10. So that’s Friday afternoon after 5 p.m., Saturday, Sunday. We’ll also see downtime in terms of our point of sale machines, our mobile, as well as online banking.”
This interruption stems from the official transitioning of old Royal Bank of Canada (RBC) and Royal Bank of Trinidad and Tobago (RBTT) accounts to BON Ltd accounts.
Allen and Jones advise that BON ltd customers should have adequate cash in hand that weekend for this transition weekend as both existing BON Ltd customers and former RBC and RBTT customers will experience interruptions.
“The conversion is going to affect the former RBC and RBTT customers, but there will be periodic interruptions for original Bank of Nevis customers because the systems are converting. So you know, once in a while, something may go down for a bit. But we’re trying our best, [and] will have resources and the ground. As he did mention, Chad Allen, the manager for St Kitts… we want you to have adequate cash because as of 5 p.m. on that Friday, the ATMs that were [formerly] RBC and RBTT will be done.”
To find out more about what else is happening at BON Ltd, you can watch the full interview with BON Ltd here: