The Tribune

BY ANNELIA NIXON

TRIBUNE BUSINESS REPORTER

anixon@tribunemedia.net

SCOTIABANK has committed to resolving persistent ATM problems in Exuma, with the Deputy Prime Minister and MP for the island stating he will not be satisfied until the island’s machines are reliably operational.

Chester Cooper said he has been in “active dialogue” with Scotiabank chief executive Roger Archer over the island’s deteriorating banking access and is encouraged by recent movement from the bank.

“I’m satisfied that there is now some movement,” Mr Cooper said.

“I will not be happy until the ATMs are working clearly. The people of Exuma deserve better quality service than it’s getting from Scotiabank in particular.”

His comments follow Scotiabank’s announcement that it is working with a telecommunications provider to make alternative cash machines available in Exuma after public access to its ATM at Sandals Emerald Bay was restricted. The bank also said it was engaging Sandals Emerald Bay in an effort to reach an agreement over access to the ATM.

Mr Cooper said the issue is bigger than inconvenience for individual customers, arguing that reliable banking infrastructure is essential to economic activity on the island.

“Ultimately, banking is a key plank in the overall economy, and it’s really a service that’s not optional to economic development or development of the community,” he said. “Therefore, I’m happy that the powers that be are now alert to the problem and doing something about it.”

The problems have left residents and businesses dependent on a limited number of functioning machines. Scotiabank’s two other ATMs on Exuma had reportedly been out of service for months, while the restriction at Sandals further reduced access to cash.

For businesses, the lack of reliable ATM access can create practical difficulties, particularly for those that continue to rely heavily on cash transactions.

Perez Wright, owner of Pie-O’s Grill Pit, said he uses Scotiabank’s ATM to withdraw cash and pay his employees.

“It is sad that they would block access from locals for using their machine at the marina,” he said.

“We have one bank on this island and that barely is [working] half of the time,” he said. “That’s Royal Bank. Scotia, they have two machines but they don’t really work half of the time and they don’t have a bank actually here on the island anymore. They used to have it, but they pulled out. They just leave the machines here.”

Mr Wright said the distribution of banking services is also a concern, particularly for residents living in western Exuma. He said additional ATMs should be installed in the western part of the island, where many residents live, rather than concentrating banking access around Georgetown in eastern Great Exuma.

“That would be great if they could put some more cash machines around the island, especially in the west,” he said.

“All they have is everything in the east, and the majority of people who live on the island live in the west. The west starts from Moss Town and comes back to Barraterre and everybody have to ride all the way in Georgetown just to get stuff done, get cash and whatever else. I don’t understand that.”

However, the banking challenges in Great Exuma do not necessarily extend to all communities throughout the Exumas. David Hocher, owner of Staniel Cay Yacht Club, said businesses and residents in Staniel Cay have traditionally conducted much of their banking through Nassau rather than Great Exuma.

“We’re too far away for it to directly impact us,” Mr Hocher said. “We really aren’t impacted because whenever we need banking, most people in Staniel do so through Nassau,” he said. “The real story is we don’t have scheduled flights to Nassau. So, Staniel Cay people have always done their banking in Nassau and not Great Exuma, large majority.”

Scotiabank previously said a local telecommunications provider was assisting with efforts to make alternative ATMs available and provide customers with broader access to its banking services.

Mr Hocher’s comments highlight broader issues surrounding a lack of banking facilities on Family Islands.

Scotiabank did not identify the provider, specify where the alternative machines would be located or give a firm timeline for their deployment. Mr Cooper said he would continue to press for a concrete resolution.

“I’ve had that candid conversation, and I’m delighted that Mr Archer has made a definitive commitment to resolve the issue,” he said.