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Bankers, ECCB Governor Discuss Ease Of Opening Accounts

The Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, and representatives of the Bankers Association of Saint Lucia Inc. met recently to discuss key banking sector issues.

Bankers Association President Samuel Agiste headed the local delegation to the talks.

An Association release said the ECCB Governor raised the need to improve the ease of opening bank accounts, especially for unbanked individuals, as a key concern.

He indicated that the issue had featured prominently in his many discussions with various stakeholders prior to meeting with the Bankers.

“The Bankers acknowledged this and also disclosed that most financial institutions have now eased the requirement and are accepting one piece of identification,” the Bankers Association release noted.

It also said Governor Antoine encouraged the Bankers to engage more in public education and customer engagement on ‘this topical issue’ and other developments affecting customers.

The Citizenship by Investment Programme (CIP) was another critical topic of discussion.

According to the Bankers Association, the Governor outlined
the ECCB’s role in advocating for the integrity and sustainability of these programmes, including the appointment of a separate regional regulator for the CIP.

The Bankers Association release said the organisation acknowledged the importance of this programme in attracting foreign investment and emphasised the need for robust oversight to maintain its credibility.

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7 COMMENTS

  1. Thenclosed bank accounts should be reopened I nce people put back money in there. And people should be warned about the closing of their accounts in advance.

  2. This is a tragedy trying to open an account. I find the credit union the only institution that treats you like a human being.

    Tired of the lines, the lack of respect. After all the bank makes money off of us, why make it so darn time consuming and difficult.

  3. Gosh opening an account her is such a nightmare. Its almost like the bank is encouraging you not to. Don’t even attempt to do so at 1st Caribbean. And whats with the utility bills. Most people don’t have a bill in their name. Why isn’t your national ID enough. Imagine a home with 2 parents and 3 young adult children. Should all of them have utility bills in their names?

  4. Banks here impossible here , other countries with passport , work permit and your employer letter enough to open an account. Saint Lucia they ask utility bill to long list . Lucian bank don’t need our money they try to make complicated the process and forigners has tough time. Also wore transfer fee is very high here .

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