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MD Says: Bank On BOSL To Honour All Genuine Cheques!

Image: Bank of Saint Lucia building on Bridge Street. [PHOTO: Stan Bishop]

ANOTHER local commercial bank has indicated it will not follow the route of those not honouring cheques made payable to non-account holders.

Bank of Saint Lucia’s Managing Director, Bernard La Corbinière, says his bank isn’t taking this matter lightly.

According to the BOSL MD, “Bank of Saint Lucia takes the matter of honouring cheques very seriously and continues to cash cheques for non-account holders at all five branches, island-wide.”

He noted that “The Bank invests significantly in new convenience banking services, as well as traditional banking services, to make it easier for our customers.”

He continued, “With the introduction of a number of new payment methods, including Electronic Funds Transfer, the bank recognizes that cheques still form an essential part of day-to-day business for many customers.”

La Corbiniere, who is also a former Managing Director of the Saint Lucia Development Bank (SLDB), said: “The Bank remains committed in this regard to honour all genuine BOSL cheque transactions — genuine in the sense that the cheque is completed correctly including date, payee and sum; sufficient available funds on the account from which the funds are being drawn; and appropriate authorized signatures.”

BOSL customers are also reminded that valid picture identification is a key requirement for the cashing of cheques.

According to the BOSL MD, “Banks in the region continue to move towards paperless transactions. However, cheques will continue to be honoured until such time that there is a seamless transition from traditional methods to new technologies.”

A fortnight ago, 1st National bank became the first to indicate it would not dishonour cheques made to non-account holders.

Other banks approached by The VOICE have so far declined to state their positions, opting instead to await a statement promised two weeks ago by the President of the Bankers Association Mrs Wendy Delmar.

Several attempts have been made by The VOICE to contact the President at Scotiabank, but to no avail.

Last week, The VOICE was informed that the president had proceeded on vacation.

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