hotchick21

Hi all,
I really need some advice and assistance on this one... here goes.

So I opened what I thought was a Savings account back in the 90's when I used to visit Barbados regularly. The account has fallen into dormant mode a couple of times over the years but I never had to jump through hoops (until now) to reactive.
Last year, 2018 I received my usual bank statement but noticed $5.00 per calendar month is being deducted. I then got in touch with the bank in question ( Republic bank of Barbados) only to be advised this was a new thing which had been started, so I asked why was I not informed of this and was told my account had gone dormant ( yet they still taking the money out)

As I previously mentioned the account is a 'Saver account' not an Everyday account.

The branch in Independent Square closed down I believe this year and my account and funds transferred to the Worthing branch. Not a problem at all but the customer service I have received is just shocking!!
I have been backwards and forwards asking what I need to do to activate my account or request either the account closed and the funds transferred back to my UK bank account or one of my other accounts in Barbados.

Now wait for this:

Here are the fee's quoted:

*Notary Public a letter from my solicitors if I request the account activated which could cost anything between £60.00 upwards
*Another Notary Public letter as I have changed address from the original address when I opened this account.£60.00 upwards
*Republic of Barbados: Our telegraphic charges are BBD $90 and our fee for Tax Clearance Certificates is $25, as we are acting on your behalf.
*Republic of Barbados: The FXF fee of 2% is a government fee, for all foreign transactions and is not a Republic Bank (Barbados) Limited charge.

Can anyone give me some advice on this please as I was under the impression bank withdrawals from a savings account was not possible? I am only saving the money until I decide to return which is not costing the bank anything.
I have also asked the bank what type of account I currently hold or what account they have since set up for me to no avail.

Please help!

Sunniebgi

sorry... but unfortunately I can't speak to much of this except to say. My Bank,. .CIBC/First Caribbean, now charges a 10.00 charge per month on my checking account. I closed my savings account because they were taking 5.00 out each month. They used to have minimum amounts you have to keep in an account so those charges wouldn't happen, however. there is no longer a minimum and everyone pays. doesn't help those of us who have small amounts of money in the bank.... they did this without much advance notice to anyone..

I used to take money out of my savings account, move it to checking or just take it out of the ATM.. I would guess it depends on the terms and conditions of the plan you signed up for or what they currently have you signed up for.. they say they have one that has a 5000.00 limit required with no monthly fees..

you need to talk to someone else. . a manager, supervisor .. someone. and you may want to wait until you are back on the island to do it .. I would suggest you get the needed documents from your lawyer.. .. have the account reactivated and then withdraw the funds and move it yourself. but of course, that does depend on how much is in the bank.

Good luck..

hotchick21

Hi Sunniebgi,
Thanks so much for getting in touch and leaving some advise, this entire episode has been an absolute pain in the rear!
I of course I would still mind the $5.00 charge if lived on the island but saving to get there and having funds in the destination only for the bank to take money out every month especially when the account is dormant angers me.
I'll be in-touch again with the outcome once I speak with my lawyers etc.