Dear Editor,

ALL BANKS POORLY MANAGED

I have decided to write this letter since I see the complaints about the banks and now the PM is also criticizing their poor service.

The fact of the matter is that all the banks in Antigua are poorly managed. All. ECAB and ACB operate with Directors, most of whom are either untrained in finance or their training is 20 years outdated. CIBC Antigua only behave like they are in charge but all decisions are made in Barbados.

ACB lost millions in their RCB acquisition and the Grenada operation is a disaster. No one at ACB seemed to understand what they were doing. I worked at ACB for years. The Manager is hardly in Antigua but at her home in St. Lucia. A decision was made to work with a company in St. Kitts to manage and clear credit and debit cards. They convinced ACB to change to smart ATMs which have been sitting in Antigua for over a year as the St. Kitts company does not have the technology.

ACB is now changing companies but that will take time and, in the meantime, the old ATMs cannot take the pressure as with the acquisition of RBC, there is now more traffic. Had there been proper planning and management, this would not have happened. This cannot be fixed overnight and it will be months more of this frustration.

Meanwhile customers will have to pay the $10 to go to a teller. All we get from ACB are knee jerk reactions like now opening later and on Saturdays.

I don’t know how to fix the country’s banking issues without a total change of management and a vision. There must also be rules on charges as the banks are digging out our eyes for every service to get access to OUR OWN hard-earned money. I sometimes feel that with the miniscule interest paid, it is better to save under your bed. At least you will have access to your money when you need it and without paying a fee.

Denzel Warner