Republic disrespects customers
THE EDITOR: Republic Bank has in the past week showed complete disrespect to customers through the abrupt notification that as of May 5, cheques that are in the old format would not be accepted. The notification from the bank was dated May 4.
The bank gave no prior notification to customers who in the past had cheque books that were either in use or unused that had been purchased in 2022. Customers are now left holding useless cheques that do not conform to the updated industry-wide cheque standard.
The bank knew since the launch of the ECC system on February 6 that this requirement for cheques would have a deadline at some time in the months ahead. The bank failed in its duty to customers to notify them long before the planned cut-off date.
Today, many customers cannot utilise the cheque payment facility the institution provides. Those who seek to get new cheque books are faced with a waiting period of anything from six to eight weeks.
It should be noted that in the past temporary cheques were made available to customers. However, the courtesy has been discontinued.
The old cheques should have been exchanged for new ones to defray customer costs. Instead, customers are faced with the dilemma of how to make specific payments. It may be said use the online system; this may work for some but not for everyone (especially the elderly). Whether this is also the case for corporate customers is unknown, but it is surely the case for others.
Republic, what a disgraceful and irresponsible corporate action.
ALBAN C SCOTT
"Republic disrespects customers"