Palmdale branch to be consolidated Feb 25; Wulff Rd & Jerome Ave on Mar 11
East St & Solder Rd branch to “transition” to digital model on Jan 31
NASSAU, BAHAMAS — Scotiabank has revealed that it plans to consolidate two of its New Providence branches into its main branch in the first quarter of 2022.
According to a notice by the Canadian bank, its Palmdale and Wulff Road and Jerome Avenue branches will be consolidated into its main branch on February 25 and March 11 respectively.
The bank noted that its Wulff Road and Jerome Avenue branch will be converted to a service center that will focus on “financial advice, planning, new account opening and loan applications”.
There will continue to be footprint rationalizations.
– Fidelity CEO Gowon Bowe
The bank also noted its East Street and Soldier Road branch will “transition” to a digital banking model on January 31, 2022, whereby transactions are conducted at the ABM and more complex transactions such as account opening, credit applications and queries will be serviced by branch staff.
Fidelity Bank (Bahamas) Chief Executive Officer Gowon Bowe told Eyewitness News: “There will continue to be footprint rationalizations. Given that customers are encouraged more to utilize digital means of banking, the foot traffic in branches will diminish and require less branches, particularly those with branches that are within short distances of one another.”
Last month, Scotiabank introduced an online payment system that allows customers to convert large credit card purchases into bite-sized monthly installments.
At the time, Scotiabank (Bahamas) Retail Banking Director Na-amah Barker noted: “Scotia SelectPay is a new concept that allows any cardholder to make high-value purchases and repay them in smaller installments over time.
“As one of the first banks in the region to offer this feature, we are confident that Scotia SelectPay will greatly benefit our customers’ needs.”
Credit card purchases of BD$250 or more are eligible for Scotia SelectPay — just in time for the approaching Christmas shopping season.
“Customers will be charged a lower interest than their usual credit card rates and will have monthly payment options to choose from, ranging from three, six, nine and 12 months,” noted Barker.
She added: “Payments are provided based on purchases made 26 days from the next statement date.”
