You can report banks for poor customer service
Amid growing complaints of poor customer service from some banks across the territory, residents are being reminded that they can make complaints to the Financial Services Complaints Tribunal.
The Tribunal’s role is to handle complaints against regulated financial services entities in the Virgin Islands.
On May 15, hosts of the Talking Points radio show bemoaned the often empty ATM machines and the long wait times that residents endure at local banks.
Chairman of the Financial Services Complaints Tribunal, Jack Husbands, said residents could bring their grievances to the tribunal which would then dialogue with banks to address reported issues.
“When the complaint is filed, it actually goes to mediation. We have the parties come before us and we try to mediate and find an amicable solution. At the end of that process, we can make recommendations to the institution (bank),” Husbands explained. “If we have a real difficulty, we can make a report to the Financial Services Commission where it will be dealt with. It will either be dealt with as part of the annual review of the financial services institution or it could be dealt with specifically as a one-off by the Commission.”
Husbands stated the Complaints Tribunal makes quarterly reports to the Financial Services Commission based on complaints they’ve received from the public. But he said his office can’t tell the Commission what sanctions to impose on banks and other financial institutions that residents feel are operating below standard.
“The Tribunal makes the report and we may make recommendations and we leave it to the Commission to take it forward as they see fit. But we are not part of that picture. We just listen to the parties and try to mediate,” Husbands explained.
He also added that the Complaints Tribunal accepts a wide variety of reports including those related to individuals who feel they have not received timely responses from banks when applying for mortgage and other types of loans.
The Financial Services Complaints Tribunal started out as the Insurance Tribunal after the 2017 hurricanes when residents felt as if they were being treated unfairly by insurance companies.
It has since expanded its role and now receives complaints about other financial institutions locally. However, many residents don’t know much about the office while others see it as a toothless organisation that does not have the power to implement real changes.
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You already know the problems..fix them and stop with the stall tactics.
REPORT THEM TO WHO, LORNA?
Same BS for years now
Same thing with the POOR mobile telecommunications
Every one in Authority knows of the problems —-Who does WHAT ??
Report to whom and then WHAT
IS the BVI a REAL place ??
We need better rates on loans/mortgages and on savings accounts.
those crazy fees needs to go because why do I have to be standing in line for over an hour for you to charge me almost $5.00 for using the teller.
So if I make a complaint and say” the way one bank has an open customer service area where all my details can be viewed, overheard by people standing in line or customers next to me”. What will be the outcome?????? You don’t think they have eyes and see bank customers here a treated like cattle rather than customers? Or days when the bank has 1 teller for 22 people??? Come on, stop putting on a show because the whiteman now watching you all and you all want to act like you do you job. Because we all know that you don’t. Most of the banks here should be closed just based on GDPR….
Who do we complain the Complaints Tribunal to?
I’m sure he/she knows what the problem is with the Banks.
So we complain and then what? Is the problem going to be fixed? You have heard our complaints through this medium for YEARSSSS and nothing has been done.
Stop spouting hot air.
Hahahahaha! Complaining may be possible but the Banks don’t care. One time in took me 2 years to get my address changed and the next time only 6 months – so you say better.
First bank! Their ATM’s always down especially on a pay day
They aint a department big enough to deal with the complaints.
And what will be done? Ntn as usual. Btw, we need more ATMs around the BVI, not just in town by the banks.
So this department is just waiting for the complaints to come in? I’m so confused by this article hahaha they know of the issue but not doing anything until they receive complaints from the public…
*face palm*
Long story short: No. May be the all fixing 70 year old no energy deputy premier or the special envoy to the premier would add this to her/ his portfolio. Either of them can give a prepared speech about it
then you wont have an issue 🙂
Would love to be able to do more banking online!
Would love online banking to improve so we wouldn’t have to go into the actual banks as much