Demerara Bank Limited has instituted several measures to bring relief to customers in light of the socio-economic impact of the spread of the Covid-19 virus.
The Bank, in an advertisement in Saturday’s Stabroek News, listed the following measures intended to bring relief to its customers:
Loans and Advances (with immediate effect)
• Moratorium of three (3) months. A further extension will be considered on a case to case basis for clients highly affected by covid-191*
• Reduction of interest rate on loans and advances on a case to case basis for the next three (3) months*
• New loans and advances applications processed in the next 3 months will have no processing and commitment tees*
• Consideration will be granted to new advances to clients affected by covid-19*
• Debt consolidation for long term loans to mitigate cash flow problems*
Debit/Credit Cards (in effect for a 3 month period)
• Waiver of minimum payment requirement on Credit Cards
• Waiver of late payment and over-limit fee on Credit Cards
• Waiver of fees for Debit card transactions
• Free Point-of-Sale transactions
• Increase in ATM cash withdrawal limit to $175,000 daily for Debit cards
Business Accounts
Customers can obtain free disposable night bags and utilise the night-safe facilities instead of coming into the bank*
The Bank advises that Terms and Conditions apply those items marked with an * (asterisk).
In addition, Demerara Bank has stated that it has taken the following steps to reduce the spread of the coronavirus:
• All banking halls have been equipped with wash-sinks, soap and paper towels for customer use before processing transactions
• ATMs are equipped with hand sanitizers
• Increased cleaning protocols, especially for high-traffic areas and frequently touched surfaces
• Special arrangements in effect for senior citizens and those most at risk from the virus
• Adjustments made to seating and queues to accommodate social distancing requirements
Apart from introducing measures to combat the spread of the coronavirus (Covid-19), the Bank urged its customers to do their part by heeding the following suggestions:
• Utilize the online banking platform which allows you to view account information, transfer funds, request wire transfers and process other transactions
• Send wire transfer requests through E-banking or call ahead to book your transaction
• Use ATMs to process card transactions including withdrawals under $175,000, cheque deposits, and cash deposits below $300,000.
All ATM fees are currently waived.
