Richard Deane criticizes Trinidad’s banking regulations that hinder foreign visitors from cashing cheques. He recounts an elderly Canadian woman’s struggle when she tried to cash Canadian government-issued cheques, which the local bank refused to accept unless made out directly to the company she holds shares in. Deane argues for more visitor-friendly banking provisions to facilitate access to funds.
In a letter to the editor, Richard Deane expresses his concerns regarding the banking practices in Trinidad, particularly affecting foreign visitors. He highlights an incident involving an elderly Canadian woman, who, while visiting Trinidad, faced difficulties cashing government-issued cheques because she lacked a local bank account. The company where she holds shares attempted to deposit the cheques but encountered bank policies that prohibit such transactions unless the cheques are made out directly to the company.
Deane questions the rationale behind this policy, suggesting that if the cheques are properly endorsed, the bank should be able to handle any potential dishonor by debiting the company account. He further emphasizes the lack of provisions for visitors to access funds while in Trinidad, raising concerns about the implications for tourists who may run out of money. He argues that this stringent banking measure is excessive and detrimental to the tourism sector.
In conclusion, Richard Deane’s letter critiques the restrictive banking measures in Trinidad that adversely impact foreign visitors. He calls for more accommodating provisions to support tourists in managing their finances while visiting the country, arguing that current practices are excessively strict and detrimental to the tourism industry.
Original Source: newsday.co.tt
