Concerns Over Banking Restrictions Affecting Visitors in Trinidad

Richard Deane argues that Trinidad’s banking policies are overly restrictive for visitors, citing the case of an elderly Canadian woman who could not cash her government cheques without a local account. He criticizes the government for failing to understand commerce and its impact on tourism, asserting that current measures leave visitors with limited financial options.

In a recent letter to the editor, Richard Deane, a businessman with 27 years of experience in Trinidad, voiced his concerns about the government’s ineffectiveness regarding commerce and tourism. He shared the case of an elderly Canadian woman who wished to cash Canadian government cheques while visiting Trinidad but faced banking restrictions due to her lack of a local bank account. Despite having shares in a local company, her cheques could not be deposited without being made out to the company directly, which he deemed unfair.

Deane questioned the rationale behind the banking policies, expressing frustration that even if the woman endorsed the cheques, the bank would place a hold on the company’s account. He argued that, should visitors struggle financially, the current measures leave them with no viable options and suggested there should be provisions for them to access funds without such restrictions. This situation, according to Deane, highlights an overly harsh banking policy that adversely affects tourism and visitor experience in Trinidad.

In conclusion, Richard Deane emphasized the urgent need for reform in banking measures affecting visitors in Trinidad. He highlighted how current policies not only complicate financial transactions for tourists but also reflect a broader misunderstanding of commerce and tourism by the government. Deane’s points urge a reconsideration of policies to foster a more welcoming environment for international visitors.

Original Source: newsday.co.tt