AmbergrisCaye.com Home Forums About Belize Nation Scotiabank Notice

I'll post this in case it affects anyone who might have missed the notice in the newspaper.

Here's the text from a Scotiabank notice placed in The Reporter newspaper a week or two ago ...

QUOTE

NOTICE

The Management of Scotiabank (Belize) International Ltd. advises its intention to wind-up its operation, and regretfully, will no longer continue to provide banking services to non-residents of Belize.

This decision was made in line with the Bank's strategic plan.

Customers are asked to contact the Bank immediately to make arrangements for the orderly settlement of their account(s).

We thank you for the opportunity to continue serving you through our affiliated company, Scotiabank (Belize) Ltd.

UNQUOTE

Got that , and I'm a citizen and pulling out.

What kind of 'strategic plan' provides for a reduction in customers?

One that complies with international law!

Hmm . . .to my mind that would be a "compliance" issue and not a "strategic plan".

Is Scotia Bank International the same as the regular Scotia Bank throughout Belize? I'm guessing it's their International Offshore Banking arm aimed at non Belizeans, like all the major Banks have.

Nope. I called Scotia Bank branch in San Pedro yesterday. Scotia Bank International deal only with international accounts.

Just when you think things couldn't get weirder!
I called the bank and they said the advertisement isn't worded correctly and that its only persons with US Dollar accounts!
This ad ran in the Reporter.
The Management of Scotiabank (Belize) International Ltd. advises its intention to wind-up its operation, and regretfully, will no longer continue to provide banking services to non-residents of Belize.
creates a great loss in faith. notrue?

Scotiabank (Belize) International Bank is a separate entity from the Scotia Bank. The International bank only deals with foreign accounts in foreign currency. This does not affect the local Belize dollar and Belizean held bank accounts.