A MOVEMENT by two local banks to entirely terminate the mailing of bank statements to consumers and replace such with e-statements will disenfranchise thousands of consumers who do not have access to the internet, or who do not know how to use electronic devices.
This is according to Guyana Consumers Association President, Pat Dyal, who said that consumers who would be affected by the decision should report the issue.

“The culture in Guyana is not fully computerized as yet. The majority of people do not have computers nor are they able to manipulate them,” the Consumer Rights activist argued.
He added that: “Persons who not have computers, do not have money to buy computers, and don’t know about computers will be disadvantaged through no fault of their own.”

According to statements on their website, Citizen’s Bank and Scotiabank have announced that they will no longer be issuing consumers with mailed paper statements. The change will be effective from July 1 at Citizen’s bank and has been effective since June 1 at Scotiabank.

Dyal said the move may particularly disenfranchise older persons who are not necessarily internet savvy. He said a move to giving customers a means of accessing their statements online is a good one, but it should be done along with an option for the consumer to still have their mailed statements.

“The older population no matter where they are whether it’s in developed or under- developed countries, they cannot, and do not know to manipulate computers well. Therefore any kind of change must give an option to people who want to get paper statements and continue to have them,” Dyal reasoned.

A similar argument was put forth last year in a comparable situation, when telecommunications company, GTT, was ordered by the Public Utilities Commission (PUC) to resume offering consumers the option of mailed physical bills, when that company unilaterally took the decision to stop issuing consumers the option to get paper bills and only made it possible for the consumers to access their bills online.

That case was brought against that company by a consumer who argued that he had no access to online facilities to access his information, and imposing electronic bills on consumers forces them to seek such facilities.

Scotiabank in its statement said that the move was “as a result of the COVID-19 pandemic”.

Bank of Guyana Governor, Dr. Gobind Ganga, said that Scotiabank had indicated that its system would be done in a phased manner, and that paper bills will still be left as an available option. However, after a grace period, consumers would be required to pay for the statements.

“If they (consumers) don’t have it (internet), [the bank] will have to provide it (statements). It may provide it free first, but afterwards, after a period of time, it will charge a fee for it, with respect to what I understand with Scotiabank,” he explained.
Ganga said that a paper option should still be available to consumer in consideration of consumers who would not have access to the internet.

“They are now migrating from the hard copy to the electronic but they will continue to provide hard copy, but, after a period of time, it will be phased out. If I choose that I don’t have facilities and I would therefore like a hard copy then the bank should provide that,” Ganga said.

At Citizen’s Bank however, representatives of that local bank have made it clear that the online statements will be imposed without any options for customers to have a physical copy mailed.

At the bank consumers are informed that, should they not have access to the internet, the only other option provided would be to obtain a statement by visiting the bank, where the statement will be provided at $300 per page.

Earlier this year, Minister of Finance, Winston Jordan, had noted the need for stronger consumer laws, singling out the banking sector as an area where there is not sufficient enough legislation to protect consumers.

“… banking literacy laws we need that. You wake up one day you see something is taken out [of your bank account] just like that, no information, no reason, nothing,” Jordan had said.

Dyal noted that there are consumer protection laws, which may be able to help consumers who may be affected by this situation.

Director of the Competitions and Consumers Affairs Commission (CCAC), Dawn Holder, said that consumers who do not feel comfortable with the imposition can make an official report with the Commission, which will investigate.

However, in the past, at least one bank has questioned the CCAC’s jurisdiction to handle consumer complaints at financial institutions. The Consumer Affairs Act of 2011, however, is clear that services covered under the CCAC include financial services.