Do we have another Clico on our hands as Fidelity abruptly suspends its popular Western Union wire transfer services…

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NEWS BREAKING NOW >>> Banking woes hits local bank…MONEY LAUNDERING?
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Lyford Cay resident Anwar Sundji
Lyford Cay resident and CEO of Fidelity, Anwer Sunderji

Nassau, Bahamas — Breaking News coming into Bahamas Press now confirms another local bank is suspending one of its most popular services.

Details coming into BP yesterday afternoon confirm customers at Fidelity Bank [Bahamas] LtD no longer can make wire services as the bank has discontinued its Money Transfer Services.

The move has left thousands of customers stranded and stops them from sending funds to their loved ones around the world. In letter dated July 17th, 2015 Chairman and Ceo Anwer Sunderji wrote, ” The Board of Directors of Fidelity Bank and Trust International [FBT]  “…..announces today it will no longer offer Western Union, Money Transfer Services at its branches and  sub-agent locations as of end of day, Friday July 17th, 2015.” The decision affects its locations throughout the Bahamas, The Cayman Islands and the Turks and Caicos Islands,”

The decision is a major blow to the bank and now puts the question the stability of the bank! Hard economic times and global changes in the sector, particularly following the recession, witnessed the collapse of many banks around the world being bailed out by governments.

Now that Fidelity, wire services are GONE- How stable is the bank? And why was the service ABRUPTLY SUSPENDED?

We ga wait to see if anyone ga comment on this! Do we have another CLICO on our hand?

We report yinner decide!

 

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1 COMMENT

  1. It was abrupt and amazing, leaving Bahamians with no other choice than the scandal -riddled and unreliable Money Gram. So why did Fidelity end the Western Union service?

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