Sir,
I write in a personal capacity when I wonder who is the cretin who had decreed that bank branches, in the Bahamas, will go cashless. I will further add that I am a retired banker and started my banking career some 60 years ago in London, you may have heard of that place? The birthplace of modern banking! No banks in the UK have considered instituting this ludicrous idea, though I do understand there are some considerations being given.
I fully understand the concept, though to introduce something so advanced with no notice, is not viable. Please remember “cash” is otherwise known as LEGAL TENDER, the only medium of exchange approved by law to settle indebtedness, and, by no stretch of the imagination will cheques, bank debit and credit-cards nor stupid phones ever be given the title “legal tender.” Something-else I learnt in my banking exams – an employee is entitled, by law, to demand his wages … IN CASH!
Adding to my earlier comment about introducing something with no notice, I suggest there must be an educational time to allow we, the customer guinea pigs, to learn the system and this is not a matter of days, nor weeks nor even months, my suggestion is a forty YEAR period, before this stupidity can be fully enforced!
A final couple of thoughts; i) I hope someone has discussed this idea with the Post Office, as they have no idea what cheques or debit and credit-cards are; and ii) I propose any banking institution which goes ahead now with this system and has the word “bank” in its name, is asked to remove the word “bank” from its name and is stripped of its banking licence!
Dismayed and angry.
Sincerley,
Peter Armstrong
