Prime Minister of St. Vincent Ralph Gonsalves

Prime Minister of St. Vincent Ralph Gonsalves

KINGSTOWN, St Vincent – St Vincent and the Grenadines two main political leaders are urging citizens to seek advice before making a decision on whether or not to withdraw their funds from the RBTT Bank here following a decision by the financial institution to increase fees for its services.

Many customers have descended on the bank indicating a willingness to withdraw their funds after the Trinidad-headquartered financial institution announced an EC$25 (One EC dollar=US$0.37 cents) monthly service fee.

“I would tell persons to make their own judgement,” Prime Minister and Minister of Finance Ralph Gonsalves said on radio, a day after Opposition Leader Arnhim Eustace had told listeners to do the same.

Gonsalves said that the fees “just came out of nowhere and they are excessive” and that if a depositor has a sufficiency of money and feel they can bear the EC$300 annual fee, they can choose to do so.