Loss of South Mountain Scotiabank ‘collateral damage of corporate profit’

The Editor:

In 2017, Scotiabank posted an $8.24-billion profit; 2018, $8.72 billion; and 2019, $8.798 billion.

We have now all received our letter that they are “relocating” the South Mountain branch to the Kemptville branch. The word “closing” is not used. Quote: “We’ll be much better equipped to provide the one-on-one financial services you have come to expect from Scotiabank.”

We already have amazing one-on-one service in South Mountain. The staff there knows usindividually and we have direct phone numbers to reach them when necessary. It is our rural bank with RURAL community spirit. Kemptville is now a citified Ottawa satellite with traffic congestion. The closure is not about better service it is about increasing 2020 profits.

The letter goes on: “We have flexible options so that you can bank when you want, the way you want. We have enclosed our Digital Banking brochure, which describes the options that are right for you.” They really want us to switch to cyberbanking.

The South Mountain branch services a large aging farming customer base that prefers not to use on-line banking. We prefer to face a person and talk with them. We have read about the online frauds that the banks refuse to pay. I just checked the on-line site. The page used to have a large message: “Online Security Guarantee. We will fully reimburse you in the unlikely event that you suffer direct financial losses due to unauthorized activity in your accounts through Scotia Online Services provided you have met your security responsibilities.”

Then there is a full page of your responsibilities. This message is now relegated to a very small print link at the bottom of the page. If you have ever tried to claim on an insurance event, you know how they try to avoid paying, by referring you to the fine print.

I have a full-time business that requires frequent bank deposits and I have no intention of driving to Kemptville. I was told I could do them from my cell phone. No! That’s not
happening either. There is no banking or credit card info on my cell.

There are many small businesses that will be negatively affected. Where will the post office and pizza place, golf course and gas station get their cash float which needs to be replenished daily?

This is not just the South Mountain bank. It covers Inkerman, Mountain, Brinston, Dixons Corners and Glen Stewart. Rural Ontario is the collateral damage of corporate profit.

Cyberbanking is not what we want.

Theresa Bergeron 

South Mountain

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