BECM Bank in Cole Bay to cease operations per May 31 | THE DAILY HERALD

COLE BAY–BECM Bank in Cole Bay will cease its operations in Dutch St. Maarten as of May 31.

The bank said in a notice to clients that it has decided to cease its banking operations on the Dutch part of St. Maarten. “We have made all the necessary arrangements to allow the transfer of your assets to the bank of your choice. We will wind up operations smoothly and will provide you with the quality of service you expect from our institution,” the bank said.

The bank urges its clients to contact their account manager at their earliest convenience. The account manager will advise clients on this process. “If you have a loan, we will continue to manage and plan the repayment of the credit as agreed initially. If you are unable to come to your branch, please send us your instructions by April 30, along with the details of the bank and account (BIC-IBAN) to which your assets are to be transferred, so that we can carry out all the formalities required,” the bank said.

“As a result of the cessation of our activities, you are also asked to send back all unused cheques and the bank cards held by you or by any representatives and to inform such representatives as soon as possible. Upon receipt of all these elements, we will proceed to close your account permanently, subject to the settlement of pending transactions. It is, of course, your responsibility to provide adequate funds for that purpose,” the bank noted.

The exact reason for the closure could not be ascertained.

Source: The Daily Herald