PHILIPSBURG–Scotiabank clients who are still reeling from the effects of the catastrophic 2017 hurricane season can breathe a sigh of relief.
The bank said on Monday that it will automatically extend its Customer Assistance Programme until the end of February for customers who are still recovering from last year’s hurricanes.
The programme is a relief effort designed to help the bank’s customers in the countries severely affected by the aggressive hurricane season. Customers whose loan payments have been suspended will benefit from an automatic extension until February 28, with no action required from the customer. The suspension covers loan payments including mortgages, personal loans, credit cards and lines of credit.
Although no payments are due before March, interest will continue to accrue during the payment moratorium and will be added to the end of the loan. Customers with the ability to make monthly payments are encouraged to do so on a voluntary basis to minimise interest charges.
Customers wishing to opt out of the programme or who wish to discuss their eligibility for refinancing or consolidating their debt are invited to call the bank at tel. 543-4357 and choose the prompt for the Hurricane Relief Programme. Customers may also email
Customers are also invited to contact the bank to discuss any financial needs not included in the Customer Assistance Programme.
Scotiabank has been in the Caribbean for more than 128 years and had previously announced a donation of US $500,000 towards the relief effort as part of its contribution to the rebuilding exercise. Half of this money will be channelled through the Canadian Red Cross that already has active societies in the affected communities, with the remainder being directed to initiatives supporting young people in these areas.