The purpose of any business requires putting people before ourselves

Oct 21, 2014 Letters

DEAR EDITOR,
A long while ago I discovered that the banks in Guyana have implemented a new set of laws pertaining to citizens who wish to open a new bank account. Some of these new laws don’t make much sense to me when I evaluate them very carefully. To open a new bank account all our banks require the following two forms of identification; GECOM’s National ID Card and
1. A Valid Passport
2. A job letter
3. A passport size picture
4. TIN certificate
5. Birth Certificate & Marriage Certificate at some banks.
6. Transport and Business licence or Registration where necessary.
I was not aware of all these laws until I visited the bank to renew my US Visa card. It flabbergasted me. My first concern was why does the bank require two forms of identification? I have a valid National Identification Card given to me by GECOM, now the bank is telling me that my identification card alone is not good enough to identify me. That tells me clearly that the bank is degrading an identification card given to me by GECOM. Is the bank a higher entity than GECOM?
In my opinion, I don’t see this new regulation being necessary to open a new bank account. Some banks don’t accept a valid driver’s licence that’s now given to us by GRA. That I find very ridiculous and disgusting.
I don’t have a problem with a job letter, but a whole lot of Guyanese are self-employed – selling at the markets and street corners. Who is going to give them a job letter?
Now they want a TIN certificate. Why is that necessary? Some old folks and illiterate folks ask me if they need a ‘tin cup’. Why all these laws now on our old citizens and some persons who can barely read or write.
How many of our citizens have a TIN Certificate or two forms of identification? All these new laws do is make it more difficult for the ordinary man and woman to have a bank account. When I inquired about this, I was told that all these laws came from the un-passed anti-money laundering bill. If this bill is not yet passed, then it means these laws integrated into this bill cannot be implemented as yet in our nation’s banks.
I also discovered that the banks also need two forms of identification for a huge sum of money being withdrawn and the same goes to cash a cheque. It is unfortunate the banks never sent out letters to their customers informing them of these new laws, so that they wouldn’t travel miles to do their business to be turned down.
Sooner or later the banks will have to close their doors, because hard-working citizens won’t have the time to spend days to bank or withdraw their own money. If this new law about two forms of identification is in the anti-money-laundering bill, then it should be made available at every bank and our libraries, university, schools, and health centres to sensitize our people.
If having two forms of identification is required by law, then GECOM must now issue every citizen with same – one full face and the other a side view that must be very visual. I am aware of many market vendors who cannot get a bank account because of all these laws. In my opinion, an ID card and birth certificate is good enough to open a bank account. Why all this hassle?
It is my sincere hope that these laws can be amended to suit the needs of our people. We are tired with oppressive laws and long lines. The banks have become a miserable place to be – no toilets or rest rooms or even a canteen, since we have to spend hours in queues. The purpose of any business requires putting people before ourselves and our so-called draconian laws. May God help us.
Rev. Gideon Cecil

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