Transition Of Scotiabank BVI To Republic Bank Is Proceeding Smoothly | Island Sun

Transition Of Scotiabank BVI To Republic Bank Is Proceeding Smoothly


The transition from the Bank of Nova Scotia to the Republic Bank is gradually nearing completion and bank officials informed The Island Sun newspaper that all was going well. Managing Director of Republic Bank BVI, Marion Blyden explained that the transition is expected to last a few months and within that time Republic Bank will ensure that customers’ activities are not disrupted or impeded.

“All products and service pre-acquisition will continue…There will be absolutely no change to what customers can expect,” the Bank Manager declared as she explained that in this time of COVID-19 Republic Bank is entering the market prepared to assist residents.

Noting that customers of Scotiabank are nervous about what the change will bring she stated that the transition will not occur overnight and is presently ongoing. “We are still in the transition changes, so you wouldn’t see any major changes as yet and we’ll be in this stage for a few months; and we want to make sure that it is the smoothest transition for the customers. We want the customers to do nothing, just operate as business as usual.”

For a period of time, Blyden explained that certain features of the bank will still be supported by, and bear the features of Scotiabank. “To facilitate this new transaction we have entered into a transaction service agreement with Scotiabank for a period. This means that some of our operational functions would continue to be supported by Scotiabank. For example, the ATMs continue to be supported by Scotiabank under this agreement.”

“The only visible major change that I would say has happened is of course the rebranding of our building in this bright nice beautiful blue; and also you are seeing us we are more visible in the market because we have pictures brochures letting you know more about the organization. Other than that nothing has really changed and we don’t expect it to change right away. The website address has changed of course but it is seamless… Your credentials don’t change. The only thing customers must pay attention to is our wire transfers have changed and will of course reflect the Republic Bank,” she further mentioned.

As it relates to the switching of the cards the Bank Manager explained that this would be done upon the expiration of each customer’s current card to ensure that the process is properly managed.

Following the announcement of the sale earlier this year it was announced that Scotiabank staff had reached out to legislators to enquire about the future held for them in relations to the sale. During the interview Blyden explained that the staff were retained and are now just transitioning to the new brand. “Our staff are fully engaged and excited about this opportunity; I should mention that there was absolutely no retrenchment in staff so when you come into the bank you still see the same friendly faces and our staff are excited because there is an opportunity for their personal development because Republic has this robust aggressive training programme and the focus is investing in human resources…We have maintained all staff,” the Manager announced.