Guyanese commercial banks are protesting a proposal by the Bank of Guyana (BOG) for service fees to be the same across the board. Reports by the Starbroek newspaper indicate that the BOG has begun industry consultations on service fees, including a standard GUY$50 fee for automated teller machine (ATM) withdrawals of up to Guy$100,000 and a GUY$2,500 cap on late fees for loan repayments.

According to the news organisation, the banks have responded to say that fees in the country are a fraction of charges by other banks regionally, also noting that standardisation would militate against competition or the standard by which consumers choose between one bank and another.

 

The commercial banks in Guyana are Citizens Bank Inc, Demerara Bank Limited (DBL), Guyana Bank for Trade and Industry (BTI), Republic Bank Limited (RBL), Bank of Nova Scotia, and Bank of Baroda.

https://www.jamaicaobserver.com/business-observer/guyanese-central-bank-wants-uniform-banking-fees_235809?profile=1056