Scotiabank has said that local businesses could see a reduction of up to 60 per cent in annual banking fees and significant reductions in processing times for some transactions if they utilise online banking channels.
The bank’s global transaction banking team urged more business owners and operators to consider digital channels for routine banking transactions including wire transfers, salaries and payments to regular suppliers.
According to Perrin Gayle, senior vice-president in charge of corporate and commercial banking at Scotiabank, the COVID-19 pandemic has resulted in a spike in the number of businesses applying for online banking services.
“Our digital banking channel offers a comprehensive range of banking services and is the ideal way of keeping abreast of day-to-day finances, while, of course, offering the added benefit of lower fees for certain transactions,” he said.
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