Beautiful Virgin Islands

Friday, Sep 30, 2022

Republic Bank to go paperless by November 1

Republic Bank to go paperless by November 1

Republic Bank Limited (RBL) in the BVI has indicated its intention to make some of its communications with customers completely digital within the next few weeks; meaning that customers will no longer receive these communications as normal through their mailboxes.
In an email sent out yesterday, September 20 the bank noted that, “Effective November 1, 2022, you (customers) will no longer receive printed deposit account statements via mail; statements can be viewed or downloaded via RepublicOnline or the RepublicMobile App.”

It was not made clear whether the bank intends to make all of its communications with customers paperless in the future.

The bank said its drive to go paperless supports its ‘Principles for Responsible Banking (PRB)’ commitment as it works towards creating a more sustainable environment in and around the Caribbean region.

“The ability to switch to e-statements brings us one step closer to creating a more sustainable world for all, while also ensuring that our customers can access their information with the click of a button,” the bank noted.

The bank’s missive made no mention of groups such as senior citizens who are not traditionally considered as ‘tech savvy’ and rely heavily on paper mail. There was also no mention of whether any accommodation will be made for such groups.

According to RBL, if all its customers made the switch to digital, they could slow the pace of deforestation and increase the levels of clean, healthier air in our environment.

RBL further noted that in 2020, its parent company Republic Financial Holdings Limited signed onto the Global Principles for Responsible Banking (PRB), a unified framework for a sustainable banking industry developed in collaboration with global financial institutions and the United Nations Environment Programme Finance Initiative (UNEP FI).

The bank also noted that the initiative’s guidelines ensure that signatory banks strategically align with the vision for society’s future outlined in the Sustainable Development Goals and the Paris Climate Agreement.
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