BSP clarifies complaints on long queues at their banking centers

Bank South Pacific (BSP) has clarified the long  queues at their banking centers. The bank posted the following via social media.  There are comments of social media on the lines at BSP Branches.

While BSP cannot satisfy all customer complaints, we acknowledge your comments and these concerns are communicated clearly with our branch team.

Here are some Facts that can answer or clear some doubts. 

1. 80% of those people in the queues are using BSP to make cash deposits for school fees. They are not regular BSP customers but use BSP because the schools won’t accept the cash themselves.

2. Jan - Feb are peak period for the Bank. Customers walk into the branch to apply for School Fee Loans. The assessment and review of these application takes time.

3. BSP continues to encourage customers to use electronic banking channels available. Mobile and Internet Banking can allow customers to make funds transfers for payments. Despite this, there are Some customers who go to an ATM, withdraw cash, then go to the branch to make a deposit. This can be avoided by using electronic banking channels.

4. BSP has an extensive coverage of sub branches and agents that can facilitate deposits. Instead of visiting a branch, check if you have a BSP Agent or a sub branch near you.

5. There are education institutions and organisations that have EFTPoS devices to facilitate payments. Customers can simply use the card to make payments instead of withdrawing cash and visiting branches to make a deposit.