Windward Islands Bank stops speedy depositPOSTED: 02/19/16 2:07 PM
St. Maarten News – The Managing Director of the Windward Islands Bank Derrick Downes has confirmed that the speedy deposit boxes at all branches have been closed. Among the reasons cited were transparency and security reasons even though there are cameras that monitor all transactions.
With the different terror groups and persons wanting to hide drug money it could be easily be done through the speedy deposit, said Downes. He outlined that some may say that persons are also able to use other means to deposit money like night deposit boxes or the automatic teller machines.
“Those who deposits funds in night deposit boxes are identifiable by the keys that they are issued and the camera footage,” Downes said. “ATM card holders have their personal pin numbers that are not easily given out to others. Our move to stop the speedy deposit is to help curtail these illegal activities that are recognized worldwide.”