BOH 100-days to close down begins
Bank of Hawai’i started on Dec. 4 the 100-day count down to the official closure of all its local operations and relocation to Hawai’i, after being delayed for one-year following the urging of Gov. Lolo Matalasi Moliga, Congressman Faleomavaega Eni and other local leaders.
The Tafuna branch was closed in March this year, while the bank kept its Utulei location open. With the pending closure, BoH’s executive vice president for West Pacific Region Ronald Cannoles, sent out a letter late last month to its current customers telling them they still have the chance of transferring their accounts to Honolulu and if they want to do so, they must contact the Utulei branch as soon as possible.
The letter also outlined the advantages and disadvantage of banking with an off-island financial institution with no local branches. For example, deposits mailed may be delayed or lost in the mail. Additionally, no local staff is available to assist customers, and phone calls to BoH Honolulu are not free calls.
Among the advantages of banking with ANZ Amerika Samoa Bank is that there are no ATM fees, residents will have easy access to funds and local businesses may be more receptive to accepting a check drawn on a local bank.
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