BOH delays transfer of accounts to Hawai’i
With the indefinite delay in Bank of Hawai’i’s closure of its local operations, there is also a delay in transferring BoH’s customers, who wanted to maintain their accounts with the Hawai’i based financial institution, to Honolulu.
In a Feb. 3rd letter to local customers, BoH’s executive vice president for West Pacific Region, Ronald Cannoles pointed out that throughout 2013, the bank had sent out communications regarding the anticipated closure of operations in the territory.
With the announcement last December that BoH will extends its stay in Pago Pago indefinitely, “your account(s) will remain open unless you’ve instructed us otherwise,” the letter says, adding that if a request was made to transfer account to the main branch in Honolulu, the transfer is also delayed.
“Although no definitive closure date has been determined, we will continue to assist you with the closing and transferring of your account(s) to other financial institutions,” Cannoles said.
During the transition period, customers can continue to make deposits and withdrawals, wire funds, and make loan payments at the main branch in Utulei. BoH also has seven ATMs on island that remain available.
However, the bank will not accept new loan applications or open new accounts, he said.