London Daily

Focus on the big picture.
Thursday, Oct 02, 2025

Scotiabank announces customer assistance program | Virgin Islands News Online

Scotiabank announces customer assistance program | Virgin Islands News Online

As the Virgin Islands cope with the effects of the COVID-19 pandemic, Scotiabank with the aim of helping its customers have announced a number of measures to provide financial relief to those who need it most.

In a press release today, March 30, 2020, the bank said its Scotiabank retail customers with mortgages or any Business Banking customers (except credit card customers) who wish to have their loan payments deferred should contact Scotiabank to participate in the customer assistance Program (CAP).

Scotiabank customers can call (284) 494-3130 to speak to a representative. Scotiabank customers who choose to participate in the program can have their loan payments deferred for up to 6 months (first for a period of 3 months with the possibility of extension for a further 3 months).

Scotiabank customers with credit cards (also includes Business Banking credit cards), revolving credit lines, other term loans and auto loans will have their payments automatically deferred for up to 6 months (first for a period of 3 months with the possibility of extension for a further 3 months). Credit card customers can continue to make normal payments at any time.

All other customers wishing to continue to make payments can continue to do so by calling Scotiabank at (284) 494-3130. Customers wishing to discuss their eligibility for refinancing or consolidating their debt can also call our contact centre to speak with a representative.

Managing Director of Scotiabank (British Virgin Islands) Ltd., Marion Blyden commented “We are committed to supporting customers at this challenging time. We know the COVID-19 crisis will create financial difficulty for many customers and we have offers available to help them to manage their financial obligations.”

The following solutions are being made available to: -

Our Retail Customers

Mortgages:

  •   Payments for mortgages may be deferred for up to six months (3 months with the possibility of extension for a further 3 months).

  •   Debt consolidation and Fixed Payment Plans are available for customers requiring long-term financial assistance

  •   Loan Fees and penalties for late payments will be waived on customer assistance facilities

  •   We will also be implementing a reduction in credit card interest rates

Other term loans, auto loans, credit cards, revolving credit

  •   Payments for Secured and Unsecured Loans (including other term loans, Auto Loans, Scotia lines of credit and credit cards) will be automatically deferred up to 6 months (first for a period of 3 months with the possibility of extension for a further 3 months).

  •   Debt consolidation and Fixed Payment Plans are available for customers requiring long-term financial assistance 

  •   Loan Fees and penalties for late payments will be waived on customer assistance facilities

    Our Business Banking Customers

    All products except credit cards

  •   Payments for Secured and Unsecured Loans may be deferred up to 6 months (first for a period of 3 months with the possibility of extension for a further 3 months).

  •   Debt consolidation and Fixed Payment Plans are available for customers requiring long-term financial assistance 

  •   This offer includes mortgages, operating lines, and term loans and will be available for customers opting in to the program for up to 6 months (first for a period of 3 months with the possibility of extension for a further 3 months).

  •   No processing fees will be applied to loans extended for working capital support for businesses affected by COVID-19.

    Credit Cards

  •   Payments for credit cards will be automatically deferred for up to 6 months (first for a period of 3 months with the possibility of extension for a further 3 months).

  •   Debt consolidation and Fixed Payment Plans are available for customers requiring long-term financial assistance 

    Please note that for customers whose payments are deferred, interest on the loan will continue to accrue, along with any loan insurance premiums due and will be payable at a later point in the loan’s cycle. Customers should contact Scotiabank for more information on the interest payments.

    Our Corporate and Commercial Customers

    Scotiabank will be offering support to our corporate and commercial banking customers impacted by COVID-19 across various industries to maintain their operations.

  •   Temporary principal payment relief on term loans of up to 6 months, with a corresponding extension on the loan

  •   The bank will also continue to offer a robust online banking platform to process payments to staff and suppliers thereby providing them with flexibility and ongoing connectivity to operate their business remotely.

  •   These offers will be subject to applicable terms and conditions and requests will be assessed on an individual basis. Customers are encouraged to reach out to their Relationship Manager to discuss any needs for support.

    Given the public health guidelines around social distancing, Scotiabank is also strongly encouraging all customers to make use of the recently expanded functionality available through its self-service banking channels.

This includes the Bank’s new mobile banking application that can be used to pay bills, transfer funds and check account activity free of cost 24 hours per day. While branches remain open to the public for certain transactions, customers are being asked to use digital channels and ABMs during this time.

Our team is here to support customers with any questions regarding financial needs. Please visit our website vg.scotiabank.com for further information related to our Customer Assistance Programme as well as all our official updates on COVID-19. Our call centre is also available 24/7.

Newsletter

Related Articles

0:00
0:00
Close
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Indonesia Court Upholds Military Law Amid Concerns Over Expanded Civilian Role
Larry Ellison, Michael Dell and Rupert Murdoch Join Trump-Backed Bid to Take Over TikTok
Trump and Musk Reunite Publicly for First Time Since Fallout at Kirk Memorial
Vietnam Closes 86 Million Untouched Bank Accounts Over Biometric ID Rules
×