1. Q - Will Butterfield customers need to sign over new mandates on becoming part of the First Citizens group?
A – Not at this time. There will be no immediate changes to customer mandates and accounts will continue to be governed by the terms and conditions under which they were opened.
2. Q - What will happen to the Butterfield branch network? Are there plans for expansion, or reduction?
A – While we will be looking to expand our branch network outside of the St Michael and Christ Church areas we recognise that this will not be immediately possible. We will however explore all possibilities to make this expansion happen in the shortest possible time.
3. Q - Are there any new products or services that will be introduced locally?
A – We pride ourselves on our diversified portfolio of products and services. It is our intention to introduce some of these locally to enhance and supplement the existing range of products in Butterfield as well as the market. In addition the full suite of products available at our sister company, First Citizens Investment Services, will become available to you on a referral basis.
4. Q - Will the transaction affect the terms and conditions of any existing loans, term deposits or other accounts I have with Butterfield?
A – The terms and conditions of all of your accounts will continue to be honoured by First Citizens during the life of the account.
5. Q - Will my bank account numbers change?
A – Not at this time. While your account number will remain the same in the short term, the Butterfield banking system will be converted to First Citizens’ system by late 2013. You will receive additional information on this throughout the conversion process.
6. Q - Will I need new cheques, debit or credit cards?
A – New debit and credit cards will be issued to replace the existing Butterfield cards. Additional information and instructions will be provided closer to the change-out dates. . All new cheques will be issued as First Citizens cheques. You may use your existing Butterfield cheques until the supply is exhausted but our desire is that you exchange your current supply for the new First Citizens cheques. You will be refunded stamp duties on all unused stock.
7. Q - Will access to the existing online banking system and its bill payment functionality remain?
A – Yes, your account access and system functionality will remain the same until conversion of the Butterfield banking system to the First Citizen Banking system in late 2013
8. Q - Will my account fees and charges or minimum balance requirements change as a result of this transaction?
A – Not at this time. While there are no immediate plans to change account fees and charges or minimum balance requirements, we will however continue to carry out an annual assessment in those areas to ensure they fairly represent our operating overheads.
9. Q - Do I have to inform my employers about any changes for direct deposit purposes?
A – Not at this time. All account particulars will remain the same until conversion of the Butterfield banking system to the First Citizen Banking system in late 2013
10. Q - Will customer service contact details such as telephone and emails change?
A – All existing telephone numbers will remain in place and you may continue to use them as you have in the past. The email suffix @bb.butterfieldgroup.com will be replaced by @firstcitizensbb.com so your emails should now be sent firstname.lastname@firstcitizensbb.com.
11. Q - Will I now be able to exchange Trinidadian cash and monetary instruments for Barbados equivalent or credit to my account?
A - We will continue to sell managers cheques/bankers drafts in Trinidadian currency but will not be accepting the currency for deposit to accounts or in exchange for Barbados cash at the bank counters.
