Butterfield suspends changes to card rates


Butterfield Bank’s previously announced changes to credit card rates and fees, which were to have taken effect on March 31, have been suspended until further notice.

In a statement, the bank said: “Those changes were planned and announced in advance of the Government of Bermuda’s implementation of measures to prevent the spread of COVID-19 in the community, which involved a suspension of tourism, the closure of many businesses and associated layoffs. As part of the Bank’s efforts to help ease the financial strain that many households are experiencing during this period, the fee changes have been suspended.

“Customers may see notifications on their April credit card statements indicating that rate and fee changes have become effective, but that is not the case. Butterfield regrets any confusion this may cause.”

Earlier, Butterfield announced automatic payment deferrals on credit card payments during April and May, meaning customers can elect to not make minimum (or any) payments on their credit card accounts for the next two months, and late payment fees will not be applied.

Customers with questions or concerns about payment deferrals, they are encouraged to contact the Bank on 295-1111.

You must be registered or signed-in to post comment or to vote.

Published Apr 1, 2020 at 8:07 pm (Updated Apr 1, 2020 at 8:07 pm)

Butterfield suspends changes to card rates

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Views on schools reopening for 2019-20 year during coronavirus pandemic"
    • All schools to reopen once cleared
    • 32%
    • Older students only
    • 4%
    • Older students but for exams only
    • 12%
    • Remote learning only
    • 53%
    • Total Votes: 4058
    • Poll Archive

    Today's Obituaries

    eMoo Posts