Dear Editor,

 I run a small business here in Samoa, and to make life easier/costs for both my customers and me, I send all of my invoices via email.  

It is clearly stated on the invoices that I do not accept cheques or cash.  Payment is to be made only via Electronic Funds Transfer (EFT) or direct deposit into my account.  Easier for everyone.  You can imagine my surprise when last week I received an email from a regular customer stating that they were unable to deposit a payment (cheque) into my account.  

I had to go to the customer's premises, pick up the cheque, find a parking place near the bank, walk to the bank, stand in the queue and then wait for the deposit process to take place.  Walk back to the car, drive back to the office.  

You get the idea.  At least an hour out the window!  I wrote a letter of complaint to the bank and received a response stating that “third parties cannot deposit into accounts”.   This is news to me, but the bank stated that it had been policy for some two years and was introduced to stop money laundering.  

So the only way to get receivables into my account is via EFT or, if I physically go to the bank and deposit it myself.  If it is a matter of identifying who was making the deposit, then the bank should ask for identification (driver’s licence) of the person carrying out the transaction.  

The bank’s response further apologised for this inconvenience and suggested that my customers use EFT or have an authorised party (employee) do this for me.  As an extremely small business I do not have any employees so this means I either employ someone to perform these duties (on occasion) or waste my own time doing what should be a basic operation.  

The bank thanked me for my feedback and understood my concerns and further expressed their regrets for the inconvenience caused.  But tough, we are not going to think about it any further or take my (and I would imagine other Customers) concerns to the directing entity.  Unless, of course, this policy is confined to this one bank.  

But, this, of course, may be a way to force the bank’s customers into using EFT, which would lower their costs (handling) and increase their profitability. Moving to a cashless society and monitoring where you spend every cent of your money.  This, of course, may just be another example of government dictating to the people.  

BUT WHO CARES - Charlie Mansfield