Clarien Bank Announce Further Relief Efforts

March 18, 2020 | 2 Comments

In an effort to help the community during these challenging times, Clarien are temporarily waiving credit card late payment fees, credit card item overlimit fees, and loan late payment fees for all customers in March and April and are also advising customers that they can contact them may to report the financial impacts they are “expecting to experience and discuss possible solutions to their financial circumstances.”

A spokesperson said, “As a small, close-knit community, we understand that the effects of coronavirus [Covid-19] have the potential to impact our Island home greatly. Clarien is evaluating what we can do as a compassionate and client-driven bank to minimise hardship and reassure our customers in these challenging social and economic times. Our response will likely develop as circumstances change.

“We have recently launched a digital Covid-19 support tool, available directly on our web portal or by emailing covidimpactreport@clarienbank.com. This allows affected clients to report how their personal financial circumstances or businesses have been impacted by the global health pandemic. It also gives the team at Clarien a thorough understanding of the challenges being faced by clients so we can determine how we may be able to assist.

“Here are some of the immediate steps we are taking to provide relief to our customers.

“We have temporarily waived the following fees for all customers in March and April:

  • Credit card late payment fees
  • Credit card item overlimit fees
  • Loan late payment fees

“Existing borrowing clients, both Personal and Business may also reach out to us to report the financial impacts they are experiencing or expecting to experience and discuss possible solutions to their financial circumstances. This can be done by making a submission via our web portal or by emailing covidimpactreport@clarienbank.com or contacting their Relationship Manager directly.

These solutions may include:

  • Interest only payment periods
  • Skipped monthly loan payments
  • Increases in credit card limits

“We also encourage all customers to sign up for our iBank and iBank Mobile App, which is available for download in the Google Play and Apple stores. Use of digital banking will help clients to minimise their exposure to others when paying bills and conducting routine banking transactions. Set up can be done remotely. If you’re not yet enrolled on iBank, please contact our Client Services Centre on 296-6969 or email ServiceCenter@clarienbank.com.

“This is just a starting point. While it is impossible to predict the full impact of Covid-19 to the Island, we are doing our best to help clients with their financial concerns and needs. We thank you for your patience at this time as our employees work hard to lend support.

“Clarien is committed to meeting our clients’ needs and believe that by working together, we can weather this difficult storm. We continue to reach out to our customers in specific industry sectors, whom have been directly impacted by Covid-19, and are working to provide customised solutions to meet their needs.

“Last, but not least, we are closely monitoring the situation as it evolves and stand ready to provide further assistance to our customers.

“If you have questions or concerns, email us at covidimpactreport@clarienbank.com. Please also follow our social media pages and visit here for ongoing updates of Clarien’s response to the situation.”

You can view all our coverage of the coronavirus Covid-19 pandemic here, and our continuously updated live blog here.

click here Bermuda Covid-19

Read More About

Category: All, Business, News

Comments (2)

Trackback URL | Comments RSS Feed

  1. cool says:

    Hope the other banks are think of solutions like this rather than their bottom line.

  2. I'm just saying says:

    Is government gonna supply a stimulus package or some sort of financial assistance to those who have to be home and their employer won’t pay them because we all know that is gonna happen. Is Government going to pass legislation to force employers to pay if one of their employees have to be home because of the virusw?

Leave a Reply