Pacific

Bank of Wallis and Futuna reassures customers over deposits

13:50 pm on 23 November 2019

The Bank of Wallis and Futuna has reassured customers that they have full access to their deposited funds.

Photo: 123RF

The bank's director Maurice Lasante has given the assurance on television after complaints about new restrictions on cash withdrawals.

The public had earlier been advised that monthly withdrawals were limited to $US1000 a month to comply with French laws aimed at curbing money-laundering.

This was reported to be inconvenient for some business owners who needed to pay their staff in cash because many did not have bank accounts.

However, Mr Lasante said customers have access to all of their money - be it at the bank booth or at the cash machine.

He has also encouraged customers to use online banking.

The Bank of Wallis and Futuna, which is the territory's only bank, is a subsidiary of PNB Parisbas.