Business

Popular Directed to Reimburse St. Johnians for ATM Fees; Banking Board Approves $4 Per ATM Transaction Fee for Non-USVI Banks

The USVI Banking Board on Tuesday approved a motion directing Banco Popular to start the process of reimbursing its St. John customers who are currently using non-Banco Popular ATMs for transactions. The action was needed because Banco Popular was no longer at its prior location on the island, which has forced the bank's customers to use other ATM machines where fees are assessed. The board also approved a motion to allow non-bank ATM providers in the territory to charge up to $4 per terminal transaction for customers of non-USVI financial institutions.  Oran Roebuck, senior vice president of Popular's Virgin Islands Region, said the lease of the prior location expired. “After that expiration we have moved forward to identify an alternative location," adding that "Banco Popular has every intention to continue to provide ATM services on the island of St. John.” Ms. Roebuck said during the meeting that the bank has a “gentlemen's agreement” with a potential landlord for a new location...