Butterfield’s COVID-19 Response
As the world faces an expanding health crisis, Butterfield is taking steps to protect the health of our customers and employees, and ensure we are well positioned be able to continue to serve our customers’ financial needs during the COVID-19 outbreak:
- We placed a moratorium on all business travel on 6 March 2020, and implemented stringent return-to-work protocols (including self-isolation requirements) for employees returning from travel abroad
- We are encouraging employees to cancel all non-essential personal travel
- Across all of our locations we have split our teams across buildings and floors and/or shifts to minimise the possibility of the virus spreading among staff, and where possible are allowing employees to work from home
- We will discontinue Saturday Banking in Bermuda and the Cayman Islands until further notice (as Saturday Banking staff comprises employees who work at different Banking Centre locations during the week)
- We are enforcing social distancing among customers in Banking Centres and have moved to reduced Banking Centre hours in all locations
- We have enhanced our cleaning regimen in Banking Centres and offices, and made hand sanitiser available throughout our premises
- We have cancelled large employee, customer and sponsored community events
In keeping with direction from local governments for people to exercise social distancing and avoid congregating in large numbers, we encourage our customers to make use of electronic banking channels (online, mobile and ATM) rather than visiting our Banking Centres. You can similarly speak with our consumer lending team about borrowing solutions over the phone rather than visiting our offices.
As a reminder, Butterfield will never request your online banking credentials by phone or
e-mail, and you should never click on a link in an e-mail asking you to “unlock,” “reset” or “activate” your online access. If you suspect you’ve received a fraudulent communication purporting to be from Butterfield, you can report it to firstname.lastname@example.org.
With recent market volatility, and the potential for significant economic impact on many businesses amidst the crisis, we know that some customers are anxious about their investment portfolios and their ability to service debt. We want you to know that if you have concerns about your investments or your loans, you shouldn’t hesitate to call us. We are committed to assisting customers through this challenging period, with help, advice and flexible solutions.
On 16 March, we dropped our personal lending rates at our community banks in Bermuda and Cayman, and across the Group we’re reviewing fee schedules and terms on a range of products, including providing extensions on repayment of credit card balances. On 18 March, we announced payment deferrals on credit cards, personal and small business loans, and residential mortgages in Bermuda and Cayman to assist customers facing difficulties associated with temporary business closures and the interruption to tourism on the islands.
These are challenging times, but over our 162 years in banking, we’ve helped our customers through periods of uncertainty before, and we're committed to working with you to get through the COVID-19 crisis, as well.
Thank you for putting your trust in Butterfield.