Tag: money transfer services
![Money transfer stores to stay closed Money transfer stores to stay closed](http://caymannewsservice.com/wp-content/uploads/2015/12/JM-Money-Transfer-150x150.jpg)
Money transfer stores to stay closed
(CNS): The Cayman Islands Government is not going to allow money transfer stores that send cash overseas to open because it would create another very high risk opportunity for the coronavirus to spread through the Cayman community, Premier Alden McLaughlin has said. Worried that the situation at the banks is already a major problem, he […]
![Cash transfer firm blames local banks for business woes Cash transfer firm blames local banks for business woes](http://caymannewsservice.com/wp-content/uploads/2015/09/money-transfer-services-150x150.jpg)
Cash transfer firm blames local banks for business woes
(CNS Business): The chair of a Cayman-based Jamaican cash transfer company has made it clear that he believes the banks are to blame for the problems his firm and its affiliates are facing, as he encouraged customers of those banks who also use remittance services to raise their concerns and even implied they should boycott […]
![Bankers blamed for starting US$ black market Bankers blamed for starting US$ black market](http://caymannewsservice.com/wp-content/uploads/2015/09/Standing-room-only-at-the-meeting-hosted-by-the-Jamaican-Consulate-29-Sept-2015-150x150.jpg)
Bankers blamed for starting US$ black market
CNS): The local banking system has been blamed for starting the black market for US currency in the Cayman Islands, which is seen as a result of fees being charged to make exchanges and for their reaction to the risk issues associated with money transfer firms. More than 300 people, mostly Jamaicans, spilled out of […]
![Public meeting to discuss remittance issues Public meeting to discuss remittance issues](http://caymannewsservice.com/wp-content/uploads/2015/09/money-transfer-services-150x150.jpg)
Public meeting to discuss remittance issues
(CNS): The Jamaican Consulate is hosting a public meeting next week to discuss the issues surrounding money transfer businesses, which many people use to send remittances home to their native countries. Those businesses have recently begun to only accept US dollars, which is driving up exchange rates and fees and some banks are now limiting exchange […]