ScotiaBank Rolls Back $385 Charge For 'NON BUSINESS PEOPLE'

Scotiabank Jamaica has quickly taken steps to remove the bank charge for exchanging a $5,000 note for smaller denominations, saying it was being incorrectly applied to some customers.

According to soctiabank, the charge will now only apply to persons who want to exchange $20,000 or more.

The bank says instructions have been given to all branches to discontinue the charge.  

Deputy Chief Executive Officer of Scotiabank Jamaica, David Noel told The Gleaner today that the charge was never designed for retail customers.

Customers of the bank recently complained about paying a fee of $385 for exchanging $5,000 notes for smaller denominations.

Noel explained that there was a charge for cash-for-cash exchanges which could include the changing of a $5,000 note.

But he said the charge was intended for business people who are doing larger cash-for-cash transactions.

"We did not intend it to apply to the smaller customers but to avoid any further confusion we have made it very clear to our branch network that that fee will not apply," he said.

"When we roll things out or try things we do listen to feedback from our customers and we don’t always get it right and when we don’t, we try and make the adjustments that are fair and reasonable as quickly as possible," the deputy CEO noted.

In December the bank also rolled back the cost to encash cheques drawn on other banks.

Click to listen highlighted text! Powered By GSpeech
You've just won $ worth of mobile credit!
What do you want to do next?

REQUEST MOBILE CREDIT NOW

IGNORE THIS OFFER, SPIN TOMARROW

SHARE MORE ARTICLES FOR ANOTHER DAILY SPIN

PLEASE NOTE

This system is not affilated with any of the service providers listed.
The information you are submitting will only be used to receive your mobile credit.
At this point you can choose to cancel this dialog box and/or contact us via our Facebook Page @newsbugmedia for more information.
Digicel
Lime
SPIN 'N' WIN
 
Now you can win instant mobile credit whenever you share articles from Newsbugmedia.com!
This is our unique way of saying thanks to our fans and followers.
- Go ahead and spin the wheel -
BANKRUPT!
Looks like your out of this game for the next 4 or 5 days!
YOU GOT LUCKY!
Looks like you got another chance to SPIN!
YOU HAVE LOST YOUR TURN!
See you again in 24 hours.

THANKS FOR PLAYING!

Your mobile credit will be delivered shortly
Keep sharing articles for more chances to Win!

Create an account to see hidden contents on articles.

Members get full access to all features for FREE!

LOGIN WITH FACEBOOK | NOT NOW