Banks Should Show Fees At ATMs Before Customers Complete Transactions – CAC
The Consumer Affairs Commission (CAC) is urging banks to ensure that customers are able to see fees at ATMs before completing transactions.
While speaking at a media briefing recently, Chief Executive Officer of the CAC, Dolsie Allen, reportedly stated that the agency has been lobbying for the practice to be implemented.
She stated:
“Well currently it is not in effect and that is why we are very concerned. Even with the enforceable quote from the bank of Jamaica, that was not included. And we believe as a consumer affairs Commission that has the concerns of consumers at heart that persons must be given the opportunity, whether they want to continue transaction or they wan’t to discontinue.”
“The fees must be displayed on the screen so you can make that choice. Information is key for us to make informed decisions.”
She also stated that banks have claimed that the cost to make adjustments to the software used by ATM’s to facilitate displaying the fees would be too great.
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