Scotia Reportedly Charges $385 Fee to Change $5,000 Note
Late last year Scotiabank Jamaica, after receiving a fair amount of backlash reverted a 1000 percent fee hike for customers who sought to encash cheques following widespread complaints.
The fee per cheque had risen from $385 across-the-board to $1,385 for cheques from other banks.
Now new complaints have reportedly surfaced regarding what many seemingly consider to be another unreasonable fee.
According to The Observer, customers of Scotiabank Jamaica are now required to pay a fee of $385 to change a $5,000 note into smaller denominations.
The newspaper states:
“Last month, customers of the institution filed complaints with the OBSERVER ONLINE after visiting the bank’s downtown Kingston branch with hopes of exchanging the $5000 note for smaller denominations, but were told by the teller that they had to pay a fee for the service.
OBSERVER ONLINE has confirmed the details with a representative from Scotiabank but efforts to get a response on when the fee hike became effective proved futile.”
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