The long awaited
list of bank charges has finally been published.
The list printed in Monday's newspapers, details 31 different services for which charges are levied by five local banks and the amounts charged by each institution.
Compiled by the Consumer Affairs Commission (CAC) the list covers everything from Certification of Accounts to Online banking with the highest charges listed in red and the lowest printed in green.
First Global Bank (FGB) had the highest rate of $2,000 for Certification of Account balances while National Commercial Bank had the lowest rate of $810 for the same service.
Manager's cheques will cost clients of the Bank of Nova Scotia (BNS) $350 while the same service costs $200 at RBTT.
For non customers at BNS, the charge for Manager's cheques is $870, while non-customers at First Caribbean International Bank (FCIB), enjoy the lowest fee of$260 for the service.
At $100, BNS also has the highest rate for In-Branch Transaction fees, which include withdrawals and deposits, where most other institutions offer the service free.
Of the five banks surveyed, First Global Bank had the highest rates for Dormant Savings Accounts, Early Closure of Account and Returned Cheques at $600, $2,000 and $850 respectively.
FCIB had the lowest rates for all three services.
BNS again had the highest rates for the use of a multi-link machine for withdrawals approved and those declined, at $45 dollars, $27.30 cents respectively.
FGB had the lowest rates for both services at $31 and $19.34.
BNS also had high ABM rates at $30 each for withdrawals and transfers between accounts and $20.70 cents for a mini-statement.
Of the other four banks surveyed the services were free or not offered.
The survey of bank charges was conducted between May 19 and June 17.
The CAC noted that Pan Caribbean Bank was omitted from the survey as rate information from that institution did not arrive in time for publication.
It also noted that most banks offer concessionary rates to senior citizens and that in branch services to which fees are attached could be conducted via internet or telephone banking free of charge.
The list was published as part of the Commerce Ministry's efforts to give consumers information to make informed choices.
The list printed in Monday's newspapers, details 31 different services for which charges are levied by five local banks and the amounts charged by each institution.
Compiled by the Consumer Affairs Commission (CAC) the list covers everything from Certification of Accounts to Online banking with the highest charges listed in red and the lowest printed in green.
First Global Bank (FGB) had the highest rate of $2,000 for Certification of Account balances while National Commercial Bank had the lowest rate of $810 for the same service.
Manager's cheques will cost clients of the Bank of Nova Scotia (BNS) $350 while the same service costs $200 at RBTT.
For non customers at BNS, the charge for Manager's cheques is $870, while non-customers at First Caribbean International Bank (FCIB), enjoy the lowest fee of$260 for the service.
At $100, BNS also has the highest rate for In-Branch Transaction fees, which include withdrawals and deposits, where most other institutions offer the service free.
Of the five banks surveyed, First Global Bank had the highest rates for Dormant Savings Accounts, Early Closure of Account and Returned Cheques at $600, $2,000 and $850 respectively.
FCIB had the lowest rates for all three services.
BNS again had the highest rates for the use of a multi-link machine for withdrawals approved and those declined, at $45 dollars, $27.30 cents respectively.
FGB had the lowest rates for both services at $31 and $19.34.
BNS also had high ABM rates at $30 each for withdrawals and transfers between accounts and $20.70 cents for a mini-statement.
Of the other four banks surveyed the services were free or not offered.
The survey of bank charges was conducted between May 19 and June 17.
The CAC noted that Pan Caribbean Bank was omitted from the survey as rate information from that institution did not arrive in time for publication.
It also noted that most banks offer concessionary rates to senior citizens and that in branch services to which fees are attached could be conducted via internet or telephone banking free of charge.
The list was published as part of the Commerce Ministry's efforts to give consumers information to make informed choices.
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