I couldn’t find this anywhere else online so I thought it would be a great reference for the people who care.
These figures may seem negligible to many, but they add up. Especially if you do point of sales transactions regularly. Let’s say you use your scotia card on average once daily, that’s $115.5 weekly, $511,50 monthly or $6,022.50 yearly. Many of us more than one bank so that’s a conservative figure. Also take into consideration ABM charges etc. Another good thing about tracking bank charges is that it’s easy for them to charge you in error without you noticing, especially if you have large balances.
I will add more banks to this chart in the future and also update them as the bank changes them.
Feel free to scrutinize my figures.
The figures quoted from Scotia are for their regular savings account.
You can avoid Scotiabank’s charges (for their POS and ATMs) with their Electronic Access Account with a flat figure of $190 per month
You can avoid all of NCB’s charges (for their POS and ATMs) with their midas plus facility. Unlike Scotia’s $190 charge, NCB’s MPF is free.
Scotiabank charges 2% for all online visa debit transactions.
Scotiabank’s and First Global’s fees will be raised as of May 1, 2013. Chart shows new fees.
If your Jamaica National account goes below $2,500 JM $75 is deducted monthly.
NCB Fee guide: http://jncb.com/docs/NCB_Fee_Guide.pdf
First Global Bank: http://www.firstglobal-bank.com/news/newsarticle.aspx?id=95&cat=1 (Rates are being modified on May 1, 2013, table reflects such. )
ScotiaBank: http://www.scotiabank.com/intl/jm/PDF/about/Schedule_of_rates_v5.pdf (Rates are being upgraded on May 1, 2013), table reflects said charges. )
Jamaica National: I couldn’t find a fee guide from their website so I got the information from their customer. The name of the CSR that I spoke to was Kimberley. Customer care # is 1876- 5343