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Kingston, Jamaica (McN) — Scotiabank announced today in a news release that effective immediately, they are suspending fees, currently charged on inactive accounts.
Scotiabank of Jamaica issues a release on Thursday afternoon, March 23, stating that the move to suspend the fees for dormant accounts with the bank is a part of the bank’s ongoing review of fees.
The bank’s Deputy CEO, David Noel states that the bank is seeking to put into practice the best options to effectively manage costs, while continuing to efficiently meet the changing needs of their customers.
Noel said that there is a cost to the bank in managing dormant accounts, but, they are working assiduously to identify new solutions for managing these costs as well as the overall processes surrounding the treatment of dormant accounts. He said they will continue to invest in technology and alternatives to enhance the banking services offered to our customers.
Scotiabank has been in the media recently for customers backlash on the banks fees.