National Commercial Bank- NCB To Reimburse Dormant Fees

Jamaica (McKoy’s News)- National Commercial Bank- NCB To Reimburse Dormant Fees: National Commercial Bank, the NCB is to reimburse fees charged for dormant accounts.

A circular released by the bank states that the fees will be reimbursed when an account is reactivated or closed.  It says in cases where minimum balance fees are also generated to an account as a result of the dormant charges, the figure should be included in the amount being refunded.

NCB in March suspended charges applied to dormant accounts.  A charge of $450 plus GCT was previously applied to business and personal accounts classified as dormant.

Accounts are classified as dormant if there is no customer activity for two years for saving accounts and one year for current accounts.

In a related matter, Fitz Jackson, Member of Parliament for St Catherine Southern and Chairman of the People’s National party, who has been leading the fight against bank fees, has raised concern about the lack of assistance he has received from the Government in re-drafting his private members’ bill which proposes to amend the Banking Services Act.

Mr Jackson withdrew the Bill from the House of Representatives earlier this year to make adjustments.  He promised that it would be reintroduced.  However speaking at this week’s Parliament’s Public Administration and Appropriations Committee, Mr Jackson said he has been forced to seek help from a private Attorney as the Attorney General’s Department and the Chief Parliamentary Counsel have been given him “the run-around.”


Contributed by Dr Colin O Jarrett

Please send us your Feedback, News Item, Photos and/or Videos to our WhatsApp Number 1-876-353-1389 or Email [email protected]

Recently Published

edmund 1`123

Global Tourism Resilience and Crisis Management Centre to Be Opened Soon

Jamaica News: The Global Tourism Resilience and Crisis Management Centre is be opened soon at the University of the West Indies, Mona campus. It is aimed at assessing, forecasting, mitigating and managing risks related to tourism resilience, caused by various disruptive factors. These disruptions may include climate change and natural disasters, cybercrime, cybersecurity, pandemics, terrorism, […]


Young Jamaicans Encouraged to Adopt Wholesome Values and Attitudes

Jamaica News: Minister of Education, Youth and Information, Senator the Hon. Ruel Reid, is encouraging more young Jamaicans to adopt wholesome values and attitudes that will transform their lives, while reinforcing positive and law-abiding behaviours. Senator Reid was speaking at the ‘Best Dressed Chicken 60 School Tour’, held at Sabina Park in Kingston on January […]

Governor-General Sir Patrick Allen

PHOTOS: G-G and JDF Officers

  Governor-General, His Excellency the Most Hon. Sir Patrick Allen (centre), with (from left): Lieutenant Keith Eubanks; Major Aubyn Sibblies; Commander of the Jamaica Regiment, Colonel Radgh Mason; Major Emmart Stewart; Captain Calvin Dryden; and Warrant Officer, Class One, Terence Marriot, when they called on him at King’s House, on Tuesday (January 15).     […]

Nigel Clarke7890876564

House Approves Second Supplementary Estimates

Jamaica News: The House of Representatives on Tuesday (January 15) approved the Second Supplementary Estimates, which show that the Administration is to spend an additional $11.45 billion for this fiscal year. The Estimates reveal that the Budget has been increased from $791.11 billion to $802.56 billion. Recurrent (housekeeping) expenses have moved from $572.46 billion to […]

reggae 6798

Reggae Girlz to be Honoured in Washington DC

Jamaica News: The Reggae Girlz, the country’s senior national female football team, will be the toast of Washington DC on Saturday, January 19, when the 7th Annual Jamaica David “Wagga” Hunt Scholarship red carpet fundraiser will be rolled out. Deserving students at Kingston College and Calabar High School in Kingston will benefit from all of […]

Hon. Andrew Holness (6)

Prime Minister Calls for More Jamaicans to Get Involved in Agriculture

Jamaica News: Prime Minister, the Most Hon. Andrew Holness, has heightened the call for more Jamaicans “from all walks of life” to venture into agriculture, emphasising that the sector is an important contributor to the growth of the Jamaican economy. “We should never limit agriculture, because the moment that we limit agriculture to being merely […]