THE EDITOR, Sir:
OF CAREFUL note is the Bank of Nova Scotia's recent announcement of new fees for banking services beginning January 1, 2002, as a follow-up to CIBC's move in 1997.
I however ponder the legality of said proposed fees without any public discussion, its customer base or for that matter any application, discussion or approval from the relevant banking authority here in Jamaica.
One is left to wonder if banks ought to just be allowed to pick their customers pocket when they feel like? Granted they claim to have invested millions in new technology but this is certainly not the manner in which to push customers to technology. So they now look to quickly recoup this cost in the shortest time possible as opposed to taking a long-term view on such a capital investment.
The Bank of Jamaica, which is the regulatory body for banks in Jamaica ought to look into this possibly illegal and heavy-handed tactics being employed by BNS.
On a personal level, I will be withdrawing my little funds from that bank and would advise other disgruntled customers to do likewise. Or better yet, maybe we should all let BNS go ahead with its plan and then file a class action suit seeking redress in the courts against such. Wishful thinking?
I am etc.,
C. BOWEN
ridim1027@yahoo.com
Montego Bay
Via Go-Jamaica
