Mike Henry raps banks’ money transfer services

Thursday, June 05, 2014 | 7:26 AM    

Print this page Email A Friend!

KINGSTON, Jamaica -- Opposition MP, Mike Henry (Central Clarendon), has questioned the withholding of foreign cheques and bank drafts by commercial banks for more than 21 days, before they are cleared.

Henry, who was speaking in the sectoral debate in Parliament Tuesday, suggested that the issue should be included in current discussion on banks fees by a parliamentary committee.

“Are we aware that commercial banks hold foreign cheques and bank drafts for 21 business days? When you add week-ends, it is a month. How can a small business survive?” Henry asked his colleagues in the House of Representatives.

“Yes, we can go the route of wire/telegraph transfers, but the sender has to pay an exorbitant fee to send it and the recipient pays an exorbitant fee to receive it. Whichever way you go you are disenfranchised,” Henry the owner of a publishing house said.

The House of Representatives’ Economy and Production Committee is currently looking at fees local commercial banks charge their customers.

Balford Henry





1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus


Who should succeed Portia Simpson Miller as PNP president?
Wykeham McNeill
Peter Bunting
Peter Phillips
Lisa Hanna

View Results »


Today's Cartoon

Click image to view full size editorial cartoon