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Not pleased with the fees, NCB
NCB's headquarters located on Trafalgar Road in Kingston
Letters
February 4, 2021

Not pleased with the fees, NCB

Dear Editor,

As a National Commercial Bank (NCB) customer for many years I am terribly disappointed with the complete disregard for customers’ money being displayed.

For over a month now I have been trying to get a reasonable explanation as to why I am being charged US$20 in intermediary fees for a wire transfer from my Jamaican US account to an account at JP Morgan Chase Bank in New York.

Let me add that this is exclusive of the wire transfer fees that NCB charges to carry out the wire transfer.

After waiting over a month for an answer I was recently told that the wire transfer in question went through the Bank of New York Mellon, which charges a fee of US$20 before it goes through to JP Morgan Chase Bank.

These are my questions to NCB:

1) Why is an intermediary bank being used to complete a transfer from Jamaica to New York when the transaction itself is to a bank in New York? Why is there a need for a middle man?

2) Why weren’t my previous transactions not charged a US$20 fee?

3) Is this a conspiracy to discourage customers from using an overseas brokerage house?

The overseas brokerage house to which the transfer was intended does not charge a fee for monies deposited to its account.

If anyone at NCB feels it is important to look into the matter the case number is CAS-577295-D4W2M7.

Every week NCB fills my mailbox with e-mail about loan offers, credit cards offers, and other products and services information, but fail to allocate the time to answer complaints promptly and to do whatever it can to keep customers happy.

I guess it’s just about the profits.

Distraught customer

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