THE National Commercial Bank (NCB) in an e-mail to customers which it says is to remind them of services which are free, said it is also aiming to improve transparency for clients and “prevent surprises”.

The bank has come under fire in recent times for adding new charges for use of its proprietary ABM and increasing the fee for funds withdrawal from the Multilink network.

NCB’s main competitor, Scotiabank, has offered to delay fee increases for six months, while the islands third-largest commercial bank JN Bank is assuring the public that higher fees collected since 2020 are being used for charitable purposes.

NCB, for its part, has decided to refresh clients’ memory on how much they are already getting which is free of cost. They are also highlighting the cost of services.

The bank stated in its e-mail, “There has been a lot of talk about fees lately and we want to jump in to clear up a thing or two, so you’re in the know about all that’s free with your savings and chequing accounts, as well all the associated fees.”

The bank stated in the e-mail issued Monday night, January 31, the range of platforms and special accounts with reduced fees. These include free NCB ABM and NCB point of sale transactions for Quick Save and Gold Club accounts.

There is also free bill payment at iABMs, on the NCB mobile app and personal online banking, it was noted.

NCB states that it also offers free transfers between a customer’s own NCB accounts with NCB ABMs, on its mobile app and on its personal banking platform online.

It further listed that balance checks are free with the NCB mobile app, personal online banking, ABMs and kiosks, and there are free cash and cheque deposits at NCB iABMs. For cheques under $15,000 in branch, encashment is free.

NCB also says that payment of the product which attracts the highest interest, its credit cards, are free on its mobile app, at iABMs and in personal online banking. It noted also that if a client wanted to set up recurring payments and standing orders, they could do so without charge.

It also noted that NCB users of personal chequing get four free monthly ABM withdrawals and two free with regular save accounts. Fees of $25 and $35 are charged for extra transactions respectively.

Customers, it was noted, can withdraw up to $100,000 at a time once the ABM has enough $5,000 notes.

The bank concluded, “We’ve been banking for 185 years, and that means 185 years of customer feedback, so we’re always working with your needs in mind, balancing unparalleled access to your accounts – with over 20,300 ABMs and point of sales (POS) machines nationwide, plus the NCB mobile app, and personal online banking.

NCB said in its e-mail, “We’re always going to be transparent with you because we believe you should never be surprised by a fee you didn’t expect. Our fees are based on the cost of the benefits you receive. They are affordable, competitive, and designed so that they won’t get in the way of your financial goals.”