Fee frenzy
Large institutions prioritise profit, small banks cut costs for customers
ORDINARY Jamaicans navigate a labyrinth of banking fees with charges for basic services varying by as much as 1,000 per cent across institutions, a Jamaica Observer analysis of 2024 regulatory data reveals.
The disparity, documented in central bank filings, highlights how low-income households bear the brunt of punitive charges, while larger commercial banks—flush with capital and liquidity—leverage their dominance to prioritise profit over affordability.
The disparities are exposed in the f...
