Scotia bows to public pressure
Scotiabank Jamaica has taken steps to remove a bank charge for exchanging a $5,000 note for smaller denominations.
The bank says the charge will now only apply to persons who want to exchange $20,000 or more.
Deputy Chief Executive Officer of Scotiabank Jamaica, David Noel said that the charge was never designed for retail customers.
Customers of the bank recently complained about paying a fee of $385 for exchanging $5,000 notes for smaller denominations.
Noel explained that there was a charge for cash-for-cash exchanges which could include the changing of a $5,000 note.