mid the row between customers and commercial banks on the increase in fees amid the slow economic recovery and inflationary environment, JMMB Group Limited has welcomed the dialogue on fees charged by deposit-taking institutions (DTI) to transact services with their clients.

In a release on Monday, JMMB posited its stance on fairness and its guiding principles founded on love and standing in the best interest of all. This included listing four main principles around fees which include no “nuisance” fees, fees for cost recovery, fees for value-added services and waiving fees when JMMB falls short of its service delivery.

 

With respect to its no “nuisance” fees, JMMB outlined that it doesn’t charge people a fee to deposit or withdraw funds from their bank accounts in a JMMB Bank branch or apply an ATM fee for persons to withdraw funds. It further added that it has never charged a dormant account fee which was a source of controversy in March 2017 which saw the larger market players suspend the charge.

https://www.jamaicaobserver.com/news/jmmb-joins-bank-fees-convo_242800