Opposition calls on NCB to go further with dormant account fee suspension

by March 15th, 2017

Opposition parliamentarian, Fitz Jackson, says the National Commercial Bank (NCB) needs to go further with the suspension of the fees charged on dormant accounts.

The bank announced today (Mar 15) that it was indefinitely suspending the fees charged on dormant accounts.

Mr. Jackson has been strident in his opposition to the fee, calling its application unreasonable and illegal, and a violation of the banking services act.

Mr. Jackson has described the suspension as a good first step, but has called for the bank to refund the money that has already been withdrawn for fees.

Mr. Jackson says, the imposition of the dormancy fees is a breach of trust.

Mr. Jackson has called on all other banks to follow the example set by NCB, in rescinding the fees charged on dormant accounts, and has called for more agitation from civil society, against what he has described as an act of contempt on the parts of the banks.