Fee Schedule
* All fees are quoted in Jamaican Dollars
Debit Card
| DESCRIPTION | FEES/ SERVICE CHARGE |
|---|---|
| Withdrawal | $96.00 |
| Balance Inquiry | $62.00 |
| Declined ABM | $62.00 |
| Point- of- Sale | $23.00 |
| Point- of- Sale-Declined | $23.00 |
| Deposit | $20.00 |
| Transfer | $25.00 |
| Replacement Card (i.e when card is not defective or retained by ATM) | $1,265.00 |
| ATM Photo Request | $2,875.00 |
| Hot Card Pick-up | $2,200.00 |
Accounts Related Charges
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Rule Book | $1,150.00 |
| Entrance Fee | $400.00 |
| Annual Maintenance Fee charged biannually | $500.00 |
Services/ Miscellaneous
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Photocopying per page | $100.00 |
| Priority Mail (sending mail on members behalf) | $800.00 |
| Reactivation Fee | $250.00 |
| Power of Attorney Form | $400.00 |
| Voucher Search: | |
| Less than 30 days | $1,150.00 |
| 30 days – 1 year | $2,000.00 |
| 1year – 7years | $3,500.00 |
| Standing Order (per transaction) | $250.00 |
| Hypothecation of Members’ Funds – external institutions | $3,450.00 |
Insurance Death Claims
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| $100 – $10,000 | $2,000.00 |
| $10,001 – $50,000 | 5% of the insurance received minimum of $2,000 |
| Over $50,00.01 | 10% with a cap of $5,000.00 |
Delinquency
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Storage Fee | $250.00 per day plus storage facility |
| Bailiff Fee | $2500.00 plus bailiff charge |
| Regular Mail | $100.00 including the postal charges |
| Registered Mail | $250.00 including the postal charges |
| Stationery Fee – Demand And 72hrs Notices | $550.00 |
| Stationery Fee – Seizure Order | $2,000.00 |
| Legal Action Account | $2,000.00 + Court and Bailiff and |
| Mortgage Foreclosure Action | $2,000.00 + associated cost |
| Call-In Of Hypothecated Funds from Other Institutions | $1,500.00 |
| Insurance Policy Encashment | $1,500.00 |
Custodial & Safety Deposit Boxes (Per Annum)
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Safekeeping of unclaimed titles (per annum) | $2,500.00 (members who paid-off loan and not yet collect titles) |
| Lost or broken key replacement cost plus service charge | $1,800 + GCT + Invoice cost |
| Dimension in cm small (3*10) | $4,000 + GCT p.a |
| Dimension in cm large (5*10) | $7,500 + GCT p.a |
| Visit to safekeeping | $400.00 |
| Late Fees (per month) | $350.00 |
| Duplicate Key | $1,000 + GCT |
Cheques
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Cheque Withdrawal Request | $500.00 |
| Local Cheque Withdrawal Valued at Over $1 Million | $6,825.00 per cheque |
| Cancellation of Cheque & New Cheque Requested | $500.00 |
| Local/Foreign Returned Cheque | $1,150.00 + bank charges |
| Stop Payment | $1,150.00 + bank charges |
Statements & Reports
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Nomination Form Request | $300.00 |
| Member Status Letters: | |
| Simplified status letter – same day | $1,200.00 |
| Simplified status letter – next day | $1,000.00 |
| Next Day | $2,100.00 |
| Same Day | $2,600.00 |
| Letter of Confirmation: (Audit Purposes) | |
| Regular | $3,500.00 |
| Same Day | $4,500.00 |
| For Insurance purpose – active accounts | $1,500.00 |
| For Insurance Purposes Dormant account | $2,000.00 |
Accounts
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| ACH Fee | $170 + GCT |
| RTGS Fee | $420 + GCT |
Statements & Reports
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Nomination Form Request | $300.00 |
| Member Status Letters: | |
| Simplified status letter – same day | $1,200.00 |
| Simplified status letter – next day | $1,000.00 |
| Next Day | $2,100.00 |
| Same Day | $2,600.00 |
| Letter of Confirmation: (Audit Purposes) | |
| Regular | $3,500.00 |
| Same Day | $4,500.00 |
| For Insurance purpose – active accounts | $1,500.00 |
| For Insurance Purposes Dormant account | $2,000.00 |
Loans
| DESCRIPTION | FEES/ SERVICE CHARGES |
|---|---|
| Loan Processing Fee | |
| Cash Secured (Internal)Fee exemption: Member aged 55 and over | 1% of loan amount to a cap of $4,000 + GCT |
| Cash Secured (External) | 1.5% of loan amount to a cap of $8,000 + GCT |
| Loan Amount Less than $20M | Loan amount less than $20M at 2% of the loan amount with a cap of $200,000 |
| Loan Amount Over $20M | Loan amount of $20M or more at 2% of the loan amount with a cap of $300,000 |
| Credit Information Search | $1,500.00 per search |
| NSIPP | $3,500.00 |
| Lien Discharge | $700.00 |
| Replacement of Lien Discharge | $1,500.00 |
| Mortgage Discharge | $1,500.00 |
| Postage | $100.00 |
| Statement of Account | $1,000.00 |
| Late Fee After 9 Days | 5% of loan payment |
| Mortgage – Attorney Fees | 1% of principal* |
| Inspection Cost | Per Bailiff Schedule |
| Letter of Guarantee | 1% of principal + GCT from a min $500to Max $5000 |
