Sun | Sep 23, 2018

Why didn't bank call me?

Published:Friday | February 3, 2017 | 12:00 AM


Imagine that! I migrated to the United States in the quest for a better life. With no immediate plans to return to Jamaica, I sold my few assets and put the proceeds in my bank account and was promised an annual interest. The amount in my account, I thought, would continue to increase with each interest payment until my return to Jamaica.

After 20 years overseas, tragedy struck, and in quick succession I lost my job, lost my house, and I was eventually deported.

I was consoled by the memory that my savings back in Jamaica was a tidy sum, and with so many years of interest added to it, I should be able to survive until I got myself together again.

Can you imagine my mental status when I discovered that my bank account was depleted and all my funds were gone? Why? Because there was no activity on my account for some time?

What of the interest that my account should have been accruing over the years? How is it that nobody from the bank bothered to contact me to advise that my account was in trouble because of lack of activity? Better yet, what of my interest payment?

Why do the banks continue to confiscate people's hard-earned savings under the disguise of 'dormant accounts'?

I salute parliamentarian Fitz Jackson for not only initiating public discussions on a matter that has been gravely disturbing and depressing for Jamaicans.