Sun | Feb 18, 2018

Scotia caught with pants down

Published:Saturday | March 11, 2017 | 12:00 AM



I write with regard to an article published in The Gleaner of March 7, 2017 about Bank of Nova Scotia making attempts to correct a charge of $385 for changing of $5,000 notes to smaller denominations.

The bank claimed this was a misunderstanding, and that it was never meant to affect customers who were changing less than $20,000. According to the deputy CEO, David Noel, "When we roll things out or try things, we do listen to feedback from our customers, and we don't always get it right, and when we don't, we try and make the adjustments that are fair and reasonable as quickly as possible."

Now based on that statement, are the customers to understand that if they did not cry foul, this charge would continue? Because with that remark, it is not coming across as an error.

I assume that there would have been some internal communication about this new charge before it took effect, so how on earth did ALL the branches misinterpret an obvious new policy in like manner by charging this $385?

I believe that once again Scotia got caught with its pants down and they are just trying to walk back the embarrassment. This is looking very bad, and this international bank may have just opened a can of worms on ordinary Jamaicans who would visit corner shops in their community to get change for their children lunch money, etc.

It is a possibility that they have created a new entrepreneurship that will only continue to squeeze the lower and middle class of this country. The smaller business units are probably going to be saying that if the bank is charging to change for smaller denominations, we can do it, too.

Bank of Nova Scotia, it is full time for you to get it right. This should never have been an error. Will those that were charged in error be refunded?