NCB increases in-branch transaction fees

The National Commercial Bank (NCB) has announced increases in fees charged to customers who visit a branch to access certain services.

A new fee of $1,165 will be charged to customers who inquire about their account balance via calling customer care or visiting a branch.

The current fee is $300.

The new rate of $1,165 will also apply to in-branch transfers between accounts and to third parties.

Currently, a fee of $291.25 is charged for in-branch transfers between NCB accounts, while a rate of $364.06 is applied for transfers to third party accounts.

Meanwhile, there are also to be increases in fees for transfers by foreign account holders between accounts.

The fee for US accounts will move up from $3.65 per request to $10.31, while the fee for Canadian accounts will move to $11.81, up from $3.91 per request.

And customers with a British sterling account will be charged $6.80 to transfer between accounts, up from $2.31.

The fee for EURO accounts will move up from $2.71 per request to $8.76.

NCB says the new fee structure will take effect on March 16.

The bank gave no explanation for the adjustment in the fee structure which is posted on its website.