As We See It



Posted by Editor (Wendy) on Feb 03 2017 at 1:09 AM
As We See It >>

Over ten years ago, we predicted that it wouldn’t be long before our local banks mustered enough nerve to charge their customers to enter their facilities, based on their relentless drive to improve their enormous profits, while hiding behind the principles of “International Best Practices”, which does not take into account indigenous peculiarities in each country, this globalisation trick.

Predictably, the Private Sector Organisation of Jamaica (PSOJ), which probably has a handful of customers outside of Kingston, has come out against a plan by the government to regulate banking fees, describing the move as backward and a throwback to the past, price controls, while ignoring the callousness of some bank charges.

Today, our banks are encouraging its customers to stay away from its branches and instead using online banking to do transactions, even to open accounts, so in the future, we predict that banks will off-load their fancy buildings and have a few workers in a down-sized facility taking the odd call from theirs customers as they continue to rake in billions.  We shall see!