Moving Back to Jamaica

A blog about my Move Back to Jamaica after 20+ years of living in the US. Most of the articles focus on the period from 2005-2009 when the transition was new, and at it's most challenging.

Monday, July 09, 2007

A Nasty New Fee

I just noticed that my bank statement has a nasty new fee for every purchase I make here in Jamaica.

All of a sudden, there is a 3% fee on every single transaction conducted here in the Caribbean. Last month I paid US$50 in these new fees.

While the exchange rate has been moving in my favour, from J$62 to J$68 to US! in two years, inflation and this new fee have reversed any possible gains.

From here in Jamaica, I have a sinking feeling that there is not much that I can do about this, but I will look into, just in case it is a fee that Bank of American is thinking that it can get away with without too many people complaining.

We shall see.

1 Comments:

At 9/22/2007 7:21 AM, Anonymous Anonymous said...

I just traveled to Mexico and noticed this same fee from BOA & M&T Bank on purchases. Had I known this would have changed the way I used my cards. Withdrawing a lump sum from the ATM in Pesos was cheaper.

 

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