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Scotia charges $385 fee to change $5000 note

Customers of Scotiabank Jamaica are now required to pay a fee of $385 to change a $5,000 note into smaller denominations. Last month, customers of the institution filed complaints after visiting the bank’s downtown Kingston branch with hopes of exchanging the $5000 note for smaller denominations, but were told by the teller that they had to pay a fee for the service. Currently, Scotiabank charges a minimum fee of $385 for the exchange of coins for paper notes along with the encashment of cheques.