New Threshold Limit for the Automated Clearing House
Effective March 1, 2013 the fee for transactions of J$3 Million and over cleared via the Automated Clearing House (ACH) will be:
J$5,000 plus GCT per item
This includes all Cheques, Manager's Cheques and electronic payments that are negotiated by other commercial banks.
As an alternative, customers are encouraged to use the same-day Real Time Gross Settlement System (RTGS) at a fee of:
J$148.72 online or J$209.70 (in branch)
Speak to your branch representative today about using RTGS.
ACH - Facility used for electronic processing and clearing of cheques between commercial banks.
RTGS - It facilitates real time processing of large value transactions between banks.