Effective December 19, 2022, VM Group is set to hike the fee for using its Real Time Gross Settlement (RTGS) for the transfer of money locally.

The fees, which were discounted in 2020 in order to help alleviate the impact of COVID-19 on customers, will be brought back up to their pre-pandemic levels.

According to VM Group, “now as the world returns to normal, we will be reverting to the original RTGS transaction fee for transferring and receiving funds locally”.

RTGS in-branch fee will move from J$324 to J$395 per transaction; RGTS on-line fee goes to J$148, up from J$77 per transaction, while RGTS in-coming fee rises from J$57 to J$128 per transaction. RTGS in-coming with missing data will now cost J$365 per transaction, up from J$294 per transaction.

The financial services group reiterated that, even with the fees reverting, “the charges remain amongst the lowest for this service in Jamaica and reflect our commitment to always offering our members the best rates and unique benefits to help you achieve financial well-being”.