Thank you for being a part of the VM Family and we take pride in providing you with the best service.

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Prosper Perkins
5 years ago
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1 FEES ADVISORY Dear Valued Member Effective August 15, 2016, we have made adjustments to some of our Service Fees. These changes have been made in line with our commitment to provide you with the highest level of service. However, as a Member of the VM Family, you will continue to enjoy NO fees for some of our services such as: Islandwide ATM Transactions (including non-vmbs machines on the MultiLink network) In-Store Debit Card Purchases (Point-of-Sale Transactions) Online Banking Transactions Dormant Account Maintenance Residential Mortgage Processing Thank you for being a part of the VM Family and we take pride in providing you with the best service. Please refer to the Guide below for a list of adjusted fees.

2 A LOCAL CURRENCY RELATED CHARGES 1. Local Cheque Withdrawal $ US$3.00 CAN$ Per cheque. 50% Discount to Premier Club Members/ Senior Citizens 2. Special Delivery Instructions $1, US$11.00 CAN$ Per Cheque. Plus local cheque withdrawal fee 3. Local Cheque Withdrawal valued at Over $1 Million 4. Returned Cheques 5. Stop Payment Order 6. Writing Back Cheques (change cheque to payor) 7. Local Transfers to Third Party Accts (via RTGS) - Outgoing - Incoming 8. In-Branch Local Cash Withdrawal 9. Local Currency Cash Deposits of $500,000 & over J$5, $2, US$39.00 CAN$ $ $ US$4.00 CAN$ $ $ $ Subject to 0.3% handling charge Per Cheque. Inclusive of other bank s charges. Insufficient funds, refer to drawer, technical reasons. Per Cheque. Fee includes respective charges from other local banks. Per Cheque. FREE for Premier Club Members. Fee does not include Returned Cheque Fee. Per Transaction. Applicable to all parties. Per Transaction. FREE for Premier Club Members Per transaction. 50% Discount for Premier Club Members. This fee may be waived at the discretion of the Branch Manager for New Members, Premier Club Members and Senior Citizens. B FOREIGN CURRENCY RELATED CHARGES 1. In-Branch Foreign Currency Cash Withdrawal 2. Foreign Currency Cheque Handling Charge $70.00 US$1.00 CAN$ Per Cheque. Fee inclusive of stamp duty cost. 3. Returned Cheque US$60.00 CAN$ Per Cheque. 4. Stop Payment Order US$25.00 CAN$ Plus external (foreign) bank charges. Per Cheque. 5. Foreign Currency Cheque Withdrawal - Special Delivery Instructions $1, US$11.00 CAN$ Per delivery. Plus Foreign Currency Cheque Withdrawal Fee. 6. Foreign Currency Draft (Sale of Foreign Currency) $ US$4.00 CAN$ Per draft. 50% discount to Premier Club Members. 7. Foreign Currency Cash Lodgement in excess of : - US$500 CAD$500 GBP 500 Cash Lodgement in excess of 500 units subject to 1.25% handling charge 1.25% of total excess amount. Fee is a recoverable cost levied on the Society. 8. Wire Transfer Fees: - Incoming - Outgoing US$25.00 CAN$ US$41.00 CAN$ Per wire. 9. Incoming Electronic Funds Transfer - Standing Orders & Pension Payments (UK) , & Over Or the JMD equivalent. Fee applicable for incoming transfers to Member s account(s). 1

3 C ACCOUNT RELATED CHARGES 1. Letters to Third Parties (same day processing) - Embassies & High Commissions, Confirmation of Balances, Reference Letters - Withholding Tax Certificate to Tax Administration Jamaica - Auditor s Confirmation 2. Standing Order (within VMBS) Set-up / Amendment Fee Transaction Fee Failure Charge 3. Online/Internet Banking 4. Utility Bill Payment Services (ONLINE) 5. Transfer of Funds Between Own Accounts - In-branch via ATM via Internet 6. Balance Enquiry In-Branch (or via Telephone Request) 7. Minimum Balance Violation Fee 8. Early Closure of Accounts (under 6 months): - Local and Foreign Accts 9. Letters of Undertaking to: - Developers & Vendors Attorney $2, US$20.00 CAN$ $6, US$50.00 CAN$ Per letter / per account. 50% Discount for Premier Club Members. Per Confirmation/per acct. Fee relate to accounts closed within six (6) months of opening. FREE for Premier Club Members Similar to Promissory Note but is tied to the Customer s Savings A/c. 10. Dormancy Fees - Local and Foreign Currency Accounts 11. Issuance of Passbook - New passbook Accounts - Replacement due to lost, stolen or completed 12. STATEMENT FEES (Savings & Time Accounts) 13. No Passbook Transaction Charge 14. No Certificate Withdrawal Charge 15. Lost Certificate $ US$6.00 CAN$ $ US$6.00 CAN$ FREE $ US$3.50 CAN$ $ US$3.50 CAN$ $ US$4.00 CAN$ FREE for Premier Club Members and Save2Grow Accts - Applicable to all Parties. Instant Statements on Savings & Time Accounts generated from online database. For passbook accounts. 50% Discount applicable to Premier Club Members 50% Discount applicable to Premier Club Members FREE for Premier Club Members 16. Photocopy of documents $ US$1.00 CAN$ Per Page. 50% Discount applicable to Premier Club Members. 2

4 D CARD RELATED CHARGES 1. Lost Premier Club Card $ US$4.00 CAN$ Applicable to all parties. 2. Lost/Stolen/Damaged ATM Card 3. Automated Teller Machine (ATM) Charges (VM Machines) 4. ATM MultiLink Charges (Using Other Bank s Machine) 5. ATM Point of Sale Charges - Multilink Network 6. ATM Transaction - Photo Request Contact Branch Manager Per Card. 50% Discount applicable to Premier Club Members. FREE for all VMBS Members using VM branded ATM Machines. Non-proprietary ATM Fees (Using Other Bank s ATM Machine). Non-proprietary ATM Fees (Using Other Bank s Services via the MultiLink Network). For customers wishing to investigate ATM transactions (using Multilink). E DEPOSITORY RELATED CHARGES 1. Safe Deposit Box - Rental (annual) - Key Replacement (minimum charge) - Late Fees (per month) $5, US$42.00 CAN$ Contact Branch Manager $ US$3.00 CAN$ Fee dependent on cost to replace lock (by locksmith). For each month the Safe Deposit Box Rental charge is outstanding. F PAYROLL SERVICES (BUSINESS) 1. Deposit to Employees Accounts Payroll processing services available to employers. G SHARE LOAN PROCESSING 1. Penalty Share Loans closed before maturity 2. Share Loan Processing Fee $ US$5.00 CAN$ FREE for Premier Club Members. 3

5 H MORTGAGE LETTERS TO THIRD PARTIES 1. Mortgage Status Letters to Members and Third Parties 2. Credit Letters: - Credit Reference Letter - Credit Bureau Report - Individuals - Credit Bureau Report - Business $2, US$18.00 CAN$ $1, US$10.50 CAN$ $1, US$10.50 CAN$ Plus fee for copy of title when required. 50% Discount to Premier Club Members. Fee for providing credit reference for Members. Fee for obtaining a credit report through Credit Bureau. Fee for obtaining a credit report through Credit Bureau. I MORTGAGE RELATED PHOTOCOPY FEES 1. Photocopy of Mortgage Deed 2. Photocopy of Title 3. Photocopy of Sale Agreement $3, US$25.00 CAN$ $1, US$10.00 CAN$ $1, US$12.00 CAN$ Fee per Deed. This includes the cost to open the title s envelop. FREE for Premier Club Members Fee per Title. FREE for Premier Club Members. FREE for Premier Club Members. Per sale agreement. J MORTGAGE RELATED FEES 1. Mortgage Processing Fees: - Residential - Commercial - Home Equity 2. Early Closure of Mortgage / Lump-sum Principal Payment 3. Discharge of Mortgage Fee (In house): - Local (JA$) $0 - $1 Million $1.1 Million - 15 Million $15.1 Million - 25 Million Over $25 Million 1.50% of the Loan Amount 2.0% of the Loan Amount 2.0% of the Loan Amount 90 days interest in lieu of notice $12, $20, $28, Contact the Branch Manager Currently waived for ALL Residential & Equity Mortgages. Fee non-refundable except when the loan has not been approved. 90 days notice is required for early closure / payment to principal. If required notice is not provided, 90 days interest payment is levied. Fee inclusive of all applicable Govt. fees such as Stamp Duty and Registration. Cost to release the Society s charge over a property when a mortgage is fully repaid. FX equivalent of J$0 - J$1 Million FX equivalent of $1.1 Million - 15 Million FX equivalent of $15.1 Million - 25 Million FX equivalent - Over $25 Million 4. Inspection Fees for Construction Loan: - Local (JA$) 5. Loan of Title Fee: - Local (JA$) 6. Safe-keeping of Unclaimed Titles (per annum) US$98.00 CAN$ US$ CAN$ US$ CAN$ Contact the Branch Manager $3, US$25.00 CAN$ $5, US$42.00 CAN$ $2, US$18.00 CAN$ Fee inclusive of all applicable Govt. fees such as Stamp Duty and Registration. Cost to release the Society s charge over a property when a mortgage is fully repaid. Per inspection where applicable. When an institution request to borrow the title of a property for a Member. Secure storage of title deeds following repayment of the mortgage (per annum charge) i.e. customers who have paid-off their mortgages but have not collected their title. 7. Transfer Subject to Mortgage $10, US$83.00 CAN$ Changing the names on the title & subsequently the mortgage. 4

6 K STATEMENT FEES 1. Mortgage Statement (Detailed) - First Statement (current year) - Subsequent and Prior Years Where a member requests a copy of a previously issued statement, an administration charge is applied. FREE for Premier Club Members. 2. Statement to Close $1, US$10.00 CAN$ Per request for first and subsequent requests within six months. FREE for Premier Club Members. L MISCELLANEOUS 1. Request for Sub-division of Title: - Local $5, US$42.00 CAN$ FREE for Premier Club Members, however all applicable Govt. fees will be charged. Effective: August 15, 2016 Please note that all fees listed herein are also applicable to Premier Club Members unless otherwise stated. The rates and details herein may be subject to change without notice. Charges include General Consumption Tax (GCT) of 16.5% unless otherwise stated. 5

SAVINGS SERVICE CHARGES

SAVINGS SERVICE CHARGES A LOCAL CURRENCY RELATED CHARGES 1. Local Cheque Withdrawal $350.00 US$3.00 CAN$4.00 2.00 Per cheque. 50% Discount to Premier Club Members/Senior Citizens. 2. Special Delivery Instructions $1,400.00 US$11.00