Our favourite thing about the social web is the conversations we get to have with our online community. A recurring topic we’ve noticed lately has been dormant accounts – “I used to have an account with VMBS. Is the money still there?”, “I just found my old passbook and memories of opening my first account with a VMBS rep at my school came flooding in!” or “My mother opened a savings account for me when I was younger, but I lost the passbook”. We’ve heard a range of stories, but whether you opened your account when you had to stand tip-toed to see the teller, or you haven’t used it since bell-foot pants, our answers usually boil down to pretty much the same thing: “If you didn’t close it, your account is still here, just check with us … and welcome back!”
Our dormant account policy is just one of the ways we keep our Members happy, but we’ve realised through our conversations with many of you that our policy is uncommon and deserves a bit more fanfare. So here it is: we won’t shut down your account, and we don’t charge fees on dormant accounts, it’s $0, whether you have $1,000 or $100,000 in it. And yes we’re proud to say that $0 is a lot lower than the national Jamaican bank average of over $500 in annual dormant account charges. You did the work to save for your account so the money stays yours, and it even gains interest. All you need to do is reactivate, it’s like finding money growing in your jacket pocket, and quite a few of our members have been happily reuniting with the VM Family as a result.
We’re big fans of our Members. Your stories of saving are what it’s always been about for us, so our zero-charge policy on dormant accounts isn’t the end of our ‘fee-free zone’ (HT @TheNEWGURU for that one!). We also offer zero fees on your ABM card, VM Express Online transactions, cheque deposits, and monthly maintenance just to name a few more. In this time of rising prices and falling interest rates we’re also glad to offer our Members higher rates on savings than other institutions. We’re here to help you save after all, not get in the way of growing your savings. We’re also here to give you a challenge, it’s called ‘Just Check!’ and it’s for you and everyone you know.
So all VMBS Members whether you’ve been with us all along or have recently returned, we’re challenging you to spread the word to everyone to your left and your right:
- If you’re a Member and you think you could be saving more towards your goal – Just Check! We’re glad to offer you free advice.
- If you’re aren’t a VMBS Member yet, Just Check! Find out how much your savings account is earning in interest and how much you are losing to fees.
- Now for the final category – if you’re not sure you’re a Member Just Check! Turns out quite a few of you have lost track of some of your savings, and we’re challenging you to get going again. Because if you’re a saver there’s no better place to be, and if you doubt that for even a second – Just Check!
Call 876-754-7000, visit http://justcheckvmbs.com/ and come on by your nearest branch.