First Citizens has imposed a $1.25 processing fee on its customers for transactions to other local banks via online banking or their mobile app.
In a notice to customers yesterday, First Citizens said the fee will be applied from June 17.
“The fee helps us ensure our commitment to providing the very best online banking services to you, our customer,” according to the notice it sent out to customers.
First Citizens also added that online bank transfers to local third party financial institutions have been made quicker and easier.
“These payments will now be completed within two business days,” the bank said.
It noted that some clients who attempted to make payments to certain banks were unable to successfully complete their transactions.
First Citizens said to avoid such issues, depending on the payee bank, certain information may be required when making online or mobile banking payments.
These include the transit number which must be entered before the account number, and said customers must omit “.00.” before the account number noting that the transit number is five digits and the account number is seven digits (total of 12 digits), the recipient’s name is mandatory and customers must ensure the account number is valid. First Citizens also noted that the account number must not exceed the maximum length.
The account number must not include special characters, the bank also advised.
Additionally, First Citizens said credit card payments to other banks cannot be made via First Citizens online banking.
“We, therefore, recommend that payments be made to an account at the other credit card issuing bank. Once credited to the other bank account, payment to the other banker’s credit card can then be made via that bank’s online banking platform,” it added.