Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Keva rarely used the Card for Point of Sale transactions; she preferred carrying cash in her possession to buy goods and pay for services. As

Keva rarely used the Card for Point of Sale transactions; she preferred carrying cash
in her possession to buy goods and pay for services. As her payroll was instantly
transferred to the Account by direct deposit from her employer, she would make a
weekly trip to the ATM, to withdraw cash that she needed to cover her expenses for
this week.
Since the opening of the Account, the Bank did not issue to Keva printed statements
of her account activities, as upon Account opening, Keva had opted to receive
statements electronically to her Hotmail account. Keva, though, wasnt the best with
checking her Hotmail account, and would usually just check her balance on her ATM
receipt, when she withdrew cash from the ATM for the week.
On/or about the Monday 8th September 2021, Keva went to the ATM at the Banks
Palmdale Branch to withdraw $500 cash for her weekly expenses. At that time, she
noticed her balance was significantly lower than she remembered the week before.
She was in a bit of a rush to get to work so did not have time to step into the Bank to
inquire of her balance. That week things were crazy at work, and so the time got the
best of her. The following week, she went to the ATM at the Banks Soldier Road
Branch to withdraw the $500 cash for her weekly expenses, and the balance again
appeared to be significantly lower than she remembered, and she thought: This
doesnt make sense. However, she couldnt deal with inquiring with the Bank at that
moment, as she had to pay a deposit for her daughters school before reading into
work.
The week of 15 October 2021, Keva was excited about their familys Fall Break
vacation - a 14 night cruise on Royal Caribbeans Symphony of the Seas. She hastily
went to the ATM at the Banks Cable Beach Branch and again her balance was
strikingly lower than she imagined but she couldnt think about it because she had
to get ready for her flight that afternoon to Miami so her and her family could board
the cruise.
Upon her return to The Bahamas from the United States on/about the 3rd of
November, she went into the Cable Beach Branch and inquired about her statement
of account. The teller at the Bank printed out her statement of account, and it is was
then she noticed that there were numerous charges on her card at various stores, one
was the purchase of a television on 7 September 2021 at Quality Home Centre totaling
BSD$1,300; another charge was a $300 charge at Latitudes restaurant on 16
September 2021; another was the purchase of clothing totaling $1,300 at Polo Ralph
Lauren, in the Mall at Marathon on 17 September 2021. She was flabbergasted! She
immediately told the teller, I need to speak to the Manager now! Keva then met with
the Branch Manager and told him that she never used her debit Card for Point of Sale
transactions and only used it to withdraw cash from the ATM.
The Branch Manager, Lamont Hanna, said, we will launch an investigation; but
unfortunately, I am not sure what we can do in this circumstance, as the Banks
Terms & Conditions require that you notify us within 30 days of the charges. Keva
said, I want my money and I want it now!
Keva meets with the Banks IT Manager, as well as files a police report with the
Financial Crimes Unit of the Royal Bahamas Police Force. The Inspector at the
Financial Crimes Unit informs Keva, We have seen a lot of these recently; in fact we
just arrested a few guys last week for skimming cards.
That evening Lamont went home to his wife and said: This crazy customer Keva
Williams acted like a fool in the Bank, Apparently she is saying that charges made on
her account, some $2,000 in charges, she didnt charge, I dont buy it for one second.
She definitely trying to get one over the Bank.
On/or around November 2021, the Banks Fees and Charges Schedule, incorporated
within the Banks Terms and Conditions were as follows, having been amended on
September 2019:
Charge VAT VAT INCLUSIVE
Withdrawal
Charge
$2.75 $0.33 $3.08
Monthly
Maintenance
Fee
$0.00 $0.00 $0.00
Transfer Fee $8.00 $0.96 $8.96
Stamp Tax
Charge as
prescribed by
Government
As Prescribed As Prescribed As Prescribed
On Christmas Eve, Keva is in a fatal car accident and passes away.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Endangered Economies How The Neglect Of Nature Threatens Our Prosperity

Authors: Geoffrey Heal

1st Edition

0231180845, 9780231180849

More Books

Students also viewed these Accounting questions

Question

What would you do?

Answered: 1 week ago