isme888
9/3/2015 22:50 EST
Hi everyone
Another trip to JA coming up in a couple weeks and we thought it may be good to establish a credit/banking history for when we do make our move. So we want to open a bank account.
Can a foreigner open an account??? Besides ID do I need any thing else? Our Income tax papers or references of any sort? Any info would be appreciated.
Thanks
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edmon59
9/4/2015 09:23 EST
Banking involves some legwork...
You will need:
TRN
Job letter
Jamaican reference
Proof of residence, ie; work permit or exemption stamped in your passport.
This is my experience. I have not tried to open an account as an entrepreneur.If you are a foreign national moving there under no circumstances close your home bank account(s). Jamaican banking is brutal due to the amount of fraud and money laundering that goes on there. Moving money to a Jamaican account from abroad is tedious at best. Believe me, I am currently wiring money to JA from Europe, but getting it set up took about 6 weeks due to extraordinary security measures in Jamaica. I bank at JNBS.
Best of luck.
Ed
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iriestar
9/5/2015 09:38 EST
It can be quite difficult to open an account in JA if you have no JA ties.
Check out the First Global website and the NCB website..they might be able to answer your questions.
If you're from Canada and have a Scotia or Victoria Mutual account it might be easier.
https://www.jncb.com/individuals/accountopeningrequirements
I found this on the NCB website.
Good luck
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10abuse
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iriestar
9/5/2015 09:41 EST
I agree. Keep your stateside ( or wherever) account open. Moving money isn't difficult, but there are fees for sending and receiving international wires. Most Jcan's send and receive money using Money Gram. If I need to transfer money quickly I will do a wire, but not very often.
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10abuse
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