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What do I need to open a bank account in Jamaica?

Like a cellphone, a bank account, is a convenient necessity for most persons in today's busy and fast-paced world. What are the requirements though?

Here's what you need to open a bank account in Jamaica today (typically), outlined right after the question...

What do I need to open a bank account in Jamaica?


ANSWER: by Wellesley

OK, so some assumptions here again.

First, I am going to assume that you are interested in opening a regular savings or deposit account, okay?

For these, the requirements are pretty much the same across the financial institutions here in Jamaica, but below are the requirements to join ScotiaBank, one of the premier financial institutions here.

In addition to a completed Application Form and your deposit, you'll need...


  1. Identification

    This could be your...
    Passport,
    Voters ID,
    Drivers Licence,
    Permanent Resident Card
    Student Id - for persons under the age of 18,
    or Workers ID*

  2. Tax Information

    A TRN (for local residents)
    Tax ID from country of residence
    or Government Issued Tax Compliance Certificate

  3. Proof Of Address

    Which could be any of the following...
    Drivers License
    Voters ID,
    Rent Receipt
    Lease Agreement
    Utility Bill
    Property Tax Receipt or
    A Statement of account from a licensed financial institution.

  4. Proof Of Employment

    Any one of...
    Job Letter
    Payslip* or
    Business Registration Certificate

  5. Two References

    Provide name, phone number and occupation for each reference.

  6. Proof of Source Of Funds

    Original source of funds as well as ongoing source.


I've embedded a snapshot of the requirements below.

what_do_i_need_to_open_a_bank_account_in_jamaica

Note that these are their requirements at the time of my response and that can change, however, the basic requirements will remain overtime.

And yes, I am aware that some (other) institutions request passport sized photographs as well, so just be mindful.

I hope this helps!

As usual, I welcome your feedback here.

By the way, I recommended that you consider utilizing the free search tool that allows you to look for something specific on this website.

Don't Miss: How to travel with money in Jamaica.

Keep in touch.

Regards,
Wellesley

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Tags:
What do I need to open a bank account in Jamaica?
What are the requirements to join Scotiabank?
What are the requirements to join JN Bank?
What are the requirements to open a savings account?

Comments for What do I need to open a bank account in Jamaica?

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Apr 13, 2020
Requirements
by: Anonymous

On the last part it said provide documentation of proof of original source of funds what does that mean??

Editor's Note
Basically means show how you earn your money,

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