View Full Version : bank account advise
05-18-2011, 02:45 PM
I would like to open a bank account when I next am in Negril - probably with Scotia Bank. I only plan to be down for a few days - so I will need to handle a couple business meetings in a concise manner.
I have sent an email to Scotia Bank asking them what sort of paperwork I need to carry with me, but I have not heard back from them yet.
I have heard from others I may need a letter from my bank here in the States. What sort of letter would that be? Just some sort of letter from my bank confirming my account information? Proof of my direct deposits from work?
copies of proof of employment? copies of 401K accounts? passport / airline ticket with return flight to show I am not staying, but rather returning to the states on a certain date???
05-18-2011, 03:06 PM
Here you go, Laurel...
05-18-2011, 03:21 PM
great - thanks Bnewbie .... I was roaming around on the Scotia Bank web site and did not find that link.
I appreciate it.
05-18-2011, 09:32 PM
OMG! A few days? Yeeesh! Been there, done that. Just in December. What a saga. You will need 2 letters of reference - one from your financial institution, and one from a professional - Doctor, Lawyer, Notary, Dentist. MUST be on letterhead, or have the stamp of the professional. They will also need proof of employment. They will, while you are there, confirm ALL!!! Make sure that your references and employer will have somebody there to respond to their questions (trust me, I know. 3 trips to the bank; approx. 3 hours each!!!!) You will need phone numbers and alternate phone numbers. They will call (and they just don't dial at Scotiabank in Negril, they go through a switch board ... and if you have a company like I do, everyone has separate numbers so it was a dial-a-thon!). You will need your passport and 2 other ID's from your country of residence. The info they give you on the websites? Does not apply. JA is combatting drug $$$ laundring and they will want to know how you will deposit, how much, how often. We were told we would have to wire transfer through Chase Manhattan in NYC, but our own Scotia Bank just figured out we can do it like a regular account transfer. Be prepared to answer to why you are opening this account. How often you plan to visit. And be prepared for delays, waits and time time times. After 3 days and +9 hours, we ended up with our accounts, a bank card - but!!! They authentication machine was down and we could not activate our cards. If that happens, get the name and phone number of the person you are dealing with! Actually, everytime you speak to somebody, take note of who you talked to, about what and get their contact information! Take a pen and paper. Really!!! It's serious business in JA! It's worth it ... but take a water bottle. You'll need it. And Prozac. My email is firstname.lastname@example.org. We went through it. We can help you - send me an email!
05-18-2011, 09:50 PM
Just thought of some other points. Sorry. This is a business transaction is JA. Look the part. You don't need a shirt and tie, but look, you know - like you mean business, presentable. Be careful of letting and individual send an email to confirm your identity or employment or references. They may not be working tomorrow. You know? Ensure they cc somebody else. GET THE NAME!
The right hand is not sure what the left hand is doing, from our experience. What your bank tells you now and what happens is totally different. At least in Canada. It has taken almost 6 months for our bank to figure out that we can do a "account to account" transfer, rather than the whole wire transfer crap!
Above all, be patient (that's why I suggested the Prozac and water!!!), be professional, be real. E-me.
05-19-2011, 10:42 AM
I went through the exact same thing.....patience is a must!
05-19-2011, 11:40 AM
hmm - I have been trying to get this bit of business done for several years now ... but it was never a priority ~ now I need it, and won't have many days to dedicate to it. *sigh*
Oh well - not going to stress over it - but, at least we will approach the process next trip so it gets done.
Actually - just this morning I heard a response back from an associate at Scotia Bank Jamaica, and her list of necessary things is pretty much in line with the list Bnewbs provided in the link.
I am familiar with the requirements regarding appropriate attire and so forth ... I have participated in various meetings and appointments over the years; I was mostly just looking for a run down of paperwork I needed to provide from here. I was informed that in addition to those items already referenced, copies of my utility bills from US address is helpful/required.
Plus - letters of recommendation from established BNSJ customers ... so - I will get going on getting requests for those as well. Everything Jamaica Time ... if I ask now, I might get those by end of June arrival ~ (insert a smiley face icon .... do we still have those with this new board??)
05-19-2011, 12:00 PM
LOL...yup...we still have smiley faces...
Since I bank with Scotia Bank here in Canada, I had them do the work for me from here. Papers were sent back and forth between the two banks and I just signed things. It did take a couple of months though to do it. I wasn't in a hurry and they held the bank book in Negril so that when I got there all I had to do was go in and sign in their presence. I also had my bank transfer money to Negril.
It might be possible for other banks to do this as well.
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