Banking Transactions?

[Princess1]

Is there anyway that you can draft money from your personal accountant from a U.S. Bank directly into a Jamaican Bank account in Jamaica?

If you are a citizen of the U.S. and you want to open an account in Jamaica is that possilbe...I was told, if you are not a citizen of Jamaica you would have to get someone you know in Jamaica to sign on the account with you. Is this true?

[Tuff Gong]

Re: Banking Transactions?

I don't know exactly. I think they get monies docked from their pay for services.

You can open a Foreign Exchange Account in Jamaica, but you have to be present to sign the paperwork.

I suppose you can use a power of attorney or a joint account but I would call the individual banks to make sure that any information you get is correct.

Generally USA Banking laws (until very recently) prohibit cross border access to account within the USA and certainly not outside of the USA unless via card, checks or bank transfers.

[Ja. Jewel]

Re: Banking Transactions?

Hi Princess,...I've opened accounts at NCB in Ja. and both that bank and Scotia require you to have paperwork that you get from the bank to be filled out by a justice of the peace in Ja., to verify that they have known you for a certain length of time and you are of good character. I was also required to get a reference from another Ja. citizen...I used my Ja. lawyer.

I tell you, with all the rules and regulations, it's almost as if they don't want your money, they make it so difficult and time consuming!!

If you have other questions, you can PM me, or ask them here. I am an American citizen, and was present when I opened my account....Good Luck!!

[Gen]

Re: Banking Transactions?

Originally posted by Ja. Jewel:
[qb]
I tell you, with all the rules and regulations, it's almost as if they don't want your money, they make it so difficult and time consuming!!

[/qb]

Pardon my ignorance....but the US does the same to non-citizens attempting to open bank accounts in the US.. [img]/forums/images/graemlins/confused.gif[/img] so what really is the big deal...submit proof to show that ABC=XYZ and call it a day...

[Ja. Jewel]

Re: Banking Transactions?

I was unaware of that, but I do have a Ja. friend that I authorized for him to pick up a bank draft, and he had to go through the third degree to be able to put that money into his own account. I believe he spent at least an hour in the bank, waiting for them to check on everything. It was he who complained to me about the system!

[Ja. Jewel]

Re: Banking Transactions?

Also, I have never had to show more than a driver's license to open an account in the U.S., but even if you are a Jamaican in Ja. you are required to get that form filled out by a JP.

[Dr.Dudd]

Re: Banking Transactions?

Originally posted by Ja. Jewel:
[qb] Also, I have never had to show more than a driver's license to open an account in the U.S., but even if you are a Jamaican in Ja. you are required to get that form filled out by a JP. [/qb]

That was before 9/11,same in Jamaica before 9/11
not ,much was needed,nut a drivers license.

[CeaBee]

Re: Banking Transactions?

new money laundering regulations ("encouraged" by the American Govt)...makes it more difficult now for even a jamaican citizen to open an account back a yard

[777]

Re: Banking Transactions?

new money laundering regulations ("encouraged" by the American Govt)...makes it more difficult now for even a jamaican citizen to open an account back a yard

a dat me notice too deh Cools..
but check this, if the manager likes u...
dem will waive all those regulations doe..
I was allowed to open up one bout a year ago, without no creditials..other dan a drivers license..

[Gen]

Re: Banking Transactions?

Originally posted by coolbeans*:
[qb] new money laundering regulations ("encouraged" by the American Govt)...makes it more difficult now for even a jamaican citizen to open an account back a yard [/qb]

yuh have time ....mi was gwine write one long sinting bout OFAC and money & banking..but mi change mi mind.../