Jamaica National updates banking for South Florida members
Members of the Jamaica National Building Society (JNBS) based in Florida can now update their JNBS account records at the representative Office located in Tamarac. This updating process is part of the Know Your Customer (KYC) program, which will confirm account holders’ identities and addresses, as required by Jamaican banking regulations.
“Our regulators in the USA have granted us permission to facilitate JN members in Florida, to update their personal records with us, at our offices,” says Janice McIntosh, chief representative officer with the JNBS Florida Office. “Previously, members were asked to complete forms and submit notarised documents via mail to JNBS Headquarters in Jamaica.”
To establish your identity and update your account, members will only need “to present a current passport or driver’s license and their Social Security Number (SSN),” says McIntosh. “Their address can be established with a utility bill, credit card statement or post marked envelope, which should not be more than six months old. A pay slip will also be required for employed account holders. ”
The process involves establishing the identity of the member, their source of funds, the nature of the member’s business and related transactions. The completed forms will then be directly dispatched to Jamaica by the Representative Office.
Updating membership information has become critical in ensuring your account and personal identification is secure, particularly due to the global risk of threats to financial security. “The rise in fraudulent activities, such as the lottery scam and money laundering, makes it increasingly important for financial institutions to be more vigilant,” says McIntosh.
In addition, updating your account information through the new KYC program will help members recover dormant accounts at Jamaica National. Currently, a savings account with JNBS becomes dormant when transactions are inactive for five consecutive years.
“There are members who may have accounts in Jamaica for several years; and, have lost access due to these accounts becoming dormant,” says McIntosh. “By being KYC compliant, they are able to regain control of these accounts.”