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Scotiabank Jamaica Account Requirements
| Account Requirements1 |
Chequing Account |
Savings Account |
| Personal |
Commercial6 |
Regular |
Foreign
Currency2 |
| 1. Minimum opening balance |
$5,000 |
$10,000 |
$5,000 |
$100 |
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2. A valid picture ID, e.g., |
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| Driver's licence |
√ |
|
√ |
√ |
| Voter's ID, etc. |
√ |
|
√ |
√ |
| Copy of passport3 |
√ |
|
√ |
√ |
| Valid picture ID of the signatories of company |
|
√ |
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3. References5 |
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Two references, e.g. |
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- Employer |
√ |
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√ |
√ |
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- Justice of the Peace4 |
√ |
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√ |
√ |
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- Bank references on company and its director |
√ |
√ |
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4. Bank documents to be completed by applicant |
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Signature Card |
√ |
√ |
√ |
√ |
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Operation of Account Agreement |
√ |
√ |
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√ |
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One-Step Application |
√ |
|
√ |
√ |
| Application for Business Services |
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√ |
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- Date of Birth |
√ |
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√ |
√ |
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- Marital Status |
√ |
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√ |
√ |
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- Occupation |
√ |
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√ |
√ |
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- Employer |
√ |
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√ |
√ |
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- Tax Registration Number |
√ |
√ |
√ |
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- Address and length of time at address |
√ |
√ |
√ |
√ |
- Anticipated type, method & size of deposits &
withdrawals |
√ |
√ |
√ |
√ |
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- Source of funds |
√ |
√ |
√ |
√ |
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- Personal data of principals/directors |
|
√ |
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- Name of attorney & accountant |
|
√ |
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- Other financial data, such as previous bankers,
bankruptcy |
|
√ |
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- Certificate of Incorporation |
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√ |
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- Letter of introduction for each signing officer |
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√ |
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1 It is mandatory that all applicants are present in the branch when opening the account
2 Minimum deposit for foreign currency savings account must be in one of the following currencies: USD, GBP, CDN or EUR
3 Foreign applicants: Copy of passport duly notarised
4 Must be known by the branch at which the account is being opened
5 Foreign applicant requirements: Personal applicants require reference from existing bank. Non-personal or
commercial applicants require reference from bankers in domicile country
6 The bank does not encourage the opening of commercial chequing accounts by post unless the company has a local
representative, or the principal has been formally introduced to the bank. Foreign registered companies with offices in
Jamaica must be registered locally with Registrar of Companies
Account requirements subject to change without prior notice
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