Savings FAQs

Effective December 31, 2013, the Jamaica National Building Society (JNBS) will discontinue the acceptance of International Money Orders for processing to existing accounts or for opening new accounts.

Members are encouraged to use the following alternative instruments:

  • Bank Draft or Giro Deposit – United Kingdom
  • Bank Draft – Canada
  • Bank Draft – United States of America

The sender will need to following information:

• Beneficiary’s Name: JNBS
• Beneficiary’s Bank: Citibank, NA (Jamaica)
• Beneficiary’s Account: 18273055
• Beneficiary’s Bank Bic Code: CITIJMKI
• Beneficiary’s Branch Address: 19 Hillcrest Avenue, Kgn. 6
• Transaction Instructions: FFC A/C XXX Name of A/C Holder (e.g. FFC RSV 1007865 John Brown)

For additional information on Local Funds Transfer click here


Citibank NA
111 Wall Street
New York, NY 10043
ABA # 021000089
Beneficiary: Jamaica National Building Society
Account No: 36015386
For further credit to account # ______________
In the name of _________________


Bank of Nova Scotia
International Banking Division
Scotia Plaza
44 King Street W. At Bay
Toronto, Ontario M5H 1H1
Transit # : 52712
Beneficiary Account #: 297712
Beneficiary: Jamaica National Building Society
For further credit to account # ______________
In the name of _________________


Citibank N.A., Canadian branch
123 Front Street West Suite 1900
Toronto, Ontario
Routing Number: Bank Number – 328 Branch Number – 20012
Beneficiary: Jamaica National Building Society
Beneficiary account #: 2014935007
For further credit to account # ______________
In the name of _________________

Citibank London
336 Strand
London WC2R 1HB
Sort Code: 18-50-08
Swift Code: CITIGB2L
Beneficiary: Jamaica National Building Society
Account No: 8022186
For further credit to account # ______________
In the name of _________________

Citibank London
Citigroup Centre, Canary Wharf
London E14 5LBS
IBAN: GB85 CITI 1850 0811 386 581
Beneficiary: Jamaica National Building Society
Beneficiary account #: 11386581
For further credit to account # ______________
In the name of _________________

Yes your account is still valid but it is probable dormant or restricted because you have not been doing any transactions on it.

If you are overseas you are required to send us a notarized letter requesting reactivation and a copy of  your ID  notarized. You will also be required to make a lodgement to the account.

Lodgements can be made via the following:

  • * Cheque made payable to Jamaica National Building Society.
  • E-money/JN Mailing Money Transfer System. To utilize this banking facility, you may visit our JN Representative Office which is located at 690-700 Utica Avenue, Brooklyn, New York N.Y. 11203, USA. The telephone #s are 718-756- 2355 or 718-756-2810. The fax# is 718-756-3929.

Click here for a list of agents.

The money is usually invested in what is considered among the safest investments: government paper, treasury bills, etc).

The choice is up to the you.

The government’s 25% withholding tax which is waived on LSA will then become deductible. The organization is at liberty too to often times retroactively adjust the usually higher interest rate granted on LSA to lower rates payable on basic savings accounts.

To maintain the agreement and to benefit from the ‘tax break’, only up to 75% of the interest earned within a given year can be withdrawn. If for whatever reason withdrawal of any portion of the deposit (principal) is made penalty charges will be levied (e.g. the government’s normal 25% withholding tax normally waived on LSA will then become deductible at source).

According to the maturity date of the instrument (e.g. end of 30, 90, 180, or 365 days)

Under the agreement, you can only access up to 75% of the interest earned per annum. The principal cannot be touched over the agreed 5-year deposit term. Otherwise, as a penalty for breaking the agreement, the remaining 25% interest earned will automatically be paid over to the government (the equivalent to the regular rate of the government’s withholding tax on other savings and investment instruments).

Usually a relatively higher interest-bearing tax-free investment instrument where the account holder agrees to maintain the original balance/deposit (and any subsequent deposits) for a minimum of five (5) years. In other words, the usual 25% government withholding tax will not be charged on the interest earned on the investment over the agreed 5-year period once the principal (funds deposited) are not touched by the account holder within the agreed savings period. You are allowed, however, only to withdraw up to 75% of any given year’s interest income and allow the remaining 25% to remain in the investment instrument.

Inclusive of cheque charge.

Note:This is not imposed on payment within the system, eg. withdrawal from savings account to pay (JNBS) mortgage account. J$280.00



Plus bank charges for personal cheques

Returned for:

  • Insufficient funds
  • Refer to drawer
  • Second signature required

Plus external bank charges for all other returned cheques

Return charges incurred by JNBS which are due to inadequate scrutiny by teller of cheques prior to acceptance (eg. Post dated, cheques stale-dated, words and figures differ) will be for that teller’s account.

J$900 for foreign cheques

J$450 for local cheques

WITHDRAWAL BY CHEQUE (per cheque) J$250.00

(1st cheque free. No charge for Term Share cheque closure).

Customers will get a portion of their deposit once the loan is disbursed. See the example below which is based on the assumption that a 15% deposit is required and JNBS’ financing amount is 95%.

Purchase Price: J$1,000,000
Deposit (15%): J$150,000
Loan Amount: J$950,000
Cash Back: J$100,000 (available for closing costs or refunded to the customer in cash at disbursement).

All first time home purchasers can access varying amounts of cashback, depending on the amount of their deposit and the level of financing offered.