UK Standing Orders for JNBS Accounts
Almost 50% of transactions received through Barclays Bank, UK on behalf of members of the Jamaica National Building Society (JNBS) in the United Kingdom are facilitated by Standing Orders established by members with their respective bank in the UK. These Standing Orders are pre-authorised payments instructed by the account holder to have a specific sum of money released from their UK bank account and transferred to their JN account, at regular intervals.
For the thousands of members using Standing Orders, it means that they are benefitting from the convenience of having an established arrangement with their own bank, which ensures that their funds are transferred to their respective JN accounts, without the hassle of physically going to the bank. And, most importantly, maintaining consistent savings in their JNBS accounts.
Leon Hamilton, Chief Representative Officer, JN UK says setting up a standing order is quite easy, and hassle free.
“The Standing Order arrangement is simple to establish and it is encouraged for all members who wish to consistently save in their JNBS account. Members are encouraged to first make contact with the UK Representative Office. An agent will assist them to complete the form with the relevant details; and, the member can then present that form to their UK Bank.”
He further explained that, “The reference details on the Standing Order form will include: the JNBS account number, the first initial of the member and the surname to allow for easy identification and credit to the account.”
Funds transferred by a Standing Order are usually credited within five working days from the date the funds leave the UK Bank. Members are also encouraged to sign up to use LIVE by JN, the JN online banking portal, which can be accessed via www.jnbs.com, so that they can personally monitor their accounts and payments credited.
Where there are any queries regarding Standing Order payments, members are requested to make immediate contact with the UK Representative Office.
With emphasis on promoting financial security and growth, JNBS members are also being reminded that only those accounts which fall below a balance of 100 pound sterling will be subjected to the monthly minimum balance violation fee of one pound.
For further information, please call the UK Representative Office at: Tel: 08003280487; or, send an email to: email@example.com.