VM Foundation Scholars Programme is now open!
Apply today or learn more about how we’re investing in Jamaica’s future.
Learn More
Celebrate 146 Years with VM
Discover our journey of generational savings and success. Click here to explore our anniversary celebrations!
Learn More
Reactivate Your Dormant
Account with Ease
Do you have a VMBS account that you haven't used within the last 18 months? This is your chance to reactivate and enjoy the benefits of your VM Membership!
Reactivate My Account
Opening Your Account
Is Simple and Easy
Our member onboarding portal allows you the convenience to open your VM account wherever you are. Begin the journey of Transforming your Everyday.
Get Started Today
Protect what matters most with the Canopy Family Plan
This affordable life insurance solution covers you and up to 5 eligible family members, with premiums as low as $380 per month and coverage up to $1.5 million.
Learn More
VM Foundation Scholars Programme is now open!
Apply today or learn more about how we’re investing in Jamaica’s future.
Learn More
Celebrate 146 Years with VM
Discover our journey of generational savings and success. Click here to explore our anniversary celebrations!
Learn More
Reactivate Your Dormant
Account with Ease
Do you have a VMBS account that you haven't used within the last 18 months? This is your chance to reactivate and enjoy the benefits of your VM Membership!
Reactivate My Account
Opening Your Account
Is Simple and Easy
Our member onboarding portal allows you the convenience to open your VM account wherever you are. Begin the journey of Transforming your Everyday.
Get Started Today
Protect what matters most with the Canopy Family Plan
This affordable life insurance solution covers you and up to 5 eligible family members, with premiums as low as $380 per month and coverage up to $2 million.
Learn More
The VM Group 1st Annual General Meeting
The 1st Annual General Meeting of the VM Group was hosted on July 30, 2024. Learn more about how we have been working to Transform Your Everyday.
Learn More

Build your foundation

iSave Suite

These are special savings accounts with a dedicated plan. Budget and save weekly or monthly to get to your goal faster.

Mortgage

As cliche as it may sound, there is really no place like home.

Auto Loan

Drive away in the car of your dreams with the VM Drive Auto Loan. We will get you on the road in your brand new or pre-owned motor vehicle with a repayment plan that is just right for you.

Personal Loan

Your goals are important to us and we know that you may need funding to get those goals on track. We offer personal loans to meet your medium to long term goal with terms that make them affordable for you.

Deposit Accounts

The deposit account is where it all begins. You can choose from a wide range of products to suit your needs.

Credit Card Solutions

Take on new experiences with your VM Visa Gold and VM Visa Platinum Credit Card. Conveniently access the funds you need so you can live the lifestyle you deserve.

Check Out Our Business Solutions

Let’s Help You Get more information

Get help by exploring our tools and get support

Resources

Explore getting access to the online portal and our additional resources.
New Account Opening ›
VM Express Online ›
Mortgage Portal
Download Forms ›
Rates & Fees ›
VM Calculators ›
Membership Perks ›
Service / Transaction Requests
Upcoming Events & Promotions

Support

We value your business so speak with us to find the right solutions for you today.
Reactivate Your Account ›
ABM Locations ›
View Our Locations ›
Branch Routing Numbers
Leave Feedback ›
Contact Us ›

Investor Relations

Get up-to-date information about VM and our Team.
Reports ›
Corporate Profile ›
Leadership ›

Bank anywhere, anytime!

Local, International & Cross-Currency Transfers, Loans and Bill Payments – You can get it done without ever leaving home.

Log in
Register Now
Facebook Twitter Instagram Youtube

Company

Board of Directors
Management Team

About Us

Contact

Locations

Services

Personal Solutions

Business Solutions

ABM Locations

Resources

Forms

FAQs

Membership Perks

Branch Routing Numbers

Privacy Policy

New Rules For Building Society

Private Treaty Listing

Rates & Fees

VM Group

VM Group

VM Money Transfer Services

VM Finance

VM Wealth Management

VM Wealth Funds

VM Foundation

VM Pensions Management

VM Investments

Documents Required for Opening a Public Entities Account

 

  1. Copy of the Trust Deed and Rules

  2. Organization Tax ID Number (TIN)  (if available)

  3. Tax exemption from TAJ (where applicable)

  4. All trustees must sign all documents/authorities unless we have written instructions stating how many persons can execute transactions/instructions

  5. Trustee ratification to open account with VMBS

  6. List of Authorized Signers and specimen signatures

  7. Name, address and telephone number of Directors and Majority Shareholders on the account

  8. ID & TRN for directors, majority Shareholders and authorized signers on the account.

  9. SSN is to be declared for US persons for FATCA purposes

  10. Proof of Address for Trustee, authorized signatories, and Directors

  11. Source of Funds information – confirmation of source of funds being used to open the account as well as source of future investments or deposits.

Documents Required for Opening a Corporation Account

  1. Certificate of Incorporation or Certificate of Registration.
  2. Articles of Incorporation.
  3. Articles and Memorandum of Association.
  4. Directors’ Resolution.
  5. Taxpayer ID e.g. Tax Registration Number for business.
  6. Valid Tax Compliance Certificate (TCC)
  7. Proof of earnings/funds for the business i.e. current financial statements (audited).
  8. Valid License or Certificate to operate the business (where the main line of business is one that falls within the purview of a regulatory body)
  9. List of signing officers and specimen signatures for each
  10. Confirmation/Notice of Director and Secretary.
  11. Name, Address and telephone number of directors and Beneficial Shareholders.
  12. ID and TRN for majority shareholders, directors and authorized signing officers
  13. Certificate of Good Standing. (This should be from the relevant regulatory authority).
  14. Group structure (if part of a Group)

Documents Required for Opening a Sole Trader Account

  1. Valid Certificate of Registration of Business Name.
  2. Taxpayer ID e.g. Tax Registration Number for business.
  3. Proof of earnings/funds for the business i.e. current financial statements (audited or in-house). Where the sole trader is in business over 2 years, with an annual income above $15 million, a Financial Statement by a registered public accountant is required. Where the sole trader earns above $425 million per annum and in business over 2 years, audited financials are required.
  4. Valid Tax Compliance Certificate (TCC).
  5. Valid License or Certificate to operate the business (where the main line of business is one that falls within the purview of a regulatory body)
  6. Letter of Good Standing.

Forms Required for Opening a Sole Trader Account

  • Business Information and Account Application Form.
  • Account Signing Authority Form.
  • Member Information Form (MIF).
  • Reference Forms (if signing officer is unable to provide telephone references).
  • Address Verification Form (if signing officer is unable to provide another form of proof of address).
  • Income Statement and Questionnaire for Self-employed (as applicable).
  • Electronic Communication Indemnity Form (if email address is provided).
  • FATCA and CRS Self-Certification Form.
  • Signature Card.
  • Bearer Indemnity Form (as applicable)

Alternative Documents for Opening a Sole Trader Account

Where the business owner is self-employed and financial statements are not presented, the Income Statement and Questionnaire for Self-Employed Form must be completed along with any TWO of the following documents HERE.

  • Where the business owner is self-employed and financial statements are not presented, the Income Statement and Questionnaire for Self-Employed Form must be completed along with any TWO of the following provided:
  • Cash flow projections for the next two (2) years.
  • Reference letter from another bank, copy of bank statement or passbook. 
  • Purchase order from two main customers (issued within two months of the date of application).
  • Receipt for supplies purchased for the business.
  • Import licenses, invoices for goods or services sold within the last three months.
  • Written customer testimonial from two main customers.
  • Copy of any government-issued permit or license (e.g., food handlers permit, vending permit, taxi permit, etc.).
  • Proof of membership in area of trade or professional association (e.g., letter from the President, Treasurer or Secretary).
  • PayPal, other online earning platforms, and contract agreement on company letterhead for contracted persons, etc.

Documents Required for Opening a Small Business Account

  1. Valid Certificate of Registration of Business Name.
  2. Taxpayer ID e.g. Tax Registration Number for business.
  3. Proof of earnings/funds for the business i.e. current financial statements (audited or in-house). Where the sole trader is in business over 2 years, with an annual income above $15 million, a Financial Statement by a registered public accountant is required. Where the sole trader earns above $425 million per annum and in business over 2 years, audited financials are required.
  4. Valid Tax Compliance Certificate (TCC).
  5. Valid License or Certificate to operate the business (where the main line of business is one that falls within the purview of a regulatory body)
  6. Letter of Good Standing.

Forms Required for Opening a Small Business Account

Standard KYC internal forms listed below must be completed:

  • Business Information and Account Application Form.
  • Account Signing Authority Forms.
  • Member Information Forms (MIF).
  • Reference Forms (if signing officer is unable to provide telephone references).
  • Address Verification Forms (if signing officer is unable to provide another form of proof of address).
  • Income Statement and Questionnaire for Self-employed (as applicable).
  • Electronic Communication Indemnity Forms (if email address is provided).
  • FATCA and CRS Self-Certification Forms.
  • Signature Cards.
  • Bearer Indemnity Form (as applicable)

Additional Documents for Opening a Partnership Account

Partnerships must also submit the following documents:

  • Partnership Agreement/Deed (as applicable).
  • Statement from managing partners giving names and addresses of officers and partners.

Forms Required for Opening a Corporation Account

Standard KYC internal forms listed below must be completed:

  • Business Information and Account Application Form.
  • Account Signing Authority Forms.
  • Member Information Forms (MIF).
  • Reference Forms (if signing officer is unable to provide telephone references).
  • Address Verification Forms (if signing officer is unable to provide another form of proof of address).
  • Income Statement and Questionnaire for Self-employed (as applicable).
  • Electronic Communication Indemnity Forms (if email address is provided).
  • FATCA and CRS Self-Certification Forms.
  • Signature Cards.
  • Bearer Indemnity Form (as applicable)

Documents Required for Opening a Public Entities Account

  1. Letter from Ministry of Finance – authorizing the establishment of the business relationship
  2. Tax Compliance Certification (TCC) (if available), if entity does not pay tax, letter from MOF stating same.
  3. Organization Tax ID Number (TIN) (if available)
  4. Statute governing the formation of the entity
  5. List of Authorized Signers and specimen signatures
  6. Name, address and telephone number of Directors and Majority Shareholder on the account
  7. ID & TIN for directors, majority Shareholders and authorized signers on the account.
  8. SSN is to be declared for US persons for FATCA purposes
  9. Proof of Address for the public body
  10. Source of Funds information – confirmation of source of funds being used to open the account as well as the source of future investments or deposits.
  11. Audited Financials

Additional Documents for Opening a Corporation Account

Partnerships must also submit the following documents:

  • Partnership Agreement/Deed (as applicable).
  • Statement from managing partners giving names and addresses of officers and partners.

Documents Required for Opening a Club or Civic Association Account

  1. Rules or Charter of Club or Association.
  2. Resolution from the executive authorizing the opening of the account.
  3. Minutes of meeting.
  4. Taxpayer ID e.g., Tax Registration Number for Clubs and Associations, or Statutory Declaration (see Clubs and Associations Account Application Form).

Forms Required for Opening a Small Business Account

  • Clubs and Associations Account Application Form.
  • Account Signing Authority Forms.
  • Member Information Forms (MIF).
  • Reference Forms (if signing officer is unable to provide telephone references).
  • Address Verification Forms (if signing officer is unable to provide another form of proof of address).
  • Income Statement and Questionnaire for Self- employed (as applicable).
  • Electronic Communication Indemnity Forms (if email address is provided).
  • FATCA and CRS Self-Certification Forms.
  • Signature Cards.
  • Bearer Indemnity Form (as applicable)

 

*Note: Where the club or association is not required to have a Taxpayer Identification Number and has presented their charter, the Statutory Declaration section should be completed on the Clubs and Associations Account Application Form.

Documents Required for Opening a Church Account

  1. Rules or Charter of Club or Association.
  2. Resolution from the executive authorizing the opening of the account.
  3. Minutes of meeting.
  4. Taxpayer ID e.g., Tax Registration Number for Clubs and Associations, or Statutory Declaration (see Clubs and Associations Account Application Form).

Documents Required for Opening a Charity Account

  1. Name of the Charity – as registered with the Companies Office and the Department of Cooperatives and Friendly Societies
  2. Copy of approval from the Ministry of Finance that the organization has been granted status as a charity
  3. Articles of Incorporation
  4. Organization Tax ID Number (TIN)  (if available)
  5. Name, address and telephone number of Directors and Majority Shareholder on the account
  6. ID & TIN for directors, majority Shareholders and authorized signers on the account.
  7. SSN is to be declared for US persons for FATCA purposes
  8. Proof of Address for the organization, authorized signers and Directors
  9. Source of Funds information – confirmation of source of funds being used to open the account as well as source of future investments or deposits

Documents Required for Opening a Government School Account

  1. Resolution from the school’s Board of Management – authorizing the establishment of the business relationship and relevant signing instructions on account
  2. The Scheme for public educational institution (contains constitution, powers and duties of the Board)
  3. Organization Tax ID Number (TIN) (if available)
  4. Tax Compliance Certification (TCC) (if available)
  5. List of Authorized Signers and specimen signatures
  6. Name, address and telephone number of Directors and Majority Shareholder on the account
  7. ID & TIN for directors, majority Shareholders and authorized signers on the account.
  8. SSN is to be declared for US persons for FATCA purposes
  9. Proof of Address for the school, authorized signers and Directors
  10. Source of Funds information – confirmation of source of funds being used to open the account as well as source of future investments or deposits.

Documents Required for Opening a Private School Account

  1. Documents evidencing that the independent school is registered (from the Ministry of Education)
  2. If the school is incorporated – Documents required for a company should be presented
  3. If not incorporated – indicate the legal entity or the proprietor of the school. (Proprietor of the school is listed in the application for the registration as an independent school).
  4. Resolution from the school’s Board of Management – authorizing the establishment of the business relationship and relevant signing instructions on account
  5. Organization Tax ID Number (TIN) (if available)
  6. Tax Compliance Certification (TCC)
  7. List of Authorized Signers and specimen signatures
  8. Name, address and telephone number of Directors and Majority Shareholder on the account
  9. ID & TIN for directors, majority Shareholders and authorized signers on the account.
  10. SSN is to be declared for US persons for FATCA purposes
  11. Proof of Address for the school, authorized signatories, and Directors
  12. Source of Funds information – confirmation

This website uses cookies to ensure you get the best experience on our website. Read More

Accept