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What's your that?

No matter what your ‘that’ is, there’s one thing that is common. You need money to get it.

Whether it’s the car or a home of your own, a new kitchen or your next epic trip, university for your child or an MBA for you, or to start your side hustle or grow your business, we’re here to help you save and manage your money for all your ‘that’.

You could sit around daydreaming about someday, buy another quick-pick ticket, or hide ‘likkle’ money in your sock drawer. Or you can start making your ‘that’ possible with a VM iSave account and maybe even a BOOST from us.

12

Prizes.

Chances to win.

Save $10,000 a month* for a chance to win $100,000, $200,000, or even $500,000.

First Place

$500,000

One iSaver will win J$500,000  deposited to their iSave account.

View Terms & Conditions

x1

winner

Second Place

$250,000

Two iSavers will win J$250,000 deposited to their iSave account.

View Terms & Conditions

x2

winners

Third Place

$100,000

Nine iSavers will win J$100,000 deposited to their iSave account.

View Terms & Conditions

x9

winners

Whatever your goal is

It's Possible with VM iSave

  • Save as little as JMD1000 per month
  • Choose flexible savings tenure of 1, 3 or 5 years
  • Save in JMD, USD, CAD or GBP
  • Enjoy attractive returns on your savings
  • Save towards specific short to medium-long term goals
Start my iSave Account
Start Your iSave Journey with a VM Rep

Savers Survey!

Let’s chat about your goals and how you handle money talks with the important people in your life. Find out how savers like you think about money.

Take The Survey Today!
Savers Survey

Savers Survey

What is your goal?
Do you know the cost of your goal?
How do you rate your budgeting skills?
Do you talk about money with your friends?
Do you talk about money with your partner?
Which best describes your money situation?

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Lets help get you iSaving

Start my iSave Account
Start Your iSave Journey with a VM Rep

*Terms and conditions apply. iSavers must have a balance at least of $50,000 at draw date.

To Authorized under section 58 ( 3 ) of the Betting Games and Lotteries Act

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Terms and Conditions

Promotion Period

May 4, 2024 – September 30, 2024

How to Enter

All eligible account holders who deposit a minimum of $10,000 monthly and hold a minimum balance of J$50,000 or over at the end of the promotional period are automatically entered into prize drawings.

Terms & Conditions  

  1. The VM Building Society “iSaving for That” Promotion begins at 12:00 a.m. on May 4, 2024, and ends at 11:59 p.m. on September 30, 2024 (“Promotion Period”) Entrants must be Eighteen (18) years or older and must be an account holder on an active Jamaican dollar iSave account, in good standing, at the VM Building Society (VMBS);
  2. All eligible account holders who deposit a minimum of J$10,000 (or USD, GBP or CAD equivalent) monthly and hold a minimum balance of J$50,000 (or USD, GBP or CAD equivalent) or over at the end of the promotional period are automatically entered into prize drawings. Only accounts in the names of individuals will be eligible for entry into the competition. Accounts in the names of companies, churches or other institutions will not be included; 
  3. New and existing VM Building Society iSave account holders who have been entered in the promotion will receive one (1) chance for every J$10,000.00 (or USD, GBP or CAD equivalent) of new funds added to their iSave account during the period May 4, 2024, to September 30, 2024; 
  4. The final date for deposits to the VM Building Society iSave account to be eligible for the draw is September 30, 2024. 
  5. Twelve (12) iSave account holders at VM Building Society will be selected for a chance to win cash prizes totalling One Million, Nine Hundred Thousand Jamaican Dollars (J$1,900,000). The prizes will be apportioned as follows: 
    1. One (1) First Prize package: J$500,000.00 deposited into winner’s VM iSave account;  
    2. Two (2) Second Prize packages: Each Second Prize winner will receive J$250,000.00 deposited into winners’ VM iSave accounts; 
    3. Nine (9) Third prize packages: Each Third Prize winner will receive J$100,000,00 deposited into winners’ VM iSave accounts. 
  6. Winners will be randomly selected electronically using the VM Prize Draw System. The order of selection will be from first prize winner to third place winners. Eighteen (18) alternate winners will be selected. In the event a potential winner is not in compliance with these Terms & Conditions, or a prize notification is returned as undeliverable, or the prize may be forfeited, an alternate winner may be selected for said prize in the order that the alternative winners were drawn. 
  7. All draws will be supervised by the selected auditors and as required, the Betting Gaming and Lotteries Commission (BGLC). 
  8. The promotion will be conducted throughout all VM Building Society locations. The names and addresses of the locations are as follows:
    1. Duke Street: 8-10 Duke Street, Kingston 
    2. Falmouth: 16 Market Street, Falmouth, Trelawny 
    3. Half-Way-Tree: 73-75 Half-Way Tree Rd., Kgn.10. 
    4. Liguanea: 115 Hope Road, Kingston 6 
    5. Linstead: 110 King Street, Linstead, St. Catherine 
    6. Mandeville: Manchester Shopping Centre Shop #3, Mandeville, Manchester 
    7. May Pen: 40 Main Street, May Pen, Clarendon 
    8. Montego Bay: 7 Market Street, Montego Bay, St. James, 
    9. Montego Bay: Unit 33 Fairview Shopping Centre, Montego Bay, St. James 
    10. New Kingston: 53 Knutsford Boulevard, Kingston 5 
    11. Ocho Rios: 7 Newlin Street, Ocho Rios, St. Ann 
    12. Papine: University of Technology (UTech), 237 Old Hope Road, Kingston 6 
    13. Portmore: Lot 1, Sea Grape Close, Portmore, St. Catherine 
    14. Santa Cruz: 56 Main Street, Santa Cruz, St. Elizabeth
    15. Savanna-la-Mar: 123 Great George Street, Savanna-la-Mar, Westmoreland 
    16. Spanish Town: 22 Oxford Road, Spanish Town, St. Catherine 
  9. The Prize Drawing will be conducted on Monday, October 14, 2024, at approximately 11 a.m. at the VM Group Corporate Office, 73-75 Half-Way Tree Road, Kingston 10. 
  10. All winners will be drawn on the Draw Date. In the event VMBS is unable to contact the winners via the information on record within three (3) business days of the Draw Date, VMBS reserves the right to select an alternate winner. 
  11. VMBS reserves the right to verify the eligibility of participants.  
  12. Verification of winning entries will be completed within three (3) working days of the draw. Five (5) attempts will be made to contact each selected winner by telephone and email within five (5) working days of verification. Should the call not be answered, a voicemail will be left. All winners will be advised and announced in the media no later than ten (10) business days after the Member has been contacted and verified as the winner of the promotion. 
  13. The following individuals are not eligible to enter or win: Employees, officers, agents, representatives, and contractors of VM Group, its parent company, local subsidiaries (VM Building Society, VM Wealth Management, VM Pensions Management, VM Property Services, VM Money Transfer Services, VM Innovations, VM Foundation, VM Investments Jamaica Limited, or any other affiliate not listed), and their immediate family (spouse, parents, children and siblings and their respective spouses, regardless of where they reside), individuals living in the same households of such employees, whether or not related, are ineligible to enter or win, and employees of the executing advertising and marketing agency. 
  14. A total of Twelve (12) winners will be awarded: One (1) first prize winner of J$500,000.00; two (2) winners of J$250,000.00, and nine (9) winners of J$100,000. 
  15. VMBS reserves the right to use the names and likenesses of the winners in its advertisements, promotional material, and other purposes in any or all media now or hereafter known throughout the world in perpetuity without compensation. Winners who refuse to have their names and photographs appear in the media will automatically forfeit their prize. 
  16. All winners must present a valid government-issued photo identification (passport, driver’s licence, or national ID) to receive their prize. 
  17. All decisions by VMBS, in respect of all matters relating to the Promotion including the choice of Winner(s), with consultation and prior approval from the Betting Gaming and Lotteries Act, shall be final. 
  18. Eighteen (18) alternate winners will be selected. VMBS reserves the right to award prizes to an alternate winner if: 
    1. Winners cannot be contacted within five (5) days of the draw date
    2. Prizes are not claimed within twenty-eight (28) days of the notification date. Unclaimed prizes will remain the property of the VM Building Society 
    3. Winners forfeit the prize or refuse to have their name and likeness appear in the media 
  19. VMBS reserves the sole right to amend, suspend or terminate this Promotion at any time, with or without notice, subject to the Betting, Gaming & Lotteries Commission’s approval.
  20. VMBS reserves the right, as permitted by the Betting, Gaming and Lotteries Commission, to void any and all entries of an entrant who VMBS believes to have tampered with or impaired the administration, security, fairness, or proper operation of this promotion.
  •  
Savers Survey

Savers Survey

What is your goal?
Do you know the cost of your goal?
How do you rate your budgeting skills?
Do you talk about money with your friends?
Do you talk about money with your partner?
Which best describes your money situation?

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

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