Scotiabank Jamaica Account Requirements

Account Requirements1 Chequing Account Savings Account
Personal Commercial6 Regular Foreign
1. Minimum opening balance $5,000 $10,000 $5,000 $100
2. A valid picture ID, e.g.,        
   Driver's licence  
   Voter's ID, etc.  
   Copy of passport3  
   Valid picture ID of the signatories of company      
3. References5        
   Two references, e.g.        
    - Employer  
    - Justice of the Peace4  
    - Bank references on company and its director    
4. Bank documents to be completed by applicant        
   Signature Card
   Operation of Account Agreement  
   One-Step Application  
   Application for Business Services      
    - Date of Birth  
    - Marital Status  
    - Occupation  
    - Employer  
    - Tax Registration Number  
    - Address and length of time at address
    - Anticipated type, method & size of deposits &
    - Source of funds
    - Personal data of principals/directors      
    - Name of attorney & accountant      
    - Other financial data, such as previous bankers,
    - Certificate of Incorporation      
    - Letter of introduction for each signing officer      

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