You may invest FX funds to your JMMB Investments accounts via international electronic transfer, internal transfer between JMMB accounts (via JMMB Moneyline or in branch) or internal transfer from NCB (using NCB Elink).   You may also invest FX cheques.  However, FX cheques drawn on an overseas bank must be payable to JMMB, for us to negotiate it for you, with our overseas partner.

Any JMMB account holder may transfer FX funds between JMMB accounts, or convert funds from one currency to another, by logging into JMMB Moneyline or visiting any of our Financial Life Goal Centres/branches. You may also transfer funds to another JMMB client’s account, or vice versa. In order to do so, you will need to share account names and numbers of the sender/recipient, to do the transfer.  Please refer to our Client Care Centre at 998-5662 or the Moneyline Help menu, if you need assistance using Moneyline.

You may do so by: 
Creating your beneficiary details, i.e. Transaction Type: Local Account; Beneficiary Entity Type: Corporate; Corporate Name: JMMB; Nickname: JMMB; Beneficiary account: Account number 066317145 (for USD), 066015491 (for GBP), 061036458 (for EUR) and 061046771 (for CAD). 

Then selecting Third Party Transfer within NCB.  

In processing the internal transfer, you must select “JMMB” as the beneficiary and include your JMMB Investments payee account number and name in the Transactions Remarks field;  e.g. “1000000 John Brown”. 

Since this is an internal transfer between accounts held at NCB, you must send a screen shot of the completed transfer details to info@jmmb.com to provide us with the further credit details, in order for the investments accounts to be updated in a timely manner.  
 

Effective July 1, 2018, you may no longer invest your FX cash to your JMMB Investments accounts, via NCB.  Instead, you may invest USD, CAD, EUR, GBP cash directly at any JMMB location (excluding Phoenix Avenue).   You may also invest USD cash at any of JMMB’s ETMs or at Sagicor Bank.

Retail clients may invest up to 5,000 FX units per calendar month, and corporate clients may invest up to 15,000 FX units per calendar month, at a JMMB cash-taking branch location, or via our ETMs (JMMB’s cash-taking branch locations accept USD, CAD, EUR and GBP cash; whereas JMMB’s ETMs accept USD cash only).   A fee of 1.50% (inclusive of GCT) is applicable to amounts invested in excess of 500 units per business day, per client. Funds are available immediately upon being processed at a JMMB branch.

Your USD cash investment, via our ETMs, is subject to the limits and fees listed in the question above. Funds are available within two (2) business days.

These funds are held for six (6) business days, unless drawn on JMMB Bank, in which case the funds are held for one (1) business day.  No fee is applicable.   

Funds drawn on overseas banks are available within thirty-one (31) business days. In these instances, please note that the cheque must be payable to JMMB, for us to negotiate it for you, with our overseas partners.  No fee is applicable.  

Funds may take up to three (3) business days to hit your account at JMMB Investments, but are available immediately upon being processed.  Fees are applied when sending and receiving wire transfers. JMMB’s fee for receiving your wire is US$23.30, or the equivalent in other currencies.

Funds are available immediately upon being processed at JMMB, usually within three (3) business days of transfer, provided the payee’s number and name are included in the “Transactions Remarks” field in NCB’s system. To facilitate faster processing time, you must send a screenshot of the completed transfer details to info@jmmb.com.  No fee is levied by JMMB for these FX transfers.  

Sagicor Bank will accept USD cash on JMMB’s behalf, subject to their cash limits. JMMB’s FX cash fee is applicable and funds are processed within three (3) business days. 

Effective July 1, 2018, you will no longer be able to invest these instruments to your JMMB Investments account.