Where should I setup a bank account in Jamaica?
We asked expats in Jamaica what banks they use and there advice about banking. They advised...
"It is advisable for expats to research the type of visa they will require in order to retire in Jamaica. The process to obtain a visa is through the Ministry of Labour and Social Security, and involves submitting evidence of financial stability and health insurance. It is also important to note that Jamaican currency is different from the US Dollar, so it is a good idea to open a local account to accommodate daily transactions. Furthermore, it is important to research the costs associated with living in Jamaica, such as accommodation, food, entertainment and healthcare. Expats should also consider the local climate, culture, and transportation options in order to make an informed decision about retiring in Jamaica," wrote a member who made the move to Jamaica.
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"I chose the Jamaican National Builders Society and opened a savings account where I can transfer money from the States over the phone or internet. I have a debit card and the savings account gives me access to homes for sale and loans processed through the Builders Society," explained one expat living in Negril, Jamaica.
Other Questions:
- What should I pack when moving to Jamaica?
- Where should I setup a bank account in Jamaica?
- Will I be able to find a job in Jamaica?
- What is life like in Jamaica?
- What do expats in Jamaica appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Jamaica?
- Is there a lot of diversity? Are people in Jamaica accepting of differences?
- What are the schools in Jamaica like?
- What are healthcare services like in Jamaica?
- What are medical services in Jamaica like?
- Are healthcare and health insurance expensive in Jamaica?
- What are emergency services like in Jamaica?
- Will I need to travel to see a specialist?
- Are common prescription medications available in Jamaica?
- How are local medical facilities in Jamaica?
- As a foreigner living in Jamaica, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
Where should I setup a bank account in Jamaica?
If you live in Jamaica, newcomers to Jamaica would love to hear your answer to this question.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
