Getting Started Opening an Account Page |JMMB Group Trinidad and Tobago (2024)

FAQs

Getting Started Opening an Account Page |JMMB Group Trinidad and Tobago? ›

Prospective account holders can approach banks like Bank of America, Chase, TD, Citibank, and Wells Fargo, which offer noncitizen accounts. Essential requirements include two forms of TT ID (passport, driver's license) and proof of a US address.

Prospective account holders can approach banks like Bank of America, Chase, TD, Citibank, and Wells Fargo, which offer noncitizen accounts. Essential requirements include two forms of TT ID (passport, driver's license) and proof of a US address.

Select the "joint account" option during the application process with your bank. Provide the bank or credit union with personal information for all account holders, such as addresses, dates of birth and Social Security numbers.

Having a group bank account is the best way to make sure the group's money is kept safely. Most high street banks offer special accounts for community groups. You will need to have at least two members of the group willing to act as signatories.

A foreigner can only open a bank account for themselves in Trinidad and Tobago if they are over the age of 18 years old. If they are under the age of 18 years old, they will need an account that is joined with an adult who fits the eligibility criteria (exact criteria may vary depending on the banking provider).

SCOTIABANK was recognised as the best bank in Trinidad and Tobago in 2024 by Global Finance Magazine.

Required Documents for Account Opening:

Certificate of Registration. Proof of Identity and Proof of Address for all Partners. Proof of address where the business is operating. Partnership Agreement (If none exists, this must be stated in the letter of request)

What are the requirements to open a bank account in RBC Trinidad? ›

There is no monthly service charge for your e-Free account. e-Free activity Fee – Three (3) free in-branch debits per month. If this is exceeded, a flat monthly fee of $18 will apply. There are no charges for use of our Republic Bank Blue Machines (ABMs).

Banking Systems

There are eight commercial banks in TT, comprising a mix of local and foreign banks. Citibank is the only American bank operating in TT.

If you're wondering, “Can I open a bank account in another country?” the answer is typically yes. Whether you are pursuing life as a digital nomad, studying abroad for a semester or two, or traveling with friends or your significant other for a few months, you're going to need access to funds.

A non-US citizen spouse can be a joint owner of the account of the American member but cannot hold his or her own account.

When opening a bank account for your group, the bank may require a Tax ID Number / Employment Identification Number (EIN). If this is the case, we recommend discussing the options with your homegroup members through a group conscience meeting.

Identification for both account owners, like a driver's license, state ID or passport. Personal information for both account owners, including your date of birth, Social Security number and current address.

Group banking is a plan offered by banks to large groups of people such as employees at a company. Potential incentives for group banking can include low- or no-fee checking accounts, lower interest rates, special perks, and discounts.

399Duty to prepare group accounts

(2)If at the end of a financial year the company is a parent company the directors, as well as preparing individual accounts for the year, must prepare group accounts for the year unless the company is exempt from that requirement.