Business

LIVE by JN can transfer third party funds

Sunday, July 10, 2011    

Print this page Email A Friend!


LIVE by JN, the Internet banking portal of the Jamaica National Building Society (JNBS) has added a new “third party fund transfer” feature, which will allow members to conduct transactions between accounts.

The third party funds transfer service is the most recent addition to the banking services provided via the upgraded portal to make money management more convenient for JN members, says Leon Mitchell, JN Group Marketing, promotions executive.

“This service enhancement compliments the Jamaica National EPlan, which encourages members to use alternate transaction channels, such as the LIVE by JN Internet portal and ATMs, to conduct business and manage their funds electronically.”

He pointed out that now that members can transfer funds to the account of another party, online, they will be able to reduce their visits to branches to carry out these transactions.

“This is of particular importance to members who live overseas, who may need to move funds from one account to another, to assist family members, locally or overseas,” he confirmed.

Ricardo Dystant, JNBS manager of Echannels and discount business, elaborated more about the process, explaining that, “To facilitate the transfer of funds, members will be required to complete a LIVE by JN third party transfer application form, which are available at local branches, and JN Representative Offices in the United Kingdom, the United States of America and Canada.

The information will be processed within 24 hours; and the member will be e-mailed a password that will enable him/her to complete funds transfers. “Users will be required to use this password to authorise all funds transfers,” he said.

Dystant noted that this new development is laying the foundation for additional linkages, using the internet banking portal, “Soon, we will enable our members to transfer funds to commercial banks, as well.”

ADVERTISEMENT

POST A COMMENT

HOUSE RULES

 

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT
ADVERTISEMENT

Poll

Is it OK for the NHT to venture into businesses other than housing?
Yes
No


View Results »


ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT