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.”