First Global to open bank accounts for CARE recipientsFriday, May 08, 2020
PEOPLE collecting their Government of Jamaica (GOJ) CARE benefits at GraceKennedy Money Services (GKMS) outlets will be able to open a bank account simultaneously with no hassle with First Global Bank (FGB), GraceKennedy said in a release.
GKMS — the Western Union agent in Jamaica — will disburse CARE funds from its more than 100 agent locations islandwide. The recipients, in order to collect their funds, are required to present:
* A valid Government-issued photo ID (driver's licence, passport, voter's ID);
* Taxpayer registration number (TRN); and
* Their CARE reference number. They will then be required to complete a simplified account opening form and sign an authorisation form. “These reduced requirements are intended to remove some of the barriers customers often face in opening bank accounts. Opening an FGB account also means that the next time the recipient is receiving a money transfer or a Government of Jamaica payment, they will be able to receive the funds directly into their bank account and therefore to their FGB VISA Debit Card, making it more convenient,” said the GraceKennedy release.
The release said both companies were assisting in driving Government's strategy of financial inclusion for all Jamaicans, pointing out that a National Financial Inclusion Strategy report showed that only 30 per cent of Jamaicans reported saving through a regulated financial institution and 65 per cent of all wage earners received their salaries in cash.
“The GraceKennedy Financial Group has demonstrated its support for and belief in financial inclusion for all Jamaicans, most tangibly through the creation of our GK ONE locations. At these locations, customers can access a myriad of personal financial services — banking, remittance, bill payments, consumer loans and insurance. Some locations, in addition, offer cambio services and coin exchange.
“We are now continuing that push for financial inclusion by allowing a simpler way of opening bank accounts for our GOJ CARE recipients. We support financial inclusion because it is a safer and easier way for all customers to manage money.”
Meanwhile, FGB President and CEO Mariame McIntosh Robinson added that having a bank account allows customers to gain access to more financial services, including savings products. “With the COVID-19 crisis, it has become increasingly important for Jamaicans to lessen their reliance on cash. Businesses and services are moving online to cashless channels, and the easiest, most convenient way to ensure constant access is by having a bank account. In addition, once you have a bank account with a free FGB VISA debit card, you can receive your remittances directly to your bank account; receive payments from others; purchase items online; as well as save for the future including participating in our Partna Plan. Very little fees are charged for these services.”
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