The Society offers a number of options to save in foreign currency. These accounts are offered as Share or Deposit Accounts and are available to both Residents and Non-residents. A Share Account refers to a savings account that entitles the holder to a share in the ownership of the Society and the right to vote at General Meetings. While a Deposit Account  is a savings or investment account that does not entitle the holder to any of the rights given to a Share Account holder. All accounts offered in the United Kingdom are deposit type accounts.

‘A’ Accounts

These accounts are available to Non-residents only and are accessible as both Share and Deposit Accounts. Contact  us today for more details on this value added savings option.

Features and Benefits

  • Available only to persons living outside of Jamaica.
  • Offered in all three major currencies (US$, GB£ and CA$).
  • Balances are maintained in foreign currency.
  • A minimum of 10 units of foreign currency is required to open these accounts.
  • Withholding tax is not deducted from the interest earned and accumulated savings.
  • Savers may opt for a regular Statement Account or Fixed Term Certificate Account.
  • Offered as a Share Account except in the UK where the offering is a Deposit Account.

Rates

*Conditions apply

Victoria Benefit Account

This account is available to Non-Residents only and is accessible as both Share and Deposit Accounts. Contact us today for more details on this value added savings option.

Features and Benefits

  • Accepts only foreign currency.
  • Foreign currency is converted at the applicable rate of exchange on date of receipt to Jamaican Dollars.
  • Balance maintained in Jamaican Dollars.
  • Attracts a higher rate of interest.
  • No withholding tax.
  • Can be a Statement Account or a Fixed Term Certificate Account.
  • Offered as a Share Account except in the UK where the offering is a Deposit Account

Rates

*Conditions apply

Victoria FX Plus

This account shares similar benefits to the 'A' Account except it is only available to Jamaican Residents and the tax is withheld and deducted from the interest earned on the accumulated savings. This account may also be offered to Non-Residents who are joint account holders with a Jamaican Resident.

Features and Benefits

  • Offered in all three major currencies (US$, GB£ and CA$).
  • Balances are maintained in foreign currency.
  • A minimum of 10 units of foreign currency is required to open these accounts.
  • Offered as a Share Account except in the UK where the offering is a Deposit Account.

Rates

*Conditions apply