COVID-19 Support

If you have lost your job during the pandemic and are experiencing challenges making mortgage or loan payments, reach out to us. Let’s talk so that we can come up with the solutions that best suit your needs. We have a range of options available, including payment moratorium, or an extension on your loan, and assure you that we will work with you to find the solution that’s right for you

We have implemented several concessions to support our Members. If you need cash to meet your obligations and you wish to withdraw funds, there will be no penalty on withdrawals from fixed accounts for April 2020 to June 2020.

However, you may also meet your need for cash with same-day access to a Cash-Secured Loan with a 50% discount on processing fees. That way, you can keep your savings intact.

For more convenient access to the cash you need to support your daily expenses, we will be temporarily increasing your daily ABM and Point-of-Sale limits. This will also assist in limiting your need to visit a branch and help you in your effort to maintain social distancing.

Don’t worry, we’ve got you covered. With our new, improved VM Express Online Banking platform, enjoy the freedom of banking at your convenience without leaving the comfort of your home or office. The new VM Express Online allows you to enjoy the flexibility to:

• Transfer funds locally and internationally to over 10,000 banks
• Move money between accounts
• Pay your loans online
• Pay bills to more than 40 billers
• Buy and sell foreign exchange

If you need cash, you can use your VMBS Express Debit Card at any bank’s ABM near you or pay directly at Point-of-Sale Free of Charge.

We’re happy to help! We understand your concerns, and we are here for you. Contact our Member Engagement Team at the numbers listed below, for assistance. Or, if you have a direct branch representative, feel free to reach out to them, and they will be happy to help.

No need to defer the dream! We’ve got good news! You can apply for your mortgage online at https://vmbs.mymortgage-online.com/.

Also, our VM Property Services Team is ready to help get you into your new home. Property queries and valuations may also be initiated remotely by email at sales@vmpsrealestate.com and payments made via bank transfers to VMBS Bank Account # 22255376 via VM Express Online Banking.

Our VM Wealth Team is here to guide you. We have increased publication of our investor updates to include breaking news on changes in bonds and equity assets which will affect your investments. We want to ensure that you have all the information you need to make the right decisions.

Also, we’ve created some special offers to help you manage your investments during this time.

Equity Trading

We have reduced our equity trading online commission rate to 0.5%

Special Margin loan 

A Special Margin loan allows you to capitalise on opportunities that arise. You can use this special loan to purchase bonds, equities or Unit Trust.  

Also, 

• we have reduced our fees from 1% to 0.75%
• we have a special fixed rate of 8% for three months for new loans

VM Investments Limited

Loan Payments

• We have waived penalties on late loan payments from companies, for 60 days.
• We are also offering companies additional working capital support. Give us a call and let’s work something out for you.

Insurance Premium Financing

• We have reduced interest rates for insurance premium financing by 0.5%

Capital Markets

If your company was planning to raise equity capital through an Initial Public Offering (IPO), we now have a Special $1B Fund to satisfy this need. You can also benefit from a 50% discount on processing fees.

If you are receiving funds from your friends and family overseas, you can utilise our Direct to Bank Service. You may access these funds from any MultiLink ABM using a debit card or make purchases at any Point-of-Sale once you have completed the Electronic Authorisation form.

Accessing Direct to Bank Account is simple and can be obtained in a few steps:

Receivers can:

• Download the form at VMMoneyTransfer.vmbs.com. Complete it from the convenience of your home and submit the documents requested via email to directtobank@vmmoneytransfer.com
• Tell friends and family to select ‘direct to bank’ when sending money transfers through any of the participating partners.
• Collect funds, anytime, anywhere! No need to join the line at an agent!

If you wish to visit a location, you may fill in the form and present your Identification Card and Taxpayer Registration Number (TRN) at any VMBS or VM Money Express Branch to complete the process.

Participating Partners

• Xoom
• Ria
• NCS-eMoney Services
• Xpress Money
• Choice Money Transfer

Our VM Pensions Management Team is on it. You are our highest priority, and we understand that you might be feeling uncomfortable during these uncertain times. We’ve been actively managing your investments and have been conducting regular online meetings to update Trustees. You can rest assured that our team is always in your corner.

Yes we can! The VM Foundation has partnered with the National Parenting Support Commission, United Nations Children’s Fund and Fight for Peace International to launch a Parent Support Helpline for Covid-19. If you need support, here is a list of numbers you may call from Monday to Friday, 10:00 am to 2:00 pm and 4:00pm to 8:00pm.

Download Parenting Support Helpline telephone numbers

All our Branches in Jamaica are open Monday to Friday: 8:45 a.m. to 1:45 a.m.
Our VM Wealth locations are open Monday to Friday 9:00 a.m. to 2:00 p.m.
VM Money Express locations are open Monday to Saturday 9:00 a.m. to 3:00 p.m.
Our Member Engagement Team’s hours have also been adjusted.
New hours:
Mon. – Fri. 7:00 a.m. – 6:00 p.m.
Sat. 10:00 a.m. – 6:00 p.m.
Sun. 10:00 a.m. – 3:00 p.m.