FAQs

Account Queries

How do I open a new account?

Opening a new account is easy. Visit the nearest VMBS branch or Representative Office with the following documents:

  • Valid Identification – Passport, Drivers Licence, Voter Identification card, State Identification, Citizenship Card
  • TRN, SSN, NI card, SIN
  • Proof of Address – Utility Bill, Bank Statement, Credit Card Statement (which should be 6 months old or less)
  • Two (2) References completed on your behalf by any two of the persons listed at the bottom of the Reference Form

If you are overseas and cannot visit a Representative Office, download the following forms for completion:

Ensure your signature is on all the documents notarised. Mail the documents along with your personal cheque or money order made payable to VMBS to:

Victoria Mutual Building Society
8 – 10 Duke Street, P.O. Box 90
Kingston, Jamaica

What are the documents required to become a VMBS member?

To become a VMBS Member, you need:

  • Valid Identification – Passport, Drivers Licence, Voter Identification card, State Identification, Citizenship Card
  • TRN, SSN, NI card, SIN
  • Proof of Address – Utility Bill, Bank Statement, Credit Card Statement (which should be 6 months old or less)
  • Two (2) References completed on your behalf by any two of the persons listed at the bottom of the Reference Form
  • Member Information Form, Reference Forms (for local or overseas members), Signature Card, and Proxy Form, which may be downloaded from our website and completed. Please note that forms signed outside of the presence of a VM representative must be notarized and the signatures should match those on your ID.

How do I contact a Financial Services Specialist to assist with opening an account?

Our dynamic team of financial experts may be viewed at this link, “Financial Service Specialists” .

How do I add someone to my existing account?

To add someone to an existing VM account, download our Addition of Name Request and New Account Application forms. If the person you wish to add is not an existing VMBS Member, download the following forms for their completion:

The complete list of documents needed may be found under the section ‘What are the documents required to become a VMBS Member?’ Once the documents have been completed, submit to your nearest VMBS Branch or email to manager@vmbs.com.

How do I update my personal information/my Member records?

In order to update the personal information we have for you, download the Member Information form, Proxy form, Reference form and Signature Card. Once you have completed them, submit to the nearest VMBS Branch with the following documents:

  • Valid Identification – Passport, Drivers Licence, Voter Identification card, State Identification, Citizenship Card
  • TRN, SSN, NI card, SIN
  • Proof of Address – Utility Bill, Bank Statement, Credit Card Statement (which should be 6 months old or less)
  • Two (2) References completed on your behalf by any two of the persons listed at the bottom of the Reference Form

If you are overseas and cannot visit a Representative Office, signatures on the forms must be notarized and sent to:

Victoria Mutual Building Society
8 – 10 Duke Street, P.O. Box 90
Kingston, Jamaica

How do I remove a name from an account?

Removing a name from an account requires that you close the existing account and open a new account in the name(s) you desire. Please see the section on New Account Opening for the documents which may be required.

How do I reactivate my dormant account?

If you have not used your account in over 18 Months, visit the nearest VMBS branch or Representative Office with the following documents:

  • Valid Identification – Passport, Drivers Licence, Voter Identification card, State Identification, Citizenship Card
  • TRN, SSN, NI card, SIN
  • Proof of Address – Utility Bill, Bank Statement, Credit Card Statement (which should be 6 months old or less)
  • Two (2) References completed on your behalf by any two of the persons listed at the bottom of the Reference Form.

You will need to make a lodgement or withdrawal to reactivate your account.

If you are overseas and cannot visit a Representative Office, download the following forms for completion in addition to the above documents:

Ensure your signature is on all the documents notarised. Mail them along with your personal cheque or money order made payable to VMBS to:

Victoria Mutual Building Society
8 – 10 Duke Street, P.O. Box 90
Kingston, Jamaica

I want to close my account. What does the process involve?

In the event that you need to close your account, you should visit the nearest VMBS branch in Jamaica or the Representative Office in the USA or UK and complete a Close Account Request Form. Members who wish to submit Close Account requests by email to manager@vmbs.com must ensure they have completed and submitted an Electronic Indemnity form to the nearest branch.

How do I complete a Close Account Form?

Please see the guidelines for completion on page 2 of the Close Account Request Form.

How do I make changes or update an account after one account holder has passed away?

To make changes to an account following the death of an account holder, you need to submit the original or certified copy of the death certificate to the nearest VMBS Branch or Representative Office in person or via mail.

How do I obtain funds from an account where the sole account holder has passed away?

VMBS can only legally release Funeral Expenses from an account where the sole account holder is deceased. To obtain additional funds or close the account, the named Executor or Administrator of the deceased’s Estate must submit the original or a certified copy of:

  • The Probate where the deceased left a Will
  • The Letters of Administration where the deceased did not leave a Will

Can I send my salary or salary deductions to my VMBS account?

Yes, you may send your salary or salary deductions to your VMBS account. Simply email us at manager@vmbs.com for information, then send your salary and salary deduction batches to salaryexpress@vmbs.com.

How do I complete a Withdrawal Request Form?

The Withdrawal Request Form has completion guidelines on its second page.

ABM

How do I apply for an ABM card?

To apply for an ABM card, visit the nearest VMBS branch in Jamaica with valid identification. Valid Identification – Passport, Drivers Licence, Voter Identification card, State Identification, Citizenship Card.

Debit Cards

Other financial institutions offer international debit cards. When will I be able to get a debit card for use in the UK?

We are currently in the process of developing an international debit card. Members will be provided with more information closer to the launch date.

Feedback

How do I give a suggestion or feedback?

We welcome your suggestions, as we seek to serve you better. To give your feedback now, click here or email us at feedback@vmbs.com or manager@vmbs.com.

How do I submit feedback to Senior Management?

For feedback specifically related to Senior Management, send an email to manager@vmbs.com or feedback@vmbs.com, or click here to give your feedback now.

I received excellent service from a VM Team Member. How do I submit a compliment?

We are happy to hear that our team has served you well. To share a good customer service experience, please email us at feedback@vmbs.com or manager@vmbs.com. You may also click here to give your feedback now.

I had a bad experience. Where can I register a complaint?

We always seek to provide you with outstanding service, but sometimes we miss the mark. We welcome your feedback to help us do better in the future. Please email us at feedback@vmbs.com or manager@vmbs.com or click here to give your feedback now.

Fees

Do I have to pay a fee to deposit money?

VM remains committed to charging our Members ‘No or Low Fees’ on transactions. However, based on changes in the Banking sector in 2016 and continuing into 2017, we can no longer absorb the costs that have always been charged with deposits in the UK. Members will therefore have to pay the associated fees to make deposits.

Loans
Locations

Is there a plan to have more branches in Jamaica in areas like St. Thomas, St. Mary or Portland?

We are reviewing our branch network in Jamaica with the view of increasing our touch points throughout the island.

When will VM open other branch locations in the UK?

Providing convenience to our Members is always a priority for us. With that in mind, we are currently reviewing locations that would best suit our Members in the UK. We will provide updates of any location changes.

Why did VMBS change Banks and move to Citibank?

As part of their de-risking strategy, international banks offering correspondent banking to the Caribbean decided to withdraw banking services from Caribbean banks. Every Jamaica financial institution was impacted by the decision. VMBS tried every option available to maintain the relationship. However, after several meetings and correspondence with the Head of Banking, we were forced to close the account and make alternative arrangements.

There is no Citibank branch on High Street. How can I make deposits to my account?

Citibank does not offer retail banking, so there is no branch on High Street. Their office at Canary Wharf does not facilitate deposits over the counter or from walk in Members. For our Members with bank accounts in the UK, deposits must be made via (i) wire transfer, (ii) SWIFT payment, or (iii) by visiting your bank and requesting a transfer of funds from your account to VMBS.

Where your account is only with VM, you may use our Remittance partner Ria. They offer direct to bank services, so the funds can be deposited to your account at VMBS.

If you require a third party to collect the cash you may use MoneyGram or Ria. Visit your VM information Desk or refer to our Wire Transfer/Sending Funds from Overseas flyers for further details.

Mortgages

How can I check if I qualify for a mortgage?

To check if you qualify for a VM mortgage, submit the following documents and information to our Mortgage Centre website:

  • The price/value of the property
  • The deposit/down payment amount
  • Payslips for the last three (3) months
  • Job Letter
  • Completed Income & Expenditure Form
  • Credit Report (for overseas applicants, your credit score must exceed 660)

How do I pay my Peril Insurance & Group Mortgage Protection Insurance?

Peril Insurance premiums become payable on February 1 each year and GMPI Premiums become payable on October 1 each year. You may make one-off or multiple lump sum payments towards your Peril Insurance or GMPI by visiting the VMBS branch most convenient to you. If you have an Electronic Communication Indemnity in place, download and complete our Withdrawal Request Form and email to manager@vmbs.com.

Can I make lump sum payments to my mortgage account?

You may pay up to $500,000 per year to the principal of your mortgage. To make a payment in excess of $500,000, you must complete our Notice Payment Form, giving three months’ notice of your intention to make the lump sum payment. Failure to give notice will result in a penalty of three months’ interest.

How do I get back my Title after repaying my mortgage?

When you have repaid your mortgage, VMBS’ interest in your property must be removed. The process of removing VMBS’ interest is referred to as Discharge of Mortgage. You may choose one of the following options to complete the Discharge of Mortgage:

  • Request in writing that VMBS discharges the mortgage in-house, and pay the relevant fee
  • Request in writing that your Title and the Discharge of Mortgage be sent to an attorney of your choice for the discharge process to be completed
  • Collect your Title and the Discharge of Mortgage and complete the process by visiting the Titles Office in Jamaica

All mortgagees will be required to sign the requests mentioned as well as collect the Title.

How do I close out my mortgage account before maturity?

In order to close out your mortgage account before it matures, you should complete our Notice Payment Form, giving three months’ notice of your intention to pay off your mortgage. Failure to give notice will result in a penalty of three months’ interest.

How do I apply for a mortgage?

For details on the mortgage application process, please view our Mortgage Loan Application Checklist by visiting this link – https://mortgagecentre.vmbs.com/.

Online Banking

How do I access online banking?

To access VMBS Express Online Banking, select the icon at the top right hand corner of our website or click here. Proceed to sign in or register on the application page that is launched. For assistance, please contact our Member Engagement Team toll free at 1-888-967-8627.

Do I need to update my account to register for online access?

Our online registration process has improved for faster access to internet banking. For smooth processing however, we need to have current personal details on file for you. Outdated information will result in delays with processing your online application request. Please click here to sign in to online banking.

How do I access currency exchange on online banking?

We are currently in the process of updating our online banking service to facilitate currency exchange. We will keep our Members updated on any progress.

How do I access to business accounts on online banking?

We are currently in the process of updating our online banking service to facilitate access to business accounts. We will keep our Members updated on any progress.

How do I request an account statement?

There are several ways to get an account statement. You may register for Online Banking and view your account activity online, send a request to manager@vmbs.com, chat with us online, or visit the nearest branch location.

Statements

I want an account statement, how do I request it?

Register for Online Banking and view your account activity/ send a request to manager@vmbs.com, chat with us or visit the nearest location.

Transfers

Can I send instructions to Victoria Mutual via email?

Members who wish to send instructions to VMBS by email must have an Electronic Communication Indemnity form in place. You may visit our website and download the form, complete and submit at the nearest branch. Once this has been done, you may now send account instructions to manager@vmbs.com.


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