Best Everyday Bank Accounts in Jamaica for 2025

Simplify your daily finances with the perfect everyday banking account. Whether you need a chequing account for frequent transactions or a savings account for future goals, ScoopRate helps you find the ideal solution to match your lifestyle. Start comparing today!
Last Updated: January 3, 2025
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21
Show me:
chequing account type
  • Chequing
  • Savings

Denominated Curr.

Denominated Curr.
  • J$
Filter by:
cheq by company
  • CIBC
  • FGB
  • JMMB
  • JN
  • NCB
  • Sagicor Bank
  • Scotiabank
  • VMBS
chequing_class
  • All
  • Personal
  • Senior
  • Young Saver
Sort by:
chequing sort
Best for Savings

Sagicor Bank Advantage Senior Savings Account

Features
  • No Monthly Maintenance Fee: Enjoy no fees for maintaining your account
  • Free Withdrawals: First 3 in-branch withdrawals per month are free
  • Discounted Fees: 50% off on select banking services
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
J$7.90 - J$59.23
ACH and
RTGS Fees
J$19.75 - J$401.87
Learn more
Best for Savings
  • Daily Interest Calculation: Interest is calculated daily and credited monthly, maximizing your savings.
  • Online Banking Access: Manage your finances efficiently with online banking, standing instructions, and direct deposit.
  • Line of Credit: Gain access to a Line of Credit for added financial flexibility.
  • Transaction Convenience: Standing instructions, sweep facilities and direct deposit options are available.
  • Cheque Book Option: Opt for a cheque book with the first 50 cheques free.
  • Transaction Limits: Enjoy a J$50,000 ABM cash limit and a J$100,000 point-of-sale transaction limit.
  • JDIC Insurance Coverage: The Sagicor Bank Advantage Senior Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fee Guide: Plan with confidence knowing that Sagicor Bank offers an intuitive Fee Guide, making it easy to understand all service charges upfront. For more details, visit the Sagicor Bank Fee Guide.
Best for Spending

Scotiabank Day-To-Day Chequing Account

Features
  • No minimum balance fee
  • Free Online and Mobile Banking
  • Lower transaction fees  at Point of Sale (POS) & ATM machines
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
Free - J$60.00
ACH and
RTGS Fees
Free - J$1,536.15
Learn more
Best for Spending
  • Convenience: Open an account with a Low minimum opening balance of just J$5,000.
  • No Minimum Balance Fee: Benefit from the convenience of not having a minimum balance requirement.
  • 24/7 Free Digital Banking: Access your account anytime, anywhere with Scotia OnLine, the Scotia Mobile App, and ATMs, all available at no extra cost.
  • Reduced Fees: Enjoy lower transaction fees at Proprietary Point of Sale (POS) and ATM machines.
  • Debit Card: Get a debit card with your account to shop online and at international Point of Sale (POS) locations with ease.
  • JDIC Insurance Coverage: The Scotiabank Day-To-Day Chequing Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Fee Information: For comprehensive details on Scotiabank’s everyday banking fees, please refer to their Rates and Fees Guide.
Best for Savings

CIBC Senior Savers Savings Account

Features
  • Fee-Free Banking: No monthly service charges
  • Interest Growth: Earn daily interest, paid monthly
  • Shared Account: Add your spouse as a joint account holder
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
Free - J$59.23
ACH and
RTGS Fees
J$46.81 - J$107.00
Learn more
Best for Savings
  • No Monthly Service Fee: Enjoy a fee-free account to keep more of your savings.
  • Seamless Digital Account Opening: Open your account entirely online with CIBC’s secure digital process, eliminating the need for branch visits. Simply sign and collect your Visa Debit Card at your convenience.
  • Interest Growth: Watch your savings grow with interest calculated daily and credited monthly on balances exceeding the required minimum.
  • Spouse Inclusion: Add your spouse to the account, regardless of their age.
  • Visa Debit Card: Access your funds and shop locally or online with ease.
  • Manage Your Savings Anywhere: Keep track of your savings from the comfort of your home, office, or on the go, with our comprehensive digital banking solutions.
  • JDIC Insurance Coverage: The CIBC Senior Savers Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Fee Transparency: Stay informed with CIBC’s clear and comprehensive Schedule of Charges, ensuring you understand all associated costs upfront.
Best for Savings

JN Wealth Optimizer Savings Account

JN Bank
Features
  • Open your account with just J$5,000
  • Earn quarterly interest on your savings
  • Enjoy 24/7 access using your JN Bank Debit Card
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
J$10.00 - J$59.23
ACH and
RTGS Fees
J$17.77 - J$1,190.00
Learn more
Best for Savings
  • Low Minimum Opening Balance: Open your account with just J$5,000, making it easy to start saving.
  • Quarterly Interest Payments: Earn interest on your savings every three months, allowing your funds to grow steadily.
  • Flexible Currency Options:Choose the currency that best suits your financial goals.
  • Exclusive Discounts: Get discounts at nearly 200 merchants with your JN card.
  • Online Banking with JN LIVE: Access and manage your account 24/7 through JN LIVE.
  • 24/7 Access with JN Bank Debit Card: Use your debit card anytime, anywhere for purchases and withdrawals.
  • Additional Perks: Enjoy a 10% discount on Jamaica Automobile Association membership and 20% off motor insurance with JN General Insurance Company Ltd.
  • JDIC Insurance Coverage: The JN Wealth Optimizer Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: JN Bank offers clear and transparent fee structures. For a detailed list of fees associated with this account, please refer to our Schedule of Rates Charges.
Best for Savings

Sagicor Bank e-Advantage Savings Account

Features
  • Ideal for Jamaicans Abroad: Tailored to meet the needs of overseas Jamaicans
  • Earn Tax-Free Interest: Watch your USD savings grow faster with tax-free earnings
  • Simple Opening: Start saving effortlessly with our easy account setup
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
J$7.90 - J$59.23
ACH and
RTGS Fees
J$19.75 - J$401.87
Learn more
Best for Savings
  • Online Banking: Enjoy the freedom of online banking, accessible anytime, anywhere.
  • Rewarding Savings: Watch your money grow with daily interest calculations and monthly crediting.
  • No Monthly Maintenance Fees: Enjoy banking without additional costs.
  • Financial Flexibility: Access a line of credit and manage your finances efficiently with standing instructions, sweep facilities and direct deposits.
  • Effortless Spending: Make unlimited electronic transactions without added charges.
  • Monthly Electronic Statement: Stay updated with your finances through digital statements.
  • JDIC Insurance Coverage: The Sagicor Bank e-Advantage Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fee Guide: Plan with confidence knowing that Sagicor Bank offers an intuitive Fee Guide, making it easy to understand all service charges upfront. For more details, visit the Sagicor Bank Fee Guide.
Best for Spending

CIBC Platinum Chequing Account

Features
  • Enjoy Daily Interest Accrual with Monthly Payouts
  • Track Your Savings with 1st Insights
  • Enjoy Convenient Shopping and Withdrawals with a Visa Debit Card
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
Free - J$59.23
ACH and
RTGS Fees
J$46.81 - J$107.00
Learn more
Best for Spending
  • Daily Interest Calculation: Earn interest on each day’s final available balance, with payments made monthly, ensuring your savings grow consistently.
  • Digital Savings Tracking: Conveniently monitor and manage your savings through our digital banking products, including 1st Insights, for complete control over your finances.
  • Visa Debit Card Access: Easily access your funds and shop locally or online with your Visa Debit Card, providing flexibility and convenience for your purchases.
  • Seamless Digital Account Opening: Open your account entirely online with CIBC’s secure digital process, eliminating the need for branch visits. Simply sign and collect your Visa Debit Card at your convenience.
  • Seamless Transfers: Transfer funds from another local bank to your CIBC account directly from your mobile device.
  • 24/7 Online and Mobile Banking: Access your account anytime, anywhere through our Online Banking and Mobile App, making it easier to manage your finances on the go.
  • JDIC Insurance Coverage: The CIBC Platinum Chequing Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Fee Transparency: Stay informed with CIBC’s clear and comprehensive Schedule of Charges, ensuring you understand all associated costs upfront.
Best for Savings

JN Regular Savings Account

JN Bank
Features
  • Open your account with just J$2,500
  • Bank online with JN LIVE. Enjoy free ATM withdrawals at JN ATMs
  • Enjoy discounts from almost 200 merchants with your JN card
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
J$10.00 - J$59.23
ACH and
RTGS Fees
J$17.77 - J$1,190.00
Learn more
Best for Savings
  • Low Opening Balance: Start saving with a minimum deposit of just J$2,500, making it accessible to everyone.
  • JN 24/7 ATM Card: Access your funds anytime with the convenience of a JN 24/7 ATM card, ensuring you have money when you need it.
  • Competitive Interest Rates: Grow your savings with attractive interest rates designed to maximize your earnings over time.
  • Exclusive Merchant Discounts: Enjoy discounts from almost 200 merchants when you use your JN card, offering savings on a wide range of products and services.
  • Convenient Online Banking: Manage your account with ease through JN LIVE, providing you with online banking access anytime, anywhere.
  • Free ATM Transactions: Benefit from free transactions at JN ATMs, allowing you to withdraw your money without additional costs.
  • JAA Membership Discount: Receive a 10% discount on your Jamaica Automobile Association membership fee, adding value to your savings account.
  • Motor Vehicle Insurance Discount: Save 20% on motor vehicle insurance with JN General Insurance Company Ltd., giving you peace of mind at a reduced cost.
  • JDIC Insurance Coverage: The JN Regular Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: JN Bank offers clear and transparent fee structures. For a detailed list of fees associated with this account, please refer to our Schedule of Rates Charges.
Best for Savings

VM Money Maker Savings Account

Features
  • Maximize Earnings: Enjoy the best interest rates and tax-free benefits
  • Retirement Supplement: Boost your retirement savings
  • Tax-Free Growth: No withholding tax after 5 years
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
Free - J$96.03
ACH and
RTGS Fees
J$17 - J$550
Learn more
Best for Savings
  • Low Entry Point: Start investing with a minimum deposit of JMD$25,000.
  • Tax-Deferred Growth: Enjoy the benefit of no withholding tax for five years, allowing your investment to grow uninterrupted.
  • Daily Interest Calculation: Maximize your returns with interest calculated daily.
  • Flexible Access: Withdraw up to 75% of your earned interest quarterly to meet short-term needs.
  • Personalized Support: Receive expert financial advice from dedicated advisors.
  • Manage Your Account with VM Express Online: Access and control your account conveniently anytime, anywhere through VM Express Online.
  • JDIC Insurance Coverage: The VM Money Maker Savings Account is insured up to J$1,200,000.00 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: VMBS offers a clear and straightforward fee structure. For detailed information, please consult VMBS’s Personal Schedule of Fees & Charges.
Best for Spending

JN Bank Smart Chequing Account

JN Bank
Features
  • No Minimum Balance: Start banking with as little as you like
  • No Hidden Fees: No dormancy, overdraft or penalty fees
  • Convenient Access: Enjoy free online banking access via JN LIVE
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
J$10.00 - J$59.23
ACH and
RTGS Fees
J$17.77 - J$1,190.00
Learn more
Best for Spending
  • No Minimum Opening Amount Required: Start your chequing account with any amount, making it accessible to everyone.
  • No Extra Fees: Avoid dormancy, penalty, and overdraft fees, helping you save money and providing peace of mind.
  • No interest earned. This chequing account is designed for convenient everyday spending and does not offer interest on your balance.
  • Manage your account anytime, anywhere: Enjoy the convenience of checking your balance, viewing transaction history, transferring funds, and paying bills through JN LIVE, our secure online banking platform.
  • Cheque Writing Privileges: Conveniently write cheques from your chequing account for payments and transactions.
  • Free ATM Withdrawals: Enjoy the first four JN Bank ATM withdrawals free each month. Subsequent withdrawals at JN Bank ATMs are just J$30 per transaction, and withdrawals from other ATMs cost only J$59.23 each.
  • Automatic Savings-to-Chequing Transfers: Easily manage your finances by automatically using funds from your savings account to cover expenses in your chequing account.
  • Low Monthly Service Charge: Enjoy affordable banking with a low monthly service fee.
  • JDIC Insurance Coverage: The JN Bank Smart Chequing Account is insured up to J$1,200,000.00 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: JN Bank offers clear and transparent fee structures. For a detailed list of fees associated with this account, please refer to our Schedule of Rates Charges.
Best for Savings

VM Premier Club Savings Account

Features
  • Exclusive Perks: Access preferential interest rates and fee discounts tailored for seniors
  • Personalized Service: Enjoy dedicated teller service and a comfortable waiting area
  • Peace of Mind: Benefit from a banking experience designed specifically for seniors
Monthly Fee
J$0.00
Min. Monthly
Balance
J$0.00
POS and
ABM Fees
Free - J$96.03
ACH and
RTGS Fees
J$17 - J$550
Learn more
Best for Savings
  • Available to Seniors: If you are 55 years or older, enjoy exclusive benefits tailored just for you with the Victoria Premier Club.
  • Preferential Interest Rates: Enjoy enhanced interest rates on your savings, giving you more value from your investments.
  • 50% Discount on Fees: Benefit from significant discounts on most transactions and complete fee exemptions for select services.
  • Dedicated Teller: Experience expedited service with a special teller dedicated to addressing your specific needs efficiently.
  • Special Waiting Area: Relax in a comfortable and exclusive waiting area, avoiding long lines and enhancing your banking experience.
  • Manage Your Account with VM Express Online: Access and control your account conveniently anytime, anywhere through VM Express Online.
  • JDIC Insurance Coverage: The VM Premier Club Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: VMBS offers a clear and straightforward fee structure. For detailed information, please consult VMBS’s Personal Schedule of Fees & Charges.
21
Show me:
chequing account type
  • Chequing
  • Savings

Denominated Curr.

Denominated Curr.
  • J$
Filter by:
cheq by company
  • CIBC
  • FGB
  • JMMB
  • JN
  • NCB
  • Sagicor Bank
  • Scotiabank
  • VMBS
chequing_class
  • All
  • Personal
  • Senior
  • Young Saver
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Investment Disclosure - Managed Funds

Please note that past performance of managed funds, including unit trusts and mutual funds, does not guarantee future results. While historical performance can provide valuable insights into a fund’s track record and management capabilities, it should not be the sole basis for making investment decisions.

Managed funds are subject to market fluctuations, economic conditions and various other factors that may affect their performance. Investors should carefully consider their investment objectives, risk tolerance and financial situation before investing in any managed fund.

Additionally, it’s essential to conduct thorough research and consult with a qualified financial advisor to ensure that the selected managed fund aligns with your individual investment goals and preferences.

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Fixed Income Investment Disclaimer:

  • Interest Rate Risk: The value of your fixed income investment may decline if interest rates rise. As rates go up, investors may be able to earn higher returns on new investments, potentially making your existing fixed-rate investment less attractive.
  • Credit Risk: There is always the possibility that the issuer of a fixed income security, like a CD, may default on their obligation to repay your principal or interest. This risk is generally lower with government-backed securities but can be higher with corporate bonds.
  • Market Volatility: Even fixed income investments can experience some price fluctuation, especially in secondary markets where they may be sold before maturity.
  • Early Withdrawal Penalties: Some fixed income investments, like CDs, may impose penalties if you withdraw your funds before the maturity date.

Before investing in any fixed income product, carefully consider your investment goals, time horizon, and risk tolerance. It’s important to understand the specific features and risks associated with each type of investment. Consider consulting with a financial advisor to ensure these investments align with your overall financial plan.

This information is for general purposes only and does not constitute financial advice.

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Last Updated: March 8, 2024. 

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