First Global Bank opening 11,000+ savings accounts for unbanked Jamaicans

Thousands of Jamaicans who participated in the Government of Jamaica (GOJ) CARE programme have applied for savings accounts from GraceKennedy’s commercial bank, First Global Bank (FGB), making the initiative a success.

Since its introduction just over a week ago, the Bank has recorded over eleven thousand applications for saving accounts by persons who selected GraceKennedy Money Services (GKMS)/Western Union as their pay-out location for their Compassionate Grant. 

In supporting financial inclusion for all Jamaicans, the commercial bank from GraceKennedy simplified the account opening process for GOJ CARE recipients allowing them to use a GOJ issued ID and Taxpayer Registration Number(TRN).

President and CEO, Mariame McIntosh Robinson shared that there has been an overwhelming level of interest in accessing financial services among GOJ CARE recipients.

Commenting on the initiative she said, “At GraceKennedy, we realize that the unbanked members of society have been disproportionally affected by the onset of this global pandemic. While we have been pursuing financial inclusion for a few years and opening accounts for the unbanked, the GOJ CARE programmed presented an immediate opportunity to bank more Jamaicans with reduced account-opening requirements given pre-vetting done by GOJ and transaction limit set on the accounts. Now more than ever, Jamaicans must be given the opportunity to enter the formal sector to enjoy benefits of savings, pension, payments and so on. We thank the over 11,000 Jamaicans who have chosen us as their banking partner over the last few weeks – we stand ready to serve”.

FGB representatives have been assigned to 60 GKMS locations facilitating quick and easy sign up for savings accounts with no account-related fees and access to a free VISA Debit Card. This support for the unbanked through the GOJ’s CARE programme is another in a sequence of financial inclusion efforts by the Bank.

In 2019, FGB was the first bank to introduce agent banking in Jamaica, which allows for the provision of banking services by a contracted third-party community business such as a remittance company, supermarket etcetera.   FGB has rolled out 11 agent locations islandwide at GraceKennedy Money Services locations with more to come given GKMS’ over 200 locations.

In describing the sub-brand, First Global MoneyLink, which includes both banking agents and mini-branches, Arlene Williams,  Vice President- Personal and Business Banking shares,  “We are very pleased with the roll-out of our FG MoneyLink locations across the island as we work to bring banking to communities, especially those that are underserved and in which FGB previously had no presence. The feedback we have received is encouraging. Jamaicans truly appreciate the local bank from Grace right around the corner within their communities.”

To continue to accommodate the increasing demand, the Bank will be extending the account opening after the official collection period ends; so, every person who received the CARE benefit can visit a First Global Bank branch or mini-branch or visit the website www.firstglobal-bank.com  to open an account with these same reduced requirements.

For more information on opening an account with First Global Bank, customers are encouraged to contact the bank at 888-CALL FGB (225-5342)