What is it?

Local demand deposit accounts are locally held current accounts. They are available in both local currency and foreign currency denominations.

How does it work?

	You are able to deposit to and draw cheques on your locally held account. Deposits can take the form of cash, cheques or wire transfers.
	Cheques drawn on your locally held U.S. dollar accounts are treated as collection items if presented outside of Jamaica.
	At the end of each month you will receive an account statement detailing your transactions for the month. We also offer flexible statement cycles, i.e. weekly, bi-weekly etc.
	All deposits at Citibank®, N.A. Jamaica are insured by the Jamaica Deposit Insurance Corporation (JDIC) up to an aggregate amount of J$300,000 or foreign exchange equivalent. This is in accordance with the rules and regulation established by the JDIC unless otherwise specified. JDIC does not protect against foreign currency losses.

What are the benefits?

	Guaranteed support: You have the guarantee that your cheques have the support and prestige that have distinguished Citibank® throughout the world.
	Wide acceptance: Most businesses and institutions accept your corporate cheques.

What are the requirements?

	For Jamaican dollar accounts an initial minimum deposit of JA$10,000 is required and an average minimum monthly balance of JA$10,000 maintained.
	For US dollar accounts an initial minimum deposit of US$500 is required and an average minimum monthly balance of US$500 maintained.
	In addition to completing our account opening documentation, the following are required for opening any of our chequing or savings accounts: Constitutive documents for your organisation - Certified Two pieces of photo identification for each of the signers on the account(s) Two financial references

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