The 60-second version
Jamaica bank exit needs zero balance NOC, JMD SWIFT to NRE, and Schedule FA for last FY before India tax residency.
Jamaica uses JMD — wire to NRE before closing US or Netherlands parallel account
NCB Jamaica / Scotiabank Jamaica serve Kingston tourism, refinery, and hospitality payroll — obtain written closure after final credit.
JMD SWIFT to NRE needs FEMA Form A2 at Indian AD bank — retain FIRC for seven years.
Tax lane: tax residency guide for Jamaica exit pattern.
Jamaica bank wind-down
| Bank | Currency | Step |
|---|---|---|
| NCB Jamaica | JMD | Written closure |
| Scotiabank Jamaica | JMD | Zero balance |
| SWIFT | JMD | FIRC trail |
| NRE | INR/USD | Receipt confirm |
Closure
Stop debits
Cancel cards.
Final payroll
Wait for credit.
JMD wire
SWIFT to NRE.
Closure NOC
Zero balance letter.
Schedule FA
Last FY account.
Flow
Jamaica bank kit
- Passport.
- Account stmt.
- Closure NOC.
- SWIFT.
- Tax clearance.
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USD peg
Jamaica JMD is pegged to USD — confirm AD bank accepts JMD or converts before wire.
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FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
Schedule FA?
Declare in last FY you held foreign account.
Brokerage?
Close custody before linked bank if held.
US parallel?
US bank guide if you also held US correspondent account.
TCS inbound?
Large SWIFT may attract TCS at AD bank.
Retention?
Keep NOC and SWIFT 7 years Indian + 10 years US/UK.
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