FAQ

Question :	Who are the directors of Sterling?
Answer :	Sterling's directors are Charles Ross and Mildred Moss.

Question :	How long has Sterling been around?
Answer :	Sterling was founded in September 2000 and began operating in March 2001. Read more in About Us.

Question :	Do you accept cash?
Answer :	Due to safety concerns, Sterling currently does not accept cash at our office. However, cash may be deposited directly to our NCB bank account. Deposits in excess of US$1,000.00 will attract a bank charge. The copy of the deposit slip should then be faxed or taken to us for further investment to your account. You may call us for the bank account numbers.

Question :	Are there any management fees or charges?
Answer :	No, currently there are no management fees or other charges on our money market investments.

Question :	Can I lose the money I invest?
Answer :	As with any investment it is possible to lose money through investment activity. However if you invest in government securities through Sterling then your investment is backed by the full faith and credit of the Government of Jamaica. All client accounts are tied to specific securities held on their behalf and in the unlikely event that Sterling is dissolved, investors have recourse to these securities, in that the Receiver would sell the underlying asset and deliver to the investors, their proportionate share of these securities.

Question :	What do I need to open an account at Sterling?
Answer :	We require the following minimum investment amounts if you are opening an account: JA$ repos, a minimum of J$100,000.00 US$ repos, a minimum of US$5,000.00 US$ bond account, a minimum of $10,000.00 US$ Long Term Investment Account (LIA), a minimum of $1,500.00 To open an account: You must be 18 years old and over Valid identification card (Passport, Drivers License, Electoral or National ID) and in the case of the Long Term Investment Account (LIA), your TRN is required You will be required to complete an Account Opening Form, Signature Card and an LIA Agreement. The Account Opening Form and Signature Card Form can be found in our Information Centre.

Question :	Do I have to bring a manager's cheque to make an investment?
Answer :	No you do not. While we recommend a manager's cheque, any cheque will do. However, you will not receive value for your investment until your cheques are cleared by the bank. Third party company cheques are not accepted.

Question :	Can I get back my money at any time?
Answer :	Yes you can. However, depending on the instrument in which you have chosen to invest, you may lose some interest if you break your investment before maturity.

Question :	What are the current rates?
Answer :	Please visit our JMD Rates and USD Rates pages for all current rates.

Question :	Does Sterling have Deposit Insurance?
Answer :	No. Sterling is a licensed securities dealer and as such our clients' investments are not covered by the Jamaica Deposit Insurance Corporation (JDIC). However, investments placed at Sterling are secured by government paper. There is therefore no need for insurance. In contrast, bank investments are most times secured by assets (e.g. cars, houses, land) that can lose value or be destroyed. As a result insurance is required for the depositors' safety. In the case of our US$ investments our overseas brokers, Bear Stearns and Prudential, provide insurance coverage of US$60 million on our accounts with them which hold our clients' investments.

Question :	Will I lose my investment if your institution should be dissolved?
Answer :	No. Because Sterling is your agent and investments are held in your name, even if Sterling is dissolved, your money can be traced and the Receiver would sell the securities on your behalf and distribute the proceeds according to your level of ownership.

Question :	Who regulates Sterling?
Answer :	Sterling is regulated by the Financial Securities Commission (FSC).

Home

Investment Products

Mutual Fund

Investor Education

Customer Care

Rates

News

Blog

About Us

Latest News