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Direct Deposit
News
Customer Service Day - October 7, 2024
10/11/2024 11:01:53 AM
On October 7th, the National Insurance Board marked its 50th Anniversary. This Golden Jubilee coinci...
read more...
Coming soon: NIB’s C-10 EzSUBMIT & PAY Mobile App!
10/10/2024 12:12:10 PM
One of several technology upgrades this year - the C-10 EzSUBMIT & PAY Mobile Application will revol...
read more...
Public Notice: Temporary Office Closure Due to the effects of Hurricane Milton
10/10/2024 5:16:46 AM
The National Insurance Board wishes to advise the public that the offices located on the islands of ...
read more...
Public Notice: Temporary Office Closure - Due to the effects of Hurricane Milton.
10/9/2024 1:16:51 AM
The National Insurance Board wishes to advise the public that the Bimini Local Office will be CLOSED...
read more...
50th Anniversary Service of Thanksgiving and Praise
10/8/2024 3:13:00 AM
The National Insurance Board (NIB) family gathered at the historic Grants Town Wesley Methodist Chur...
read more...
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Direct Deposit
5/19/2010 7:30:11 AM
In February 2006, the National Insurance Board (NIB) began the initiative to have all long-term benefit and assistance payments deposited directly into pensioners’ bank accounts. Apart from the efficiency gained as a result of the direct deposit, NIB considered the initiative to be a significant step forward in ensuring that the actual process of paying pensions and assistance payments was more humane and individualized, as well as confidential.
Since February 2006, NIB has had relatively good success with its push for direct deposits; however, there remain several hundred pensioners who still collect payments from pay stations for various reasons. To increase the conversion rate to 100%, i.e., to ensure that all payments are direct deposited, NIB earlier this year solicited the assistance of the Bank of The Bahamas (BOB), who quickly came on board with a process for opening bank accounts at our New Providence Local Offices, to facilitate the smooth deposit of NIB payments. Since February of this year, more than 100 pensioners have taken advantage of BOB’s in-house presence at NIB pay stations in New Providence to open the required bank accounts.
With the measure of success with direct deposits, NIB made the decision that April 2010 would be the last month in which pensioners in New Providence would be able to collect cheques in person. In March and April during pension payment times, the affected pensioners were notified in writing and by word of mouth of this decision. Going forward, pension payments to individuals in New Providence will be made through direct bank deposits only, and over the next few months, the same strategy will apply in all islands where this option is convenient to pensioners, and where NIB does not make cash payments due to the absence of a Financial Institution and/or Post Office.
It is acknowledged that this firm change in our policy may create a problem for some who may still be without bank accounts; therefore, on Tuesday, May 25, Bank of The Bahamas will again have officers at NIB’s Jumbey Village Local Office to facilitate the opening of accounts. Cheques will only be issued to persons bringing in their bank account information, opening bank accounts with BOB on that day, or in cases where it can be confirmed that opening a bank account is not possible.
NIB recognizes that the Bank of The Bahamas may not be the preferred bank of all of its pensioners. In this regard, while the convenient option for bank account opening will exist at our Head Office on the specified date(s), claimants are free to choose any other bank, including the Post Office Bank with convenient locations throughout the island, and to bring in the account details to facilitate the May payment via cheque and all future payments via direct deposit.
To open an account with BOB, bring along a copy of your passport or birth certificate, and your National Insurance card. If you do not have a passport or birth certificate, Bank officials will use your National Insurance seniors/pensioners card as identification.
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Customer Service Day - October 7, 2024
10/11/2024 11:01:53 AM
On October 7th, the National Insurance Board marked its 50th Anniversary. This Golden Jubilee coincided with our annual Customer Appreciation Day, which is dedicated to expressing gratitude to our valued customers through hospitality and service. Across The Bahamas, each Local Office invited customers to join the celebrations, where they enjoyed treats and giveaways.
Coming soon: NIB’s C-10 EzSUBMIT & PAY Mobile App!
10/10/2024 12:12:10 PM
One of several technology upgrades this year - the C-10 EzSUBMIT & PAY Mobile Application will revolutionize your contribution management, resulting in a better customer experience, and an increase in compliance.
Public Notice: Temporary Office Closure Due to the effects of Hurricane Milton
10/10/2024 5:16:46 AM
The National Insurance Board wishes to advise the public that the offices located on the islands of Bimini, Abaco and Grand Bahama are temporarily CLOSED due to impending weather conditions resulting from the effects of Hurricane Milton.
Public Notice: Temporary Office Closure - Due to the effects of Hurricane Milton.
10/9/2024 1:16:51 AM
The National Insurance Board wishes to advise the public that the Bimini Local Office will be CLOSED tomorrow, October 9, 2024.
50th Anniversary Service of Thanksgiving and Praise
10/8/2024 3:13:00 AM
The National Insurance Board (NIB) family gathered at the historic Grants Town Wesley Methodist Church to mark a significant milestone—NIB’s 50th anniversary. This church, which was the first place of worship for the NIB family five decades ago, provided a reflective and fitting backdrop for the commemorative service.
Fake Ad
8/13/2024 4:06:11 PM
Every 2 years, based on the 2010 Amendments to the National Insurance Regulations, there is an automatic increase to the insurable wage ceiling, pensions and specified grants.....
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