JAMAICA is set to eliminate cheque usage in the next two years as the Bank of Jamaica (BOJ) and Jamaica Bankers Association (JBA) have set a March 2028 timeline to discontinue the use of cheques, in lieu of electronic transactions.

The Bank of Nova Scotia Jamaica Limited (BNSJ or Scotiabank) and First Global Bank Limited (FGB) recently emailed their customers to indicate that cheques equal to or greater than $1 million will no longer be accepted as of September 1. That will be followed by a $500,000 limit by March 2027, a $100,000 limit by September 2027, and a full discontinuation of cheques on March 1, 2028.

“These changes now form part of a broader, industry-wide initiative led by the Bank of Jamaica (BOJ), in coordination with the Jamaica Bankers Association (JBA), to progressively reduce and eventually eliminate cheque usage in Jamaica while encouraging the use of safer and more efficient electronic alternatives,” FGB said in a May 26 email to customers.