NCB to discontinue international GBP cheque services March 13; cites declining global use of cheque instruments and elevated risk exposure

Effective March 13, the National Commercial Bank Jamaica Limited (NCBJ) will discontinue certain international cheque services denominated in Great Britain Pounds (GBP).

This means NCBJ will no longer accept GBP cheques drawn on overseas banks for deposit to bank accounts or issue GBP drafts drawn on international banks.

However, NCBJ says it will continue to accept for deposit and issue locally drawn GBP drafts that are negotiable within Jamaica only.

The bank says the change follows the discontinuation of international GBP cheque-processing support by NCB’s correspondent banking providers, owing to the declining global use of cheque instruments and their elevated risk exposure.

Customers who currently deposit or purchase GBP drafts are encouraged to utilise wire transfers.