Sagicor Bank has revealed that in two months it will discontinue the use of its MyCash prepaid card and its products.

In a notice to customers, the bank said as of May 11, customers will no longer be able to use their MyCash prepaid cards or app.

“We urge you to cancel all direct deposits and/or recurring payments immediately,” the notice said. “We recommend that you utilize all the money in your account as soon as possible and have your account closed by May 11, 2022.”

No reason was given as to why the card service, which began in 2019, will stop. The card is a co-branded prepaid MasterCard offered by Sagicor Bank and Prism, a subsidiary of Digicel.

Contacted on Friday, Candiece Knight, Public Relations and Corporate Social Responsibility officer for the Sagicor group, was unable to say why the card was being discontinued. She asked that an email be sent to her so she could forward it to the necessary persons for a response.

In the notice, the bank said the last day to load funds to their MyCash account will be April 18, 2022.

It said customers can renew and replace cards up to April 18, 2022, and that a monthly fee will still be charged on all open/active accounts until April 30, 2022.

A FAQ section was included in the notice but customers who still have questions, are urged to contact the bank.