Cotton banknotes to be phased out by July 1 – BOJ
KINGSTON, Jamaica — The Bank of Jamaica (BOJ) is reminding Jamaicans that cotton banknotes will no longer be legal tender after 1 July 2025, as the country continues its transition to the more durable polymer currency.
Businesses and individuals are therefore being urged to continue accepting and using the cotton notes for transactions up to and including 30 June, 2025.
To facilitate the transition, the BOJ has confirmed that it is exchanging old cotton notes for the new polymer versions and will continue doing so indefinitely beyond the July 1 deadline.
In addition, deposit-taking institutions (DTIs) have committed to accepting the cotton notes from their customers over the counter and, in some cases, via ATMs, until at least the end of July 2025.
“Businesses and individuals can therefore rest assured that they will be able to deposit cotton banknotes to their bank accounts or exchange them for new polymer banknotes at their respective DTIs,” the central bank said in a release.
The BOJ is encouraging the public to contact their respective financial institutions for details on exchange and deposit options as the deadline approaches.