KINGSTON, Jamaica—Customers at some Jamaican banks are facing delays in receiving large money transfers after a major upgrade to the country’s core payment network, the Bank of Jamaica (BOJ) has confirmed.

The issues stem from a transition to a new international messaging system for high-value transactions, such as major business payments or property purchases.

The central bank said the upgrade, which took effect on December 15, is part of a global effort to make cross-border and large-scale payments faster and more reliable in the long term.

However, the immediate impact has been disruption. Several financial institutions have reported difficulties in promptly crediting funds to customer accounts, leading to frustration among individuals and businesses awaiting critical payments.

“The public is advised that the national payment platform itself is operating correctly,” the BOJ said in a statement, placing responsibility for the processing delays on internal systems at individual banks. It urged anyone experiencing a hold-up to contact their financial institution directly.

The upgrade had already been postponed from an original November deadline after some banks cited operational challenges, including disruptions caused by Hurricane Melissa. The central bank granted an extension to December 15 to ensure participants were ready.

Officials are now working to resolve the backlog.

“BOJ is actively monitoring the issues and continues to directly engage with payment system participants to ensure timely resolution,” the statement read, acknowledging the serious inconvenience caused by delayed access to funds.

The central bank reaffirmed its commitment to a stable and efficient payments system and said it is working closely with all stakeholders to clear the remaining issues.

Customers are advised to seek timelines for specific transactions directly from their bank.