Jamaicans to receive new banknotes this week

The Bank of Jamaica (BOJ) has announced that it will be extending its opening hours, starting Thursday, June 15, to facilitate the exchange of old banknotes for new polymer banknotes.

According to a release on Tuesday, BOJ said that the new banknotes will be available as of Thursday, with the bank being open between the hours of 9 am and 2 pm.

The bank outlined that individuals who wish to exchange old banknotes at BOJ must ensure they have the following:

1. Valid Government-issued photo identification (eg Driver’s Licence, Passport, or National Identification Card).


2. Taxpayer Registration Number (TRN)


3.   Source of funds documentation (salary slip, bank statement, job letter, work permit et cetera) for transactions reaching or exceeding US$1,000 or its equivalent in any other foreign currency.

“Please note the bank may, at its discretion, request similar information for amounts below US$1,000,” BOJ further said.

It also added that it will verify and authenticate the old banknotes as normal before allowing an exchange.

The BOJ also informed the public that both the old and new banknotes will co-exist as both can be used to carry out transactions.

BOJ will resume its usual banking hours of 9 am to 1 pm as of June 26, 2023.