The public is reminded that, as of 1 July, 2025, cotton banknotes will no longer be legal tender. We therefore wish to advise that businesses should continue to accept the old cotton banknotes for all transactions conducted up to, and on, 30 June 2025.
To support this, Bank of Jamaica is exchanging old cotton banknotes for new polymer banknotes, and will continue to do so indefinitely after 1 July 2025. In addition, the deposit-taking institutions (DTIs) have committed to continue to accept the old cotton banknotes from their customers, over the counter, and in some instances, via Automated Teller Machines, at least until 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. For more details on specific arrangements, kindly contact your financial institution.
