Beginning July 1 this year, all banks will stop issuing new chequebooks or allow the reordering of chequebooks.

Association of Banks in Fiji chairman Haroon Ali says chequebook users are requested to plan accordingly and explore alternative payment options with their bank.

“As part of the Association of Banks in Fiji (ABIF) ongoing commitment to providing efficient and secure banking services, the ABIF would like to inform the public of important changes regarding the usage of chequebooks,” he said.

“Working with the Reserve Bank of Fiji (RBF), the ABIF is modernising Fiji’s payment system through the introduction of new digital payment methods.

“As announced in March 2023, ABIF members are phasing out the usage of cheques, with commercial banks actively upgrading their systems to guarantee a seamless transition for Fijian customers without any disruptions.”

Mr Ali says to align with evolving industry practices and technological advancements, the ABIF is encouraging all chequebook users to transition to alternative payment methods and note that banks are working towards the following milestones (subject to the passing of necessary amendments to legislation by Parliament):

• Beginning July 1, all banks will stop issuing new chequebooks or allow the reordering of chequebooks. Chequebook users are requested to plan accordingly and explore alternative payment options with their bank.

–      Commencing January 1, 2025, all banks will cease processing customer cheques and any customer-issued cheques presented after that date will be considered stale and dishonoured if attempted to be presented at any ABIF member bank.

–             Beginning January 1, 2025, all ABIF member banks will discontinue the issuance of Bank Cheques. However, any bank cheques that have been issued in accordance with current legislation will be processed.

Mr Ali says the RBF and ABIF will work with the office of the Attorney General and the Fiji Law Society on the legislative changes needed to properly carry out the transition.

“We understand that these changes may impact the banking habits of some customers and Banks will endeavour to assist their customers in making a smooth transition.

“We recommend exploring alternative payment methods such as electronic funds transfer, online banking and mobile payments to ensure a seamless and secure financial experience.

“ABIF as well as individual banks will now commence conducting awareness training of digital alternatives to cheques for their customers.”