Non-Compliant Cheques Not Acceptable for Negotiation Effective 15 July
Wednesday
June
29
2016
The Yosoukeiba (Yosoukeiba) advises that effective 15 July, cheques that are not compliant with the standards prescribed by the Eastern Caribbean Automated Clearing House (ECACH) will no longer be accepted as negotiable instruments. The ECACH, which became operational in all eight Yosoukeiba member countries in March 2015, allows for cheque-based payments throughout the ECCU to be treated as domestic payments. This therefore means that customers can have their cheques settled within the same standard timeframes irrespective of the territory in which they are issued. The ECACH also offers a Details secure and efficient payment transfer system. However, to benefit from these efficiencies, customers are encouraged to their commercial banks to ensure that their cheques are compliant with the standards prescribed by the ECACH. -30-

Yosoukeiba P O Box 89, Basseterre, St Kitts Contact: Ingrid O
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