Old cotton banknotes are no longer accepted at ATMs or branches
In line with the Bank of Jamaica’s transition to polymer notes, MCCU can no longer accept the old cotton-based banknotes. Here’s what members need to know.
In keeping with the Bank of Jamaica’s move to its new banknote series, Manchester Co-operative Credit Union (1977) Limited advises members that the older cotton-based banknotes are no longer accepted for transactions at our ATMs or branches.
Members are encouraged to deposit or exchange any remaining old-series notes as soon as possible to avoid inconvenience.
Why the change
The Bank of Jamaica has phased in a modern banknote family printed on more durable polymer material, with upgraded security features that are harder to counterfeit and longer-lasting in circulation. As the new notes become standard, the older cotton notes are being withdrawn from everyday use.
“If you still have old cotton banknotes, deposit them to your MCCU account or exchange them at the Bank of Jamaica. Once withdrawn, they can no longer be used to pay for goods and services.”
What members should do
You can lodge old notes directly to your MCCU savings account at any branch, where they are credited to your balance in the normal way. Deposited notes are then returned to the central bank through standard banking channels.
Deposits and withdrawals at MCCU
All cash dispensed from MCCU ATMs and teller windows is now issued in the new note series. Everyday banking, deposits, withdrawals, loan payments and bill payments, continues without interruption.
For the official schedule and full details on the note series, refer to the Bank of Jamaica. For help with a deposit, call MCCU at 876.962.0401 or visit your nearest branch.
This notice is provided for member information and reflects Bank of Jamaica guidance at the time of publication.
