JAM | Jun 20, 2023

BOJ restates confidence in durability, security of new polymer banknotes

/ Our Today

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The Bank of Jamaica in downtown Kingston. (Photo: JIS)

The Bank of Jamaica (BOJ)is today (June 20) reiterating its confidence in the durability of the new series of polymer banknotes amid concerns following a widely circulated social media video in which a woman highlighted a ‘defect’ she observed from an automated teller machine.

According to the woman, she was previously informed that her J$1,000 note would not be accepted for an unnamed transaction even despite her objections that the banknote and others she had used before were only being kept in her purse.

The Central Bank, in a statement on Tuesday, maintained that the substrate and enhanced security features have been subject to rigorous testing of the highest global standards.

As it has commenced a thorough investigation into the social media video and initiated contact with the user, whose platform the clip began making the rounds, the BOJ noted that efforts to retrieve the banknote in question have so far been unsuccessful. 

“The Central Bank remains committed to investigating any genuine concerns or issues surrounding the notes.  BOJ advises that members of the public who have questions or concerns about the banknotes should contact its customer service number at (876) 922-0750,” the bank noted.

BOJ is further acknowledged the circulation of another video depicting liquid being poured on two banknotes.

While it understands the curiosity and interest surrounding the new notes, and while the notes withstood the liquid test, the Central Bank urges members of the public to desist from intentionally subjecting them to unnecessary tests.

BOJ also urged the general public to be responsible in consuming and sharing content as social media platforms are susceptible to the spread of misleading, inaccurate or unverified information.

Continuing, the central bank assured Jamaicans it takes the integrity and security of the nation’s currency seriously and reiterates the importance of maintaining public trust in the new series of banknotes.

“The bank has invested in cutting-edge technologies and conducted extensive research to ensure the durability and security of the polymer banknotes before being released into circulation. Finally, we wish to advise that once a genuine note is damaged or otherwise compromised, it can be exchanged at Bank of Jamaica only,” advised the BOJ.


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