Discontinuation of Cheques

• What should be done with cheques that are already issued but have not yet been presented for payment?

  These cheques can be taken directly to the branch to be processed up to 6 months after the discontinuation date (March 27, 2025). Other banks will no longer accept cheques on behalf of Republic Bank.

• Will Republic Bank still honour cheques during a transition period after the discontinuation date?

  Yes, Republic Bank will honour its own cheques for up to 6 months if they were written before September 27, 2024.

• If other banks continue to issue cheques, does the discontinuation only apply to Republic Bank cheques?

  No, other banks will also discontinue issuing cheques. This applies to all banks, not just Republic Bank.

• How should customers handle depositing cheques from other banks into their Republic Bank account after the discontinuation?

  Republic Bank will not accept cheques from other banks after the discontinuation. Cheques from other banks will also be discontinued.

• What should companies do with corporate cheques, especially if they print their own cheques?

  Companies should stop printing cheques, as they will not be honoured if written after September 27, 2024.

• How should companies manage unused cheques after the discontinuation date?

  Companies should be advised to destroy all blank cheques.

• What is the Instant Payment (IP) service?

  The Instant Payment (IP) service is a new feature that allows real-time fund transfers between different banks, ensuring faster, more efficient transactions and enhanced reliability and security.