Cash in those old notes
The end is nigh for Bermuda’s “legacy” — horizontal bank notes.
Bermuda Monetary Authority reminded the public today that the December 31 deadline is “fast approaching”.
After that cut-off point, the old notes will no longer be considered legal tender — but can be exchanged for new notes at banks and credit unions.
The BMA cannot exchange notes and they cannot be switched at stores or other cash businesses.
The switch to new banknotes was announced in June and the BMA’s director of operations, Shanna Lespere, said the legacy notes had been gradually culled from circulation since, in tandem with local banks.
Although the legacy notes will only be legal tender for a matter of weeks, the public has ten years to exchange them.