CIBC Caribbean to Discontinue GBP Cheques and Bank Draft Services by March 31

CIBC Caribbean has announced that it will discontinue the issuance and processing of cheques and bank drafts denominated in Great Britain Pounds (GBP) beginning March 31, 2026, as part of a broader shift toward modern electronic payment systems.

The regional bank said the move comes after its correspondent banking partner ended support for GBP cheques and drafts, reflecting wider changes in the global banking industry where digital transactions are increasingly replacing traditional paper-based payment methods.

Clients who currently hold GBP cheques or bank drafts are being urged to present them at any CIBC Caribbean branch for encashment or deposit before the March 31 deadline to ensure they are processed in time.

Executive Director of Personal and Business Banking at CIBC Caribbean, Deepa Boucaud, said the change aligns the bank with international best practices as financial systems continue to modernise.

She noted that electronic payments now offer greater security, speed, and reliability compared to paper instruments.

While acknowledging that some customers have long relied on cheques and drafts, Boucaud said the transition will allow the bank to provide faster and safer alternatives for sending and receiving funds.

CIBC Caribbean is encouraging clients to use its Online Banking platform and Mobile App to send and receive GBP wire transfers from anywhere in the world. The bank said electronic transfers provide enhanced security, improved tracking, and quicker settlement.

Customers who are not yet registered for Online Banking can sign up through the bank’s website or download the mobile application through the Apple App Store or Google Play.

The bank added that it remains committed to supporting clients through the transition. Seniors who previously relied on bank drafts will receive personalised assistance at branches, where staff will guide them through the wire transfer process.

CIBC Caribbean said it appreciates the continued trust and cooperation of its customers as it moves to integrate more modern, secure, and efficient banking services.

Clients seeking additional information are advised to contact their nearest CIBC Caribbean branch or visit the bank’s website.