BOSL continues to honour cheques

Press Release:–  Bank of Saint Lucia is lending its voice to the ongoing dialogue regarding honouring cheques made payable to non-account holders at local commercial banks. The Bank wishes to state its position on the matter.

Managing Director, Bernard La Corbinière stated, “Bank of Saint Lucia takes the matter of honouring cheques very seriously and continues to cash cheques for non-account holders at all five branches, island wide.”

The Bank invests significantly in new convenience banking services as well as traditional banking services to make it easier for our customers.

With the introduction of a number of new payment methods including Electronic Funds Transfer, the Bank recognizes that cheques still form an essential part of day to day business for many customers.

The Bank remains committed in this regard to honour all genuine BOSL cheque transactions. Genuine in the sense that the cheque is completed correctly including date, payee and sum; sufficient available funds on the account from which the funds are being drawn; and appropriate authorized signatures.

Customers are also reminded that valid picture identification is a key requirement for the cashing of cheques.

Banks in the region continue to move towards paperless transactions.

However, cheques will continue to be honoured until such time that there is a seamless transition from traditional methods to new technologies.