First Citizens: Dec 31 last day for old $100 notes

First Citizens will not accept old $100 notes after December 31.

In a statement Friday the bank was clear that neither retail nor individual customers will be able to exchange the cotton-based notes on or from January 2. Instead, the bank directed people to go to the Central Bank.

On Christmas Eve, the Central Bank in a public notice said it would make allowances to people or organisations who were unable to exchange their notes by the New Year’s Eve deadline, so long as they had a good reason.

Some of those reasons include illness or incapacitation, or people who may be out of the country. These people have until March to exchange their bills. Businesses still have to adhere to the original timeline but the bank will accommodate transactions on January 2 and 3.

First Citizens will accept cotton $100 noted from individual customers via the regular channels, that is, over the counter at branches — up to 2.30 pm on December 31 —or at ATMs (up to midnight on December 31, subject to the regulatory know your customer, anti-money laundering and counter terrorism financing and source of funds declaration requirements.

In a public notice also on Friday, the Central Bank reminded people who still have bills to exchange that the bank will be opened from 9 am to 3 pm every day until December 31 — including Saturday and Sunday — to facilitate exchanges.