WASA, PTSC to accept cotton banknotes until December 31

State agencies WASA and PTSC, among others, will accept cotton banknotes until the end of December.

The announcement came after Finance Minister Colm Imbert asked the line ministers for the agencies to rescind the decision to stop accepting cotton notes.

In a tweet on Friday, Imbert said, “I have noted complaints that state agencies like WASA, PTSC and NP have taken decisions to stop accepting old small denomination banknotes before the official cut-off date of December 31. In consultation with the line ministers, I have requested that these decisions be rescinded.”

A few hours earlier, the PTSC said it would continue accepting the notes until December 31, after previously saying it would only take them until December 13.

WASA also said it would accept the notes in a release a few hours later, having previously announced it would stop accepting them on Friday.

Line Minister Stuart Young, in response to a question from Newsday, said, “Minister Imbert as corporation sole spoke to NP and made the said request.”

NP had announced it would stop taking cotton notes on Friday.

Other associations and groups refusing cotton notes are Scotiabank from December 19, the Supermarkets Association by December 15, and the Route Two Maxi-Taxi Association from Friday.

The Central Bank said from January 1, the old-style banknotes in the denominations of $1, $5, $10, $20 and $50 bearing series dates before 2020 will no longer be legal tender for cash payment.

Since earlier this year, polymer notes of all denominations have been in circulation, alongside the cotton notes. The bank said, "This will continue for the rest of this year."

The bank also said it will exchange the notes indefinitely after January 1.