The Bank of Papua New Guinea (BPNG) will stop accepting private sector cheques after June 30, 2024, as announced by Governor Elizabeth Genia. She emphasized that there will be no exceptions to this rule. Customers are urged to transition to alternative payment methods such as digital products, vouchers, or Special Withdrawal Forms (SWFs) before the deadline.
The decision to phase out private sector cheques was made by the National Payments Council (NPC), which includes PNG’s licensed financial institutions and is chaired by BPNG. This move aims to streamline and modernize the country’s payment system. Initially, the phase-out was set for December 31, 2023, but an extension was granted to June 30, 2024, following concerns about insufficient awareness.
Since the announcement, BPNG and commercial banks have been conducting awareness campaigns to inform customers about alternative payment options. These efforts have included meetings with key business sector representatives and regular updates in the national press. The NPC has worked collaboratively with industry stakeholders to ensure a smooth transition and adequate public awareness.
After June 30, 2024, only government and State-Owned Enterprise cheques will be accepted. Private sector cheques presented by June 28 will still be processed, but this will mark the final day for their acceptance.
