Reminder: Bank of Jamaica Demonetizes Old Cotton Banknotes

Bank of Jamaica wishes to remind the public that, effective 1 July 2025, the old cotton banknotes comprised of the $5000, $1000, $500, $100 and $50 denominations will no longer be legal tender.

This means that they will no longer be able to be used for transactions for goods and services.

Notwithstanding this, Bank of Jamaica will continue to redeem the old cotton banknotes for face value indefinitely.

Following the demonetization of the old cotton banknotes, cash transactions should be conducted using the new polymer banknotes, comprised of the $5000, $2000, $1000, $500 $100, and $50 denominations, that have been in circulation since June 2023, and the existing coin denominations of $20, $10, $5 and $1.