The Bank of Jamaica (BOJ) issued an operational update on efforts, alongside the Jamaica Bankers Association, to restore banking services and access to cash as quickly as possible, with a focus on parishes heavily impacted by Hurricane Melissa. While some banking operations have resumed, the central bank reported significant constraints in reactivating branch and automated teller machine (ATM) networks across the country. Physical damage, staff dislocation, limited roadway access, and outages of electricity and telecommunications services are hampering restoration, alongside heightened security challenges. Critical payment and settlement systems remain functional, including the BOJ-operated Real Time Gross Settlement System (RTGS), and the BOJ has suspended fees charged to banks for RTGS transfer and settlement services until further notice, expecting banks to pass the benefit of the waiver on to customers. The BOJ is also exploring with deposit-taking institutions additional temporary relief initiatives for customers, particularly those living or operating businesses in hurricane-affected areas. BOJ and banks will continue to provide public updates as restoration efforts progress.
Bank of Jamaica 2025-11-03
Bank of Jamaica suspends RTGS fees and coordinates with banks to restore cash access after Hurricane Melissa
The Bank of Jamaica and the Jamaica Bankers Association are restoring banking services and cash access in areas hit by Hurricane Melissa, despite physical damage and service outages. Some operations have resumed, but branch and ATM networks face significant constraints. The BOJ has suspended fees for Real Time Gross Settlement System services and is considering further relief measures for affected customers.