The government of Seychelles has reversed a previous decision to abolish the use of personal and business cheques, following consultations with the Retailers Association.Finance, Economic Planning, Trade and Investment Minister Pierre Laporte said retailers were not consulted before the earlier decision and later raised concerns about setbacks since personal cheques were withdrawn.
Under the previous plan, introduced through the Central Bank of Seychelles, personal cheques were to be phased out from May 2025, with business cheques to follow in 2027.
Mr Laporte said Seychelles is currently not fully equipped to move entirely to digital payments. He added that cases of bounced cheques, whether involving individuals or businesses, would continue to be treated as offences and handled by law enforcement.
The Second Deputy Governor of the Central Bank, Mike Tirant, said banks have already been informed of the reversal and cannot refuse cheques as a form of payment. He added that Print House (Pty), the only authorised printer of standardised cheques in Seychelles, has also been notified.
Mr Tirant said business cheques will continue to be used, while the return of personal cheques is expected around the next quarter of next year. He added that current personal cheque books are no longer valid and new ones will need to be issued.
He also said that businesses remain free to accept or decline cheque payments. At the same time, the Central Bank will continue efforts to encourage the public to use online payment methods.The government has not set any date for a future phase-out of cheques.