The Bank of Jamaica has advised that old cotton banknotes will no longer be legal tender effective July 1st.

This means that the banknotes, including the $5000, $1000, $500, $100 and $50 denominations will no longer be used for goods and services transactions.

A release from the country’s central bank said it will continue to redeem the old cotton banknotes for face value indefinitely.

It added that following the demonetization of the old cotton banknotes, cash transactions should be conducted using the new polymer banknotes which have been in circulation since June 2023.