BOJ says its actively monitoring issues impacting bank transfers

The Bank of Jamaica (BOJ) says it is aware that some banking entities have been experiencing challenges with crediting some of their customers’ accounts.

The BOJ, in a statement on Friday, said that the JamClear®-RTGS platform is working as required.

It is advising persons to report all issues such as delays in transfers immediately to their financial institution(s).

The BOJ said it is actively monitoring the issues and continues to directly engage JamClear®-RTGS participants to ensure the timely resolution of issues arising from their internal system integration, given the implications of delayed payments to customers.

BOJ said it remains fully committed to maintaining the stability, safety, and efficiency of the national payments system and will continue to work closely with all stakeholders to resolve all issues during this post-implementation period.

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The central bank advised that the migration from the Swift Message Type (MT) standard to the new ISO 20022 standard (MX) became effective in JamClear®-RTGS on Monday, 15 December 2025.

It explained that this global standard represents a critical modernization initiative for payment systems in Jamaica and worldwide, as it is a ‘Universal Financial Industry Message Scheme’ geared towards improving payment efficiency and promoting interoperability among financial institutions, financial market infrastructures, and end-users.