Banks in Gibraltar will no longer accept cheques as a form of payment for all transactions after 31
December 2023.

This decision was taken following a consultation launched in 2021 with the Financial Services
Commission and the Government of Gibraltar in the person of the Minister for Finance in their
capacity as representatives of the financial and banking industry.

The stakeholder consultation comes at a time when an increasing number of individuals, businesses
and companies are adopting electronic means of payment or cards as they perceive them to
guarantee a higher level of security.

This observation and the growing use of other forms of payment have their origins in the pandemic
period, during which users had to adapt to these new electronic methods.

Local banks will support the most vulnerable people during the transition period.