Kingston, Jamaica, December 11, 2025 – Jamaica’s financial sector is on the cusp of a significant transformation, with a major system upgrade set to roll out this December.

Under the guidance of the Bank of Jamaica, the island’s banks are adopting the global ISO 20022 standard for Real Time Gross Settlement (RTGS) and wire transfers.

It’s a move designed to modernize the payment landscape, promising clearer information, stronger security, and better long-term reliability for transactions.

In essence, Jamaica’s banking system is shedding its old skin for a smarter, more efficient way of processing money. This global format is touted to improve payment processing among banks, a much-needed evolution in an increasingly digital world. But as with any substantial technology shift, especially one impacting an entire industry, a smooth transition isn’t always guaranteed.

Indeed, both National Commercial Bank Jamaica Limited (NCB) and Scotiabank Jamaica have communicated directly with their customers, acknowledging the potential for “brief delays during the initial adjustment period.” Scotiabank, in particular, announced a scheduled system update to its RTGS platform, which will render the transfer option temporarily unavailable from Thursday, December 11, 2025, starting at 4:00 p.m. to Friday, December 12, 2025, at 8 a.m.

They even offered an apology for some clients who have already experienced delays, hinting that the groundwork for this transition has not been entirely without its bumps.

For local transfers during these periods, the widely available Automated Clearing House (ACH) option is being recommended as an alternative.

Banks are stepping up to support customers through this change. NCB, for instance, is offering a waiver on RTGS fees until December 31, 2025—a timely benefit coinciding with the standard’s adoption. Beyond this, NCB has also outlined broader support, including payment flexibility on loans and credit cards, lower fees on qualifying facilities, and other tailored solutions, particularly relevant for those navigating recent economic “challenges.” This dual approach suggests banks are preparing not just for technical shifts, but for continued customer support in uncertain times.

While the promise of a more resilient and secure payment experience is clear, customers should brace for potential minor disruptions. This transition is not merely about banks upgrading their systems; it’s about re-engineering the very pathways money travels. Both institutions emphasize that their teams are diligently monitoring transactions and are ready to resolve issues quickly.

So, as Jamaica moves towards a more globally aligned and technologically advanced financial infrastructure, users are advised to stay informed, plan transactions with potential delays in mind, and proactively reach out to their bank if questions or issues arise. The future of payments looks brighter, but the journey to get there might have a few detours.