Banks and SCU to close at 12.30pm |06 January 2021

• Customers urged to use digital platforms amid Covid-19 developments

The Central Bank of Seychelles (CBS), following discussions with the Seychelles Bankers Association (SBA), has given approval for a change in the opening hours of the banks and Seychelles Credit Union (SCU).

The main branch of all banks and SCU will remain open from 8.30am to 12.30pm on weekdays.

This decision is applicable as from today, January 06, 2021 until further notice and

follows new measures announced by the Ministry of Health in view of the worsening Covid-19 situation, whereby there is an increase in the number of cases locally.

Dependent on their individual circumstances, the banks and SCU may decide to also keep their other branches open during the approved opening hours and will be advising their customers accordingly on the changes to the opening hours of their respective branches. Nevertheless, the banks and SCU will remain closed on Saturdays.

In view that the banks and SCU will close at 12.30pm, the general public is advised of the following customer cut-off times :

• acceptance of cheques from customers for same-day clearing will be no later than 11.30am for standard cheques.

• acceptance of customer payments for same-day processing through the Seychelles Electronic Funds Transfer (SEFT) system will be no later than 11.30am

• acceptance of customer payments for same-day processing through the CBS Immediate Transfer Service (SWIFT payments) will be no later than 11.30am.

Cheques deposited and electronic payment transactions processed after these cut-off times will be sent for clearing and/or settled on the next working day.

CBS has advised all banks to ensure that their ATMs are replenished appropriately to guarantee customer access to funds at all times, and will be taking action against banks that fail to adhere to this guidance.

CBS has also called on the banking community to make digital and online banking services available and is urging bank customers to make use of such services to limit physical contact.

In this light, the public is being reminded that there is no charge applicable to the use of the SEFT customer platform as well as SEFT payments made through the banks’ mobile banking applications, internet banking, and interbank platforms. Customers, particularly those whose banks do not have internet banking or mobile banking applications, can approach their banks to register to use the SEFT customer platform.

CBS is also calling on merchants, particularly the retailers making use of the Point of Sale (POS) terminals, to ensure that customers are allowed to make payments for any amount of purchase. Merchants are reminded that imposing minimum or maximum purchase amounts is a violation of VISA’s Card Acceptance Rules, which they sign with their respective banks to provide POS services.

Aside from the above-mentioned required measures, all banking institutions are also being encouraged to fast-track account opening processes, in accordance with relevant laws, and to have call centres or hotline services to ensure customer support for any queries or complaints that may arise.

CBS will be closely monitoring the situation and will ensure that as part of their business continuity plans, all banking institutions take necessary steps to adapt their operations as and when the situation evolves, which will be communicated to the public.

CBS is also encouraging people to continue to adhere to the health guidelines and to adopt good hygiene practices such as regular washing of hands and use of sanitizers after using cash or digital payment facilities, as well as observing physical distancing measures while accessing the banks or ATMs.

Press release from the CBS