A cashless society in Seychelles: A viable prospect? |04 July 2025

A cashless society in Seychelles: A viable prospect?

By Sunny Esparon

This year, on May 1, all commercial banks stopped accepting Personal (individual) Cheques drawn on local commercial banks and Seychelles Credit Union, for clearing. Furthermore, from January 1, 2026, all commercial banks and the Seychelles Credit Union (SCU) will discontinue issuing Business (non-individual) Cheque Books to all their customers.

In layman terms, this means that personal cheques from people to people is no longer accepted but if a place of work or a business was to write a cheque, it can still be cashed in, therefore having a one year time frame since the announcement was made by the Central Bank of Seychelles which was in line with the approved decision by the Cabinet of Ministers on September 11, 2024 for the sunsetting of cheques as part of the National Payment System (NPS) Modernisation Plan and the Government’s digital economy agenda. 

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