BNB not to accept USD cheques

Bhutan National Bank said, it will not accept any USD cheques over the counter for onward clearing with their correspondent banks effective September 5. This applies to only to USD cheques deposit.

This is as per the letter BNB received from Standard Chartered Bank where they have stated that they will cease providing USD check deposit and travellers cheque deposit service to foreign correspondent banks effective from September 15, 2013.

BNB said, they have written and requested other banks to provide these services but they have also refused to honour the cheques.

BNB cited the lack of proper filter while payments are made through these instruments as reasons to stop accepting USD cheques.

BNB has asked its customers to inform their colleagues, friends, offices and families to wire transfer the amount to your account instead of issuing cheques.