Charles Castel, Governor of the Bank of the Republic of Haiti (BRH) announced in December 2012, the introduction in January 2013 of the electronic clearing of checks which will gradually replace the physical clearing, https://www.haitilibre.com/en/news-7494-haiti-economy-reduced-time-to-check-clearing.html which will allow to reduce the time currently 5 to 10 days, depending on where the bank is located, to just 2 days on the entire country. Finally, the electronic check clearing, is finally in operation in Haiti since July 1, 2013, as specified the BRH in a statement issued Thursday.

"As part of the modernization of the payment system, the Bank of the Republic of Haiti (BRH) has developed an electronic system that allows from July 1, 2013 the compensation in two days across the country, whenever the checks meet the new standards of standardization (standardized checks).

Checks that do not meet the new standards of standardization (non-standardized checks) will continue to be compensated in accordance with previous delay, ie five days in Port-au-Prince and ten days for the provinces. However, the latter will not be allowed for clearing from 1 September 2013. As of this date, these checks should have to be cleared at the drawee bank.

Therefore, the BRH strongly encourages the public to demand as soon as possible the new checkbooks standardized to their bank branch so they can fully enjoy all the benefits of the new compensation system.

BRH is committed to continue to improve the effectiveness and greater efficiency of the payment system."

SL/ HaitiLibre