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The Belize Bank Corporation Limited Will be No More

The Belize Bank Corporation Limited (BBCL) formerly known as Scotiabank will cease to exist come Tuesday, March 1. A notification from the Central Bank of Belize was issued this week stating that the BBCL would no longer operate as a participant bank in the national payment system. As a result, the Automated Payment Security Settlement System (APSSS) will no longer accept or process cheques from BBCL made out after March 1. The Belize Bank Limited, however, will continue honoring cheques from BBCL for a period of six months or until August 29. In its release, the Central Bank further stated that they have gotten assurances from Belize Bank Limited that they have been keeping their consumers abreast of the changes and transitions and that they have ensured that the inconveniences are kept to a minimum. The Belize Bank Limited has begun the data transition process and will continue through the weekend, up until Monday, February 28. During the transition process, Belize Bank and BBCL customers will not be able to access their online banking or their accounts at the ATMs. For those who were banking with BBCL, they are currently being advised to go into the bank offices to obtain their new Belize Bank Debit Card as their funds are in the process of being moved over to the Belize Bank Limited. It is also to be noted that the account numbers will also be changed.