Central Bank acts to ensure salary payments, safeguard next payrolls

“We are also treating next week’s payrolls, including government and the private sector payrolls, as a priority and are working with the financial institutions and employers to ensure those payments are checked and ready before payday.”

The Central Bank said it has put immediate measures and twice-daily oversight in place and will remain engaged until salaries are flowing normally.

“We have required participating banks and credit unions to work directly with employers to check and correct payroll information before payments are sent and to credit affected employees through controlled arrangements where salary instructions and funds can be verified so that workers are paid while the institutions settle matters between themselves afterwards. Banks have also been instructed not to charge employees any fees connected with these corrections.”

The CBB also made clear, “No employee needs to download or use the BiMPay e-wallet to receive a salary. If you are paid by direct deposit to a bank or credit union account, that arrangement continues exactly as before, and you need do nothing.”

The Central Bank said it regrets the inconvenience and distress caused and is committed to ensuring that every affected employee is paid. (PR)