PHILIPSBURG–The Receiver’s Office has announced that it will delay its policy to no longer accept cheques by one month until January 2, 2010.
The measure was supposed to have gone into effect on December 2.
“In a previous notice, the Receiver’s Office announced a change in policy of no longer accepting business and personal cheques effective December 2, 2019. However due to some concerns from the public, it was decided to postpone the introduction of this change in policy to January 2, 2020,” the Receiver’s Office said in a public notice to the community. “This will give the public some additional time to adjust their administrative procedures accordingly.
After the Receiver had announced that it would no longer accept cheques, the business community expressed concern about the decision by the management of the Receiver to eliminate the use of cheques as a form of payment and had called for the decision to be immediately revisited.
“Like it or not, St. Maarten’s predominant tool for financial exchange is still a paper check. To restrict its use is hindering the economy and increasing the cost of doing business,” the St. Maarten Hospitality and Trade Association (SHTA), Indian Merchants Association (IMA) and the St. Maarten Timeshare Association (SMTA) had stated in a joint press release issued after the original announcement.
The groups said all other payment alternatives being offered by the Receiver, will in fact force businesses to settle their monthly tax debt earlier than it is due by law, because payments will have to be negotiated in advance for a payment receipt to be submitted with the declaration. IMA, SHTA and SMTA said, while they recognise the issues caused by bad checks and non-sufficient funds payments, the Receiver also has not been timely in processing its deposits, as they have noticed often payments made to the Receiver are not cleared for a number of days. “We request this be revisited immediately,” the groups had demanded.