The Government of the Virgin Islands is seeking to do away with the issuing of cheques by the end of this year and will be making payments to vendors directly to their bank accounts.
This was revealed at the Public Service Transformation Programme Press conference at BVI Finance Conference Room in Cutlass Tower on May 28, 2023.
According to Accountant General Arnold J. Ainsley, the Treasury Department is aiming to end the system of cheque payments to vendors by the end of this year, as it has already commenced online payments.
Mr Ainsley said the department is currently working with the banks. “From the treasury standpoint we are working with the bank to have that side ready, we are almost at that point…On the technical side on having everything ready to go, we are actually right there.”
The Accountant General added if will actually take about five years to have all of the government’s systems on board. “The plan is to start rolling out later this year.”
According to Accountant General Arnold J.
Ainsley, the Treasury Department is aiming to end the system of cheque
payments to vendors by the end of this year, as it has already commenced
Reducing the use of cheques
Among those that have started to take effect and to be completed by the end of this year is the online payment to vendors.
“We have also begun the process of paying online where the government can now pay everybody online.
“So most of our vendors in the country are now being paid directly into their bank accounts, so we have started reducing the use of cheques and hopefully by the end of the year we will do away with that thing.”
On the other hand, Mr Ainsley said persons doing business with the government will also be able to pay into the government system via credit cards.
“Nobody has asked for Discover Cards, it’s an option if anybody asks. So, we are definitely going to do the major ones and so we will be able to collect from everybody from anywhere in the world.”