Sat | Apr 29, 2017

One note, $5,000 problems

Published:Saturday | September 19, 2015 | 9:26 AM
A specimen of a $5,000 note.

Sharmica Holness

Mandeville, Manchester

I write on behalf of persons like me who are frustrated with the problems associated with being in possession of a Jamaican $5,000 note. These notes have gained popularity, especially since banks have started placing them inside ATMs. Apparently, persons are refusing these notes when they transact business inside the banks; therefore, the way to rid of them is to pass them on to us through ATMs.

With the $5,000 note comes a plethora of problems ranging from difficulty getting them changed to business places rejecting them as counterfeit. You can't give a child a $5,000 bill to take to school, nor can you give this note to a taxi driver in return for $4,900 change. Even domestic workers are refusing them, noting, "Mi cyah carry dis guh no weh cau a hell fi change it."

What was the rationale behind the creation of this note? In my opinion, it serves no purpose as the cons outweigh the pros. Imagine going to an ATM to withdraw $15,000 and receiving three of these $5,000 notes. Losing $500 nowadays is painful, so imagine the sorrow of losing 10 times that amount.

I have been in possession of a $5,000 note for the past three days and efforts to change it have proven futile. Citizens are annoyed with it and would like for the Bank of Jamaica to desist from having these notes printed.