News Details

Cheques and Bank Drafts – Update to CBM Directive 19

The Central Bank of Malta has published an update to CBM Directive 19 on the use of cheques and bank drafts.

The following are the main amendments to Directive 19 which will come into effect on the 1st January 2027: -

1. Cheques and bank drafts may only be issued for values of €50.00 and above. Any cheque or bank draft issued prior to the 1st January 2027 with a value of less than €50.00 will remain valid for up to 6 months from date of issue.
2. Cheques will have a maximum validity of 3 months while bank drafts will have a maximum validity of 6 months unless a shorter validity period is stated on the cheque or bank draft. Cheques issued prior to the 1st January 2027 will remain valid for up to 6 months from date of issue.
3. All cheques and bank drafts may no longer be cashed but must be deposited into an account belonging to the named payee.                                            

Further information in relation to Directive 19 may be found here (News - Central Bank of Malta)