Malawi Phases Out Cheques to Drive Digital Payments
The Reserve Bank of Malawi is phasing out cheque payments by March 2027 to accelerate the country's transition to a digital payment ecosystem.
The Reserve Bank of Malawi and the Bankers Association of Malawi are phasing out cheques as a payment instrument following the publication of the Bills of Exchange (Amendment) Act, 2026. Under the new legislation, banks will no longer issue new cheque books to customers.
While customers may use existing cheques during a transition period, the window for processing is limited. Any cheques presented for clearing by September 29, 2026, will be processed only until March 11, 2027, which marks the date banks will cease all cheque processing entirely.
Authorities are urging the public to adopt electronic payment methods to facilitate the shift toward a digital ecosystem. Recommended alternatives include mobile money, payment cards, internet banking, and electronic funds transfers.
