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CNMI Treasury rejecting BoS checks
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Posted on May 02 2002
As depositors of the Bank of Saipan panicked to withdraw their deposits from the bank, the CNMI Treasury has issued a public notice advising the public that it is no longer accepting BoS checks, while some depositors continue using their drafts to tender payment to the government.
Twenty-seven-year-old Jessica Castro, who was stationed at the CNMI Treasury office at the Department of Labor and Immigration, said there were some who wanted to tender BoS checks as payment, even when the office has started rejecting the use of these drafts since Tuesday.
“There were some who actually asked,” she said. “I deny it.”
A public notice was posted nearby, which reads: “Effective immediately, [the] CNMI Treasury will not be accepting checks drawn out [from] Bank of Saipan.”
As this reporter was interviewing Castro, another client, Juliet Panaligan, asked if she could tender a BoS check.
“I also tried using this check at the Bank of Guam. They rejected it,” she said. Panaligan said she has yet to withdraw her deposits from BoS.
“My boss was even more mad because he has a bigger deposit,” she narrated. “He wanted to transfer his deposits to another bank, but she became sick. And then this problem happened this Monday.”
