The Bank of Guyana (BoG) has issued an advisory on the use of digital pre-paid VISA cards, which the BoG says in an advertisement appearing in the Stabroek News edition of February 20, 2025, are being offered by entrepreneurs.
According to the advisory, these cards are not “subject to BoG’s oversight as the VISA debit/credit cards issued/distributed by local commercials banks.”
Further, the BoG advises that customers who use these cards will be doing so at their risks. The Bank further advises that customers (1) Ensure that the operators are legally registered businesses in Guyana, (2) Understand the risk(s) involved and what options are available for recourse if needed, and (3), Be aware of all charges applicable to acquiring and using these offerings.
The BoG, in its advertisement, further clarified that customers should prioritise their financial security by ‘exercising caution’ when conducting financial-related activities. Resellers of the cards are also advised that these cards can be used by money launderers and that “all necessary precautions are taken to protect themselves.”
