diff --git a/.github/workflows/beekeeper.yml b/.github/workflows/beekeeper.yml
index 2c5541599d6..3b5a5d592a6 100644
--- a/.github/workflows/beekeeper.yml
+++ b/.github/workflows/beekeeper.yml
@@ -11,13 +11,13 @@ env:
   K3S_VERSION: "v1.22.17+k3s1"
   REPLICA: 3
   RUN_TYPE: "PR RUN"
-  SETUP_CONTRACT_IMAGE_TAG: "2.0.1"
+  SETUP_CONTRACT_IMAGE_TAG: "2.0.3"
   BEELOCAL_BRANCH: "main"
   BEEKEEPER_BRANCH: "master"
   BEEKEEPER_METRICS_ENABLED: false
   REACHABILITY_OVERRIDE_PUBLIC: true
   BATCHFACTOR_OVERRIDE_PUBLIC: 2
-  TIMEOUT: 30m
+  TIMEOUT: 2m
   BUCKET_NAME: swarm-beekeeper-artifacts
   AWS_ACCESS_KEY_ID: ${{ secrets.DO_AWS_ACCESS_KEY_ID }}
   AWS_SECRET_ACCESS_KEY: ${{ secrets.DO_AWS_SECRET_ACCESS_KEY }}
diff --git a/pkg/settlement/swap/chequebook/factory.go b/pkg/settlement/swap/chequebook/factory.go
index e1cb19e8ea6..23bffb41cfa 100644
--- a/pkg/settlement/swap/chequebook/factory.go
+++ b/pkg/settlement/swap/chequebook/factory.go
@@ -12,6 +12,7 @@ import (
 
 	"github.com/ethereum/go-ethereum/accounts/abi"
 	"github.com/ethereum/go-ethereum/common"
+	"github.com/ethersphere/bee/pkg/log"
 	"github.com/ethersphere/bee/pkg/sctx"
 	"github.com/ethersphere/bee/pkg/transaction"
 	"github.com/ethersphere/bee/pkg/util/abiutil"
@@ -54,12 +55,11 @@ type simpleSwapDeployedEvent struct {
 }
 
 // the bytecode of factories which can be used for deployment
-var currentDeployVersion []byte = common.FromHex(sw3abi.SimpleSwapFactoryDeployedBinv0_5_4)
+var currentDeployVersion = common.FromHex(sw3abi.SimpleSwapFactoryDeployedBinv0_5_4)
 
 // the bytecode of factories from which we accept chequebooks
 var supportedVersions = [][]byte{
 	currentDeployVersion,
-	common.FromHex(sw3abi.SimpleSwapFactoryDeployedBinv0_3_1),
 }
 
 // NewFactory creates a new factory service for the provided factory contract.
@@ -114,16 +114,19 @@ func (c *factory) WaitDeployed(ctx context.Context, txHash common.Hash) (common.
 
 // VerifyBytecode checks that the factory is valid.
 func (c *factory) VerifyBytecode(ctx context.Context) (err error) {
+	logger := log.NewLogger("node").WithName("chequebook-factory").Register()
 	code, err := c.backend.CodeAt(ctx, c.address, nil)
 	if err != nil {
 		return err
 	}
 
+	logger.Info("factory code", "code_len", len(code))
 	if !bytes.Equal(code, currentDeployVersion) {
 		return ErrInvalidFactory
 	}
 
 LOOP:
+	logger.Info("checking legacy factory code", "legacy_addresses", c.legacyAddresses)
 	for _, factoryAddress := range c.legacyAddresses {
 		code, err := c.backend.CodeAt(ctx, factoryAddress, nil)
 		if err != nil {