New Trinidad & Tobago $ money polymer notes

[pugboy]

allyuh trying to shutdown the business
they go have to stick with $20bills in them messages

Hope the roulette could read this new bill

[maj. tom]

so is only $20 in the ATM from now till the next 5 years then? Because the polymer $50 out since 2015 and still eh programmed.

[pete]

$20 polymer bill coming in March so would be a good idea for them to reprogram the machines for polymer now..

[Les Bain]

Aren't 50s polymer? RBC machines only giving out 100s and 50s for years now...

[Duane 3NE 2NR]

have to admit it's a nice looking bill

[sMASH]

The one with Burke look fresh.

[rspann]

I wonder what day Duane clearing out the mattress?

[redmanjp]

so is only $20 in the ATM from now till the next 5 years then? Because the polymer $50 out since 2015 and still eh programmed.

i doh think they wanted to give out $50 notes through the ATM anyway- it was always $20 and $100 at least for RBL

sigh so from Dec. 31st (or a fews days before as they won't want to give out the old notes days b4 it is demonitized) until they program the machine is only $20s i getting in RBL ATMs

[shake d livin wake d dead]

This has to be the dumbest process out....lines and lines of people all over and people just wandering around with large sums of cash

[ADONI]

This has to be the dumbest process out....lines and lines of people all over and people just wandering around with large sums of cash

Maybe this is the PNM way, of a Christmas gift to their supports!

[2ndchance]

https://www.guardian.co.tt/news/batt-explains-how-you-can-get-your-new-100-bills-6.2.1004498.0b57832cda

BATT explains how you can get your new $100 bills

The Bankers As­so­ci­a­tion of Trinidad & To­ba­go (BATT) says that its mem­ber banks have not­ed the plan of the Cen­tral Bank and the Gov­ern­ment to de­mon­e­tize the ex­ist­ing TT$100 note and tran­si­tion to a new poly­mer note and is mak­ing sug­ges­tions for the smooth flow of the process..

BATT is ad­vis­ing mem­bers of the pub­lic are o the fol­low­ing:

"Cus­tomers are en­cour­aged to vis­it their re­spec­tive banks to fa­cil­i­tate the ex­change and are en­cour­aged to de­posit the cash in­to their ac­count.

For ex­ist­ing bank cus­tomers cash with­drawals or ex­change of no more than TT$50,000.00 would be fa­cil­i­tat­ed in the first in­stance. With­drawals in ex­cess of TTD50,000.00 will on­ly be fa­cil­i­tat­ed in line with the cus­tomer’s bank­ing pat­tern. Ex­ist­ing cus­tomers re­quir­ing amounts larg­er than TT$50,000.00 are re­quest­ed to ad­vise their bank of their needs and the bank will make best ef­forts to pro­vide same with­in 48 hours of no­ti­fi­ca­tion. Such de­posits and/or cash ex­change will be sub­ject to the stan­dard due dili­gence re­quire­ments of each bank.

For in­di­vid­u­als with­out a Bank ac­count and sub­ject to a lim­it of TT$10,000.00, First Cit­i­zens Bank Lim­it­ed, Re­pub­lic Bank Lim­it­ed, Roy­al Bank and Sco­tia­bank will fa­cil­i­tate one to one ex­change of cash over the counter. Said cus­tomers will be re­quired to: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion.

All Banks are work­ing dili­gent­ly to en­sure that ATMs are able to ac­cept the new poly­mer TT$100 note with­in the short­est pos­si­ble time­frame.

All Banks will con­tin­ue to be guid­ed by their ex­ist­ing Know Your Cus­tomer (KYC) frame­work and An­ti-Mon­ey Laun­der­ing and Counter Fi­nanc­ing of Ter­ror­ism (AML/CFT) pro­grammes dur­ing this process.

BATT thanks the pub­lic in ad­vance for its co­op­er­a­tion and un­der­stand­ing dur­ing this tran­si­tion pe­ri­od."

[pugboy]

so them churches getting a free pass to convert their money?

[paid_influencer]

For in­di­vid­u­als with­out a Bank ac­count and sub­ject to a lim­it of TT$10,000.00, First Cit­i­zens Bank Lim­it­ed, Re­pub­lic Bank Lim­it­ed, Roy­al Bank and Sco­tia­bank will fa­cil­i­tate one to one ex­change of cash over the counter. Said cus­tomers will be re­quired to: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion.

I doh normally cuss, but them MC.

plenty people do not have proof of address and cannot get a bank account because of that. Now they demonetizing the cash and refusing to exchange the money without proof of address.

firetruck this administration. MC

[supercharged turbo]

Muchhhh worse

Guess the underlying situation was more serious that we know.
(influx of fake hunneds)

[MaxPower]

Is how they totally ignore the Mosslim community and their bold faced request.

Hahahahah

[hydroep]

Ok well according to that BATT release small fry like me eh hadda worry. Just deposit cash on hand into yuh account and withdraw the new notes.

Yuh eh hadda worry about lining up either as the ATMs can be used for cash deposits though there's a $ 2000 - $ 2500 limit per envelope depending on the bank...

[*KRONIK*]

This is my concern also

Guess the underlying situation was more serious that we know.
(influx of fake hunneds)

[redmanjp]

For in­di­vid­u­als with­out a Bank ac­count and sub­ject to a lim­it of TT$10,000.00, First Cit­i­zens Bank Lim­it­ed, Re­pub­lic Bank Lim­it­ed, Roy­al Bank and Sco­tia­bank will fa­cil­i­tate one to one ex­change of cash over the counter. Said cus­tomers will be re­quired to: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion.

I doh normally cuss, but them MC.

plenty people do not have proof of address and cannot get a bank account because of that. Now they demonetizing the cash and refusing to exchange the money without proof of address.

firetruck this administration. MC

u mean no form of ID (no electoral ID, no DP and no Passport) ?

[teems1]

Then change out 9900

Go to another bank, rinse repeat.

It's not rocket science.

For in­di­vid­u­als with­out a Bank ac­count and sub­ject to a lim­it of TT$10,000.00, First Cit­i­zens Bank Lim­it­ed, Re­pub­lic Bank Lim­it­ed, Roy­al Bank and Sco­tia­bank will fa­cil­i­tate one to one ex­change of cash over the counter. Said cus­tomers will be re­quired to: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion.

I doh normally cuss, but them MC.

plenty people do not have proof of address and cannot get a bank account because of that. Now they demonetizing the cash and refusing to exchange the money without proof of address.

firetruck this administration. MC

[paid_influencer]

For in­di­vid­u­als with­out a Bank ac­count and sub­ject to a lim­it of TT$10,000.00, First Cit­i­zens Bank Lim­it­ed, Re­pub­lic Bank Lim­it­ed, Roy­al Bank and Sco­tia­bank will fa­cil­i­tate one to one ex­change of cash over the counter. Said cus­tomers will be re­quired to: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion.

I doh normally cuss, but them MC.

plenty people do not have proof of address and cannot get a bank account because of that. Now they demonetizing the cash and refusing to exchange the money without proof of address.

firetruck this administration. MC

u mean no form of ID (no electoral ID, no DP and no Passport) ?

proof of address being a recent utility bill in your name (or presented with a letter of authorization from property owner). plenty people do not have that and are blocked from the banking system.

that little requirement is going to firetruck some very vulnerable people.

[wickedtuna]

http://www.looptt.com/content/scotiaban ... on-bankers

[paid_influencer]

Then change out 9900

Go to another bank, rinse repeat.

It's not rocket science.

As I interpret the release, they will not change any amount at all without proof of address (recent utility bill) for non-customers.

the $10,000 figure is a hard limit. Under the limit, you still need: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion

[pugboy]

Yup, it seems to be a big net stuey trying to catch folks with.
Also banks are likely being told to look for customer patterns of behavior
Like multiple transactions of $9900

That is how Uncle Sam had red flagged Jack Warner sons

Then change out 9900

Go to another bank, rinse repeat.

It's not rocket science.

As I interpret the release, they will not change any amount at all without proof of address (recent utility bill) for non-customers.

the $10,000 figure is a hard limit. Under the limit, you still need: (a) pro­vide one form of na­tion­al iden­ti­fi­ca­tion which shows na­tion­al­i­ty; (b) proof of ad­dress; and (c) sign a Source of Funds de­c­la­ra­tion

[vaiostation]

Government should ah just wait till next year an print out de new $1billion note just like Zimbabwe, since we seem to be going down that road.

[EFFECTIC DESIGNS]

LOL this is a perfect opportunity for bandit to rob people now.... this is real madness yes.....

How long we have until we can no longer pay in these $100 notes?

The government really serious about this sh!t?

[sMASH]

^^ dont need to pay 20 000 dollars for ah egg, if u minding fowl in the bush... *thinking man meme*

[vaiostation]

[De Dragon]

Ok well according to that BATT release small fry like me eh hadda worry. Just deposit cash on hand into yuh account and withdraw the new notes.

Yuh eh hadda worry about lining up either as the ATMs can be used for cash deposits though there's a $ 2000 - $ 2500 limit per envelope depending on the bank...:|

Scotia has done away with the envelope requirement, although I'm not sure what the deposit limit is per transaction, maybe the one time $50K?

[wickedtuna]

Republic

[ProtonPowder]

Yup, it seems to be a big net stuey trying to catch folks with.
Also banks are likely being told to look for customer patterns of behavior
Like multiple transactions of $9900

That is how Uncle Sam had red flagged Jack Warner sons

This is called structuring and is the easiest thing for a bank to automatically flag.