Foreign Currency Usage Limits on Credit Cards

[SuperiorMan]

Alt accounts out and about.

[Chimera]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

[The_Honourable]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

How long ago?

Opened a US account 15 years ago and it was easy. They had no issue with my trini address and used my passport as ID.

I think now there is some pressure.

[MaxPower]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

Yeh things change now.

When i went to AT&T for my US post paid cellular, i put a hotel address as the billing address, of course i selected no paper statements and Chase accepted this years ago. But the banks no longer accept this or any other US address that isn’t yours. I checked Bank of America and get blank.

So proof of address like utility bill and lease agreements.

[zoom rader]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

Yeh things change now.

When i went to AT&T for my US post paid cellular, i put a hotel address as the billing address, of course i selected no paper statements and Chase accepted this years ago. But the banks no longer accept this or any other US address that isn’t yours. I checked Bank of America and get blank.

So proof of address like utility bill and lease agreements.

You trinis are scamps

[Chimera]

I've opened us accounts as recent as 3 months ago but giving public advice usually results in a bunch of idiots taking advantage of it and then stricter regulations.

[hover11]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

Yeh things change now.

When i went to AT&T for my US post paid cellular, i put a hotel address as the billing address, of course i selected no paper statements and Chase accepted this years ago. But the banks no longer accept this or any other US address that isn’t yours. I checked Bank of America and get blank.

So proof of address like utility bill and lease agreements.

You trinis are scamps

Trickidadians , always looking for a way to beat the system

[wing]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

Yeh things change now.

When i went to AT&T for my US post paid cellular, i put a hotel address as the billing address, of course i selected no paper statements and Chase accepted this years ago. But the banks no longer accept this or any other US address that isn’t yours. I checked Bank of America and get blank.

So proof of address like utility bill and lease agreements.

You trinis are scamps

Trickidadians , always looking for a way to beat the system

Agreed. Imagine a well paid public servant on social media during working hours with no accountability or consequences for poor work ethic and hiding behind a corrupt union, taxpayers getting shafted. How is this different from Hinds or Rowley?

[hover11]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

Yeh things change now.

When i went to AT&T for my US post paid cellular, i put a hotel address as the billing address, of course i selected no paper statements and Chase accepted this years ago. But the banks no longer accept this or any other US address that isn’t yours. I checked Bank of America and get blank.

So proof of address like utility bill and lease agreements.

You trinis are scamps

Trickidadians , always looking for a way to beat the system

Agreed. Imagine a well paid public servant on social media during working hours with no accountability or consequences for poor work ethic and hiding behind a corrupt union, taxpayers getting shafted. How is this different from Hinds or Rowley?

I don't have a SRC demanding or making recommendations that my salary increase by 49 percent. I don't have a backpay of one million dollars waiting on me. Difference between me and those two failures u called there. Who draining the taxpayers more, answer that question.

[wing]

When I opened my us accounts they didn't really ask for strict proof of address

I had the option to put my trini address or I could use anyone's US address if I had one of their bills

Yeh things change now.

When i went to AT&T for my US post paid cellular, i put a hotel address as the billing address, of course i selected no paper statements and Chase accepted this years ago. But the banks no longer accept this or any other US address that isn’t yours. I checked Bank of America and get blank.

So proof of address like utility bill and lease agreements.

You trinis are scamps

Trickidadians , always looking for a way to beat the system

Agreed. Imagine a well paid public servant on social media during working hours with no accountability or consequences for poor work ethic and hiding behind a corrupt union, taxpayers getting shafted. How is this different from Hinds or Rowley?

I don't have a SRC demanding or making recommendations that my salary increase by 49 percent. I don't have a backpay of one million dollars waiting on me. Difference between me and those two failures u called there. Who draining the taxpayers more, answer that question.

No you and your peers are infinitely more stupid.

[hover11]

Anyway,


Trincity woman held with US$1,000 counterfeit notes

https://newsday.co.tt/2024/11/23/trinci ... jinkJ1kzFw


With a growing black market expect to see more cases like this

[hover11]

According to the FIU’s director, if you buy US currency from a relative visiting T&T, you may be in breach of the law.

https://www.guardian.co.tt/news/buying- ... Aa_1qiNlTw


Yet they will continue voting red

[wing]

According to the FIU’s director, if you buy US currency from a relative visiting T&T, you may be in breach of the law.

https://www.guardian.co.tt/news/buying- ... Aa_1qiNlTw


Yet they will continue voting red

Is it ok to break a law?

[paid_influencer]

According to the FIU’s director, if you buy US currency from a relative visiting T&T, you may be in breach of the law.

https://www.guardian.co.tt/news/buying- ... Aa_1qiNlTw

Yet they will continue voting red

yup. d relative suppose to mosey down to the commercial banks and get 6:1

idk how ppl does think the forex system we have not severely broken

[zoom rader]

According to the FIU’s director, if you buy US currency from a relative visiting T&T, you may be in breach of the law.

https://www.guardian.co.tt/news/buying- ... Aa_1qiNlTw


Yet they will continue voting red

Is it ok to break a law?

Then, family members conduct their forex outside of Trinidad to avoid dumb laws

Simple

[wing]

According to the FIU’s director, if you buy US currency from a relative visiting T&T, you may be in breach of the law.

https://www.guardian.co.tt/news/buying- ... Aa_1qiNlTw


Yet they will continue voting red

Is it ok to break a law?

Then, family members conduct their forex outside of Trinidad to avoid dumb laws

Simple

Almost impossible to enforce.

[hover11]

I view the FIU same as the Police complaints authority, lots of investigation but no teeth. Redflags about thousands of suspicious transactions documented per year but nobody bussing down the doors of these ppl under surveillance. Moneylaunderers getting a free pass everyday but we have an entity like FIU telling the common man , you can't bring over 10k to a financial institution without source of funds. This country is a joke yes

[MaxPower]

All them gyro and chinese ppl advertising with signs how much they buying USD for.

whatsapp statuses “ USD for sale HMU”

What it is going on.

[Dizzy28]

I view the FIU same as the Police complaints authority, lots of investigation but no teeth. Redflags about thousands of suspicious transactions documented per year but nobody bussing down the doors of these ppl under surveillance. Moneylaunderers getting a free pass everyday but we have an entity like FIU telling the common man , you can't bring over 10k to a financial institution without source of funds. This country is a joke yes

You are expecting something from someone that is beyond their powers
There are two types of FIUs - Administrative and Enforcement
Ours is solely Administrative so they have no teeth to go beyond reports.
The power to do something based on FIU reports lies with the TTPS, BIR, Customs and Immigration (for some reason).

[ProtonPowder]

Anyway,


Trincity woman held with US$1,000 counterfeit notes

https://newsday.co.tt/2024/11/23/trinci ... jinkJ1kzFw


With a growing black market expect to see more cases like this

The US Secret Service going to be paying us a visit sooner rather than later to get deeper into this issue

[hover11]

I view the FIU same as the Police complaints authority, lots of investigation but no teeth. Redflags about thousands of suspicious transactions documented per year but nobody bussing down the doors of these ppl under surveillance. Moneylaunderers getting a free pass everyday but we have an entity like FIU telling the common man , you can't bring over 10k to a financial institution without source of funds. This country is a joke yes

You are expecting something from someone that is beyond their powers
There are two types of FIUs - Administrative and Enforcement
Ours is solely Administrative so they have no teeth to go beyond reports.
The power to do something based on FIU reports lies with the TTPS, BIR, Customs and Immigration (for some reason).

Capture.JPG

Therein lies the problems another eat a food institution, they don't have the powers to do such but generating investigations which raises suspicions for an already worn out entity like the TTPS to add to their Plate. No ask yourselves, are we serious about white collar crime in this country? I digress, just another institution to make it look it look like they aren't a drain on the taxpayers, them the PCA, the ombudsman office, consumer affairs. See where I going with this.

[*KRONIK*]

All them gyro and chinese ppl advertising with signs how much they buying USD for.

whatsapp statuses “ USD for sale HMU”

What it is going on.

This is serious ting tho

You literally see these three things daily

[paid_influencer]

there is good potential for arbitrage
buy at 6.85 (at the bank) and sell back at 7.5 or 8
it come like the bank handing you 10% to 15% instant profit just to walk the notes down to the chinese
completely sustainable system imo

[paid_influencer]

Central Bank Proposes Changes To Exchange Control Act To Tackle Unauthorised Forex Transactions
November 25, 2024
TTT News

The Central Bank is seeking to amend the Exchange Control Act to address unauthorised foreign exchange transactions and advertising.



During a sitting of a Joint Select Committee on Finance and Legal Affairs on Friday, the Central Bank noted the culture of informal foreign exchange trading in Trinidad and Tobago that may not align with current legislation.

According to Section 6.1 of the Exchange Control Act, only authorised dealers are legally allowed to buy or sell foreign exchange.

Inspector of Financial Institutions at the Central Bank, Patrick Solomon, noted: “We have seen the ads and we have sought legal opinion, in terms of whether it is legal or not, and based on the opinions that we got, it is saying that if somebody purchase or sell foreign exchange, they are committing an anticipatory offence of conspiracy, aiding, abetting, attempting, counselling, or procuring the sale of foreign exchange contrary to our Section 6.1.”

To address this, the Central Bank is proposing amendments to the Exchange Control Act. These changes would create clear offences for activities such as advertising foreign exchange transactions, and include mechanisms for risk-based monitoring.

Mr. Solomon said the Bank is also exploring the introduction of cash thresholds, similar to international practices to ensure transactions exceeding a certain amount are automatically flagged.

“In some jurisdictions, they have a cash threshold so for example, if you deal with cash over a certain amount, it must be reported in other cases so as part of our analysis and the implementation of the Act, we look at the various scenarios and come up with what we consider to be high, medium, or low and what are the consequences. So yes, we are going to look at it to see how best we could administer the Act in terms of its implementation.”

The Central Banks notes any amendments to the Act must go before the Parliament and will require a Special Majority.

[pugboy]

will only make economy contract even more

[hover11]

will only make economy contract even more

This is what I was thinking, they just pussyfooting around the issue instead of coming up with a plan and implementing it. Someone actually getting paid to come up with these ideas....

[paid_influencer]

forex controls were never intended to be a load-bearing part of the exchange rate under Wendell Mottley's system. He relied on the appropriate pricing for forex to control demand, not creation of offences or cash-thresholds or any of the other jackassness the current governor spewed today

[paid_influencer]

i say the governor fix the rate at 2:1 and implement forex access controls. imaging how cheap everything will be

[hover11]

i say the governor fix the rate at 2:1 and implement forex access controls. imaging how cheap everything will be

Internationally the TTD doesn't have that weight though, wouldn't that crash the economy

[paid_influencer]

i say the governor fix the rate at 2:1 and implement forex access controls. imaging how cheap everything will be

Internationally the TTD doesn't have that weight though, wouldn't that crash the economy

why would an unrealistic exchange rate not based on market forces crash the economy?

i was told it makes food and medicines cheaper