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natsec said CBTT is responsible for implementation but silence on their end. Does not inspire confidence. Communication is a helluva thing. Come on, y'all. Better than that2ndchance wrote:carluva wrote:I heard that if an individual is in possession of the old 100 bills, they need to visit a bank to have them swapped out with the new ones. Is this correct?
Yes, that's what's in the media. And it seems that you will have 2 weeks to exchange your bills unless you have a good reason like you were out of the country, in which case you may get up to 3 months. That's seems to be the government's plan. However, when the minister made the announcement he said that the Central Bank would handle the implementation. So I think they will announce the date when the changeover starts and the actual timeframe and guidelines.
Blaze d Chalice wrote:These new notes have GPS in it?
When all the old sheit notes disappear and everybody pumping with new fancy note, what stopping people from going back to storing it under their mattress and in pig tail bucket and in the ceiling?
Easy to find as they live in West Morings & Marvalpugboy wrote:all criminals will have been caught by that timeBlaze d Chalice wrote:These new notes have GPS in it?
When all the old sheit notes disappear and everybody pumping with new fancy note, what stopping people from going back to storing it under their mattress and in pig tail bucket and in the ceiling?
That's what PNM ppl said with last $50.hydroep wrote:Money is devil t'ing...
Rovin wrote:even though is heavy police presence why ppl does post up such a high risk operation .... is everything hadda go on d net so
screwbash wrote:Rovin wrote:even though is heavy police presence why ppl does post up such a high risk operation .... is everything hadda go on d net so
maybe it was d yankee dollars that come tru instead for a next reason and the new polymer is a distraction. why such a heavvy police and army for uncirculated money. if by chance a man teif a container of the money what they cud do with it if none of the money in circulation yet? all dey needed was ah amalgamated contractor with police escort to move $80 million in plastic "paper". jus like when kamla blackout the entire country, what is moved in or out during them hours ?
ONE of Trinidad and Tobago’s senior banking executives has confirmed that most of the automated teller machines (ATMs) in the local banking system are not currently configured for polymer notes.
That is why the country’s ATMs mostly dispense $20 and $100 notes, said the banker, who requested anonymity because he was not authorised to speak either for his bank or the Bankers Association of T&T on the issue.
The disclosure about the suitability of the existing ATMs to dispense polymer notes casts doubt on how quickly the commercial banks can update the hardware that operates the machines.
The $50 bill experience
T&T’s first polymer note, the $50 bill, went into circulation “over the counter” at commercial banks in December 2014.
At the time, the Central Bank announced that the polymer $50 bill would have been available through ATMs on a phased basis across banks from June 2015.
The phased introduction of the $50 bill to T&T’s ATMs appears to have stalled.
He noted that to cater for the polymer $100 notes, the foreign vendors of these machines will have to come on site to re-calibrate, which could take months.
https://trinidadexpress.com/news/local/ ... 496ee.html
maj. tom wrote:Soooo.... since 2015 with the polymer $50 they knew and they never got the machines configured? Since 2015?
ROFL, please Rowley, find a way to blame Kamla on Wednesday morning. PNM supporters need to know that this is Kamla fault.
No USD forex, no gas, now literally no local currency.
Blaze d Chalice wrote:Well maybe if Calmla didn't teef out the money we would be able to upgrade/purchase new machines.
Also 'literally no local currency' - because Calmla teef out the money.
All the old paper hunjeds going into Calmla pocket and me ent lie because watch d size of she house.
zoom rader wrote:Blaze d Chalice wrote:Well maybe if Calmla didn't teef out the money we would be able to upgrade/purchase new machines.
Also 'literally no local currency' - because Calmla teef out the money.
All the old paper hunjeds going into Calmla pocket and me ent lie because watch d size of she house.
Government does not own the Banks ATMs
pugboy wrote:how allyuh plan to clean the old bills ?
my stash is small, i looking at
- tires
- pails of oil, filters
- house paint
- xmas groceries
‘Money laundering could spike’
Mariano Browne on $100 makeover
Kalifa Sarah Clyne
Former minister in the Ministry of Finance, Mariano Browne, believes Government’s timing to introduce the new polymer $100 bill to could be inconvenient on one hand or lead to a spike in money laundering, on the other.
In an interview with Newsday on Sunday, Browne said choosing to introduce the polymer note during the Christmas season which is the busiest spending time of the year, was not the best choice.
On Thursday, National Security Minister Stuart Young announced that Government would be removing the paper $100 bill from circulation and introducing a polymer note. Young said the matter was a national security issue, adding that the polymer note would be beneficial in the fight against corruption and criminal elements.
To decrease the time necessary for introduction of a bill, Government brought a bill to Parliament on Friday, which was debated in the House and then debated in Senate on Saturday. Browne, an economist, said while the measure was necessary, the timing was off.
“What will happen is people will attempt to monetise deposits or people could decide to spend as much as they can, so you see a spike in retail traffic where money obtained illegally is converted into goods. That is money laundering,” Browne said.
He said that would defeat the purpose of the exercise. He said the high volume of retail traffic would make it difficult to spot anomalies.
While he acknowledged there was no alternative as Government had already made its decision, he said the exercise should have been initiated in January.
In January, Browne said, sales are flat and it would be simpler to detect suspicious transactions.
As it is now, he said, the Government’s decision makes it difficult for normal businesses.
“It puts pressure on the banks. If we have people coming to unload mattress money or money hoarded, the lines will be longer and it will just make it inconvenient and uncomfortable for anybody who has to do normal business transactions.”
Browne said the Christmas spending may also make it difficult for Government to determine how successful the exercise is.
goalpost wrote:When d 14 days beginning? Or it start already?
Tried to deposit cash in Scotia Atm but didnt get thru.
Blaze d Chalice wrote:Well maybe if Calmla didn't teef out the money we would be able to upgrade/purchase new machines.
Also 'literally no local currency' - because Calmla teef out the money.
All the old paper hunjeds going into Calmla pocket and me ent lie because watch d size of she house.
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