The Central Coffer adumbrated bygone that although the paper-based $100 agenda will be aloof from apportionment on December 31, 2019, it is able to facilitate the barter of those addendum for the new polymer-based addendum up to the end of March 2020.
In a new Frequently Asked Questions advertisement on its website acquaint yesterday, the coffer declared that amid the affidavit that addition could be facilitated is if they were not in T&T amid December 9 and 31.
Following is an extract of the Central Bank’s publication:
Q: Afterwards December 31, 2019 can I still barter my $100 cardboard addendum for $100 polymer notes?
A: As provided for in Section 27A. (4) of the Central Coffer Act Chap. 79:02, the Central Coffer of Trinidad and Tobago will facilitate the barter of the cardboard addendum for the new polymer addendum aural the aeon of three months afterwards December 31, 2019 (deadline date) if the Central Coffer is annoyed that the abortion to present the addendum for accretion above-mentioned to the borderline date resulted from affairs aloft the ascendancy of the accurate buyer of the addendum or that there was some added adequate or adequate acumen for the abortion to present the notes.
Examples of what constitutes adequate and adequate acumen will be appear in due advance and would accommodate specific situations of bodies who accommodate adequate affirmation of actuality out of Trinidad and Tobago during the aeon December 9, 2019 and December 31, 2019, and appropriately clumsy to be physically present in the country during that aeon to drop the cardboard addendum or barter the cardboard addendum for the new polymer notes.
Q: Since the $100 cardboard agenda ceases to be acknowledged breakable on December 31, 2019 what should I do with my absolute $100 notes?
A: By the end of the year you should drop the addendum at a bartering coffer or added deposit-taking banking institution, absorb them, or barter them for added denominations or for the new $100 polymer notes.
Q: How can I barter the $100 cardboard addendum at a bartering bank?
A: The Bankers Association of Trinidad and Tobago (BATT) has adumbrated that the bartering banks would facilitate deposits of these addendum from their barter and accommodate their barter with the new $100 polymer bills.
Please accredit to the Customer Advisory from BATT (https://batt.org.tt/banking-industry/trinidad-and-tobagosecurities-and-exchange-commission/) and analysis with your coffer for specific details.
Q: What if I do not accept a coffer account?
A: BATT has adumbrated that for bodies after coffer accounts four of the banks (First Citizens Coffer Limited, Republic Coffer Ltd, RBC Royal Coffer (Trinidad and Tobago) Ltd and Scotiabank Trinidad and Tobago Ltd) will barter the cardboard addendum for the new polymer addendum up to a absolute of $10,000. Bodies charge to accommodate one anatomy of identification, affidavit of abode and assurance a Source of Funds declaration. For capacity see (https://batt.org.tt/banking-industry/trinidad-and-tobago- securities-and-exchange-commission/)
Q: What if I do not accept a coffer annual and accept added than $10,000 in $100 cardboard notes?
A: You may barter your cardboard addendum for the polymer addendum at the Central Coffer of Trinidad and Tobago on assembly of one anatomy of identification, affidavit of abode and Source of Funds acknowledgment during the hours of 8 a.m. to apex from Monday December 9 to Wednesday December 11, 2019. On weekdays, from Thursday December 12 to Tuesday December 31, 2019 (except on accessible holidays i.e. Wednesday December 25 and Thursday December 26) the hours will be 8 a.m. to 3 p.m.
Q: If because of religious behavior I do not accept a coffer annual but I ambition to barter my cardboard $100 addendum for the polymer addendum (e.g. affiliate of the Muslim faith), what do I do?
A: You can change your cardboard addendum for the $100 polymer addendum at the Central Coffer of Trinidad and Tobago accountable to the procedures set out above. You will be appropriate to aftermath one anatomy of identification, affidavit of abode and ample out a Source of Funds declaration.
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