Tuesday 21 November, 2017

JMMB Bank announces changes in foreign currency limits

JMMB Bank Trinidad and Tobago Limited has announced a reduction in the foreign currency access via its International Visa Debit Card. 

The bank notified its clients of the change on Wednesday. 

This reduction will impact clients across the Bank as online purchases from international vendors, and international point of sale (POS) purchases will be limited to $500 USD monthly, overseas withdrawals at ATMs have been suspended.

Clients wishing to access foreign currency are asked to call the Bank directly.  Managing Director and CEO Nigel Romano stated, “We always have our client’s best interest at heart, thus with the limited supply of US dollars, JMMB Bank had to make the call to ensure more equitable distribution throughout its client base.

As one of the smallest banks in the country, over the last few weeks we have been talking to different sets of clients one on one to sensitize them to impending changes, but we have to implement some measures to manage demand versus the limited supply."

The Bank also advised clients that transaction limits are for purchases originating outside of Trinidad and Tobago. Clients' access to TT remains at the same levels, with access to up to $20,000TT and $10,000TT daily via the Visa Debit Card, point of sale and $2,000TT via ATM and LINX Card respectively.  

Romano reassured that clients wishing to use their card for travel or emergencies overseas and wish to access funds in foreign currencies can contact their home branch or call JMMB Bank Help Desk at 800-JMMB (5662) ext 2022/2023, in order to assess and facilitate foreign currency requests.