Sunday 5 April, 2020

Revised hours for redemption of old $100s for February

The Central Bank has implemented revised banking hours for the redemption of old cotton-based $100 bills.

In an update on the redemption process, the bank said for the month of February it will be open on Tuesdays, Wednesdays and Thursdays only from 9 am to 3 pm.

The Central Bank further advised that there will be no redemptions on Carnival Tuesday, February 25, 2020.

Arrangements for Tobago will be published in due course, it added.

Meanwhile, the same-day exchange of old bills up to $1000 will end tomorrow. 

The Central Bank is accommodating the exchange of the old bills for the new polymer notes if they are presented three months after January 1, 2020.

In keeping with its guidelines for the redemption process, the Central Bank assured that it will facilitate the exchange of the old bills for those who were hospitalised, incapacitated, out of the country or unable for legal or other serious, legitimate reasons deposit or exchange their old blue bills.

Citizens are reminded that this exchange will only be conducted if the Bank is satisfied that individuals failed to present the notes for redemption ahead of the appointed date due to circumstances beyond their control, or that there was “some other good or sufficient reason for the failure”.

The old bills ceased to be legal tender on December 31, 2019.

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