Friday 10 April, 2020

Scotia, Republic extend banking hours as customers rush for new $100s

A notice outside First Citizens Bank along Maraval Road, PoS, indicates that the new polymer $100 notes will be available no later than today, December 10, 2019. Photo by Darlisa Ghouralal.

A notice outside First Citizens Bank along Maraval Road, PoS, indicates that the new polymer $100 notes will be available no later than today, December 10, 2019. Photo by Darlisa Ghouralal.

At least two major financial institutions have revised their banking hours to facilitate exchange of new $100 polymer note.

Scotiabank on Tuesday advised that it has adjusted its hours to accommodate the influx of persons coming in to cash in their “old” bills before they are demonetised on December 31.

The bank indicated the following changes:

Mondays – Thursdays, beginning tomorrow

Branch hours will be 8 am – 3 pm

Mall branches will continue with their normal hours of 10 am - 5 pm

Fridays

Normal banking hours for branches: 8 am – 5 pm

Mall branches: 10 am – 5 pm

On Saturday, December 14 and December 21, 2019

All branches (including mall branches): 9 am – 12 pm

Sales Centres will be closed

Only the deposit and exchange of $100 notes and the replacement of debit cards to the new ScotiaCard Visa Debit will be facilitated on Saturdays.

On Christmas Eve, branch hours will be 8 am – 1 pm while mall branches will operate from 10 am – 3 pm.

On New Year’s Eve branch hours will be 8 am – 3 pm and mall branches will operate from 10 am – 3 pm.

The bank reminded consumers that it will only facilitate the process for its customers or a one-time exchange for unbanked individuals (persons who do not maintain an account at any bank).

Further, Scotiabank said transactions outside customers’ normal profile will need to be substantiated/documented.

Customers were also reminded that the regular Know Your Customer/Anti Money Laundering and Counter Financing of Terrorism (AML/CFT) guidelines will apply in each transaction.

Republic Bank has also made temporary adjustments to its banking hours from today to facilitate the exchange of old $100 bills for the new polymer bills.

The bank announced the new hours on its website on Monday shortly after the announcement of the December 31 demonetisation deadline:

Non-mall branches will operate from 8 am - 4 pm, Monday to Thursday, and 8 am – 5 pm on Fridays with no closure during the day. All mall branches will maintain their regular hours of operation, 10 am - 5 pm Monday to Friday.

Select branches will open on Saturdays from 9 am - 1 pm for the remainder of December.

North: Ellerslie, West Mall, Long Circular Mall, Glencoe, Diego Martin.

South/Central: South Park, Gulf City, Princes Town, Point Fortin, Centre City, Couva.

East: Arima, Valpark, Grand Bazaar, Trincity.

Tobago: Auchenskeoch.

All branches will open all day on Christmas Eve and on New Year’s Eve.

Mall hours: 10 am - 5 pm

Non-mall hours: 8 am - 4 pm

The banks have assured that they are working on making the transition to the new polymer $100 notes as smooth as possible.

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