BATT Advisory on New Polymer Notes from the Central Bank

BATT Advisory on New Polymer Notes from the Central Bank
October 29, 2020 BATT

Based on information from the Central Bank of Trinidad and Tobago (CBTT), the release of $20, $10, and $5 new polymer notes from the CBTT; will come into effect from Monday 2, November 2020.

On behalf of all member banks, the Bankers Association of Trinidad & Tobago (BATT) assures the public that based on information from the Central Bank; the old cotton notes will remain legal tender until December 31, 2021 in the first instance and therefore there is absolutely no need to rush into your respective bank to exchange old notes for the new Polymer notes.

It is important to note that the banks will require a period of approximately two (2) months to retrofit ATMs and various back office counting machinery, to accommodate and accurately dispense the new notes. This transition of old notes to the new notes will be done on a phased basis with the challenges associated with COVID-19 as an additional factor to consider; we must remind the public that the safety of its staff and customers is important to all banks.

BATT supports the CBTT in its effort to upgrade from cotton to Polymer with the overall objective of reducing costs and improving efficiency.

Further updates will be disseminated by your respective bank, as we seek to ensure a smooth and seamless transition to the new Polymer notes.

 

Karen Darbasie-President of BATT Interview with CNC 3 Morning Brew on the- Roll out of the Polymer Notes

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