The Central bank of Trinidad and Tobago (CBTT) is urging the public to exchange their cotton $100 note which will cease to be legal tender tomorrow, January 1, 2020.
In a statement, the CBTT said people and organisations must take responsibility for exchanging their notes on time through commercial banks or the Central Bank, as a polymer note with additional security features will replace the old $100 bill after today.
The new bill was introduced into circulation on December 10 with the aim of countering fakes.
The Central Bank had facilitated exchanges over the weekend by opening on Saturday and Sunday, with working hours extended to 3:00PM today, December 31.
While some exceptions will be made to the notes being changed out today, those come with conditions and primarily apply to commercial banks which will collect the notes today and individuals who are able to prove that they were incapable of making the change before.
A previous release by the CBTT said “(Individuals) should come to the Central Bank with valid identification, proof of address and source of funds, and documentary evidence of inability to convert by December 31, 2019.”
Shortly after the introduction of the new note, the National Security Minister, Stuart Young, said there had been several reports of counterfeits. In response to the forgeries however, Young said “The counterfeit would not be on polymer which is easily identifiable by touch and it also doesn’t include the various security features of our new $100 note, for example, the transparent window.”