Scotiabank is asking customers and local businesses to avoid recirculating the $1, $5, $10 $20 and $50 cotton notes and $50 polymer issued prior to January 2021.

It also is reminding its customers to use its digital cashless payment systems such as M10 Handheld Devices, Point of Sale Machines, the Scotia Caribbean App or Scotia OnLine to receive payments.

In a new advisory, Scotiabank outlines its procedure for the currency transition process, in accordance with a notice issued by the Central Bank on the matter.

Image courtesy Central Bank of Trinidad and Tobago.

“In keeping with the Central Bank of Trinidad and Tobago’s (CBTT) notice in June of this year which highlights the completion of the country’s conversion to polymer banknotes, we’re implementing the following changes to help ensure a smooth transition for our customers in time for January 1, 2022,” Scotiabank says.

At the ATM.  By December 1, 2021, the $1, $5, $10 $20 and $50 cotton notes and $50 polymer issued prior to January 2021 will no longer be accepted at Scotiabank ATMs.

In-Branch.  The $1, $5, $10 $20 and $50 cotton notes and $50 polymer issued prior to January 2021 will be accepted in-branch, over the counter until December 17, 2021.

At the Night Safe.  The $1, $5, $10 $20 and $50 cotton notes and $50 polymer issued prior to January 2021 will be accepted via Scotiabank night safes until December 19, 2021.

After January 1, 2022.  The $1, $5, $10 $20 and $50 cotton notes and $50 polymer issued prior to January 2021 will no longer be legal tender for cash payments. Please note that CBTT will continue to exchange these notes indefinitely after January 1, 2022.

Image courtesy Central Bank of Trinidad and Tobago.

Scotiabank is among the latest institutions announcing its plan to transition away from old TT currency—namely, all cotton notes and polymer notes issued before January 2021.

The National Petroleum Marketing Company Ltd. (NP) recently issued its own advisory, informing the public that it will not be accepting “old bills” after 17th December 2021, as part of its process to complete the transition to polymer banknotes issued after January 2021.

The Central Bank recently reminded the country in its own advisory:

“Banknotes bearing series dates prior to the year 2020 can be redeemed for value indefinitely at the Central Bank of Trinidad and Tobago.”

Image courtesy Central Bank of Trinidad and Tobago.