The Central Bank of Trinidad and Tobago is committed to deepening financial inclusion and promoting access to banking services for everyone. Together with the Bankers Association of Trinidad and Tobago and commercial banks, we are making it easier for people to open a basic bank account without complex requirements.
To support this, the Central Bank has issued Guidelines for Basic Banking Accounts to all commercial banks, making it simpler for individuals and micro-enterprises to open and manage an account in accordance with FATF Guidance on Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion and Simplified Customer Due Diligence (SDD) measures
Basic Banking Accounts allow you to:
- Deposit, withdraw, or transfer up to $90,000 annually
- Access your money through a debit card, online banking, and ACH services
- Pay no account opening or maintenance fees
- Hold one account per person – single or joint
(Standard service fees apply for ATM and local transactions.)
We have also issued guidance to electronic money issuers (EMIs), allowing them to offer low-value e-money wallets of up to $7,000 to individuals with minimal requirements. These wallets offer an additional convenient option for receiving and spending money digitally.
For more information, please contact your commercial bank to learn about their Basic Banking Account offering or email info@central-bank.org.tt for assistance.