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Frequently Asked Questions

Find information on a variety of topics, from ‘About the Bank’ to ‘Fintech’—our FAQs cover everything you need to know about Currency, Monetary Policy, Foreign Exchange, International Reserves, Financial Stability, Publications, Educational Resources, the Central Bank Museum, Art Collection, Auditorium, and the Procurement Process.

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Are customers of a commercial bank required to disclose the source of funds to be deposited to their accounts?

Where a customer has an established business relationship with a financial institution and the funds being deposited are in accordance with normal activity on the account (e.g. salary deposits to the accounts from the customer’s employer), the customer may not be required to disclose the source of funds. However, a customer is required to disclose the source of funds where a new customer is seeking to open an account with the institution or where an existing customer conducts a transaction that either:

  • exceeds the threshold established in Anti-Money Laundering and Anti-Terrorist Financing legislation (e.g. TT$90,000)
  • exceeds the institution’s established threshold
  • is not in keeping with the regular business activity on the account.
Are financial literacy services offered in Tobago?

Yes. Citizens in Tobago can request financial literacy sessions by contacting the Financial Literacy Secretariat of the Tobago House of Assembly, located at Level 2, Victor E. Bruce Financial Complex, 6-10 Post Office Street, Scarborough. Tel: (868) 639-4412 – Ext. 3401, Email: fls@gov.tt

Are our coins minted locally?

No, our coins are not minted locally. They are minted at the Royal Canadian Mint.

Are there any conditions for redemption at the Central Bank?

The coins must be recognizable as 1 cent coins issued by the Central Bank and must be presented in multiplies of five where redeemed for cash.

Are there any E-money restrictions?

EMIs in Trinidad and Tobago will be prohibited from:

  • Co-mingling of an e-money account holder’s funds with that of the EMI or any other entity or person;
  • Buying, selling or dealing in foreign currency;
  • Granting credit;
  • Issuing/allowing joint accounts;
  • Paying interest on the e-money holder’s account; and
  • Issuing e-money in currencies other than Trinidad and Tobago currency
Are there any special facilities for kids?

The Museum was designed specifically with children in mind, from the height of the exhibit displays to the inclusion of a mock grocery; it was intended to ensure that children enjoyed the ultimate museum experience.

Are there limitations to where financial literacy sessions are conducted?

The NFLP has a national focus, and thus is not opposed to offering its services at any part of the country once the safety of its staff is not compromised and once the basic session requirements are satisfied.

Based on the different types of E-money Accounts listed in Schedule 2 of the Order, can an EMI or customer move from one tier or transactional limit to the next?

Wallet sizes and other limits are important risk mitigating measures from a regulatory perspective and are connected to both KYC and consumer protection policy objectives. It is noted that any movement between tiers will impact an EMI’s risk management framework, in particular its AML/CFT as well as capital requirements. Therefore, the EMI would be required, inter alia, to 4 show evidence of possession of the necessary capital, based on the relevant wallet sizes and e-money accounts, as stated in Schedule 2 of the Order.

Can a financial literacy session be tailored to suit a particular audience?

Organizations, associations, companies or groups can specifically request focus be placed on certain financial literacy topics to satisfy the inherent needs of their audience.

Can an individual get a financial literacy session?

Currently, the NFLP does not offer individual financial literacy assistance. The department however offers its services in group settings, with a minimum audience size of thirty (30) persons.

Can I cash a cheque at the Central Bank?

Personal cheques cannot be cashed at the Central Bank. This must be done at a local commercial bank.

Can I exchange local currency for foreign currency at the Central Bank?

No, this transaction can only be done with authorised dealers of currency. These institutions are:

  • ANSA Bank Limited (formerly Bank of Baroda (Trinidad & Tobago) Limited)
  • Citibank (Trinidad & Tobago) Limited
  • First Citizens Bank Limited
  • FirstCaribbean International Bank (Trinidad & Tobago) Limited
  • JMMB Bank (Trinidad & Tobago) Limited
  • RBC Royal Bank (Trinidad & Tobago) Limited
  • Republic Bank Limited
  • Scotiabank (Trinidad & Tobago) Limited
  • Ansa Merchant Bank Limited
  • Development Finance Limited
  • Massy Finance GFC Ltd.
  • NCB Global Finance Limited

Additionally, Bureaux de Change operators are authorised to buy or sell foreign currency notes, coins and travellers’ cheques only. There are currently six (6) licensed Bureaux de Change:

  • Eastern Credit Union Co-Operative Society Limited
  • Global Exchange Trinidad And Tobago Limited
  • Grace Kennedy (Trinidad & Tobago) Limited
  • Massy Remittance Services (Trinidad) Ltd.
  • Millennium Finance And Leasing Company Limited
  • Trinidad And Tobago Unit Trust Corporation
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