Bank rush for new $100 notes

Hun­dreds of peo­ple swarmed banks in Port of Spain Tuesday morn­ing, stand­ing in line from ear­ly as 7 am.

This, as var­i­ous fi­nan­cial in­sti­tu­tions be­gin ex­chang­ing the old $100 bill for the new poly­mer note, which was launched yes­ter­day.

The pub­lic has 21 days, in­clud­ing to­day, to go in­to the banks and ex­change their cur­ren­cy be­cause—as of Jan­u­ary 1st, 2020—the old bills will be use­less.

An­nounc­ing the change last week, gov­ern­ment of­fi­cials said it is be­ing done quick­ly as a na­tion­al se­cu­ri­ty mea­sure.

In an­tic­i­pa­tion of the rush, Re­pub­lic Bank an­nounced on Mon­day it was chang­ing its bank­ing hours to fa­cil­i­tate cus­tomers ex­chang­ing their bills. How­ev­er, the lines out­side Re­pub­lic’s Port of Spain branch were much longer com­pared to the oth­er banks in the city.

Ac­cord­ing to the bank’s web­site, Re­pub­lic Bank’s non-mall branch­es will re­main open, with­out clo­sure dur­ing the day, from:

• Mon­day to Thurs­day, 8 am to 4 pm;

• Fri­days 8 am to 5 pm.

The open­ing hours at all of its mall branch­es re­main the same: Mon­day to Fri­day, from 10 am to 5 pm.

The Bankers As­so­ci­a­tion of T&T (BATT) al­so ad­vised cus­tomers on Mon­day that pro­vi­sions are be­ing made to have ATMs dis­pens­ing the new poly­mer note as quick­ly as pos­si­ble.

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