Regulatory Alerts2023-12-29 | 24074Added · Updated
E-Money Issuer (Amendment) Order, 2023
The E-Money Issuer (Amendment) Order, 2023 repeals and substitutes Schedule 2 of the E-Money Issuer Order, 2020 to establish new transactional limits and capital requirements for e-money accounts. For individuals, monthly transaction limits range from $7,000 for micro-transactions to $40,000 for high-value transactions, with corresponding maximum wallet sizes and capital requirements of TT$500,000 or 3% of outstanding e-float. For businesses, micro-enterprises face a $100,000 monthly limit, while small and medium enterprises are capped at $200,000, with large enterprises and government entities having no specified monthly transaction limit but requiring TT$1,000,000 or 3% of outstanding e-float in capital.