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E-Money Issuer (Amendment) Order, 2023
The Minister of Finance of Trinidad and Tobago, advised by the Central Bank, issued this Order to amend the E-Money Issuer Order, 2020 by substituting its Schedule 2. The revised schedule establishes specific monthly transaction limits, maximum wallet sizes, and capital requirements for e-money accounts based on servicing categories for individuals and businesses. These requirements distinguish between micro, mid-value, and high-value transactions for individuals, and categorize business enterprises by size to determine applicable financial thresholds.
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EMI
Servicing
Category –
Individuals
Monthly
Transaction
Limit
Maximum
Wallet Size
Capital
Micro-Transactions $7,000/month $7,000 TT$500,000 or 3% of the outstanding balance of the e-float, whichever is the greater.
Mid-Value
Transactions
$20,000/month $20,000 TT$500,000 or 3% of the outstanding balance of the e-float, whichever is the greater. High-Value Transactions $40,000/month $40,000 TT$1,000,000 or 3% of the outstanding balance of the e-float, whichever is the greater.
SCHEDULE 2
(Clauses 8 and 12)
E-MONEY ACCOUNTS
TRANSACTIONAL LIMITS AND CAPITAL REQUIREMENTS LEGAL NOTICE NO. 391 REPUBLIC OF TRINIDAD AND TOBAGO THE FINANCIAL INSTITUTIONS ACT, 79:09 ORDER MADE BY THE MINISTER ON THE ADVICE OF THE CENTRAL BANK UNDER
SECTION 17(4) OF THE FINANCIAL INSTITUTIONS ACT
THE E-MONEY ISSUER (AMENDMENT) ORDER, 2023
- This Order may be cited as the E-Money Issuer (Amendment)
Order, 2023. - Schedule 2 of the E-Money Issuer Order, 2020 is repealed and
the following schedule is substituted:
Legal Supplement Part B—Vol. 62, No. 190—29th December, 2023 1949 Citation
Schedule
amended
L.N.
PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTER, CARONI REPUBLIC OF TRINIDAD AND TOBAGO–2023
SCHEDULE 2
(Clauses 8 and 12)
E-MONEY ACCOUNTS
TRANSACTIONAL LIMITS AND CAPITAL REQUIREMENTS–Continued EMI Servicing Category – Business Monthly Transaction Limit Maximum Wallet Size Capital Micro-Enterprises1 $100,000/month $100,000 TT$500,000 or 3% of the outstanding balance of the e-float, whichever is the greater. Small Enterprises2 and Medium Enterprise3 $200,000/month $200,000 TT$1,000,000 or 3% of the outstanding balance of the e-float, whichever is the greater.
Large Enterprises4 and Government N/A N/A TT$1,000,000 or 3% of the outstanding balance of the e-float, whichever is the greater. 1 1-5 employees, including the owner or manager; assets up to $250,000 and annual sales up to $250,000. 2 6-25 employees, including the owner or manager; assets up to $1,500,000 and annual sales up to $5,000,000. 3 26-50 employees, including the owner or manager; assets up to $5,000,000 and annual sales up to $10,000,000. 4 51 employees and above. 1950 E-Money Issuer Order, 2023 Dated this 28th day of December, 2023.
C. IMBERT
Minister of Finance
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Source: Central Bank of Trinidad and Tobago — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works