Persons are being reminded of legally outlined limits when it comes to paying with coins.
This reminder came today from TTPost, which took to Facebook to share information as included in the Central Bank Act.
According to the legislation, 25 cent coins can be used as legal tender for payments up to $200.
Meanwhile, 10 cent and 5 cent coins can be used as legal tender for payments up to $100 each.
TTPost is urging persons to adhere to these legal guidelines to ensure the efficient processing of transactions.
The Central Bank Act, Chapter 79:02, Section 26 (3) is as follows:
…a tender of payment of money is legal if made as follows:
(a) in the case of notes, for the payment of any amount;
(b) in the case of coins of a denomination of one dollar or over, for the payment of an amount not exceeding five hundred dollars;
c) in the case of coins of a denomination of twenty-five cents and over, for the payment of an amount not exceeding two hundred dollars;
(d) in the case of coins of a denomination of under twenty-five cents, for the payment of an amount not exceeding one hundred dollars
