International Cash Advances

Assuming that the Bank which is acquiring the withdrawal charges the customer TT$10 to use its ATM, the following will apply.

If the customer wishes to withdraw the equivalent of TT$1,000 at an international ATM, then TT$1,085 must be available on the account for authorisation to occur, i.e.

(i) TT$1,000 plus

(ii) 6% of TT$1,000 = TT$60 plus

(iii) TT$15 plus

(iv) TT$10, totalling TT$1,085.

When the transaction is posted, $1,039.50 will be deducted from the account, i.e.

(i) the transaction amount of TT$1,000 plus

(ii) the currency conversion fee of 1.45% or $14.50

(iii) the TT$15 fee from First Citizens and

(iv) the TT$10 fee from the acquiring bank.