PORT OF SPAIN –  Scotiabank in Trinidad has announced new measures for providing foreign exchange to its customers, saying they are necessary “as we continue to navigate the foreign exchange considerations” prevailing in the country. In a letter to its customers, the bank said that effective December 1, 2024, the maximum US dollar spending limit per calendar month on their Scotiabank credit cards will be reduced to US$5,000 and US$2,000 respectively until further notice. “This change includes all transactions conducted outside of Trinidad and Tobago along with all international online transactions. All local TT dollar transactions conducted online or at merchants remain unaffected,” it added. But it noted that “the option to use your ScotiaCard Visa debit for overseas point of sale (POS) transactions and ATM withdrawals will no longer be available. “We recognise that the situation has been challenging and we thank you for your continued understanding throughout these changes,” Scotiabank said in its communication to customers. In addition, the bank also announced that as of December 8 this year, there will be an increase in the annual fees and interest rates on credit cards. The annual membership fees will now range from TT$180 to TT$4,200  annually, while the interest rates will be between 26.20 to 28.99 per cent. (Jamaica-gleaner)…[+]