Home > UTC Media Centre > Media Release > Change in Third Party Cheque Process

August 27th, 2018

Change in Third Party Cheque Process

 

Dear unitholder,

We wish to advise that effective August 30th, 2018 our bankers, will no longer be accepting US$ third party cheques (i.e. cheques made payable to an individual or an institution other than UTC), due to foreign regulations imposed on non-banking financial institutions using the international cheque clearing system. Consequently, the UTC is required to comply with these foreign regulations.

Considering the above, unitholders depositing cheques to their US Income Fund (USIF) and North American Fund (NAF) accounts are now required have all US Cheques made payable to the “Trinidad and Tobago Unit Trust Corporation.”

Alternatively, unitholders can utilize electronic wire transfer services where their funds will be accessible immediately and will not carry a holding period. Unitholders with queries on this matter can call their Investment Centre or the UTC’s Contact Center at 624-8648.

We apologize for any inconvenience that this change may cause.

Thank you for your loyalty and we look forward to our continuing relationship with you.

Karrian Hepburn

UTC’s Chief Customer Relationship Officer