In Trinidad and Tobago, we all know that access to foreign exchange has become increasingly difficult. Whether you need foreign currency for travel, education, online shopping, software, business expenses or life abroad, accessing your own money can feel like an unnecessary battle.
I am here to tell you about a relatively new option called Wam.
Wam is licensed by the Central Bank of Trinidad and Tobago as an Electronic Money Issuer and Payment Service Provider. It allows verified users to fund an account with TTD, convert that money into currencies such as USD, euros and GBP, and then move the converted value through supported banking or digital-payment networks.
That means you can convert TTD inside Wam and send the resulting USD to an overseas account, or use Sendana to obtain a virtual card and begin spending online.
Two disclaimers before the comments warm up
First, before anybody rushes into the comments asking, “Isn’t this the guy from Trillions?”, let us settle that now.
The owner of Trillions is James Kerron Timothy Junior Rose. We are not related. One quick look at Trillions’ social-media videos should make it abundantly clear that we are two different people. I have also been living in Thailand for the past two years, while he lives in Trinidad.
Of course, some people will still skip this paragraph and confidently type the accusation anyway. Basic, basic due diligence is apparently an optional feature.
Second, Wam does not require you to abandon whatever method you currently use to access USD. If you already have a better route, keep it. Nobody is confiscating your system.
This is an additional option, and every legitimate option that helps us access foreign currency should be welcomed. The fact that Wam operates within the Central Bank’s regulatory framework makes it particularly worth understanding.
How the process works
You must first create and fully verify your Wam account. Account registration and identity verification are your responsibility, so follow the company’s instructions or contact Wam support if you encounter problems.
Once verified, you can fund Wam with TTD using an eligible debit card, bank transfer, cash through a Wam agent or a deposit at a participating bank branch.
After the TTD appears in your wallet:
1. Open the US Dollar account.
2. Select Convert.
3. Confirm that TT Dollar is the currency being paid and US Dollar is what you will receive.
4. Enter the TTD amount.
5. Review the displayed exchange rate and final USD amount.
6. Confirm the conversion.
The rate fluctuates. I have completed conversions at approximately TT$7.80 and TT$8.30 per US$1. The rate shown before confirmation is what matters, so pay attention to the final amount you will receive.
A verified personal account currently has a TT$40,000 monthly transaction limit. At rates between TT$7.80 and TT$8.30, that represents approximately US$4,819 to US$5,128—not a fixed US-dollar allowance. Fees and the live rate can affect the final amount.
That limit applies per verified personal account. So yes, every eligible adult in your household might as well get registered, but each person must properly verify, own and operate their individual account.
Where can you send the money?
Once the USD appears in Wam, you can send it to Wise, Payoneer, Charles Schwab or any compatible US bank account abroad.
And when I say any US bank account, I mean any account for which you have valid receiving details for Wam’s supported ACH or wire-transfer rails. Please, folks, do not come into the comments listing every bank in America and asking, “What about this one?”
Charles Schwab customers should use the routing and direct-deposit information provided inside their Schwab accounts.
You can also send euros to a compatible European bank account using the required European banking details.
Your Wam USD account details may also be connected to PayPal so that you can start receiving PayPal funds and keeping them in USD.
No foreign account? Use Sendana
If you do not have Wise, Payoneer, Charles Schwab or a foreign bank account, Sendana is the easiest route to begin spending.
Wam and Sendana are separate companies and require separate verified accounts.
Inside Sendana, copy your wallet address for receiving USDC on the Stellar network. In Wam, select Send Crypto, choose USDC, select Stellar and paste the Sendana address.
Wam requires something in the memo field, so enter a short purpose such as “Bills,” “Rent,” “Shopping” or “Travel.” Send a small test amount first because crypto transfers generally cannot be reversed.
Once the money arrives, Sendana provides a virtual card that can be used for eligible online purchases. The card can also be added to Google Pay.
Apple Pay availability depends on the country, device and account region. If it cannot be added while you are in Trinidad, try setting it up during your next visit to a supported market—Miami, I am looking at you.
Build your payment infrastructure
This is not Wam versus Wise, Payoneer, Schwab or Sendana. Get all the tools available to you and connect them.
None of them require a monthly subscription to maintain the account, although transaction, conversion, receiving and card fees may apply. Together, they form the payment infrastructure you need to participate more effectively in the global economy.
Wam has been a major game changer for me. I earn money in TTD while living in Thailand, convert it into USD and move it to my Wise, Bank of America and Charles Schwab accounts—all through Wam’s app or website.
It does not solve T&T’s foreign-exchange problem (only new revenue into the country can fix that). But the ability to convert and move a meaningful amount of my TTD every month has provided genuine relief, and greater access to my own money.
For the in-depth guide with images and FULL instructions to set this up, visit keronrose.com, head to the blogs for the “Convert Your TTD to USD” article or just Google it.
