RTC is tracking two major stories this hour.
The first one concerns financial firm, Hallmark Trust Ltd.. Today, Wednesday, October 31st, 2018, rumors began to swirl that Hallmark Trust Ltd. may be closing its doors in the TCI and that account holders should remove their funds immediately.
It’s also being alleged in public forums that if this closure is in fact true, it may be the result of a Financial Services Commission (FSC) investigation.
Reliable sources at the FSC say that this notion is false. If Hallmark Trust is in fact closing its doors, it would be the decision of MasterCard, of which Hallmark is a principal member.
These rumors intensified after a poster was spotted at the Graceway IGA supermarket which reads:
HALLMARK CUSTOMERS
WE ARE CURRENTLY NOT ACCEPTING ANY MONEY FOR THE HALLMARK PREPAID CARD. SORRY FOR THE INCONVENIENCE. PLEASE CONTACT OFFICE FOR MORE INFORMATION.
RTC made several attempts to contact Hallmark Trust Ltd. throughout the day but we were unsuccessful–our calls went unanswered. We have been informed though, that an official statement regarding the matter will be released soon.
Hallmark Trust Ltd. is a registered and licensed trust company based in the Turks and Caicos Islands. Hallmark is also a principal member of MasterCard Worldwide. Hallmark Trust Ltd. issues the Compass Prepaid Mastercard which is used widely by TCI residents.
We are unaware at this time whether or not there is any truth to the closure rumors. We are awaiting official confirmation and will share those details as soon as they become available.
Source: Allie Capron (RTC News)
