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Late Account Debits Impact Republic Bank Customers

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Republic Bank (EC) Limited—St. Lucia has alerted some customers to delays in processing their E-Commerce and point-of-sale transactions on their accounts.

Although purchases occurred years ago, the Bank was only recently making the deductions.

“We advise that all the outstanding E-Commerce and Point-of-Sale transactions will be posted to your account on April 29, 2024, and will be reflected on your April 2024 Bank account statement,” an email from Senior Country Lead Gezella Claxton on April 27 to one account holder stated.

The email detailed each affected transaction, amounting to over two thousand EC dollars in purchases from 2021 to 2023.

“We understand how crucial it is for your transactions to be processed accurately and on time, and we sincerely regret any inconvenience this issue may have caused,” the Republic Bank email stated.

According to one source, ‘quite a few’ accounts were affected.

A flabbergasted customer disclosed that he was querying the backdated deductions and purchases that he did not make.

The customer said he recognised a problem when his debit card was declined at a local business establishment.

Republic Bank has assured affected customers that if there were any discrepancies due to insufficient funds in their account during processing, the Bank would reverse any resulting overdraft and service fees.

“Republic Bank is steadfast in its commitment to rectify any inconvenience this may have caused and ensure your financial well-being,” the lending institution said.

In 2019, Republic Financial Holdings Limited (RFHL) announced that it completed the acquisition of seven Scotiabank operations in the Caribbean, including Saint Lucia.

The delayed transaction glitch apparently occurred during the transition period.

However, it was not clear how many account holders in Saint Lucia the problem affected and why the issue arose.

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9 COMMENTS

  1. Most incompetent ridiculous excuse for a banking institution ever! The people complaining about BOSL, have they suddenly deducted money from your account claiming that the transactions are from 2021 but they “didn’t come out”?! Not only that, some of them transactions they claim that should have come out are actually incorrect? It seems they’re looking for money to fund that nonsense they want to build Rodney Bay. WORST BANK EVER! They should be embarrassed. Nonsense!

  2. I know for a fact they new the funds was not deducted from their accounts when they made the transactions because they thought they would get away with it so even if the bank was not efficient enough you cannot fully blame them

    Voila now all of you have to pay the price for not being honest

  3. If customers created a folder in their email and called it bank statements, to save their monthly bank statements, they can now go back to those dates to see if the transaction took place in the first place, and when the money was taken from their account, or if it shows the transaction, but no deduction from their account.

  4. You mean to tell me republic cannot take a hit for such incompetence. Disgusting financial institution.

  5. In some cases the customers are not the thieves. Republic Bank is. They are adding transactions that have already come off the account. I have seen this happen in three cases. Madness!

  6. Technically getting money and not communicating with the authorities is fraud, whether the bank’s procedures failed or not. I am not making excuses for them but most of these folks probably thought they were getting a free lunch when the charges did not reflect on their accounts.

  7. I’ve already moved to another bank and now this. Just the loan and the need to help others are denied carelessly, hope they come through and teach the staff well on customer service.

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