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Republic Bank resolves ‘technical issue’ affecting timely debiting of accounts
“We wish to assure customers that this technical issue has been resolved,” Republic Bank stated in a press release dated May 2, 2024.
‘Thorough verification exercise’
Against this background, the Bank said it went through a thorough verification exercise, which involved careful identification of customer transactions.
“Given the volume of transactions, it was necessary for the Bank to take the requisite time to meticulously validate the transactions and to develop personalised communication to each impacted customer, listing the relevant transactions to allow for a fully transparent approach.”
Payment plan available
Republic Bank thanked its customers for their continued patience and understanding and noted that it is prepared to continue working closely with customers to resolve their concerns in a satisfactory and timely manner, including providing an option for payment plans to assist them during this time.
“We understand the concern this has caused and we sincerely apologise for the inconvenience.
“We encourage customers with queries or concerns to reach out to us by visiting their branch, contacting us at 1-284-494-4725 (4RBL) or emailing republicbank.bvi@rfhl.com.”
Republic Bank says it remains dedicated to upholding the highest standards of service and reaffirms its commitment to its valued customers.
Republic Financial Holdings Limited (RFHL) completed its acquisition of Scotiabank’s operations in the [British] Virgin Islands on May 31, 2020.
Customers of Republic Bank who previously held accounts with Scotiabank were able to use their old debit cards for the final time on March 31, 2022, as the bank fully converted to the Republic Financial Holdings Limited’s (RFHL) technology platform.
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9 Responses to “Republic Bank resolves ‘technical issue’ affecting timely debiting of accounts”
This is more excuse that bank is a sh** hole
They lacked moral ethics! Persons accounts were debited and then they were told why the accounts were debited. What payment plan are they talking about? Is to make the public believe they weren’t as callous as they truly are!!!
No discussions about payment plans, in fact customers are now fighting to prove their cases! Also this bank debited customers account dating as far back as 2022! And mysteriously no transactions can be shown for the time stamp that they claimed to have paid a debit on behalf of the customer.
This bank is a scampish bank, they collected insurance money on the same said lost and still turn around and collected from their customers!
People need to move all their hard earn money from this bank! We don’t want to EXPERIENCE NO MORE GLITCHES to be deducted two years later… the nerve of this bank!
Where is FSC in all of this craziness…
There have been numerious Incidents where the CC funds have not been deposited to the business account.
Fraud on the account where every customer was debited $10 from Nevada Sleep systems. This was registered as fraud as the bank cancelled the cards but never returned the funds to the customers. Think how much money they made of this one. Constant delays in pending transactions taking days to clear of your CC cards. Even though the vendor has the funds and they are cleared in their account. Limiting Debit cards to so low you have to use Wire transfers to pay vendors. Capping Airmiles at 150K its not in the contract or AA agreement just decided to do this and not communicate to customers. The list goes on and on. Complete Failure of this bank. FSC is doing nothing to support customers after numerious attempts to have meeting and explain what the bank is doing or not doing.