In a bid to manage its forex portfolio, Republic Bank has announced that it will lower its US dollar spending limit per billing cycle on all its credit cards to US$12,000 from US$10,000.
This will come into effect on March 23.
In a release on Monday, the bank said the change will include all foreign transactions (conducted outside Trinidad and Tobago), including international online transactions where the chosen billing currency is TT dollars, which will also count as part of the US$10,000 limit within a billing cycle.
The measures will remain “until further notice.”
Local TT-dollar transactions, either online or at merchants, will remain unaffected.
“The bank acknowledges the impact this decision may have on the day-to-day operations of its clients and apologises for the inconvenience caused.”