REPUBLIC Bank has admitted blame where credit card customers had duplicated transactions and discrepancies in their refunds.
Many took to social media to complain. Most were affected after they used their credit card to shop at PriceSmart outlets across the country.
In statement on Tuesday, the bank noted, “Republic Bank is aware that several credit card holders of other banks saw transactions that were conducted between August 14th to September 6th at certain merchants, being reversed and re-posted within the past few weeks,” it stated.
It stated that “Technical challenges experienced with our credit card processing system which resulted in the original transactions being incorrectly processed as USD transactions.
“The Bank also confirms that these issues have since been corrected.”
Republic Bank stated, “We are working closely with all the local banks to identify impacted customers and will be taking all steps necessary to address any discrepancies.
“We appreciate the concern that this situation has caused to customers and our valued merchant partners and for this, we sincerely apologise.”
