Foreign Currency Usage Limits on Credit Cards

[Kenjo]

Scotia - Limit 3000USD
RBC - Limit 100,000TTD Equivalent
FCB - Limit 20,000USD
RBL - Limit was 10,000USD last I heard.

Just waiting to use out my aero points before I throw those aero cards in the trash.

Aero literally going from hero to zero faster than all the others .

[Chimera]

Wife get a 83k card from Scotia last week...I say yes...niceness...a lol 12k extra usd to use for the month....
Then find out is 3k usd limit per month

As it is now when I booking flights I does hadda go to the travel agency to pay with tt, go lazzari and Simpson to book rental car and pay tt and conserve the us on my card for spending abroad. Went bank the other day for us for a business trip, 3 days in New York, they give me $200 us cash and tell me use my credit card. Yet the flight alone was 1600 usd.

Real headache yes.

[eliteauto]

Explains why I've seen an increase in buyers for USD at both the hotel and the airport. Men offering 8:1 and up

[carluva]

But even though the limit on aero card is 3000 USD, the maximum limit on the TTD side still applies.

This sucks. I signed in for an aero card last year to get the miles for travel. But TBH you'll still get the points based on TTD purchases. So even if you spend 50000 TTD per month, you'll get the equivalent points after its converted to USD even though you spent more that the 3000 USD equivalent.

Good to have other cards available in case...

[Chimera]

Same trip in ny right before carnival...I gone in apple and order 3k in items ( using a fcb card with a 20k usd per month limit) u know it get reject like 5 times till d card get locked. When I call fcb they say it eh have any issue in their end. I had to use my wells fargo debit card to make the purchase.

[paid_influencer]

Wife get a 83k card from Scotia last week...I say yes...niceness...a lol 12k extra usd to use for the month....
Then find out is 3k usd limit per month

As it is now when I booking flights I does hadda go to the travel agency to pay with tt, go lazzari and Simpson to book rental car and pay tt and conserve the us on my card for spending abroad. Went bank the other day for us for a business trip, 3 days in New York, they give me $200 us cash and tell me use my credit card. Yet the flight alone was 1600 usd.

Real headache yes.

if that happening now, when things suppose to be milk and honey before an election - imagine what going to happen after



economy going to collapse unless something is done to more forex more available to the average business or individual. or maybe local companies don't really need to do business with the outside world.

[RedVEVO]

^^

TT people not making or working for USD $$$ ..

So why you sooooo concerned about USD $$$$ spending ?

All you are doing is hurting the economy ..

BAN ALL CC USE OF USD with immediate effect .

Imbert is God .

[NR8]

Anyone else unable to access April 2020 statement online? 627-2684 supposed to be 24/7 but a recorded message says call back tomorrow.

[slacker_83]

Same here... I contacted via email using the app. a rep called back to tell me he can't access the statement either. He said they aware of the issue and trying to rectify it as soon as possible.

[Musical Doc]

Anyone else unable to access April 2020 statement online? 627-2684 supposed to be 24/7 but a recorded message says call back tomorrow.

I had this problem with my december statement and it was never sorted even though I made numerous calls and emails to scotia. I keep record of my transactions so I made payments based on that. January statements worked fine so I was back on track after that.

[xtech]

So If oil not going to be selling Trinidad will no longer have a steady source of USD to supply local demand even if it was being rationed out by the banks with preferential access given to the big boys. So real market value for TTD will have to be used Hmmmm all credit card USD limits might get nixed and USD held in private accounts might get swiped and converted.

[paid_influencer]

So If oil not going to be selling Trinidad will no longer have a steady source of USD to supply local demand even if it was being rationed out by the banks with preferential access given to the big boys. So real market value for TTD will have to be used Hmmmm all credit card USD limits might get nixed and USD held in private accounts might get swiped and converted.

credit cards definitely getting nixed. Last year at $50/barrel they had to cut limits, this year is $20 a barrel.

USD bank accounts, I might be wrong, but they cannot legally convert. But I'm sure they'll find a way to hold these funds, like they held legally-due VAT refunds for a few years before giving you a "solution".

[xtech]

credit cards definitely getting nixed. Last year at $50/barrel they had to cut limits, this year is $20 a barrel.

USD bank accounts, I might be wrong, but they cannot legally convert. But I'm sure they'll find a way to hold these funds, like they held legally-due VAT refunds for a few years before giving you a "solution".

What I mean by USD accounts being swiped. Is you will get regular bank statements in USD so yeah the bankers will say it still there and all is well money is safe....but try an access it Nah....sorry but you will only be able to withdraw it as TTD at current exchange rates. An in the mean time the bank account service fees which are in USD drawing it down to zero anyway.

[MaxPower]

Please be advised that the maximum US dollar spending limit per billing cycle on your Republic Bank credit card will be reduced from US$10,000 to US$5,000 effective September 21, 2023, until further notice.

This change includes all transactions conducted outside of Trinidad and Tobago as well as all international online transactions, including transactions where the chosen billing currency is TTD. These online transactions will be included in your US$5,000 billing cycle limit. All local TTD transactions conducted online or at merchants remain unaffected.

Additionally, VTM limits will be adjusted as follows effective October 1, 2023:

Maximum VTM card balance reduced from US$5,000 to US$3,000
VTM online loads reduced from US$1,000 to US$500
Should you require any additional information, please contact our Customer Care Centre at 627-3348 or visit our website at republictt.com


What assness is this?

[DMan7]

The VTM's no longer in use for years now. Tried to renew mine a few years back and couldn't do it as they phased it out. How they still using VTM? They brought it back?

[pugboy]

so how allyuh gonna buy plane tickets and pay for foreign accommodation ?
might not have money to buy food after

[paid_influencer]

so how allyuh gonna buy plane tickets and pay for foreign accommodation ?
might not have money to buy food after

this is a serious problem for SMEs too. credit cards was like the last link to getting forex. imagine you have to do a project and the card max out

[MaxPower]

This is really a blasted inconvenience yes…

[triniterribletim]

so how allyuh gonna buy plane tickets and pay for foreign accommodation ?
might not have money to buy food after

The rich already have their dual citizenships, foreign bank accounts and foreign credit cards. The poor are the only ones who will feel it. By poor, I mean the middle class people who feel they have money, but bleeding economic power every day. Maybe they will have to look into budget vacations instead of posing in Times Square with a bottle of Grey Goose in their hands.

[paid_influencer]

the rich might benefit actually. local businesses that cannot get forex have to buy from those who do have access to forex. which is the 1% who have private banking within the same banks that denying you forex

[MaxPower]

Yeh them ppl with they small business who making they monthly online purchases will feel it….10k to 5k is a big decrease.

Gyro man and Chinee better understand they cant be wanting to pay to 7.5 again.

[bluefete]

This simply means that things are getting worse not better.

But Imbert will come and talk a whole lot of cacaholery in the Budget that the ecornermee is doing well. For him, yeah. Not for the poor.

But the poor like it so anyway. So no worries.

[pugboy]

after jagdeo pull up rowlee the other day
conrad enill come out and say we doing well too
guess “we” depends who you are

[sachin]

Anyone has experience banking with cibc or can give reviews on them?

[Duane 3NE 2NR]

The VTM's no longer in use for years now. Tried to renew mine a few years back and couldn't do it as they phased it out. How they still using VTM? They brought it back?

My RBL VTM card expired on Aug 31st 2023 - so there are still some people with them that have not expired as yet.

[Chimera]

Yeh them ppl with they small business who making they monthly online purchases will feel it….10k to 5k is a big decrease.

Gyro man and Chinee better understand they cant be wanting to pay to 7.5 again.

With my credit cards I use to be able to spend over 100k usd per month. Now I'm down to 20k usd with the same cards

[pugboy]

this will certainly affect the usd black market on the ground

if I had to guess republic probably has at least a third or closer to half of the card user market,
esp business owners

[bluefete]

this will certainly affect the usd black market on the ground

if I had to guess republic probably has at least a third or closer to half of the card user market,
esp business owners

Correct about Republic. I think it is about half.

OH SNAP. I JUST REMEMBERED.

Republic Bank is majority owned by the government of Trinidad and Tobago.

Central bank pressure them and Imbert pressure Central bank to tell republic to reduce the amounts.

Makes perfect sense now!

[pugboy]

yeah but fcb is where the govt slush users are at too

[zoom rader]

This is really a blasted inconvenience yes…

Red mis government victory 2025