Foreign Currency Usage Limits on Credit Cards

[widdyphuck]

Widdy ph u ck really going in in this place...

How will small businesses survive? Right before the Xmas Season this drastic cut..66% reduction.
What about people who outside Trinidad.
Ohh wait...

[Cantmis]

She ain't too smart

[ProtonPowder]

Never knew Pricesmart branches per square km is a valid economic index

[pugboy]

what percentage of a person shopping cart in pricesmart is explicitly foreign goods though ?

[hover11]

The pie is getting smaller and the division of the said pie is for certain companies. Just yesterday a state body complained about a lack of access to Forex. The point is the pie needs to get bigger or the country will see incredibly hard times.
I don't think the average consumer understands what going to happen to grocery prices if this continues tbh.

[Dizzy28]

Ppl do realize when massy and pricesnart stock shelves it's solely for us the public right?

The US$ they get is dordtky for the public. They make a profit but the public get goods.

[PariaMan]

Central Bank gives US to Financial Institutions
Blame therfore lies on these two entities.

Also Imbert and the government must come up with plans to increase the amount of foreign currency earned.

Finally laws have to be passed to regulate as the gentleman's agreement not working

In St Lucia, all stores provide duty-free shopping with the condition you must use foreign currency and your change is in EC making all of them earners of FC.

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[paid_influencer]

Ppl do realize when massy and pricesnart stock shelves it's solely for us the public right?

The US$ they get is dordtky for the public. They make a profit but the public get goods.

prcesnart does not sell to the public tho

you have to be a private member and pay a yearly fee of hundreds of dollars and give them ID card and all kinda jackassness to buy there

[paid_influencer]

We’re going to have to start utilizing merchant merchant conversion to TTD while shopping online and at US Retailers. Amazon and many retailers do it, it’s usually around 3% additional on your bill

that still counts on your foreign credit card limit, even if it says it is TTD on the website. you would be paying 3% for no reason

[paid_influencer]

Is it just me or are the signal bells ringing for the revision of the negative import list? Or maybe the imposition of higher import duties on certain items?
That might be an easier pill to swallow than immediate devaluation. Or at least pave the way for the government to make it sound more palatable.

a negative import list not going to happen under imbert.

why?

a negative import list would necessarily involve state economic planning, which I sincerely believe Imbert is incapable of.

he literally cannot do it. it is not a skill in his repertoire.

10 years now there has been no economic plan. plenty talk in parliament and firing of independent offices and lawsuits against technocrats. but economic planning? never happened under his administration.

[paid_influencer]

RBC slashes forex limit on credit cards by 66%

RBC has announced a 66% reduction in the foreign exchange limits for its personal and business banking credit cards, effective December 1.

According to a notice issued by the bank today, credit cardholders' monthly limits will be reduced from approximately $41,000 (US$6,020) to $14,000 (US$2,058).

“RBC is committed to being the bank for all of you and to providing optimal choices for our clients. Given the ongoing foreign currency supply constraints, we need to regularly review FX limits on our clients’ credit cards, while striving to balance the needs of our clients with the availability of foreign exchange (FX) supplies,” it stated.

“As a result, effective December 1, 2024, FX limits on RBC credit cards will be adjusted as follows: Personal Banking and Business Banking Clients (excluding Private Banking): Credit cardholders monthly limits will be reduced from TTD41,000 to TTD14,000 in FX equivalent to a maximum of the account’s credit limit, whichever is less,” the notice stated.

https://trinidadexpress.com/business/rb ... a0b02.html

just quoting dis because is Friday and news gets released today when they want to bury it

RBC Cut allyuh forking credit card to $2000 USD / month

deal with it. more cut coming soon

[pugboy]

so the country is now segregated by who have black credit card and who don’t

[Dizzy28]

so the country is now segregated by who have black credit card and who don’t

Scotia black card now has the same USD limit as FCB's Classic Visa which is thier basic Credit Card.

Until FCB cuts their limit black card ent mean much

[The_Honourable]

so the country is now segregated by who have black credit card and who don’t

Scotia black card now has the same USD limit as FCB's Classic Visa which is thier basic Credit Card.

Until FCB cuts their limit black card ent mean much

FCB more than likely would be next, and the question is when. Their last revision on foreign exchange limits was in september 2021.

Soft measures would be in place such as, not anybody will get a credit card and that you would be encouraged to use your visa debit. Also persons with existing credit cards would find it harder to get the higher tier cards.

[pugboy]

scotia black card has monthly fee $300
for those who could afford dat

[screwbash]

Welcome back the days of that idiot ANR Robonson and how hard life was after the oil boom.

[Chimera]

scotia black card has monthly fee $300
for those who could afford dat

Raised to 350 when the new 5000 usd limit comes into effect

[pugboy]

you so old

Welcome back the days of that idiot ANR Robonson and how hard life was after the oil boom.

[hover11]

HYATT saw the signs and trinis got all emotional about how "great our dollar was" Lets face it, in under 10 years we have been turned into a bankrupt country. If that does not scare us I wonder what will

[Dave]

The negative list will work. Why do we need ten different brands of soap powder all at the same price?
So a tweaked version....

[pugboy]

so just bring down the cheaper chinese ones

The negative list will work. Why do we need ten different brands of soap powder all at the same price?
So a tweaked version....

[Dave]

Lol then we will have 20 different cheaper ones.
At one point all we had was locally made Dunlop tyres and Goodyear made in Jamaica.

Ppl who travelled had tyres as their luggage.
Who remembers those days?

[pugboy]

grapes and apples only for xmas, divali eid

bringing containers of onions and garlic was big racket business

the good ol days of ec0

Lol then we will have 20 different cheaper ones.
At one point all we had was locally made Dunlop tyres and Goodyear made in Jamaica.

Ppl who travelled had tyres as their luggage.
Who remembers those days?

[hover11]

Ban all them fireworks

grapes and apples only for xmas, divali eid

bringing containers of onions and garlic was big racket business

the good ol days of ec0

Lol then we will have 20 different cheaper ones.
At one point all we had was locally made Dunlop tyres and Goodyear made in Jamaica.

Ppl who travelled had tyres as their luggage.
Who remembers those days?

[PariaMan]

Do we need luxury cars costing over 50000
us dollars

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[Dizzy28]

Alot of those measures you all thinking about probably anti free trade and against WTO

[hover11]

Alot of those measures you all thinking about probably anti free trade and against WTO

If we don't have the US supply to meet demand we have to prioritize, the WTO not giving us any US

[pugboy]

yeah the push for hybrids and electric lol

Do we need luxury cars costing over 50000
us dollars

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[Dizzy28]

Alot of those measures you all thinking about probably anti free trade and against WTO

If we don't have the US supply to meet demand we have to prioritize, the WTO not giving us any US

We do still export.
We wouldn't want our exporters to be negatively affected.

[st7]

i seeing a few people discussing possible solutions while one frother only frothing.

hush yuh mc and spamming the ched with yuh complaints nah