Banking in Trinidad & Tobago

[sharkman121]

The only thing really separating the banks right now might be service. Most, if not all of them have the same online and mobile banking facilities, and very similar interest rates.

I'm most impressed by the service in Scotia, and FCB's service isn't bad at all either. But I've been a Republic man since primary school, and I doh feel any real urge to switch. Their service is fine too.

fcb eez slowwwww!!!!!!

[Kenjo]

i have been with RBTT for like 1 years.recently joined scotia over the last 3 years.the services are pretty much similar wrt internet and phone banking.the main difference is that scotia always has some deal that they have to offer and they actively try to let you know what they are doing.hey therefore market better.dry so yesterday they call me a lone dry so.So basically they all the same and all still need to get more modern.i think they all now rolling out mobile banking too so we will see how fast they catch up to the rest of the world

[rodfarva]

HCU
dem have my money safe safe
no one, not even me can get it

[sharkman121]

i have been with RBTT for like 1 years.

yeh i kno i idle

[toyota2nr]

No matter how we look at it all banks in T&T are the same. They offer the same interest rates and same products. They are all joined together anyway. It is the lack of competition among the banks that keep the economy as it is.

Whether some people believe it or not banks in T&T discriminate a lot and because of that a lot of deserving persons are denied loans and other services.

I have been with RBL for about 10 years now and in the early days service was very poor.

I got my first loan without much fuss but maybe that was because my mom stood as security for the loan.

RBL is pretty static in terms of they don't offer anything new or give customers incentives. Their mortgage terms and costs are extrmely high though, discourages any first time home owners from purchasing a new home.

[Kenjo]

i have been with RBTT for like 1 years.

yeh i kno i idle

haha that should be 18 years i think republic is the only bank that has Visa prepaid cards just to differentiate them from some of the other banks for those of you guys/gals who don have a real credit card

[noshownogo]

HCU
dem have my money safe safe
no one, not even me can get it

bess advice if i ever heard any, i gonna take out pension plan wit Clico and buy some Enron shares while I at it

[Chimera]

FCB for US currency/bank drafts/swift transfers/loans, Just have to email them , rarely have to go into the bank, most of the time a FCB driver will bring what ever I hadda get.

Republic for personal banking, (i use the ABM to make deposits to avoid lines and then use online banking to pay bills and credit cards, i assume all the banks have this service but i`m not sure)
Republic also has a cayman islands division in port of spain which makes no sense at all..as you still have to declare where your money is coming from.

Scotia for US currency

I have the linx/credit card machine service with RBTT as they were the cheapest (or only, i can't remember) ones providing the service when I signed up.






All banks have reallllll shitty interest rates now, so much so that if you factor in inflation, your money is actually depleting while its "safe in the bank"

[AllTrac]

ah credit union

[*Nebula*]

HCU
dem have my money safe safe
no one, not even me can get it

LOL!

[ronsin1]

I have banked with three banks so far

Scotia Bank because I just wanted to open an account service at that time was OK
FCB which my salary goes through I wanted a change from Scotia
Republic for business purposes for my convenience

All my loans go through a credit union

[shaneelal]

Bank with FCB and RBTT, was about to leave FCB then they revamped their online banking, very user friendly and easy to use. Their self deposit is simple and by 3pm on the same day the account shows that the checks/cash has been entered. RBTT's online banking needs a lot of work.
I pay no fees to at FCB other than credit card annual fee, can withdraw any number of times with the savings account. Also, with FCB you can transfer funds to other financial institutions.

I wanted to open an account at Scotia but they wanted a job letter. I've heard that Republic and Scotia charge the most fees.

[Sky]

One thing eh.
Allyuh watch Scotia.
The service great and they treat you very good.
But when you reach your ccard limit dey like "nah man no scene, we go raise the limit for you"
When you hit it again they raise it again.
Next thing you waist deep in debt and dey like "no scene man, just come in and we'll work out a payment plan"
Btw, dey ain't kill the card yet eh
You fix up and spend more.

[pete]

(scotia) They increased mine last year by 3k and since then I've been going to the most 30% of my limit and always paying it off in time.

[~Vēġó~]

^^^not to mention when Christmas time comes around they raise yuh limit and say is because you are a good customer.....

[Damien]

fcb online banking really conveinient, only thing i go to the bank to do is deposit checks and i use the fast deposit

[Hammy Bolo]

https://www.firstcitizenstt.com/personalFinance.html

with internet banking transactions are real time like if you transfer from one account to the next and you need it immediately its available one time- telebanking and internet banking the best in the country and FREE

Credit Cards are the best as they can be used in Trinidad or abroad- the same card- lots of purks such as Bonus points and travel insurance 51 days interest free when u use your card

The Retirement Provider really helps u to put away funds today for retirement and the plan is registered with BIR for tax reduction

Mortgages are the best- 6.5% and up, slashed negotiation fees, slashed legal fees and valuation fees

Rollon Roll off cars and new cars can be financed over a 5 year period at this time at affordable rates- same day approval can be obtained on most loans once the required documents etc are in order

Managers chequs $20.00

Cable transfers $65.00 and the person you sending it to can get this within 24- 48 hours

Most staff are friendly and offer a great service

Not to mention its the only bank that has a full suite of products even offering stock exchange brokerage services via its First Citizens Investment Services (formerly CMMB)

FIRST CITIZENS IS THE ONLY TOTALLY LOCAL BANK- this means that 100% profits remain in Trinidad & Tobago to stimulate our already rough economy

The red bank and navy blue bank are Canadian owned so they just here to make profit on we, and the light blue bank majority shareholder is the Insurance giants that causing ppl financial turmoil with deposits so that the light blue bank can very well be sold to a foreign party as right now is a big playing chip with the govt bailout- the govt has to recover somehow from that decision


just my $0.02

[sharkman121]

^^^not to mention when Christmas time comes around they raise yuh limit and say is because you are a good customer.....

true...but if one is disciplined financially then he/she has no business getting a credit card in the first place.

[Bizzare]

What do you mean? Having a credit Card is a must.......

[sharkman121]

Ahh, but credit card companies make gigantuous amouts of money living off the debt and financial indiscipline of people, especially in the US. U see how many credit debt agency commercials u see on cable offering to help u settle yr debt?

This figure runs into the billions easily. To me and u it may be simple logic, "dont buy what u cant afford or dont intend to pay for". But for alot of ppl a credit card is like a "magic" source of funds that they can just buy what they want and pay the minimum

[crazychinee]

I use republic bank for most of my online transactions. Unlike the other banks, payments to your credit card hits the account IMMEDIATELY. Very useful if you're out of the country, or in a bind and need the balance cleared asap.

I also travel a bit so the availability of the AAvantage credit card is a big plus for me as well.


My first credit card I got with Scotia ;unsecured ;low limit after republic bank blanked me.
1 year later I applied with Republic, got a new credit card with 5X the scotia limit; and got an unsecured loan same time.
Everything processed in 1 day; had the money in my account the day after applying.

My vote goes to Republic; but scotia quick to lend money to people that mightn't be able to pay eet back

[zer0xp]

Just out of curiosity...

What kind of history do you have to have with a bank to get an unsecured credit card from them?

[Chimera]

at 19 years old, rbl only offered me a $500 US limit credit card, that was with no banking history at all with them and no willingness to put up any collateral and no job letter or source of income.

anything more I would have had to give security.

[Chimera]

^^^not to mention when Christmas time comes around they raise yuh limit and say is because you are a good customer.....

true...but if one is disciplined financially then he/she has no business getting a credit card in the first place.

yuh mad....

[Bizzare]

^^ Daz wha I saying. A credit card is needed in this day and age. Doesn't mean you'd spend what you don't have.....

[Chimera]

it's much safer to have a CC than a debit card imho

Credit Card get stolen? call the 24 hour hotline and tell them to lock it down, even if it have any transactions before you get to call, the CC company will cover it.

Debit card get stolen and the bandits beat yuh senseless til u give up the pin and then clean out yuh account? hard luck...prolly hadda wait til working hours to report the card stolen anyway


and you get insurance for flights/rental cars/hotels plus reward points when using credit cards

and the best part...30-50 day interest free loan?

for me it's a 60k interest free loan every single month

[sharkman121]

^^^not to mention when Christmas time comes around they raise yuh limit and say is because you are a good customer.....

true...but if one is disciplined financially then he/she has no business getting a credit card in the first place.

yuh mad....

sorry, i meant INdisciplined..... gosh alyuh low mih nah

i consider myself disciplined enough and i use my credit card ALL the time.. its a must in this day and age of online transactions.

[Hammy Bolo]

Scotia has the highest level of arrears and are the fastest to repossess cars etc to recover outstanding debts whereas other banks may be a bit more cautious in lending

I use republic bank for most of my online transactions. Unlike the other banks, payments to your credit card hits the account IMMEDIATELY. Very useful if you're out of the country, or in a bind and need the balance cleared asap.

I also travel a bit so the availability of the AAvantage credit card is a big plus for me as well.


My first credit card I got with Scotia ;unsecured ;low limit after republic bank blanked me.
1 year later I applied with Republic, got a new credit card with 5X the scotia limit; and got an unsecured loan same time.
Everything processed in 1 day; had the money in my account the day after applying.

My vote goes to Republic; but scotia quick to lend money to people that mightn't be able to pay eet back

[j.o.e]

Any reviews on Bank of Baroda and Intercommercial Bank? Need to open a new account and want to consider all of my options outside of RBC, Republic, Scotia, FCB.
More looking at general service , online options , credit/debit card options, fees etc.

[10-01]

FCB ...