Republic Bank has accepted responsibility for the situation which saw credit card customers having duplicated transactions and refund discrepancies.
Via a media release, Republic Bank says it 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.
The Bank acknowledges that this was because of technical challenges experienced with its 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 says it is working closely with all the local banks to identify impacted customers and will be taking all steps necessary to address any discrepancies.
The Bank appreciates the concern that this situation has caused to customers and its valued merchant partners and is apologising for the situation.