Foreign Currency Usage Limits on Credit Cards

[zoom rader]

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!

System is designed to keep ppl at the plantation level by limiting spending and keeping those at a certain class.

[AlphaMan]

Can't supply more than you have
Why is Trinidad the only country in the Caribbean that is having this problem?.

[pugboy]

i wonder how certain johnny come lately car dealers who selling teslas and benz getting usd so easy

i could understand the other big longtime dealers are conglomerates

[AlphaMan]

i wonder how certain johnny come lately car dealers who selling teslas and benz getting usd so easy

i could understand the other big longtime dealers are conglomerates

Good observation..
Maybe they have assistance from the outside.
Ain't no way they getting access to all that US from connections in here

[Chimera]

i wonder how certain johnny come lately car dealers who selling teslas and benz getting usd so easy

i could understand the other big longtime dealers are conglomerates

family to sinanan

[pugboy]

no wonder ministers buy cars from them

selling new cars is plenty money to put out

[AlphaMan]

What about D and D auto world..
Where them getting all there us

[pugboy]

aren’t they foreign used vs new?
used car dealers require a tenth of the new car dealers

What about D and D auto world..
Where them getting all there us

[MaxPower]

FCB is still 8k….for now

[MaxPower]

Allyuh Trinis still not understanding why all the big businesses only getting all the USD?

Why this and why that, how come this and that, and its only this one and that one….

Come na man wake up

[pugboy]

we are sufferers collecting crumbs
we like to study other ppl business

Allyuh Trinis still not understanding why all the big businesses only getting all the USD?

Why this and why that, how come this and that, and its only this one and that one….

Come na man wake up

[Mmoney607]

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.

The banks always selling them us to do this....

[Dave]

And politically appointed.

i wonder how certain johnny come lately car dealers who selling teslas and benz getting usd so easy

i could understand the other big longtime dealers are conglomerates

family to sinanan

[redmanjp]

Can't supply more than you have
Why is Trinidad the only country in the Caribbean that is having this problem?.

Our gas production is low and unlike them islands we don't have a tourism product that brings in forex except Carnival and even that was canceled twice due to the bug.

[redmanjp]

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

Would that grant a temporary increase in that circumstance?

[redmanjp]

Also if buying CAL tickets online do they price in TT or do u have to buy in US?

[Chimera]

lol just now you wud hadda write rowley or stuart on a case by case basis to ask for permission to go abroad and to get US to spend

cant get US in the bank and they keep cutting the credit cards

every september/october FCB cuts their card limits in half

i use to be able to spend 20k USD a month on a single business card, it cut to 10k and now its 5k.........

[pugboy]

doubt very much so

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

Would that grant a temporary increase in that circumstance?

[zoom rader]

Men studying credit card cut but still voting Red mis government.

Stupid country filled with Stupid people

[Skillys]

Men studying credit card cut but still voting Red mis government.

Stupid country filled with Stupid people

True let them keep doing that.

[whiterose868]

So republic drop their forex limit to 5k a month. Looks like I may need to keep multiple cards just to have a decent amount of forex to survive as a small business and individual who likes to travel. Stueps

[paid_influencer]

you could travel to Tobago bro

[MaxPower]

So republic drop their forex limit to 5k a month. Looks like I may need to keep multiple cards just to have a decent amount of forex to survive as a small business and individual who likes to travel. Stueps

Morning bro yes republic dropped their forex limit to 5k a month.

A rel dent to small businesses.

[st7]

selling my US stipend 7.5tt to 1usd for SME


come thru

[paid_influencer]

seeing imbert put out a release saying:

(1) forex sold to the public in 2023 was about the same as in 2022, so the supply of forex ent change that much
(2) he say the demand change because the economy booming (lol)

also he saying allyuh online shopping too much and that driving up demand. he going to discuss it with the banks

[Dave]

Online tax to be increased come budget 2024?

[eliteauto]

Online tax to be increased come budget 2024?

Possible, I know of one bank that appears to have difficulty remitting USD to credit card companies atm. Also wondering why almost all vehicle dealerships are having sales, some are saying it's the end of their financial year but I'm wondering if something is coming to dampen demand there as well

[DMan7]

Well we all know Gas is going to increase for sure come budget 2023 / 2024.

[Dave]

Definitely something to think about and makes total sense.

Online tax to be increased come budget 2024?

Possible, I know of one bank that appears to have difficulty remitting USD to credit card companies atm. Also wondering why almost all vehicle dealerships are having sales, some are saying it's the end of their financial year but I'm wondering if something is coming to dampen demand there as well

[paid_influencer]

cnc3 did a whole segment on the cut.

it strange because everybody they interview saying things getting worse and the economy slowing down. people cutting back on frivolous purchases. the demand increase not coming from the economy. so... who is the demand coming from? where all the forex going?

people working in the bank telling me is capital fleeing the island... people who have money abandoning the country and setting up elsewhere.. going Guyana, US and Canada. Capital making companies outside and sending wire transfers to pay their foreign subsidiary.. easiest thing to do is swipe a credit card to pay rent and buy start-up supplies...

why everybody jumping ship? things really getting bad on the island, not just with crime but the economy getting dead slow too. nowadays place looking empty like it was during covid, which insane..

imbert not going to fix this by raising OPT... capital controls is the answer, which is what this dropping of the US$ credit card limit is.. capital controls.. on you tho, not them...decided by the bankers and their friends..