Republic bank moves to single currency credit cards

[Chimera]

got this today

how will this affect us if at all?
good or bad?

are other banks doing this as well?

link to info on rbl website


https://www.republictt.com/about/single ... -questions

[allblacks]

RBC aka RBtt has been doing this for years. The conversion at the point of sale applies to the local day rate.

[trinigamer]

FCB has always used TT$ conversion for their CCs

[Country_Bookie]

The currency conversion margin means that the rate of exchange u pay will be higher than the selling rate they quote. So if they quoting 6.37, u might end up paying above 6.50 on every US dollar u spend.
Even if u have usd hard currency, u still have to pay for ur usd purchases in ttd. To see how fcuked up this is, imagine u spend US$1,000. U go to the teller with US$1,000 to pay for it. U will then be told that u have to sell that US$1k to the bank at their prevailing buy rate (let's say 6.36), and u get TT$6,360. However the US$1k balance on ur credit card will be converted at a higher rate (6.5) and u will owe the bank $6,500. So u would spend an additional TT$140 under this new system than what obtains at present.
Maybe those who bank with fcb and rbc can tell us what exchange rate they apply to usd purchases now?

[pete]

I know that with scotia I pay a little over the current rate. Say today's rate is 6.3733 I've recently been paying 6.41**

Where you getting US$1000 in cash? They would only give you the buying cash rate which is 6.20

I'll give you 6.30

[toyota2nr]

Some websites like ebay allow you to pay in TT. That way you can repay the bank just what you owe. No exchange rate.

[trinigamer]

...
Maybe those who bank with fcb and rbc can tell us what exchange rate they apply to usd purchases now?

transaction yesterday done at 6.3733

[pete]

Some websites like ebay allow you to pay in TT. That way you can repay the bank just what you owe. No exchange rate.

You ever looked at the rate that they use? It's far worse than what our banks will charge you for US.

[allblacks]

RBCs conversion last week was at the US selling rate on that day.

[allblacks]

Some websites like ebay allow you to pay in TT. That way you can repay the bank just what you owe. No exchange rate.

You ever looked at the rate that they use? It's far worse than what our banks will charge you for US.

X2 Conversion rate is substantially higher than local rate

[zoom rader]

Not effected, pays with foreign CC to avoid that skull.

[Chimera]

Some websites like ebay allow you to pay in TT. That way you can repay the bank just what you owe. No exchange rate.

lollllll i think their conversion rate is something like 6.7 TT to one US

[syncrod]

Rate will probably close to current fx rate 6.3733 ~ 6.3933. Not 6.40+

[pete]

02/26/2015 NETFLIX.COM $57.58 TTD
02/26/2015 US DOLLAR $0.00 TTD
02/26/2015 8.99 X 6.4 $0.00 TTD

Scotia really robbin me yes :\

[pugboy]

lol, republic now realize why so many people don't use their cards because of the
bother to pay two separate accounts

[Duane 3NE 2NR]

Some websites like ebay allow you to pay in TT. That way you can repay the bank just what you owe. No exchange rate.

You ever looked at the rate that they use? It's far worse than what our banks will charge you for US.

this!

same for Amazon. it is far better to pay in US$ on Amazon than to pay in TT$

[pioneer]

I would like to believe RBC uses a fixed rate of 6.5ttd to 1usd

Any bankin bros wanna clarify?

I could see RBL doing the same, this is choopedness.

[nervewrecker]

How this reading for debit cards?

And who selling USD?

[redmanjp]

what about the vtm card? that's a US dollar only card

[Chimera]

The vtm card you always have to load with tt anyway not so?

[ronsin1]

02/26/2015 NETFLIX.COM $57.58 TTD
02/26/2015 US DOLLAR $0.00 TTD
02/26/2015 8.99 X 6.4 $0.00 TTD

Scotia really robbin me yes :\

FCB charge for Netflix:-

$7.99 USD converted to $51.08 conversion rate $6.39
charge date 02/23/15

[silverfire]

We called the ccc. They gonna use the online merchants conversion rate. They said amazon is 6.8 so we will soon be charged 1us to 6.8tt when we buy on amazon. Smh.

[pugboy]

bwahaha

[pete]

02/26/2015 NETFLIX.COM $57.58 TTD
02/26/2015 US DOLLAR $0.00 TTD
02/26/2015 8.99 X 6.4 $0.00 TTD

Scotia really robbin me yes :\

FCB charge for Netflix:-

$7.99 USD converted to $51.08 conversion rate $6.39
charge date 02/23/15

Wait nah so Netflix robbin me too, wtf.

[ronsin1]

02/26/2015 NETFLIX.COM $57.58 TTD
02/26/2015 US DOLLAR $0.00 TTD
02/26/2015 8.99 X 6.4 $0.00 TTD

Scotia really robbin me yes :\

FCB charge for Netflix:-

$7.99 USD converted to $51.08 conversion rate $6.39
charge date 02/23/15

Wait nah so Netflix robbin me too, wtf.

nah dude I only paying for one screen

[redmanjp]

We called the ccc. They gonna use the online merchants conversion rate. They said amazon is 6.8 so we will soon be charged 1us to 6.8tt when we buy on amazon. Smh.

Bess tuh use d vtm card instead then

[pioneer]

silverfire, source please?

[M_2NR]

I would like to believe RBC uses a fixed rate of 6.5ttd to 1usd

Any bankin bros wanna clarify?

I could see RBL doing the same, this is choopedness.

nar it's day rate.

NETFLIX.COM $-57.12 TTD

got a rate of 6.353726362625139
renewed on the 10th last month, so when this month renews i'll update.

So now everyone on this page knows who has netflix and what cc they're using... Let's hope their online banking password isn't close to their netflix password

[2NR Smurf]

We called the ccc. They gonna use the online merchants conversion rate. They said amazon is 6.8 so we will soon be charged 1us to 6.8tt when we buy on amazon. Smh.

That info is incorrect. Did you get the name of the individual who told you this?

[Skanky]

So which banks still allow payment of cc using USD?