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Drea
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Scotiabank Credit Card Upgrade

Postby Drea » April 28th, 2021, 2:20 pm

Anyone with a Scotiabank CC can clarify what the "foreign currency conversion fee" charge is that is appearing today after they completed their upgrades? I don't seem to have all updated charges on my account and this particular fee shows up at least 4 times :?:

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Re: Scotiabank Credit Card Upgrade

Postby Musical Doc » April 28th, 2021, 3:57 pm

I saw that in my statement this morning as well but one transaction. My guess is if you did any online purchase in a foreign currency they charging a fee on that now. Typical of banks to start charging for something and not inform the public smh

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Re: Scotiabank Credit Card Upgrade

Postby The_Honourable » April 28th, 2021, 4:24 pm

Was chatting with a scotia rep and saw this post. Decided to ask about it one time.

The credit card migration system has not been fully completed as yet. The rep stated that the "foreign currency conversion fee" charge is appearing on some credit cards and is actually a system error. They have received complaints about it today and are planning to remove it.

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Re: Scotiabank Credit Card Upgrade

Postby carluva » April 28th, 2021, 4:27 pm

Yes. I just noticed the same thing. This thread prompted me to check.

Looks like 4.9% - 5% is being charged in each US transaction made on the credit card.

Another dig out eye by banks.

Another way to force people to curb foreign expenses in an effort to reduce "demand on foreign exchange".

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Re: Scotiabank Credit Card Upgrade

Postby carluva » April 28th, 2021, 4:28 pm

Oho. Well this is good news if true. Scratch my other post then.
The_Honourable wrote:Was chatting with a scotia rep and saw this post. Decided to ask about it one time.

The credit card migration system has not been fully completed as yet. The rep stated that the "foreign currency conversion fee" charge is appearing on some credit cards and is actually a system error. They have received complaints about it today and are planning to remove it.

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Re: Scotiabank Credit Card Upgrade

Postby Drea » April 28th, 2021, 9:03 pm

pic.PNG


Sigh another slap to the regular man, but people can import Teslas and Porsches..

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Re: Scotiabank Credit Card Upgrade

Postby carluva » April 28th, 2021, 10:04 pm

OP, are you now seeing that advisory? That's been out awhile.

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Re: Scotiabank Credit Card Upgrade

Postby Drea » April 28th, 2021, 10:26 pm

:evilbat:
carluva wrote:OP, are you now seeing that advisory? That's been out awhile.


I actually am, it says effective March 1st but never saw these charges on my account before today.

Are the other banks doing the same?

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Re: Scotiabank Credit Card Upgrade

Postby paid_influencer » April 28th, 2021, 10:59 pm

Drea wrote::evilbat:
carluva wrote:OP, are you now seeing that advisory? That's been out awhile.


I actually am, it says effective March 1st but never saw these charges on my account before today.

Are the other banks doing the same?


Republic (the largest Forex agent in the country) has been trending down on credit cards for some years now.

Back in 2017 they had no monthly transaction limit. In 2018, they implemented a separate TTD side and USD side, with a monthly cap on USD transactions (all banks do this now, iirc). In 2019/2020 they moved down that cap from $15,000, to $12,000, and then to $10,000 last month. By the end of the year they might lower it again.

People look at that $10,000 number and think that's still a pretty big limit. But you have to keep in mind the context. The people that use that limit are small and medium businesses that no longer get forex from the bank. Previously those businesses would have bought USD wire transfers to make international payments - an option no longer available in 2021 in Trinidad & Tobago.

The new credit card limits significantly affect both the scale and scope of those businesses and you will see more products and services becoming unavailable on the island. I don't think people should get too comfortable with any credit card right now.

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Re: Scotiabank Credit Card Upgrade

Postby baby hulk » April 28th, 2021, 11:27 pm

W

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Re: Scotiabank Credit Card Upgrade

Postby wagonrunner » April 30th, 2021, 1:54 pm

The forex advisory has been out a while.
but no similar charges for FCB or RBC issued credit cards.

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Re: Scotiabank Credit Card Upgrade

Postby carluva » April 30th, 2021, 6:35 pm

I called Scotiabank and enquired about these "foreign currency conversion fee" charges. As The_Honourable said, I was also told it was a system error and the charges will be reversed. Additionally, I was also told that these are not new charges that will be applied to the card moving forward.

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Re: Scotiabank Credit Card Upgrade

Postby A172 » April 30th, 2021, 7:42 pm

Drea wrote:
pic.PNG


Sigh another slap to the regular man, but people can import Teslas and Porsches..
if u didn't even know scotia cards limit is $3k over a year now, how that affecting u now?

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Re: Scotiabank Credit Card Upgrade

Postby Drea » May 1st, 2021, 8:20 pm

A172 wrote:
Drea wrote:pic.PNG

Sigh another slap to the regular man, but people can import Teslas and Porsches..
if u didn't even know scotia cards limit is $3k over a year now, how that affecting u now?


Honestly there is no major effect to me except the additional charges for this fee... it's still somewhat unclear if the charges only apply if you've exceeded the limit of 3K which I have not. I typically do not use my cc, however over the last couple months I have been using it frequently for items for the family which usually if we were able to travel we would purchase.

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Re: Scotiabank Credit Card Upgrade

Postby A172 » May 1st, 2021, 9:44 pm

k

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Re: Scotiabank Credit Card Upgrade

Postby sickbad » May 2nd, 2021, 1:55 am

anybody else greet espanol as their defaul ATM language??. epic fail if you think you know spanish, it is best you cancel and choose english to begin with because you gonna hold up the line.

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RBC is the better bank with Canadian Roots. ScotiaBank is a bunch of less than minimum paid ESL Colombians and Jamaicans customer service reps giving email service to Trinidadians who pay big bucks for fees, interest and service charges.

preach, can i get an amen

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Re: Scotiabank Credit Card Upgrade

Postby abducted » May 2nd, 2021, 3:10 pm

All the banks in Trinidad are the same, all are part of a local banking cartel and Central Bank can't do anything about it, we have no choice, choice is an illusion

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Re: Scotiabank Credit Card Upgrade

Postby TheBoostLord » May 3rd, 2021, 12:22 pm

Drea wrote::evilbat:
carluva wrote:OP, are you now seeing that advisory? That's been out awhile.


I actually am, it says effective March 1st but never saw these charges on my account before today.

Are the other banks doing the same?


March 1st, 2020 lol so over a year now

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Re: Scotiabank Credit Card Upgrade

Postby Strugglerzinc » May 3rd, 2021, 6:27 pm

Seeing the reversal of charges on my online statement as of today.

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Re: Scotiabank Credit Card Upgrade

Postby Hwells » May 3rd, 2021, 6:36 pm

any banks still have pre paid credit cards right now. looking for a small 1k tt on a card to pay for some online games

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Re: Scotiabank Credit Card Upgrade

Postby Duane 3NE 2NR » May 4th, 2021, 12:17 am

Hwells wrote:any banks still have pre paid credit cards right now. looking for a small 1k tt on a card to pay for some online games

JMMB has VISA debit cards
https://tt.jmmb.com/contactus

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Re: Scotiabank Credit Card Upgrade

Postby Drea » May 4th, 2021, 7:53 am

Strugglerzinc wrote:Seeing the reversal of charges on my online statement as of today.


Yes it was reversed, would def like to know what that was about....

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Re: Scotiabank Credit Card Upgrade

Postby Skillys » May 4th, 2021, 3:24 pm


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Re: Scotiabank Credit Card Upgrade

Postby Strugglerzinc » May 7th, 2022, 6:21 pm

There has been some sort of breach involving at least Scotia CCs

Called Scotia after being unable to use the card and they say there was a breach involving thousands of CC numbers and all have automatically been blocked from their end. This would have been overnight last night.

My card is only stored on Amazon and Paypal so I cant say what type of data breach this was. Check your CC to make sure.

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Re: Scotiabank Credit Card Upgrade

Postby Kenjo » May 7th, 2022, 9:10 pm

Strugglerzinc wrote:There has been some sort of breach involving at least Scotia CCs

Called Scotia after being unable to use the card and they say there was a breach involving thousands of CC numbers and all have automatically been blocked from their end. This would have been overnight last night.

My card is only stored on Amazon and Paypal so I cant say what type of data breach this was. Check your CC to make sure.

You sure it’s not from aeropost from 2 weeks ago bro ?

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Re: Scotiabank Credit Card Upgrade

Postby Strugglerzinc » May 7th, 2022, 9:23 pm

Never used this CC on Aeropost.

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Re: Scotiabank Credit Card Upgrade

Postby carluva » May 7th, 2022, 9:35 pm

Sounds possible. And serious. And right on the heels of the aeropost breach too.

Curious now.

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Re: Scotiabank Credit Card Upgrade

Postby Strugglerzinc » September 3rd, 2022, 1:15 pm

Another Scotia credit card breach.

Scotia says they have widespread fraudulent charges from something called NCourt to their CCs.
I had an attempted charge of $56k (yes that's $56k) at 11:52AM today but I don't have that balance available. Good thing for not paying CC yet.

Check your notifications and CC balances.

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Re: Scotiabank Credit Card Upgrade

Postby Chimera » September 3rd, 2022, 1:16 pm

Lol what
A 56,000 single charge

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Re: Scotiabank Credit Card Upgrade

Postby cornfused » September 3rd, 2022, 3:02 pm

Despite paying the Aero Card diligently for the last 4 months. The Card cannot do much purchases. Incorrect online information everyday. Generally CRS are worthless in this neck of the woods. Call 20 CSRs and you'd get 20 different answers. Local Bank Reps much more knowledgeable. Every month that $3,000.00 USD limited supposed to reset , in the 12 months with this card it has reset maybe twice.

Working with the Bank to find a solution. Maybe a new Card

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