Conditions of Use

THE USE OF A REPUBLIC BANK INTER NATIONAL CREDIT CARD IS GOVERNE D AT

ALL TIMES BY THE TERMS A ND CONDITIONS SET FORTH
In this Agreement: b) Any minimum payment(s) due and unpaid (if any) in Billing Period; in respect of any
1. a) "ABM" means automated banking machine. previous Billing Period(s) which remain unpaid (either wholly or partially) at the end of the
b) "Acquiring Bank" means the entity that initiates and maintains relationships with current billing period; and/or
Merchants for the acceptance of a Credit Card. c) All interest and other charges accrued due under the terms of the Agreement at the end of
c) "Bank"means Republic Bank Limited and its heirs, successors and assigns. the current Billing Period. The minimum payment so advised will be rounded up to the next
d) "Billing Period" means the period between the dates of any two consecutive Billing whole dollar. The Payment Due Date shall be at least twenty (20) days from the end of the
Statements. current Billing Period.
e) "Billing Statement" means a statement provided to the Cardholder showing information, 24. A late payment fee of 3.2% of the Minimum Payment due in respect of any Billing Period, subject
including (but not limited to), the Debt, the minimum payment due and the Payment Due to a minimum fee of US$10.00/TT$68.00, will be payable by the Cardholder if payment of that
Date. Minimum Payment is overdue.
f) "Cardholder" means any person to whom or for whose use a Credit Card is issued by the 25. Payments made to the Credit Card Account will be applied in the following order:
Bank and includes a person to whom a Credit Card is issued by the Bank at the request of a) Interest on overdue payments in respect of any Billing Periods;
the Principal Cardholder under the provisions of Clause 33. b) Interest on amounts due at the end of the current Billing Period;
g) "Cash Advance" means any payment of cash obtained by the use of the Credit Card. c) Fees on amounts in excess of the Credit Card Line;
h) "Co-Applicant" means a person or persons to whom a Credit Card has been issued on the d) Annual fees and all other fees and charges accrued due under the terms of this Agreement
basis that they are risk assessed and credit scored in conjunction with the Principal not otherwise specifically set out in this Clause;
Cardholder. e) Overdue payments on the Credit Card Account in respect of any Billing Periods;
i) "Credit Card" means the Republic Bank Credit Card currently issued to a Cardholder. f) Amounts in excess of the Credit Card Line;
j) "Credit Card Account" means an account in the name of the Principal Cardholder g) Amounts on the Credit Card Account due at the end of the current Billing Period.
maintained by the Bank in relation to Credit Card Transactions, and includes a joint Credit 26. a) In the event that the Principal Cardholder does not receive a billing statement within ten
Card Account applied for by the Principal Cardholder and another person. (10) calendar days after the end of the relevant Billing Period, then the Principal Cardholder
k) "Credit Card Cash Limit" means the maximum total amount of Cash Advances as notified must so advise the Credit Card Centre immediately and arrange to take delivery of a copy
by the Bank to the Cardholder(s) from time to time which may be obtained. of that Billing Statement. No Billing Statement will be provided if there has been no activity
l) "Credit Card Line" means the maximum allowable amount of credit available at any one for the ensuing month and no balance is due.
time. b) Any queries concerning any entry on a Billing Statement must be made in writing by the
m) "Credit Card Transaction" means the purchase of goods or obtaining of services or cash Principal Cardholder to the Credit Card Centre within thirty (30) calendar days after the end
against use of the Credit Card, the Card number or in any manner authorised by the of relevant Billing Period after which time the Bank will not be obliged to consider any
Cardholder for debit to the Credit Card Account or utilising of any services made available query.
to the Cardholder by the Bank from time to time in respect of the Credit Card. 27. Payments to the Credit Card Account may be made at any branch of the Bank, an automatic
n) "Debt" means all amounts (including Cash Advances, interest, service fees or other debit to a deposit account maintained at any of the Bank’s branches, or via RepublicOnline or
charges) owed to the Bank on a Credit Card and / or Credit Card Account RepublicMobile. Payments that exceed the Credit Card Line are not allowed unless the amount
o) "International Provider" means Visa Incorporated/Mastercard International Incorporated, due at the time is more than the Credit Card Line.
Merchant or the Acquiring Bank as applicable. 28. No interest will be payable on any amounts debited to the Credit Card Account if the outstanding
p) "Merchant" means the corporation, firm, or individual who has agreed to honour the Credit balance is paid in full by the Payment Due Date shown on the Principal Cardholder’s current
Card upon presentation by the Cardholder. Billing Statement. Payment must be paid in full by the Payment Due Date for two (2) consecutive
q) "Nominee" means any person who is nominated in writing by the Principal Cardholder on Billing Statements. In default of payment as aforesaid, interest will be charged on all purchases,
the Credit Card Account for a Credit Card. cash advances, interest and fees from the previous month’s Billing Statement plus on all
r) "Payment Due Date" means the date by which the debt is to be paid by. purchases and fees for the current month’s Billing Statement.
s) "PIN" means the Personal Identification Number for the Principal Cardholder or any 29. Interest will be computed at a monthly periodic rate of 2% for the Billing Period. This interest rate
additional Cardholder to use with the card. may be changed by the Bank at any time and from time to time in its sole discretion.
t) "Principal Cardholder" means the Cardholder in whose name a Credit Card Account is 30. Where the Credit Card is used to obtain Cash Advances a handling charge of 3.2% of the amount
maintained by the Bank. so obtained, subject to a minimum charge of US$5.00/TT$25.00, will be payable by the
2. The Credit Card must be signed by the Cardholder immediately upon receipt and may only be Cardholder to the Bank. Cash Advances shall not exceed the Credit Card Cash Limit.
used: 31. An Annual fee of US$25.75 in respect of the Republic Bank International Visa Classic Credit Card,
a) By the Cardholder after it has been signed. Republic Bank/TSTT International VISA Credit Card and Republic Bank International Mastercard
b) Subject to the terms of this Agreement and the conditions of use of the Credit Card which Credit Card; US$34.50 in respect of the Republic Bank International VISA Gold Credit Card and
are in force at the time of use. US$75.00 in respect of the Republic Bank International Platinum Credit Card issued to a
c) Within the Credit Card Line of the Credit Card Account. Principal Cardholder and US$13.00 in respect of each additional Republic Bank International
d) To obtain the facilities and benefits from time to time made available by the Bank in respect VISA Classic Credit Card, Republic Bank /TSTT International VISA Credit Card and Republic Bank
of the use of the Credit Card. International Mastercard Credit Card; US$23.00 in respect of each additional Republic Bank
e) Subject to the right of the Bank, in its absolute discretion and without prior notice, at any International VISA Gold Credit Card and US$50.00 in respect of each additional Republic Bank
time to cancel, refuse or re-issue, renew or replace the Credit Card or to withdraw the right International Platinum Credit Card issued to the Cardholder must be paid whether or not the
to use the Credit Card for, or to refuse any request for authorization of, any particular Credit Credit Card is used. These fees will be charged on each anniversary date of the opening of the
Card Transaction and to publish any such withdrawal or refusal. Credit Card Account and may be changed by the Bank anytime and from time to time in its sole
3. The Bank will debit the Credit Card Account with the amount of all Credit Card Transactions and discretion.
any other liabilities of the Cardholder and any loss incurred by the Bank arising from the use of 32. A fee of US$5.75 will be charged in respect of each new account and card issued in respect of
the Credit Card. The Principal Cardholder will be liable to pay to the Bank all amounts so debited, Republic Bank International Visa Classic Credit Card, Republic Bank/TSTT International VISA
whether or not a Sales Voucher or Cash Advance voucher is signed by a Cardholder. Credit Card, Republic Bank International Mastercard Credit Card and Republic Bank International
4. The Bank is authorised to debit the Credit Card Account with all charges pertaining to the VISA Gold Credit Card and US$30.00 in respect of Republic Bank International Platinum Credit
acquisition of the Credit Card, and/or its renewal and/or its replacement in the event of Card issued because of lost/stolen/damaged Credit Card.
loss/theft/damage. 33. The Bank may in its sole discretion issue an additional Credit Card for the use of any person who
5. Transactions using the Card may be authorised by the Cardholder using, as the circumstances is nominated in writing by the Principal Cardholder as Co-Applicant. The Principal Cardholder
require, a combination of the Card and the PIN or Signature or other security details associated shall be liable for the use of the additional Credit Card as if he had used it himself and for all
with the Card or the Account or in other ways advised to the Cardholder by the Bank from time amounts arising from or losses incurred by the Bank in connection with or arising from the use
of the Credit Card (whether by act or omission) by the Authorised User (including any use in
to time, subject to this Agreement, until the Card expiry date. Such authorization will be given to
breach of the terms of this Agreement which the Bank shall be under no duty to prevent) which
the Bank or to a Merchant. Where a Chip and PIN is used, a PIN must be used to authorise a
may be debited to the Credit Card Account. In addition to any of its other powers, the Bank may
transaction unless the transaction is executed electronically, e.g. telephone or internet, in which
cancel any Credit Card issued to an Authorised User at any time upon the written request of the
case other security details will be requested from the Cardholder to authorise the transaction.
Principal Cardholder and the return of such Credit Card to the Bank or upon the surrender to the
The Cardholder will nevertheless remain liable to pay the Bank all amounts debited to the Credit
Bank of such Credit Card by the Authorised User.
Card Account.
34. Notwithstanding anything to the contrary set out elsewhere in this Agreement, the Bank shall
6. Whenever the Credit Card is used in conjunction with an Automatic Banking Machine (ABM) it
have the right in its sole discretion at any time and from time to time to demand immediate
must be used only in accordance with the operating instructions and conditions of use in force
repayment of all monies due to it by the Principal Cardholder under the terms of this Agreement.
for the time being. In particular cash withdrawals must not exceed the permitted limit as notified
35. The Bank may vary this Agreement and/or these conditions at any time in its sole discretion by
by the Bank to the Cardholder.
giving the Cardholder notice of the change through announcements on the Bank’s website or
7. If a Merchant issues a refund voucher in respect of a Credit Card Transaction, the Bank will credit
otherwise by giving notice in accordance with Clause 19 and such amendment shall be binding
to the Credit Card Account the amount shown to be due when it receives the refund voucher or
upon all Cardholders on the Credit Card Account.
other similar refund verification acceptable to the Bank, unless such refund voucher or
36. The Principal Cardholder on the Credit Card Account can authorise via written instructions for the
verification is received by the Bank then (subject to any rights vested in the Principal cardholder
Bank to set up or cancel automatic payments to the Credit Card Account.
by statute) the amount will be payable in full to the Bank and no claim by a Cardholder against
a) The Principal Cardholder may terminate this Agreement for his Credit Card by written
the Merchant may be the subject of set-off or counter claim against the Bank.
notice to the Bank but such termination shall only be effective when all of the following
8. The Bank will not be liable in any way if the Credit Card is not honoured by a third party or for
have occurred:
any retention of a Credit Card by the Bank, any other financial institution, or any seller of goods
i. such request has been received by the Bank in writing.
or services.
ii. all Credit Cards issued to the Principal Cardholder and all Cardholders have been
9. No Credit card may be used after its expiry date.
returned to the Bank.
10. No Credit Card may be used as payment for any illegal Credit Card Transaction.
iii. there is no Debt owed to the Bank.
11. The Bank will provide the Cardholder with a Personal Identification Number (PIN) for the Credit b) The Bank may terminate this Agreement at any time without notice and thereupon cancel
Card. The Cardholder can change the PIN at any Bank branch or ABM of the Bank. or refuse to renew the Credit Cards issued to the Principal Cardholder and all Cardholders.
12. The liability is that of the Principal Cardholder. c) The Bank may also suspend the use of the Credit Card in the event of any breach of the
13. The Credit Card remains the property of the Bank at all times and must be returned by the terms of this Agreement by either the Principal Cardholder or any Cardholder.
Cardholder to the Bank, or any other person acting for the Bank, at the request of the Bank. d) Unless and until termination takes place as provided for in this Agreement, the Bank will
14. The Bank may at any time and without notice, cancel or suspend the right to use the Credit Card provide a new Credit Card for each Cardholder from time to time.
entirely or in respect of specific facilities or refuse to re-issue, renew or replace any Credit Card, e) These rights are in addition to any other rights or remedies which the Bank may have
without in any case affecting the Cardholder's obligations to the Bank which shall continue in whether to recover outstanding debts or otherwise and the Cardholder’s liabilities will
force. continue until such time as all amounts of whatever nature due to the Bank under this
15. The Cardholder will exercise all possible care to ensure the safety of the Credit Card and will Agreement (including, but not limited to, interest and other charges) have been paid in full.
prevent the PIN from becoming known to any person. The Cardholder will not disclose the Credit 37. All queries/disputes concerning any entry on a Cardholder's statement must be made in writing
Card number to any third party except for the purpose of a Credit Card Transaction or when by the Principal Cardholder within thirty (30) calendar days after the end of the relevant Billing
reporting the actual loss or theft of or damage to the Credit Card. period after which the Bank will not be obliged to consider any query. Where transactions under
16. If the Credit Card is lost, stolen, or for any other reason liable to misuse or if the PIN is disclosed dispute are done on a Co-Applicant's card, the transactions must be disputed in writing by the
in breach of the terms of this Agreement, the Cardholder must immediately notify the Bank's Call respective cardholder. Any and all disputes between a Cardholder and a Merchant in respect of
Centre, the Credit Card Centre, or any branch of the Bank. This notice, if given orally, must be any Credit Card Transaction shall be resolved by and between the Cardholder and the Merchant.
confirmed by the Cardholder, in writing or by fax to the Bank's Credit Card Centre as soon as In the case of such disputes, the Bank shall remain fully indemnified by the Cardholder in
possible or no later than fourteen (14) business days. respect of any and all claims arising therefrom whether by the Merchant or any third party.
17. The Cardholder will give to the Bank all the information in the Cardholder's possession as to the Notwithstanding any pending disputes, the Cardholder is required to continue making payments
circumstances of the loss, theft or misuse of the Credit Card or disclosure of the PlN and take all to the Account.
steps deemed necessary by the Bank to assist in the recovery of a missing Credit Card. In the 38. A Cardholder shall immediately notify their home branch in writing of any change of name or
event of any such loss, theft or misuse being suspected, the Bank may provide the Police or change in their residential address.
other pertinent authority with any information it considers relevant whether relative to the Credit 39. If any part of this Agreement is to be found invalid, the rest remains effective.
Card Account or otherwise. If a Credit Card is reported as lost, stolen or liable to misuse, that 40. The Credit Card shall be so designated by the Bank and its use will be at all times subject to any
Credit Card must not subsequently be used, but must be cut in half and returned immediately to statutory restrictions/regulations which may be imposed from time to time by the Central Bank
the Bank. of Trinidad & Tobago or any other governmental or regulatory authority. All Credit Card
18. The Bank shall not be liable if it is unable to perform its obligations due directly or indirectly to transactions completed in a currency other than the currency of the Credit Card Account will be
the failure of any machine, data processing system or transmission link or to industrial dispute converted and posted in the currency of the Credit Card Account. The International Provider(s)
or to any cause outside the control of the Bank, its agents, servants or sub-contractors. will convert to U.S. dollars any international charge or credit made to the Credit Card Account.
19. Any notice pertaining to the Credit Card Account shall be conveyed via post, facsimile message, The conversion will be pursuant to the specific International Provider’s regulations in effect. The
in branch promotions, statement inserts, media transmissions, electronic mail, etc., to the rate selected by the International Provider is determined from (a) a range of rates available from
Principal Cardholder only and shall be deemed received if delivered by post within 48 hours wholesale currency markets for the applicable central processing date and/or (b) Government
after the date of posting, and within 24 hours if sent by facsimile message or otherwise mandated rates in effect for the applicable central processing date. The International Provider(s)
electronically. may charge to the Bank, international service fees and currency conversion fees. Accordingly,
20. The Credit Card Line together with all charges made against the Credit Card Account, as the Bank may add a percentage mark-up to the exchange rate and/or apply a related
provided in this Agreement, must not be exceeded at any time without the Bank’s prior approval. international service fee to the Account, as may be determined by the Bank from time to time.
In the event that the established Credit Card Line is exceeded, a charge of 5% of the amount in The Bank will not assume any risk associated with foreign currency exchange gains or losses
from currency conversion resulting from the Cardholder’s use of the Credit Card. The Bank may
excess thereof subject to a minimum charge of US$12.00 will be payable to the Bank. Should
also apply a fee to the Credit Card Account, as may be determined by the Bank from time to time
the Credit Card Line be exceeded as at the Billing Statement date, a minimum charge of
for each Purchase or Cash Advance made outside of Trinidad & Tobago regardless of whether
US$12.00 will be levied and become payable to the Bank.
the Purchase or Cash Advance is made in foreign currency or Trinidad and Tobago dollars.
21. The Bank may vary the Credit Card Line at any time and from time to time. Such change shall 41. Where the Principal Cardholder maintains any other account(s) in his/her sole name with the
be advised to the Principal Cardholder on the Credit Card Account in accordance with the notice Bank, the Bank has the right at any time without notice to set off or transfer any sum outstanding
provisions in Clause 19 prior to the effective date of the change. to the credit of the Credit Card Account of the Principal Cardholder, in or towards satisfaction of
22. The Cardholder may at any time pay the entire amount outstanding on the Credit Card Account. the liabilities of the Principal Cardholder under this Agreement (whether or not the other
In any event, however, the minimum payment due shown on the Principal Cardholder's billing accounts are maintained in Trinidad and Tobago dollars or in any other currency. The charges
statement must be paid by its due date. applied to the Credit Card Account can be changed at any time by the Bank in its sole discretion).
23. The minimum payment to be made shall be the total amount due at the end of a Billing Period 42. The Cardholders acknowledge and agree that the Bank reserves the right to prevent the Credit
in respect of any one or more of the following: Card Account and / or the Credit Card from being used for certain types of Credit Card
a) 2.77% of the outstanding balance due on the Credit Card Account at the end of the Billing Transactions as determined by the Bank.
Period or US$20.00 whichever shall be the greater (or such other rate or amount as the 43. All account charges may be changed at any time by the Bank in its sole discretion.
Bank may in its sole discretion notify to the Cardholder from time to time); and/or 44. This Agreement shall be governed by the Laws of Trinidad and Tobago.

Rev. April 2019