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Central Bank probes Republic Bank fee increases in Trinidad
Central Bank probes Republic Bank fee increases in Trinidad
By Aurax Desk | May 06, 2026 | 2 min read
Regulators are reviewing new banking charges introduced at the start of May. The move follows concern over rising costs for everyday transactions.
The Central Bank of Trinidad and Tobago is examining fee increases introduced by Republic Bank Limited after customers raised concerns about higher costs for routine banking services.
The revised fees, effective May 1, include a charge of about TT$1.30 per debit transaction after a limited number of free transactions on some accounts. Monthly account maintenance fees range roughly from TT$10 to TT$20 depending on account type, while ATM withdrawals cost about TT$0.75 at the bank’s machines and about TT$4.00 at other banks’ machines. Additional charges apply for teller-assisted transactions and excess withdrawals on savings accounts.
The Central Bank is reviewing the impact of new banking charges.
Former Finance Minister Colm Imbert said the increases are linked to a government asset tax on banks, suggesting institutions may be adjusting to higher fiscal costs.
The Central Bank said it is engaging commercial banks to determine whether the changes are justified and to assess their impact on consumers, particularly amid ongoing cost-of-living pressures.
Republic Bank said the revised fees are part of periodic pricing reviews. The regulator has not given a timeline for completing its assessment.
Source: Trinidad Express, Trinidad and Tobago Guardian, and Republic Bank official fee schedule.
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