The Bankers’ Association of T&T has issued a statement regarding recent instances of deductions and reimbursements to bank card accounts.

In a brief statement, BATT says the reversal was due to a processing issue, which would have impacted many of the banks.

It adds that there were reports from customers at select merchants.

The Association goes on to assure that this was not due to any type of fraudulent or cyber-crime activity against customers and that their banking information remains secure.

The statement goes on to say, “Our member banks are urgently working to have the matter resolved and legitimate queries are being investigated. Each member bank will address the matter with their impacted customers to have it remediated in the shortest possible time frame.”

Over the weekend, customers took to social media to report the issue.

Several cited charges from PriceSmart, but pointed out that they were reimbursed less than the amount deducted.

In a statement issued today, PriceSmart explained that the difference was due to foreign exchange rate fluctuation.

It assured however that “any Member who has a discrepancy on their account resulting in an overcharge will be reimbursed for the difference in charges.”