Republic Bank is speaking out against the backlash being directed at PriceSmart following a recent bank processing issue.

Last weekend, persons took to social media to report deductions and refunds to their accounts.

This involved different merchants, however many persons said the refunds made under PriceSmart were less than the amount deducted, leading to public criticism.

Today, Republic Bank issued a statement saying the level of negative sentiment directed towards PriceSmart is regrettable since the matter was not of their making.

It also assured that the matter has been corrected, with steps taken to prevent a re-occurrence.

The statement also says, “During the period August 14 to September 6, 2023, credit card holders of our local banking network who used their cards at this group of merchants were impacted due to their card transactions inadvertently being processed as USD transactions instead of TT dollar transactions. In a media release provided on October 17, 2023, the Bank assured the public that this issue had been rectified and that it was working closely with the local banks to ensure that all legitimately affected customers are reimbursed.”

It is still not clear if all affected PriceSmart customers have received their full refund.

103.1FM News reached contacted the company today however we were directed to their website, where the statement from Republic Bank was posted.