While Republic Bank Guyana Limited (RBL) has still not made a public statement on its ongoing investigation of fraudulent activity on its Visa International Debit Cards, customers who have been affected by the activity say the bank is only making payments for transactions within the last three months.
Charles McGarrell, who told Stabroek News last week that he had lost millions in fraudulent transactions, explained that while the bank has accepted responsibility and committed to reimbursing any fraudulent transactions during the last three months, it has baulked at reimbursing the sums which predate that period.
“After the story was printed, I was invited to a meeting at the bank where I was asked to write a letter identifying the sums which I believe were fraudulently accessed. The officer who spoke to me was, however, very clear that based on Visa’s policy, they are only accepting responsibility for three months of transactions,” he explained, before adding that according to the officer, it is the responsibility of the customer to examine the statement, which is mailed every quarter.