Republic Bank’s COVID-19 updates

Covid19

This is where we will provide regular updates on what we are doing to help support and keep you safe during this pandemic.

 

At Republic Bank your health and well-being, and that of our staff and communities, are always our main priority. In light of the current COVID-19 pandemic, we assure you that we remain committed to providing the banking services you need in the safest environments possible.

Following the guidelines outlined by the Ministry of Public Health and the World Health Organization, we have increased the sanitization of all high-traffic touch points at our branches.

As we each do our part in limiting the spread of the Covid-19 virus and in line with the urgings of the authorities around social distancing we request that customers consider minimizing their visits to the bank’s branches where possible by:

  • Utilizing the Bank’s digital and electronic channels
    • RepublicOnline
    • RepublicMobile
    • ATMs
  • Using your debit and credit cards at Point-of-Sale terminals instead of cash
  • Avoiding banking halls if you have flu-like symptoms, contact us at 223-7938 to 49 or your nearest Branch to find out how we may facilitate your banking needs via telephone
  • Postponing transactions if not critical

We encourage you to continue to observe the recommended hygienic practices to help prevent the spread of the virus; and to be mindful of those who may be more vulnerable around you. By observing these practices, you can help protect yourself, your family and your community.

Thank you for your understanding.

Sincerely,
Amral Khan
Managing Director

In response to the anticipated impact as a result of the COVID-19 pandemic, Republic Bank recognizes that we have a collective responsibility to ensure the sustainability of the business community, our employees, customers and ultimately the nation.

In this regard, we seek to bolster support to our valued customers by introducing the following measures effective March 23, 2020.

These measures will be for a period of six (6) months initially. Continuance will be reviewed thereafter.

Interest rate adjustment
  • Reduction in overdraft interest rate
Retail and Mortgage Customers:
  • Moratorium on personal and mortgage loans for up to 6 months, will be available upon request.
  • Debt restructuring will be considered on a case by case basis/
  • Temporary increase of overdraft and credit card limits on a case by case basis.
  • Automatic waivers for the next 6 months on:
    • Credit Card – late fees and over limit fees effective March 23, 2020
    • Late fees on loan payments
    • Penalties for early withdrawal of Certificates of Deposit
    • Disposable commercial depository wallet fee
SME, Commercial and Corporate customers
  • Moratorium on loans for up to 6 months, will be available upon request
  • Debt restructuring will be considered on a case by case basis.
  • Temporary increase of overdraft and credit card limits on a case by case basis.
  • Automatic waivers:
    • Credit Card – late fees and over limit fees effective March 23, 2020
    • Late fees on loan repayments
    • Penalties for early withdrawal of Certificates of Deposit
    • Disposable commercial depository wallet fee

To be eligible for the Moratorium and Automatic Waivers, customers must be in good standing with the Bank.

All non-cash services including requests for moratoriums and debt restructuring can be initiated via email to gyemail@rfhl.com. Customers should include the branch at which their account is held, in the Subject of the email. Please note that Republic Bank will NOT send customers email requesting that they respond sharing any confidential banking information.

As we all do our part in limiting the spread of the Covid-19 pandemic and in line with the urgings of the authorities around social distancing, the Bank requests that customers consider minimizing their visits to the branches where possible by:

  • Utilizing the Bank’s digital and electronic channels
    • RepublicOnline
    • RepublicMobile
    • ATMs
  • Using your debit and credit cards at Point-of-Sale terminals instead of cash
  • Avoiding banking halls if you have flu-like symptoms and instead contact us at 223-7938 to 49 or your Branch to enquire how we may facilitate your banking needs otherwise
  • Postponing transactions if not urgent

Republic Bank wishes to urge customers to continue observing the recommended hygienic practices to help prevent the spread of the virus and be mindful of those who may be more vulnerable around you. By observing these practices, together we can help protect ourselves, our families and communities.

Effective March 25, 2020 Republic Bank (Guyana) Limited will be implementing several changes to its branch operations to safeguard the wellbeing of its customers and employees amid ongoing COVID-19 concerns. These changes are as follows:
  1. Additional Safety Measures
    Social Distancing
    To ensure customers are afforded a safe environment in which to conduct business, the following measures will be implemented:
    1. The number of customers allowed in branches at any one time will be restricted based on the size of the banking hall, in order to maintain social distancing.
    2. All non-cash services (including requests for moratoriums and debt restructuring) can be initiated via email at gyemail@rfhl.com. Customers should include the branch at which their account is held in the Subject of the email. Please note that Republic Bank will NOT send customers email requesting that they respond sharing any confidential banking information.

  2. Adjustment to services offered
    1. There will be a reduction to in-branch services offered. Customers are invited to check with their branch before visiting, but preferably to make use of our electronic channels for all non-cash transactions.
    2. All branches and departments remain accessible by telephone.
    3. ATM and Commercial Depository services at all branches will continue to be provided. Disposable Commercial Depository Wallets will be provided to customers free of charge.
    4. All offsite ATMs will continue to be available.

  3. Enhanced sanitization efforts To ensure a safe environment for customers and employees we continue with our program of daily cleaning and sanitization of all locations.

Republic Financial Holdings Ltd. (RFHL) Supports Fight Against COVID-19

Georgetown, Guyana, Tuesday, April 1, 2020: Republic Financial Holdings Limited has announced that the Group will be making a contribution of the equivalent of US$2 million collectively across all territories in which it operates, namely, Trinidad and Tobago, Grenada, Guyana, Barbados, Ghana, Suriname, Cayman Islands, St. Lucia, St. Vincent & the Grenadines, St. Kitts & Nevis, St. Maarten, Anguilla and Dominica.

In making the announcement, President & CEO of the Group Nigel Baptiste, stated that “The full extent of the human tragedy that is unfolding before our eyes is epochal. While the Group is committed to helping our customers survive the economic impact, there is so much more that is needed to be done at the society level. No country is immune from this virus and given our preference for open economies, we all must be interested in what happens elsewhere. Management of this virus requires global collective responsibility.”

The pledge of the equivalent of US$2 million across all its territories, falls under the Bank’s Power to Make a Difference programme, and is being specifically targeted to address some of the key immediate requirements in the fight against COVID-19. The funding is targeted to assist with the purchase and provision of critical needs such as ventilators, PP equipment, testing kits, food and supplies for the health care workers as well as supporting the all-important social distancing messages.

Members of the Republic Group have already taken numerous steps to safeguard the wellbeing of their customers and staff, while ensuring the provision of essential banking services. The Group has also reached out to its customers to provide cash flow relief to those affected by the disruption brought about by the COVID-19 pandemic.

Of this total, an amount of G$31,500,000 is earmarked for Guyana. Amral Khan, Managing Director of Republic Bank (Guyana) Limited remarked that “this pandemic comes at a very challenging time for the people of Guyana and its economy. Given that much needs to be done, we are optimistic that our contribution will have a positive impact, thereby minimising the number of cases in Guyana and inspiring others in the corporate community to make similar generous contributions to support this fight for life".

The Group recognises the dynamic nature of the situation and remains committed to a continuous assessment of its actions and responses to ensure that the best interests of its staff, customers and communities are served.

#StayHomeStaySafe
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