Interbank FAQs

You are here:

You are here

Home / Commercial / Interbank FAQs

Transfers

How do I transfer funds between banks using RepublicOnline?

You can simply login to RepublicOnline > Select “Transactions” > “Funds Transfer” > “Third Party Account(s) – Other Bank” > Enter all requested information.
The recipient of the funds must first be added to your list of Third Party – Other Bank Payees using RepublicOnline, before any transfers/payments can be made.

What information do I need to transfer funds from the business’ deposit account to someone else’s at another bank?
To transfer funds to someone at another bank, you will need:
  • Payee’s Name
  • Account Number
  • Account Type (e.g. Savings or Chequing)
  • Bank Name
  • Location of the branch (for Scotiabank ONLY)
Can I transfer funds to a credit card account at another bank?

Currently, only transfers to savings/chequing accounts are possible using the Other Bank transfer feature.

Which local banks can I transfer to?

You can transfer funds to First Citizens Bank, Scotiabank, RBC Royal Bank, Citibank Trinidad, Bank of Baroda, JMMB and First Caribbean International Bank.

Can I transfer funds to commercial banks outside of Trinidad and Tobago?

Currently, transfers can only be done to commercial banks within Trinidad and Tobago.

Can I transfer funds to my Credit Union account?

Transfers can only be done to commercial banks within Trinidad and Tobago.

How much can I transfer to other local banks?

The minimum dollar value that can be transferred daily is $0.01.
The maximum dollar value that can be transferred is $499,000.00 daily.

What currencies can I transfer to other local banks? Can I interchange currencies? i.e. send TT dollars to US dollar accounts

At this time, only TT dollars can be transferred.

What does it cost to transfer funds to other banks?

Transfers done on our Corporate/Commercial RepublicOnline are subject to a fee of $1 which is debited from the business’ account upon initiating the transaction.

How does this differ from a wire transfer?

This feature can be completed via Internet Banking or Mobile Banking whereas wire transfers are completed at the Branch.

How soon after completing the transaction will my account be debited?

For transactions done before 12 noon, the funds will be debited from your account immediately.
For transactions done after 12 noon, the funds will be debited from your account on the next business day.

How soon can the recipient access funds from the transfer?

Transactions done before 12 noon will be credited to the recipient on the same business day.
Transactions done after 12 noon will be credited to the recipient on the next business day.
In the case of holidays, the transaction will be credited to the recipient on the next business day.

Where can I view a transaction that I conducted before 12 noon?

Simply log in to RepublicOnline > Select “Transactions” > “View Transactions” > “Online/Mobile Transactions” then choose “Pending Transactions” from the drop-down box. If the transaction was processed and funds sent to the recipient’s account, the transaction can be found in “Last 10 Transactions” or “Transaction History” tabs.

Where can I view a transaction that I conducted after 12 noon?

Simply log in to RepublicOnline > Select “Transactions” > “View Transactions” > “Online/Mobile Transactions” then choose “Scheduled Transactions” from the drop-down box

Can I reverse a payment that has already been processed?
For example, if I send a payment to an incorrect account or if it is no longer necessary.

Once the payment is processed, it cannot be reversed. Should you wish to report this transaction as an error, you can contact us at 623-4RBL (4725) and one of our service representatives will be happy to assist.

Can I cancel a pending interbank transfer?

Transfers that have been completed and listed as pending cannot be cancelled. Should you wish to report this transaction as an error, you can contact us at 623-4RBL (4725) and one of our service representatives will be happy to assist.

How do I request money from someone?

At this time, it is not possible to request money from someone via this feature.

How do I set up a future-dated or a recurring other bank transfer?

Simply log in to RepublicOnline > Select “Transactions” > “Funds Transfer” > “Select Third Party Account(s) – Other Bank” > Enter all mandatory information and ensure that the Recurring Date, Frequency Type, Frequency and Number of Installments are included.

How do I edit or stop recurring payments?

Simply log in to RepublicOnline > Select “Transactions” > “View Transactions” > “Recurring Transactions” > Enter search criteria details > Select the transfer to be edited or stopped. A confirmation message will be displayed when the action is completed.

If the business’ account has been debited but the recipient has not been credited, who can I contact?

You can contact our 24/7 Customer Service Centre at 623-4RBL (4725).

What do I do if I accidentally transfer money to an incorrect account?

It is important that you obtain the accurate account details for your recipient. Users shall be solely responsible for the accuracy of information provided for the purposes of availing of the facility. Please contact our 24/7 Customer Service Centre at 623-4RBL (4725) for further assistance.

What happens if I transfer money to an invalid* or closed account?

The transfer will be rejected by the recipient bank and the funds returned to your account within three (3) business days. Please contact our 24/7 Customer Service Centre at 623-4RBL (4725) for further assistance.
*Invalid accounts are account numbers that do not exist at the recipient bank. Please note, if the incorrect account number is entered and it is an existing/valid account, the funds will be sent to that incorrect account number.

Security

Can recipients see my account details?

Your account information does not leave the Bank and it is not required by the other bank to process your transfer request.

How do I know if this is safe and secure?

Republic Bank uses secure data transmission protocols that encrypt/protect your data from the time you begin your transaction to when it is delivered to the other bank. This process is automated, so no one manually handles your transaction.

How can I protect myself against malicious attacks/attempts of fraud?

Should you receive any suspicious requests to transfer funds or emails/text messages requesting your personal information, please follow the security tips located in the links below:
https://www.republictt.com/about/security-centre
https://www.republictt.com/about/how-we-protect-you
Should you happened to fall victim to any of the above circumstances, please feel free to contact us at 623-4RBL (4725).

Go to top