Republic Bank Introduces Higher Fees — Effective From 1st May, 2026

Republic Bank Limited (RBL), the country’s largest commercial bank, has announced a sweeping round of increased fees across everyday banking services, effective from Friday (1st May, 2026).

The changes are set to affect both routine transactions and penalty charges, with higher costs for basic services as well as steeper fees for overdrafts, missed payments and insufficient funds.

Notable increases include higher charges for overdrafts and insufficient funds, with NSF (Not Sufficient Funds) fees rising from $34.50 to $57.50, overdraft fees increasing from $30 to $57.50, and some loan late-payment penalties doubling to as much as $100.

Meanwhile, debit transactions will also now attract per-transaction fees on several accounts that previously included a limited number of free withdrawals. The new fee structure introduces a $1.30 charge per debit transaction on selected accounts, marking a major shift for customers who once benefited from free electronic debits. 

Savings Plus account holders will face an even higher $4 per debit after exceeding limited free withdrawals. The changes form part of a broader adjustment affecting overdrafts, cheque services, drafts and loan penalties.

The full list of new and increased fees are as follows:

• Cheque books – regular personal: $25 – $35 (new option replaces previous $25 system).
• Cheque books – regular commercial: $100 (up from $40).
• Foreign currency drafts: $35 (up from $30.75).
• Official cheques/Manager’s cheques: $30 (up from $20).
• Not Sufficient Funds (NSF): $57.50 (up from $34.50).
• Overdrawn account fee: $57.50 (up from $30).
• Unit Trust Corporation cheques: $40 (up from $30).
• Late fee – personal demand loans: minimum $75 (up from $50).
• Late fee – personal ordinary loans: minimum $75 (up from $50).
• Late fee – commercial demand loans: minimum $100 (up from $50).
• Late fee – commercial ordinary loans: minimum $100 (up from $50).
• Debit transaction fee (Right Saver accounts): $1.30 per debit (previously included free electronic debits).
• Debit transaction fee (personal internet chequing): $1.30 per debit (previously included 12 free debits).
• Debit transaction fee (Savings Plus accounts): $4 per debit (previously limited free withdrawals per quarter).

There had been concerns that the country’s commercial banks would increase fees to pass on higher costs to customers following the announcement made by Minister of Finance, Davendranath Tancoo, in last year’s National Budget that a 0.25% levy on the assets of commercial banks and insurance companies operating in Trinidad and Tobago would be introduced.

The Minister said at the time, “Commercial banks and insurance companies, due to their large size, profitability and capitalization, have reported sustained earnings, high liquidity ratios and strong asset base growth. Conservative lending practices and favourable monetary conditions have driven these outcomes.”

He added, “Despite this, the average citizen continues to be subjected to unreasonably high fees and near-zero returns on their savings and investments. Against this backdrop, I proposed to introduce an Asset Levy of 0.25%, which is to be charged against the assets of commercial banks and insurance companies operating in Trinidad and Tobago.”

Tancoo said the measure was expected to contribute $575 million annually to this country’s revenue.

Republic Bank said the revised fees reflect adjustments across its service offerings, but the changes come amid ongoing public concern about the cost of banking and reduced returns on savings.

Republic Financial Holdings Limited (RFHL), the parent company of Republic Bank Limited (RBL), reported a profit attributable to equity holders of $2.2 billion for the year ended 30th September, 2025 — an increase of $196 million, or 9.8%, compared to the $2 billion recorded in 2024.

Fees and commissions accounted for 15.4% of total revenue, according to the group’s annual report.

For the three (3) months ended 31st December, 2025, the group recorded profit attributable to equity holders of $595.7 million — up $48.7 million, or 8.9%, from $547 million in the corresponding period a year earlier.

Total assets rose to $131.1 billion at the end of December 2025 — an increase of $7.5 billion, or 6%, compared with December 2024.

More on this as it becomes available. 

[Source: Trinidad Express]

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