Payroll and Supplier Payment Update

Dear Valued Customer,
We are pleased to advise that Republic Bank (Grenada) Limited is in the process of migrating the banking systems at its Republic House, Melville Street, Grenville, Gouyave, Sauteurs and Carriacou branches to the Republic Financial Holdings Limited (RFHL)'s suite of technology platforms.

The process, which started earlier this year, will include a change in customers’ account numbers and branch transit numbers. The newly formatted 12-digit customer account numbers will be activated on November 1, 2022.

We have encouraged all our customers to inform remitters (including their employers) of their new account details well in advance of the “Go Live” date November 1, 2022, to avoid any delay in payment or processing of transactions.

To guarantee a smooth transition we are prepared to work with your organisation and ask that you kindly take note of the following:

1. Upon conversion, beneficiaries with the new 12-digit accounts must be re-registered on RepublicOnline as Republic Bank third party beneficiaries.

2. We will work with your organisation to ensure your payroll/direct credit file contains the updated bank account numbers for processing transactions on the corporate online banking platform.

We invite you to assign a liaison who can provide us with your payroll/direct credit file which we will update. Kindly send your payroll/direct credit file with the listing of payees to your Account/ Relationship Manager by September 30, 2022, to allow for verification.

For the purpose of processing payroll and supplier payments, it is essential that upon conversion, you update the relevant records in your .csv files to reflect the new Internet Banking routing number for all branches of Republic Bank (Grenada) Limited to 99999035000. This will ensure the Electronic Funds Transfer (EFT) via RepublicOnline is processed successfully.

As we near the ‘Go Live’ date, we are committed to working with all our stakeholders to help you prepare for the impending change. Thank you for your support and understanding as we work towards a smooth transition. Please contact your Client Relationship Manager should you have any questions.

Yours sincerely,

Naomi E. De Allie (Mrs.)
Managing Director
Republic Bank (Grenada) Limited