04/05/2026
The San Juan Business Association (SJBA) expresses concern regarding the recent fee adjustments implemented by Republic Bank Limited, effective May 1, 2026.
These changes include notable increases in charges for commercial cheque books, manager’s/official cheques, NSF and overdrawn account fees, loan late fees, and the introduction of per-debit transaction charges on certain accounts. At a time when many small and medium-sized enterprises (SMEs) are navigating elevated operating costs, reduced consumer spending, and broader economic pressures, these adjustments add further strain to day-to-day business operations.
SJBA members rely heavily on essential banking services to facilitate payroll, supplier payments, customer transactions, and working capital management. As such, increased banking fees directly impact the cost structure of businesses and may result in difficult decisions, including passing on costs to consumers or absorbing them within already constrained margins.
While the Association recognizes that financial institutions face their own operational, regulatory, and security-related expenses, the timing and scale of these changes warrant careful consideration, particularly in relation to their effect on the real economy.
The SJBA encourages Republic Bank to engage constructively with the business community, consider supportive measures for SMEs; such as tiered fee structures or targeted concessions; and provide greater transparency around the rationale for these adjustments.
The Association also encourages businesses to review their banking arrangements and assess available options to manage and mitigate rising financial service costs.
The SJBA remains committed to advocating for a fair, competitive, and sustainable business environment and welcomes continued dialogue with financial institutions and other stakeholders to support economic growth.