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Republic Bank & Trust Company

Downtown

601 West Market Street
Louisville, KY, 40202

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Republic Bank & Trust Company Customer Reviews

sknifeman's Profile Image

Reviewed by sknifeman

Feb 4th 2013

Very good

Service is always friendly, knowledgeable, and quick.

Web site is excellent and easy to use.

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bryant's Profile Image

Reviewed by bryant

Sep 24th 2013

very poor

Franklin bank lost a very substantial check I deposited. It was cleared by other bank but republic bank has no records of this. Put on hold for over 15 mins. They reported they would call back but did not. Well over a weeks time. Now, they still claim they can't find check. They have no concern for the customer. Will be closing my account.

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Reviewed by WaryClient

May 27th 2014

Warning: Shoddy and Suspect Banking Practices for CDs

In April 2011, after shopping for a good national rate on a 3-year CD, we opened a jumbo CD with a bank in Tennessee. The APY was 2.15%.

Approximately 8 months later, Republic Bank acquired the Tennessee bank and changed the rate from a nationally competitive 2.15% to an abysmal .05% (for a 3-year CD). They claim to have sent out a notice of the rate change but all we received was a letter in June 2012, which five months after the acquisition, informing us of the change in the account no.

In February 2013 (2/20/2013), we received a notice from Republic stating that "we have attempted to reach you and provide you with important information regarding you deposit account(s); however, we haven't heard from you." The notice did not provide the important information and only instructed us to sign and return the form before 7/27/13 to certify the account. I did so on 2/27/13 via a scanned copy as an attachment to an email, requesting information about the account. We received an email reply later that day that simply said: "We have received your request. It has been sent for processing." Again, there was no information about any change in the APY.

Upon maturity, the bank not only made it cumbersome to close the account and get our proceeds but also and far more importantly only provided the proceeds at the abysmal rate, which was a difference of thousands of dollars.

When we contacted the bank, the general counsel informed us that all the bank had to do was send out a general notice, not to exhibit due diligence that we received it. As for the communications about the "important information," he again disclaimed any responsibility.

If he's correct that this practice is legally allowed, it is nevertheless obvious that the bank exploited the situation to make significant financial gains at the expense of its clients.

We advise you to avoid opening a CD or otherwise trusting this bank to exhibit client-friendly practices.

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