BSP Cook Islands has recently experienced a processing error involving Visa Card transactions originally conducted in Cook Islands late last year and early this year.

The processing issue affected cardholders who transacted with our merchant customers and who may have noticed some transactions duplicated or debited late to their account.

We have now corrected this processing issue and the amounts debited to cardholders are now fully in order.

We appreciate that these issues may have caused concern among our merchants and cardholders affected and BSP apologises for any inconvenience this has caused.

The details of the issue are.

• Card transactions conducted in Cook Islands between 13-16 November, and originally posted to cardholder accounts by BSP on 17 November, were reprocessed on 29 January. We quickly identified the issue and all cardholders affected had the duplicated transactions reversed on Monday, 2 February and their accounts are in order.
• Card transactions presented on 28 November, 7 January and 14 January were processed late to cardholder accounts on 29 January. Additional transactions presented 22 and 25 December were processed to cardholder accounts on 3 February. Please note, these transactions were posted late for cardholders, they were not duplicated.
• Credits to merchant accounts were unaffected.

No action is required by our merchants or by cardholders.

The amounts credited to merchant and cardholder account are now correct and all the processing issues affecting cardholders have been addressed by BSP.

We are taking action to ensure there is no repeat of these issues.

Thank you for continuing to bank with BSP, we apologise for any concern this issue may have caused.