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PB 2024-002 Transaction fees in Curaçao compared to the region and the Netherlands

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Bank transaction fees in Curaçao compared to the region and the Netherlands

WILLEMSTAD/PHILIPSBURG – Transaction fees of local banks in Curaçao are among the lowest in the region. That is the outcome of a comparative analyses of bank transaction fees in Curaçao and Sint Maarten valid per 2022 conducted by the Centrale Bank van Curaçao en Sint Maarten (CBCS). In this analysis the transaction fees of local banks are compared with several countries in the region and the Netherlands. The countries included in the comparison are Aruba, Bahamas, Barbados, Belize, Jamaica, Sint Maarten and Trinidad & Tobago. The research was conducted in cooperation with all 7 local banks and 1 credit institution in Curaçao and was a follow-up on previous research by the CBCS titled ‘Households’ financial affairs in Curaçao 2020’. 81% of the respondents at that time agreed that there is a need to reduce the transaction fees, implying these fees are too high. In view of this, the CBCS committed itself to investigate the extent of this matter.

 

Last updated: 19.02.2024 17:02