WILLEMSTAD – The Parliament of Curaçao has approved the Basic Payment Regulation Act, a law ensuring that every resident has the right to open a bank account. While lawmakers largely agreed on the importance of financial accessibility, the legislation passed by a narrow majority of eleven votes. The new regulation will officially take effect once it is published in the Curaçaosche Courant.
A key provision of the law is a monthly deposit limit of 3,000 guilders for basic accounts. This cap is designed to prevent financial crimes such as money laundering. During the parliamentary debate, it was clarified that the Central Bank of Curaçao and Sint Maarten—not commercial banks—set this limit, primarily to reduce risks for financial institutions. The cap is based on research indicating that over 80% of the population earns below this threshold per month.
The basic bank account will grant access to essential banking services, including transactions for rent and utility payments, but will not offer features such as credit cards. The law aims to enhance financial inclusion while maintaining safeguards against financial misconduct.
