Central Bank publishes St. Maarten instant payment fees, revealing wide differences between banks

GREAT BAY--The Centrale Bank van Curaçao en St. Maarten (CBCS) has published an overview of the fees financial institutions charge customers for instant payments, giving consumers and businesses a clearer picture of what it costs to transfer money between participating banks.

The figures show considerable differences among banks operating in St. Maarten. For online instant transfers, Republic Bank St. Maarten is listed as charging no fee, while ORCO Bank charges XCG 0.50 or US$0.30. Windward Islands Bank charges XCG 1.05, while Banco di Caribe St. Maarten charges XCG 1.06 or US$0.59.

RBC Royal Bank has the highest listed online instant payment fee among the participating St. Maarten institutions, at XCG 6.27 or US$3.50 per transfer.

The differences are even more pronounced when transactions are carried out at a physical branch. Banco di Caribe lists an in-branch transfer fee of XCG 15 or US$8.38, while Windward Islands Bank lists an in-branch fee of XCG 10.60. Not every institution provided rates for every transaction category.

The CBCS said the publication is intended to provide greater transparency and allow consumers and businesses to compare what different financial institutions charge for use of the instant payment system.

Instant payments were introduced by the CBCS in January 2022 through its Instant Payments Clearing and Settlement Mechanism. The system allows customers of participating financial institutions to transfer funds between accounts within seconds, 24 hours a day, seven days a week, including weekends and public holidays.

The Central Bank itself charges participating financial institutions XCG 0.35, or US$0.20, for an instant transfer processed through its infrastructure. Effective January 1, 2026, the CBCS reduced that charge by 30 percent after growth in the number of instant payment transactions allowed it to recover the operational costs of the infrastructure and pass savings on to participating institutions.

This means the fee ultimately charged to a customer is determined by the individual financial institution and can be significantly higher than the amount charged by the Central Bank for processing the transaction.

For St. Maarten, the CBCS lists the online transfer fees as follows: Republic Bank, no charge; ORCO Bank, XCG 0.50 or US$0.30; Windward Islands Bank, XCG 1.05; Banco di Caribe, XCG 1.06 or US$0.59; and RBC Royal Bank, XCG 6.27 or US$3.50.

The Central Bank also published fees for recall requests, which are requests to recover funds sent to an account erroneously or transferred by mistake. ORCO Bank St. Maarten lists a recall fee of XCG 10.50 or US$5.90, Banco di Caribe lists XCG 10.60 with no U.S. dollar rate provided, while RBC lists XCG 54 or US$30. Republic Bank and Windward Islands Bank did not provide a recall fee in the CBCS overview.

The fees do not apply to transfers between accounts held at the same bank. Transactions valued at XCG 1 million or more are also not processed through the instant payment infrastructure.

The customer fee information published by the CBCS reflects rates provided by participating institutions or available on their websites as of September 10, 2026. The Central Bank said customers should confirm applicable charges directly with their financial institution.

According to the CBCS, publishing the information alongside its own transaction charges is intended to increase transparency and support a payment system that is more efficient, accessible and competitive for consumers and businesses in St. Maarten and Curaçao.

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