Basic Bank Accounts in Sint Maarten: What the New National Ordinance Means

September 29, 2026

Living without a bank account is increasingly difficult. Salaries are paid digitally, bills are settled online, and many everyday transactions assume access to the payment system. To address this, the Government of Sint Maarten published the National Ordinance on Basic Bank Accounts (Landsverordening basisbetaalrekening) on April 10, 2026. By national decree (AB 2026/28), the National Ordinance will enter into force on October 1, 2026.

Purpose
The National Ordinance aims to strengthen financial inclusion. It ensures that consumers with a genuine connection to Sint Maarten who cannot obtain a regular bank account still have access to essential payment services.

What the account offers
The basic bank account is held in the consumer’s own name and provides core banking functions. These include cash deposits and withdrawals, payment transactions, a debit card or similar payment instrument, transfers and automatic payments, and digital account management.

Who can apply
The National Ordinance applies to consumers, meaning natural persons acting outside of any business or professional activity. Payment service providers that offer bank accounts to consumers must allow them to apply for a basic bank account in XCG, regardless of nationality or place of residence.

Applicants must have a “genuine interest” (In Dutch: ‘werkelijk belang’) in holding the account. The explanatory memorandum stresses that this requirement should not become an unnecessary obstacle. A genuine interest includes, among other things, living, working (including internships), or studying in Sint Maarten.

Built-in limitations
The basic bank account is a low-threshold inclusion measure, not a full-service banking product. The account may not have a negative balance, and transfers to accounts outside Sint Maarten and Curaçao are not permitted. Each consumer may hold only one such account, and it must be in their own name, so joint accounts are not possible. Payment service providers may also set monthly deposit limits, based on generally binding regulations issued by the Central Bank of Curaçao and Sint Maarten, to prevent misuse for money laundering or other illicit activities.

Simplified onboarding
Providers must carry out basic anti-money laundering and counter-terrorism financing screening, but not a full investigation into the applicant’s personal circumstances. According to the explanatory memorandum, employment status, income, credit history, and personal bankruptcy should not determine eligibility. Providers may still refuse or terminate a basic bank account in certain cases.

Financial inclusion
The National Ordinance reflects a broader move toward financial accessibility and modernization in Sint Maarten. Cash remains legal tender and important in daily life, but access to at least one bank account is becoming essential for full participation in the economy and society. As digitalization continues, financial inclusion is no longer a matter of convenience. It is a foundation for equal opportunity.

Questions about how the National Ordinance affects you or your organization? Contact our team.