The deposit guarantee has been modified to enhance protection, ensuring more account holders have security.
The Deposit Guarantee for the Caribbean Netherlands (DGS BES) was introduced in 2017. An evaluation showed that the existing system was insufficient for ensuring financial stability and consumer protection. Therefore, three significant changes were implemented.
Adjustments
The DGS BES has been altered as follows:
- The maximum coverage amount has been increased from USD 10,000 to USD 25,000, allowing more account holders to get their money back. This arrangement meets international IADI standards.
- The residency criterion has been removed; the DGS BES protects all account holders, regardless of residence.
- Banks must now contribute in advance to a fund that finances the deposit guarantee.
Deposit Guarantee
The Deposit Guarantee is implemented by De Nederlandsche Bank (DNB) and offers free protection for savings of up to USD 25,000.
In case of a bank failure, account holders receive up to USD 25,000 back from the fund. The protection is per person or company, per bank.
More Information
For questions regarding the deposit guarantee, you can find information at www.dnb.nl/caribisch-nederland or contact DNB.
Website: www.dnb.nl/caribisch-nederland
E-mail: info@dnb.nl
The Public Information Service is available Monday to Friday from 9:00 to 17:00 at +31 20 524 91 11.
