De Nederlandsche Bank (DNB) promotes the smooth functioning of the payment system in the Caribbean Netherlands. For example, together with the US central bank and the banks in the Caribbean Netherlands, we manage the circulation of US dollar notes and coins.
In addition, we consult regularly with the banking association and social partners in the Caribbean Netherlands Payment System Working Group. We maintain contacts with the commercial banks in the Caribbean Netherlands and the central banks in the larger Caribbean. This is how we try to improve developments in the payment system.
The links below will refer you to more information about the payment system in the Caribbean Netherlands.
Frequently asked questions on cash and payment systems
Since 1 January 2011 the legal tender in the Caribbean Netherlands is the US dollar, The Netherlands Antilles guilder was then abolished in favour or the US dollar. The islands' wishes were leading in the selection of a new currency, We have mainly looked at the impact on tourism and trade.
For example, the majority of tourists visiting the islands come from countries using the US dollar. Moreover, most of the islands' foreign trade is with countries using the US dollar or a currency pegged to it. Also, most other countries and overseas territories in the Caribbean use the US dollar or a currency pegged to it as their legal tender.
There are seven different dollar notes: $1, $2, $5, $10, $20, $50 and $100. All of them bear a portrait of former presidents, ministers or diplomats of the United States. They have qualified as legal tender in the Caribbean Netherlands since 1 January 2011. For more information, see the website of the United States Mint.
Damaged banknotes are not necessarily worthless. Provided the damage is not caused intentionally and at least 50% of the banknote is preserved, you can claim reimbursement for a damaged banknote. For more information, see the website of the U.S. Bureau of Engraving and Printing.
There are five dollar coins you are likely to encounter in everyday payments: 1 cent, 5 cents (nickel), 10 cents (dime), 25 cents (quarter) and 1 dollar. The half-dollar coin also qualifies as legal tender, but it is hardly ever used. For more information, see the website of the United States Mint. Coins with a nominal value exceeding $1 do not qualify as legal tender in the Caribbean Netherlands.