Announcement exchange procedure ANG to XCG

As part of the introduction of the Caribbean guilder (XCG) on March 31, 2025, and the associated exchange of cash from Netherlands Antillean guilders (ANG) to Caribbean guilders, the Centrale Bank van Curaçao en Sint Maarten (CBCS) hereby publishes its exchange procedures:

1. The CBCS will adhere to the applicable rules for combating money laundering and financing of terrorism (AML/CFT/CFP) during the exchange process.
2. Individuals and legal entities with a bank account at commercial banks are required to exchange their ANG at their commercial bank. This can be done during the period from March 31, 2025, to March 31, 2026. After this period, exchanging ANG for XCG will only be possible at the CBCS, with the final exchange deadline set for March 31, 2055. Keep in mind that commercial banks are expected to primarily encourage deposits into bank accounts.
3. Individuals and legal entities without a bank account and/or those wishing to exchange damaged banknotes and coins can visit the CBCS starting March 31, 2025, for amounts up to ANG 2,500, without an appointment, as a one-time transaction.
4. For exchanging amounts exceeding ANG 2,500, an online appointment must be requested, and a Source of Funds (SOF) form must be completed in advance. The website for submitting exchange requests online will be announced at a later date. The CBCS will confirm the appointment via the email address provided by the individual or entity.
5. On the day of the appointment, the CBCS will exchange the money unless a criminal offence is suspected. The CBCS will investigate based on the documents submitted. If this investigation raises questions that cannot be (satisfactorily) answered by the individual or legal entity and a suspicion of criminal offence remains, the money offered for exchange will be held in custody in accordance with Article 6, paragraph 6 of the Bank Statute.
6. When money is held in custody, the individual or entity will receive a reasoned decision from the CBCS. An objection to this decision can be filed with the CBCS’s LAR Advisory Committee, or an administrative appeal can be lodged with the Court in First Instance. When money is held in custody, the CBCS will notify the FIU and the Public Prosecutor's Office. The outcome of the investigations by these institutions and/or the decision of the LAR Advisory Committee or the court will determine whether and when the money held in custody will be exchanged.
7. The exchange of money will be done in cash. The CBCS will not transfer the exchanged amount to a
   bank account.