The Caribbean
Guilder (XCG)

What will the exchange rate of the Caribbean Guilder (XCG) to the U.S. dollar be?

• Like the NAf., the XCG will be pegged to the US dollar at an exchange rate of US$1 = 1.79 XCG.

What are the denominations of the Caribbean Guilder (XCG)?

• Coins: 5 Guilder, 1 Guilder, 50 cents, 25 cents, 10 cents, 5 cents and 1 cent;
• Banknotes: 200 Guilders, 100 Guilders, 50 Guilders, 20 Guilders and 10 Guilders;

Note: The NAf. 250-Guilder banknote will be replaced by the 200 XCG note, and the NAf. 25-Guilder banknote by the 20 XCG banknote.

What is the currency symbol of the Caribbean Guilder?

• The currency symbol that Maduro & Curiel’s Bank will use is XCG. (For context, the Netherlands-Antillean Guilder uses NAf. as symbol and ANG as currency code.)

How will the visually impaired recognize the different denominations?

The XCG banknotes include several recognizable features:

• Tactile marks: High relief printing on the left and right edges of the frontside of the banknotes. The number of lines indicates the denomination.
• Large numbers: Prominently displayed large numerals with raised ink help clearly show the value.
• Bright colors: Each banknote features a distinct dominant color.

Visit the Central Bank website for detailed information.

Who holds the copyright to the designs of the Caribbean Guilder?

• The designs are copyrighted by the Centrale Bank van Curaçao en Sint Maarten. Visit the Central Bank website for detailed information.

When will the Caribbean guilder be introduced?

• The Caribbean guilder (XCG) will enter circulation on April 1^st, 2025.

What is the exchange rate between the Netherlands-Antillean Guilder and the Caribbean Guilder?

• The exchange rate is 1:1. They are of equal value.

How long will both currencies be in circulation simultaneously?

• The Netherlands-Antillean Guilder (NAf.) and Caribbean Guilder (XCG) will co-circulate for 3 months from April 1^st, 2025, until June 30, 2025.

How long after the introduction of XCG can NAf. still be used for payments?

• Cash payments in NAf. will be accepted for up to 3 months after introduction (until June 30, 2025), with change given primarily in XCG.

Where can I exchange my NAf for XCG, and for how long?

• At the local Bank where you hold an account: up to 12 months after the introduction of the Caribbean Guilder; that is until March 31, 2026.
• At MCB the NAf. is deposited on the customer’s account; after which the customer can do a withdrawal for the same or desired amount in XCG in the Branch or at any Bankomatiko/ATM. Please note: All the applicable withdrawal fees will apply. All exchanges are subject to the relevant Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations.
• At the Central Bank (CBCS): for up to 29 years after introduction until March 31, 2055.

If I have NAF in cash, how can I exchange it?

• To exchange NAf. Bank Notes (bills): Preferably via deposit into your account at one of our Bankomatiko/ATMs or you can choose to deposit at the teller in our Branches. Please note that the applicable deposit fees will apply.

  To exchange NAf. Coins: At the branch teller. Please note that the applicable deposit fees will apply. (Important: Please note that coins can not be deposited at any Bankomatiko/ATM.

  Note: The funds will be deposited in your MCB Account and hereafter the client can withdraw the respective amount in XCG. Please note that the applicable deposit and withdrawal fees will apply. Non-MCB customers must exchange at their bank branch or at CBCS.

Why do I need to deposit bank notes (bills) instead of exchanging directly in branches?

• To ensure that all incoming NAf. are properly accounted for.
• To comply with our Bank internal procedures related to AML/ATF.

Will my account number change?

• No, your account number will remain the same. Only the product name will change from NAf. account to XCG account. No customer action is required.

What will change on my account?

• Your balance will be displayed in XCG instead of NAf.

In what currency will my transactions be reported?

• Transactions made before March 31, 2025, will be reported in NAf.
• Transactions from April 1, 2025, will be reported in XCG. Statements as per the end of April 2025 will reflect amounts in XCG.

Will Online Banking be unavailable during the transition?

• Yes, there will be maintenance during the night of March 31 into April 1, 2025. The respective information will be duly conveyed via our social media pages.

From what date can I make payments and transfers in XCG?

• As of April 1, 2025.

What happens to my NAf. standing orders and scheduled payments?

• All NAf. standing orders and scheduled payments will automatically be converted to XCG by the bank. No customer action is required.

What happens to my USD standing orders?

• USD-to-USD standing orders: No change
• USD-to-NAf. or NAf.-to-USD standing orders: The NAf. portion will automatically be converted to XCG. No action is required by the customer.

Will my payment templates on my accounts and in MCB Online/Mobile Banking change?

• If your template contains NAf. debit accounts or an amount in NAf., it will automatically be converted to XCG. No customer action is required.

What will happen to my NAf. loan(s)?

• The currency of your NAf. loan(s) will be converted automatically to XCG. No customer action is required.

Will MCB fees change?

• No. Fees remain unchanged with the conversion to XCG and will continue to be charged in XCG.

What changes will be noticed when using Bankomatiko/ATMs after the XCG introduction?

• ATMs will no longer dispense Naf 25,- but XCG 20,- . The predefined withdrawal denominations will be XCG 100 and XCG 20. As is the case now Bankomatiko/ATM will keep the options to withdraw euros and US$.

Can I deposit both NAf. and XCG at Bankomatiko/ATMs?

• Yes. Client can select XCG/NAf. as the currency and can deposit the total amount (maximum of 50 bills) in the envelop (of either or both currencies NAf. and XCG) . The option to deposit NAf. at our Bankomatiko/ATMs will be available until March 31, 2026. After this date, currency conversions (from NAf. to XCG) must be made at the Central Bank (CBCS). There are no charges for deposits at our Bankomatiko/ATMs.

What happens if a client deposits more than NAf/XCG 5,000.= at a Bankomatiko/ATM?

• Amounts deposited exceeding NAf./XCG 5,000.= will be held at the branch, the customer will be contacted.

Can I deposit Naf. coins at the Bankomatiko/ATM?

• Absolutely not! NAf. coins can be deposited at our Bank until March 31, 2026 or at the CBCS until March 31, 2055.

Can corporate (Business Banking) customers make deposits in both NAf. and XCG at our 24/7 Deposit Service?

• Yes, corporate (Business) customers can deposit both currencies adn must use separate deposit slips for each currency: one slip for ANG and another for XCG, indicating the total amount per currency. This ensures smoother processing of the deposits.

  Note: New XCG cash deposit slips will be distributed to corporate customers and will also be available in our Branches as of the week of March 25, 2025. NAf. deposits at our 24/7 Deposit boxes will be accepted until March 31, 2026.

What is the maximum amount that I can deposit at a Bankomatiko/ATM?

• The maximum amount that can be deposited at our Bankomatiko/ATMs has not changed and remains NAf. 5,000.= which is equivalent to XCG 5,000.=. The maximum number of bills (coins are not accepted) that can be deposited at a Bankomatiko/ATM remains 50 bills per deposit and the maximum amount of XCG 5,000.=.

Will there be any changes when using my debit card or credit card?

• No, your debit card will continue to function as usual, and the currency will change to XCG as of April 1, 2025.

Will my Kompa Leon card change?

• No, your Kompa Leon card remains the same. After April 1, 2025, the currency will change to XCG. After April 1, 2025 payments in stores will be processed in XCG.

When will POS terminals process transactions in XCG?

• All POS terminals will automatically process transactions in XCG during the first week of April 2025.

Can merchants update their POS machine manually in case they missed the automatic update on april 1, 2025?

• Yes, in cases where the merchant’s POS terminal hasn’t automatically upgraded, the merchant can do this manually. All MCB Merchants will be provided with instructions to update their POS terminals to show XCG. These instructions will also be placed on our social media pages. If assistance is needed, merchant support will be available to help with the process through our email: merchant@mcb-bank.com or at phone: 466-0788.