Wednesday, 22 May 2013

Informative bulletin

in connection with dollarization

We are fast approaching January 1, 2011

As you already are aware, on this date, and as a result of the structural changes after 10-10-10, the official currency of Bonaire will be the US dollar (USD).
The NAF currency will not be used in Bonaire anymore and in the future it will even stop to exist.
Our customers can remain at ease, because your Friendly Bank is doing its utmost to guarantee a smooth transition and to avoid inconveniences.
In light of this, Your Friendly Bank has started an informative campaign for its clients, sharing available information to keep our customers duly informed.

  • January 1, 2011 is the date on which the USD will be the official currency of Bonaire.
  • The exchange rate that will be used is 1.79.
  • The balance on customers accounts will automatically be converted to USD.
  • The account number of the customer will remain the same.
  • Loans will also be automatically converted to USD.
  • Standard orders in the system will be automatically converted to USD.
  • The Kompa Leon NAF credit card will remain active for the time being while the NAF American Express credit card will be discontinued.
  • NAF cash can be exchanged to USD until January 31, 2011, without charges.
  • After this date the exchange from NAF to USD remains possible, but there will be a charge involved.
  • All cheques issued in NAF currency are valid for 6 months. If the cheque is being deposited in 2011, within the 6 month period, the amount will be paid out in the equivalent in USD.
  • All legal documents that have been signed prior to January 1, 2011, will remain valid and in force. Only the amount involved will be converted automatically to the equivalent in USD. This has been stipulated by law.
  • Customers that travel to Curacao or Sint Maarten can buy NAF currency at the bank against an exchange rate that still needs to be stipulated.
  • Customers that travel to Curacao or Sint Maarten can withdraw USD and NAF currency at the ATM’s in these countries.
  • For time being the NAF currency will remain existent in Curacao and Sint Maarten. According to information received this currency will be replaced by the Caribbean Guilder in the future

Valuable tips:

  • It is recommended to deposit all your NAF cash currency into your account prior to December 31, 2010, so the balance will be converted automatically on January 1, 2011. Please do so during coming months and not wait until the last day.
  • Try to make use of our online banking products (MCB-Direct or MCB@Home) as much as possible. With these features you can accomplish most of your banking transactions without having to come to the bank.
  • If you are already using one of these online banking features please be informed that all standard orders that you have inserted in your system will expire by end of December 2010.
  • During January 2011 you will need to re-insert these standard orders for the amount equivalent in USD.
  • If you are using a cheque book please use all cheques prior to December 31, 2010. After October 10, 2010 the government stamp on unused cheques will not be reimbursed.


Start ordering your USD checkbooks
USD Checkbook Order Form

en konekshon ku dolarisashon (pap)

Informatie De Nederlandsche Bank
Informatie omtrent dollarisatie

INFORMATION ABOUT DOLLARIZATION


Banking Hours
On December 24, 2010, MCB Bonaire offices will be open from 8 AM to 12 PM. In the afternoon all our offices will be closed for the public. On December 31, 2010 all our offices will be closed the.whole day.

Important Announcement: In connection with the conversion, all our electronic systems, such as ATMs, card payment terminals (Maestro, credit cards etc) as well as our internet banking systems MCB@Home and MCBDirect will be down, i.e. not operational starting January 1, 2011 from 12 o’clock midnight until 6 o’clock AM.

ATMs
As of December 31, 2010 all MCB Bonaire ATMs will carry US dollars. The ATMs will be able to supply customers with $ 10, $ 20, $ 50 and $ 100 bills.
Only the ATM at the Flamingo Airport will issue $10, $ 20, $ 50, and Euro 20 bills. Customers who need to withdraw Antillean Guilders are kindly advised to do so before December 31, 2010.

Please keep in mind that on January 1, 2011 all ATMs will be closed from 12 o’clock midnight until 6 AM.

Checkbooks
Customers who use checkbooks may order their USD checkbook as of now. You can send us your order via fax number 717-8584, via MCB@Home or MCBDirect, via email to checkbook@mcbbonaire.com or drop in at any of our Branches. Your new checkbook will be available approximately one week after the Bank receives your request.

Very important: For those accounts that are in NAF until December 31, 2011, the USD checks will not be valid prior to January 1, 2011, therefore we advise you to refrain from writing out these USD checks before then.

At this moment our checkbook producing systems have already been adjusted, reason why unfortunately it is not possible anymore for MCB Bonaire to produce NAF checkbooks. We kindly request our customers, who would have needed additional NAF checks until December 31, to contact our Branches.

We will be issuing additional information in the days to come. Feel free to visit our website www.mcbbonaire.com or our offices, or email us at info@mcbbonaire.com for any questions you may have.

Bo Banko Amigu’ - Extra-ordinary!