Product Terms and Conditions

Current Accounts

This Product Terms and Conditions is an add-on to Aruba Bank’s General Terms and Conditions and provides additional information to our Current Accounts. 

1. Version 
   Version number: Product terms and conditions current accounts version 201811. These product terms and conditions are subject to change. Aruba Bank reserves the right to change the interest rate at any time in its sole discretion. All fees, commissions, interest, and/or costs are subject to change at the Bank’s discretion.
   
   
2. Specific product information
   

   Product name	Additional information
   Current Account	This account offers an ATM Card and has no limitations on the number of withdrawals or deposits. Monthly service charges: * Salary Account AWG 2.65. * 60+ Account is free of charge.

   
   
3. Credit Line
   
   A Credit line gives you the possibility to withdraw more funds than are available in your current account. This can be requested at one of our branches.
   - Specific requirements are applicable to qualify for a credit line.
   - An interest rate of 18% p.a., with a minimum of 10.00 in the respective currency will be charged monthly if the account has an unauthorized negative balance.
   
   
4. ATM Card
   
   - ATM card is only available with a florin (AWG) current account.
   - ATM dispute fee: AWG 26.50.
   - Replacement fee: AWG 26.50.
   In case of lost or stolen this fee can be waived if a police report is presented.
   
   - The ATM card of Aruba Bank can be used in all stores that accept Maestro for purchases.
   The Maestro transactions are free of charge.
   Tax charges are applicable for Maestro transactions abroad.
   
   - The Aruba Bank ATM card can be used at any ATM with the Cirrus logo.
   ATM withdrawals at Aruba Bank’s ATM are free of charge.
   ATM withdrawals at other Banks: AWG 4.50 per transaction.
   
   
5. Deposits and withdrawals
    
   
   

   Residents Account	Deposits in AWG	Deposits in Foreign Currency	Withdrawals in AWG	Withdrawal in Foreign Currency
   AWG	No charges.	No charges.	No charges.	1.30% government charge; 0.25% foreign exchange fee; Bank commission AWG 5.
   Foreign Currency	Not allowed.	1.00% exchange commission; minimum 5.00 in respective currency.	No charges.	1.30% government charge; 0.25% foreign exchange fee. Restrictions are applicable.

   
   
   

   Non-Resident Account	Deposits AWG	Deposits Foreign Currency	Withdrawals in AWG	Withdrawal in Foreign Currency
   AWG	1.30% government tax.	No charges.	No charges.	0.25% foreign exchange fee; Bank commission
   Foreign Currency	1.30% government tax; 0.25% foreign exchange fee.	1.00% exchange commission; minimum of 5.00 in the respective currency.	No charges.	No charges.

   
   
6. Dormant Accounts 
   - The account will become dormant after 24 months without customer transactions. Aruba Bank will notify the customer about this in writing.
   - Dormant fee per calendar year: 15.90 in the respective currency.
   
   
7. Closing of Accounts
   In order to close the account, the customer can send a request online or can come to the bank with a valid ID.