WILLEMSTAD – The Fundashon pa Konsumidó (FpK), the consumers foundation, has expressed concerns about the proposed amendment to the National Ordinance on Basic Payment Accounts during a technical briefing in Parliament. The organization raised several issues regarding consumer rights and the law’s practical implementation. 

The FpK emphasized the importance of clear regulations to protect consumers, particularly those in Bonaire, Saba, and St. Eustatius. They requested clarification on the legal position of consumers in these territories and questioned the interpretation of ‘reasonable’ fees and the transparency of requirements for opening a bank account. 

Additionally, the foundation criticized potential inconsistencies in how consumer interests are assessed and restrictions on holding multiple accounts. Concerns were also raised about the sharing of consumer data between banks and the possible negative impact on privacy. 

While the inclusion of a complaints procedure in the proposal was welcomed, the FpK criticized the Central Bank’s lack of follow-up on consumer complaints. The organization called for clear guidelines to protect vulnerable consumers, such as those suffering from chronic illnesses. 

The debate over the amendment is ongoing, with consumer protection remaining a key issue in discussions about banking accessibility and financial rights.