I-Pago-News

Introduction I-Pago and fee adjustment for Corporate Customers

Starting January 24th, 2020, the Centrale Bank van Aruba (CBA) introduced I-Pago, a new instant payment rail. This new instant payment solution is the trademark for the domestic instant payment services provided in Aruba, enabling payments to be done fast and easy, significantly lowering transaction times, reducing uncertainty of payments, and, thereby, enhancing transparency. 

The new Instant Payments Clearing and Settlement Mechanism is available for all Aruba Bank N.V. customers. As per March 30th, 2020, transactions to other local banks for Aruba Bank Corporate (business) customers, will be AWG. 0.74 per transaction, for outgoing business transactions greater than (>) AWG 250,-. This fee is based on the fee charged by the CBA (AWG 0.70 excluding BBO/BAZV/BAVP, per outgoing transaction greater than AWG 250.-). All other existing fees for outgoing business transactions will remain unchanged.

For our updated Fees Schedule please visit: https://arubabank.com/aboutus/aruba-bank-fees-2019
More information about I-Pago is available on Centrale Bank van Aruba’s webpage: https://www.cbaruba.org/ipago

For additional information, please call our Contact Center at +297-527-7777 or contact your personal Account Manager.

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