Methods of Payment

Common methods of payment include a letter of credit or documentary credit, bank drafts, or bank transfers. Suriname has no credit rating agencies. Several banks offer MasterCard- and Visa-branded credit card services.  Most retail transaction are conducted in cash, including U.S. dollars and Euros, which remains a common form of payment. For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.

Banking Systems

Suriname’s banking system consists of four major commercial banks: Republic Bank, DSB Bank, Fina Bank and Hakrinbank. There are also four smaller local banks. The majority of the banks do not have correspondent arrangements with U.S. banks. Bank transfers occur through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system. All the aforementioned banks offer electronic banking services. 

There are no restrictions for foreigners to open a bank account. Banks require U.S. citizens to provide the information necessary to comply with the U.S. Foreign Accounts Tax Compliance Act (FATCA).  Opening a local bank account can take 12 months on average.

Foreign Exchange Controls

There are no restrictions or limitations placed on foreign investors in converting, transferring, or repatriating funds associated with an investment, such as remittances of investment capital, earnings, loan or lease payments, or royalties. 

Funds associated with any form of investment can be freely converted into a usable currency at legal market clearing rates with the permission of the Foreign Exchange Commission. However, the criteria for obtaining permissions are opaque. 

U.S. Banks and Local Correspondent Banks

There are no U.S. banks operating in the market.

For additional information, visit the U.S. Department of State Investment Climate Statements.