PARAMARIBO, Suriname, Jun 9, CMC – The Central Bank of Suriname (CBvS) and the Surinamese Bankers Association (SBV) have launched the first phase of the revamped Suriname National Electronic Payment System (SNEPS), alllowing for customers to be able to transfer money to accounts at other banks at a much quicker rate.
According to the Central Bank, with the introduction of SNEPS Fast Payments, interbank transfers during business hours will be processed significantly faster than before.
It noted that whereas transactions between different banks could previously take one or more working days, payments will now be handled within much shorter processing times.
The CBvS said the launch of the revamped system represents an important step in the further digitization and modernisation of payment traffic in Suriname. Since 2015, the national payment system SNEPS has facilitated the electronic processing of payments and receipts between the government, banks, and other financial institutions.
The new system aims to ensure that mobile and online banking better aligns with the expectations of consumers and businesses, who are increasingly using digital financial services. For account holders, this means greater ease of use and faster availability of transferred funds.
The bankers say this is the first phase of the project with the next step being to realise a payment infrastructure whereby transfers between all banks are processed within 15 minutes at the latest, seven days a week and 24 hours a day.
They are opening to achieve that by the end of this year.
CMC/ic/ir/2026