Banks in São Tomé and Príncipe

The BCSTP licenses banks, keeps the banking register, supervises institutions, applies sanctions, oversees payment systems and handles financial consumer protection. The Tesouro and Ministério das Finanças manage government financing but do not provide ordinary retail banking. BISTP and Afriland First Bank STP are designated domestic systemically important banks. Energy Bank left the banking system in January 2022; Banco Equador and Energy Bank were still involved in court liquidation proceedings at the end of 2025, while Banco Privado remained insolvent and deposit refunds were still ongoing. Account access depends on the bank and the customer's situation. Banks commonly request a BI, passport or residence card, NIF, proof of address and, where relevant, proof of income or employment, information about the source of funds, a photograph and a signature. Foreign customers generally use a passport and residence card. A joint account normally requires written instructions and clear signing rules. Banks apply customer identification and anti-money-laundering checks and may request updated information later. The Conta de Inclusão Financeira (CIF) is a formal local pathway for financial inclusion. Its NAP entered into force on 12 May 2025, followed by a CIF data instruction on 20 August 2025 and a standard information sheet on 19 June 2025. A January 2026 campaign by the BCSTP, Direção dos Impostos and Registo Notarial offered free issuance of BI and NIF for account opening. Exact CIF limits, functions and fees should be checked against the current NAP and the bank's tariff. Banks offer demand or current accounts, savings accounts, fixed-term deposits and foreign-currency accounts. Product terms are not national standards. For example, BISTP lists a minimum opening balance of 1,000 STN for a private current account, 100 EUR or USD for a foreign-currency current account and 500 EUR or USD for a special foreign-currency account. Its company account minimum is 5,000 STN or 500 EUR/USD. BISTP's Poupança Júnior is available for ages 0 to 18, runs for six months with automatic renewal and has minimum deposits of 1,250 STN, 100 USD or 50 EUR. Afriland lists a foreign-currency savings product with no maintenance fee on its product page. These examples do not establish prices or eligibility at other banks. Payments use cards, cheques, account transfers, direct debits and other bank instructions. Rede Dobra24, operated by SPAUT, connects participating banks through interoperable ATMs and POS terminals. It supports cash withdrawals, balance and transaction checks, transfers, bill and service payments and mobile-phone top-ups. In 2024, Dobra24 recorded 66,564 active cards, 1,872,930 ATM transactions, 16,076 ATM transfers and 821,679 POS purchases. Cash withdrawals remained dominant, although POS purchases grew substantially between 2021 and 2024. SICOI handles cheque and paper clearing, SIBANC supports high-value settlement and SWIFT supports international transfers through connected institutions. Digital services include BISTP Kwa Non, Afriland First Net Banking and GTIBANK's digital and mobile services. Depending on the provider, customers may view balances and statements, make internal or foreign-currency transfers, manage cards, change PINs, order or cancel cheques, open term deposits and block or replace cards. Digital access and agent-based services are established but remain uneven across regions, with Príncipe and rural areas less well served than Água Grande. International Visa and Mastercard acceptance exists, but availability and charges depend on the bank, card and merchant. There is no single national standard for account fees, transaction charges or processing times. Current bank tariffs determine account maintenance, card, ATM, transfer, foreign-exchange and cheque charges; BISTP and Afriland publish 2026 tariff schedules. The BCSTP's reference rate sets the euro peg, but foreign-exchange commissions and spreads remain bank-dependent. A customer should keep the tariff, account terms and transaction receipts because they show the applicable charge and service conditions. A complaint normally starts with the bank. If the issue is not resolved, the customer can use the BCSTP Ficha de Reclamação for a bank, insurer or exchange office. The form requires identification, NIF, the institution, branch and details of the transaction or complaint. Law No. 03/2025 provides for BCSTP support for a general deposit-guarantee fund and a resolution fund, but the locally confirmed operational coverage, limits and payout deadlines are not sufficiently established to treat deposits as automatically guaranteed. Protect account access by refusing links that request updates through social media, never sharing a Kwa Non username, password, PIN or confirmation code, enabling transaction notifications and avoiding public Wi-Fi for sensitive banking. Report a suspected compromise to the bank promptly and block a lost card immediately.