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BCR Goes “Beep” With The First “Wearable” Banking in Costa Rica

The Banco de Costa Rica (BCR) is the first bank in Costa Rica to make available to its customers the first "wearable" or wearable device linked to a banking service in the country for purchases. The wristband uses contactless technology for purchases under ¢15,000, as...

Learn to check your cash and avoid scams

The Banco de Costa Rica (BCR) is recommending its clients and the general public to be alert, to check their cash to avoid falling victims of scams, receiving false bills when getting change back. Among the recommendations by the State bank: Do not lose sight...

Former Banco de Costa Rica President Arrested

The Ministerio Público confirmed on Friday afternoon that Paola Mora Tumminelli, former president of the Banco of Costa Rica (BCR), remains detained in cells of the Organismo de Investigación Judicial (OIJ). Mora is being investigated on issues related to the so-called Cementazo or Chinese cement...

Merger Of Two Costa Rica State Banks Proposed. Damage or Benefit?

One of the things the new group of legislators that take their curuls (seats) in the Legislative Assembly today, May 1, is to support or reject the bill for the absorption of the Bancredito by the Banco de Costa Rica (BCR). Last week, the bill...

Proposed Is A Merger of The Banco de Costa Rica With the Banco Nacional

Costa Rica is down to two State banks, that is if you don't count the Banco Popular, which is, well, I don't think anyone really knows what it is. Now, after everything that has happened at the Bank of Costa Rica (BCR) in recent months,...

BCR Promo Offers 2 Bags Of Chinese Cement To New Accounts

The happy days of banking are back at the State bank, the Banco de Costa Rica (BCR). In an attempt to woo customers, the bank has taken the unusual decision to offer two bags of Chinese cement to all customers opening an account at the...

A Synopisis of the Cementazo Scandal

Rico's TICO BULL - So far I have stayed away from reporting the Cementazo (cement scandal). In the words of a dear friend, it's just gotten boring. In fact, the first few stories in La Nacion daily are about the Cementazo. At the risk...

Red Cross Calls On People To Keep Donating

The Cruz Roja (Costa Rican Red Cross) thanked donors for their support to those in need, affected by tropical storm Nate. However, the institution did call on its 121 local committees to ensure donations are of good quality and useful for the victims. This after...

‘Corporations Tax’ Amnesty For 90 Days

From September 1 to December 1, companies can take advantage of an amnesty to bring to date their payment of the 'Corporations tax'. The "Corporations Tax" is an annual tax for all corporate entities, akin to a 'compulsory annual membership fee'. It is not the...

Loans in Colones Get More Expensive

Interest rates on bank loans have increased by between 0.11% and 6.6% in the last year, and those for loans for construction, livestock and commerce, are where the highest increases have been recorded. Data published by the Banco Central de Costa Rica (BCCR) - the...

U.S. Remittances To Costa RicaUp In First Quarter of 2017

According to data published by the Banco Central (Central Bank), as part of the quarterly balance of payments (which records Costa Rica's transactions with the rest of the world), the country's total remittance income in the first quarter reached US$127 million, which US$99 million...

Costa Rica Credit Card Debt Up 21%

Between April 2016 and April 2017, the balance of credit card debt in Costa Rica grew by 21%, equivalent to 3.7% of GDP, says a study by the Ministry of Economy, Industry and Commerce (MEIC). The MEIC study, through the Directorate of Economic and Market...

BCR President To Resign Over Clash With Board of Directors

Q COSTA RICA - A bomb threat that led to the evacuation of the Banco de Costa Rica (BCR) central offices in downtown San Jose, delayed the resigning on Wednesday of the bank's president, Paola Mora Tumminelli. Mora is expected to tender her resignation to...

Bancredito To Close As A Retail Bank

As State banks go, Bancredito was not the top choice for Costa Ricans, even less for foreigners in Costa Rica, which for the longest time, the only interaction they had with the bank and unbeknownst to them, was to pay the airport tax as...

Costa Rica Starts Bank Account Renumbering

Q COSTA RICA - Sunday, January 22 will see the start of the process to replace the 17-digit customer 'cuenta cliente" (account numbers) with the global standard International Bank Account Number (IBAN), which will facilitate interbank transactions at the national and international level. The Central...

State Bank Faced With Declining Revenues and Rise In Bad Debts Calls For Government Aid

(QCOSTARICA) Facing financial problems, the Costa Rica state bank, the Banco Crédito Agrícola de Cartago (Bancrédito) has put forth a plan that includes a call for the transfer of state businesses, the administration fo the PYMES and Conape funds and a cash injection of...

The “New” Banking In Costa Rica

(QCOSTARICA) Today, the Banco Nacional (BN) joins the Banco de Costa Rica (BCR), Grupo Mutual and Bancredito allows anyone, including foreigners permanently or temporary and tourists in Costa Rica, to open a bank account without requiring a Costa Rican cedula. The product is known as...

State Banks Offer 760 Properties At Attractive Pricing and Easy Financing

QCOSTARICA - Three state banks will be selling off about 76 properties in the first "Expo Interbancario" (Interbank Expo) to be held from April 15 to 17 in City Mall, in Alajuela. During the three days, the Banco de Costa Rica (BCR), Banco Nacional (BN)...

New Bank For Woman Dubbed by Critics “Barbie Bank”

QCOTARICA - The social media is dubbing the new bank for women by the Banco de Costa Rica, the "Barbie bank" of its use of pink in the style of a Barbie world, and a "princess castle" at the City Mall branch, to promote...

Costa Rica Announces US$93 Million in Soft Loans

(QCOSTARICA) - Six financial institutions have been authorized to provide loans under the conditions imposed by the Development Bank, with interest rates of 3% in dollars and in line with the passive base rate in colones. Welmer Ramos, chairman of the Governing Board of the...

Costa Rica Central Bank Introduces Virtual Wallet (Monedero Virtual)

QCOSTARICA - Customers of the Banco Nacional (BN), Banco de Costa Rica (BCR) and BAC San José can, through Monedero Virtual (Virtual Wallet) now make SINPE transfers from the smartphones. The Banco de Central de Costa Rica (BCCR) - Central Bank -  on Thursday introduced...

Public Banking in Costa Rica

In Costa Rica, publicly-owned banks have been available for so long and work so well that people take for granted that any country that knows how to run an economy has a public banking option. Costa Ricans are amazed to hear there is only...

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