Wednesday 5 October 2022

BAC will modernize its ATM network in Costa Rica

Bank will replace more than 250 ATMs with more technological, inclusive and secure equipment.

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05 October 2022 - At The Banks - BCCR

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QCOSTARICA – Starting in 2021, BAC set out to modernize its ATM network at the national and regional levels, and this year the bank decided to speed up this process, in order to bring more facilities to customers and improve their experience in this service.

Typical array of ATMs at BAC financial centers in Costa Rica and the region

The goal for this year is 280 new ATMs and an additional 103 devices are planned to be replaced in 2023.

“BAC is recognized locally and internationally for staying at the forefront of innovation, which is leading us to replace current ATMs with more technological, inclusive units that allow procedures to be carried out more securely,” said Laura Moreno, vice president of BAC Corporate Relations.

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To date, the bank has a network of 521 active ATMs throughout Costa Rica, and by the end of this year is expected to increase that figure to 540.

The new devices, smaller and more accessible, have touchscreen keyboard functionality, which will enable users to enter detail for each deposit. In addition, they will also be able to withdraw money without a card, by programming this action with the support of the
BAC Mobile Banking application.

Another change is the operating limits. Customers will be able to deposit a maximum of 6 million colones per day.

“A variation that we will see is the way of inserting the card into the ATM, since in this equipment it is now horizontal, which has allowed for improved reading security. The vast majority of BAC branches nationwide will have at least one of these new pieces of equipment,” Moreno added.

The executive added that the new ATMs are designed to support contactless and biometric functionalities, which are expected to be activated in the future.

The ATM network modernization plan is also being implemented in the BAC network throughout the region, with an investment of over US$25 million dollars over the next 4 years.

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BAC Credomatic is a leading private financial group in Central America, with operations in Guatemala, El Salvador, Honduras, Nicaragua (where it was founded and former headquarters in the city of Managua), Costa Rica (current headquarters), Panama, Grand Cayman, The Bahamas, and the United States.

Currently, BAC is part of Colombia’s Grupo Aval holding company, headquartered in Bogotá, Colombia.

Revista Summa

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