TODAY NICARAGUA – As of April 21, 6 Nicaraguan banks began offering services for making electronic money transfers.
The six banks are part of the ACH network, an entity authorized by the Central Bank of Nicaragua to operate in the country. Some banks offer no-cost transfers, while others charge transaction fees ranging between US$5 and US$20.
The banks are Lafise, BAC, ProCredit, Ficohsa, Banpro and BDF.
“With the ACH, accreditation of a money transfer to a bank account or mortgage payment or credit card takes an average of 15 seconds and some banks have no monetary cost if you do it electronically. ”
Elnuevodiario.com.ni explains that “…This clearinghouse will allow decongestion of bank offices and facilitate transactions which will lower costs for businesses, such as transactions to collect and pay suppliers without having to issue checks or send staff to withdraw and deposit money. The ACH already works in the rest of Central America, but only in Nicaragua and Costa Rica can transactions be made in real time. While in other countries transfers and payments are credited at the end of the day, in Nicaragua they are applied instantly. ”
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