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More than 78% of the adult population in Costa Rica has a bank account

The most recent information from the Central Bank of Costa Rica (BBCR) indicates that 78.64% of the adult (over 18) population that lives in Costa Rica have at least one bank account. According to official data, 72.14% of people 65 years of age or...

Bad Credit? A reform would “wipe clean” credit history of some 63,000 people

Did you borrow with on a credit card and, even though you handled the rest of your accounts well, fell behind on your card payments and stained your credit history? That is the case of thousands in Costa Rica, who for some reason or another,...

Businesses to be fined if they do not accept plastic

Although not as common as it used to be, a business not accepting plastic still occurs. But starting in July, with the entry of the Impuesto al Valor Agregado (IVA) -  Value Added Tax - businesses that do not accept credit or debit cards...

Card Payments Of Less Than ¢15,000 Do Not Require Signature or ID

Paying for purchases of ¢15,000 colones or less at Costa Rica retail outlets with credit or debit cards that have a chip or contactless technology no longer require the presentation of ID or have the voucher signed. The change was adopted by the Central...

Costa Rica Credit Card Debt Doubles

The balance of credit card debt doubled in the last eight years, going from US$1.005 billion in April 2010 to US$2.095 billion in April 2018, the Ministry of Economy, Industry and Commerce (MEIC) has revealed, by means of a report prepared by the Directorate...

Costa Rica Credit Card Debt Grows 23%

The number of cards in circulation in the country grew by 9% between July 2016 and July this year, and the balance of debt increased by 23% in the same period. That is the result of the latest quarterly study on credit and debit cards,...

Electronic Banking Takes Force in Costa Rica

(QCOSTARICA) Banks in Costa Rica are making more digital tools available to its customers to facilitate transactions and to avoid the lines at branches. Currently there some 2.5 million credit cards in circulation in Costa Rica. Although EMV cards (also called chip cards or IC cards)...

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