We could use advice on opening a bank account

@roarkrick

Welcome on board Rick !

Thank you for sharing your project with members !

Should you have any questions, feel free to open a new thread on the Costa Rica forum to seek advice from members.

All the best

Bhavna

@roarkrick

All you need to open a bank account is your passport; a phone number and or Email; and some 'kind' of address here... even the address of a house you don't yet live in; or your hotel.    I literally used the address of a house I was thinking of buying because it was in my 'head'...  since there is no mail here... the address is not important.   I was not a resident.  Email is important for notices and receipts. 

I use Banco Nacional (BN) ... I have never had an issue... but they will always question you as to 'where' the money came from that you are depositing... whether it is cash, or a wire transfer.  They will put a hold on things until you can show them proof as to where the money came from.  A bank withdrawal slip won't work.  You need to show the 'sale' documents from selling assets or properties; a formal withdrawal from an annuity or like; your SS  'awards' letter; etc.   I always have the closing papers from the sale of my house back in the USA...  thus, never an issue; just a wait... especially if a wire transfer is more than $5K.  Smaller amounts tend to go somewhat unnoticed... the banks 'assume' you will be getting regular deposits from somewhere.

So... all you need to do is walk into the bank, hand over the information; and then hand over some 'cash' to open the accounts (highly recommended to have two accounts here... one in CR Colones; and the other in US dollars to receive your international transfers.)   They will give you the account numbers; info for elec. banking; and even debit cards for each account (you go back a few days later to pick up the cards).   It's quite easy.  They will also give you the account numbers and IBAN numbers for international wire transfers.   You don't need residency, nor a lawyer.  Many people have accounts here that don't have residency yet because they're still living/working abroad.  But you may want to inquire as to which personal banker, at the branch you choose, speaks at least some English... or take somebody with you, that you trust, to do the translating for you. 

Electronic Banking is really really handy here... that is how we pay all of our utilities here (you can also pay them with cash at the local grocery, or go to the utility office if it is convenient) and you can move funds back and forth between accounts.

Before you go to a bank to get an account... You can make a 'list' of items and questions that are important to you, translate them into Spanish...  and 'show' them to the banker.

It took me around 30-45 minutes

Good Luck

I second the recommendation to open a dollar account and a colon account at Banco Nacional de Costa Rica. They have the most branch offices around the country. Too, many, many businesses bank there, so if you buy something large, like an appliance, it's easy to pay them online via an account-to-account transfer. You can also pay utility bills, etc, via BNCR's website.

Like every other bank here, they are hamstrung by concerns that mainly emanate from the U.S. Treasury Department about money laundering. That explains all the bureaucracy and delays. The other banks are similarly constrained, so we just live with it. Having our U.S. Social Security directly deposited to BNCR every month makes things much easier. No hassles and your money's reliably here, in your dollar account, of the third of every month. There's a six-dollar monthly charge for that but the convenience is well worth it.

My one complaint about BNCR is that the "Service Platform" where you must go to make arrangements and such that the tellers cannot handle can sometimes be very busy. In Grecia, the correct approach is to (1)get past the trained killer at the front door, (2)once in the Service Plaza area, take a number and find a seat 9you hope) , and (3)order lunch delivered.

Just a point of interest, the platforma  has been eliminated in Puriscal. Everyone does everything now.

hahahah!!!  so true about the Plataforma de Servicio!!   Either be the first in line or lie about your age and sit in the 'mayores' area... that 'window' or caja is for 'seniors' and it generally 'moves' faster ... or bring a book; a thermos; and patience.  I've seen some of those 'bankers' sit with the same client in front of them, for over an hour... just talking.  Was it about accounts?   Soccer?   real estate?   Baby clothes?    I wonder if their employer checks on how much time they spend per/client ???    Thank the goddess on high for electronic banking. 

Also... I never knew that you could have your SS check auto-deposited into a CR bank account!!!  Good to know... CR wasn't on the SS website list of 'countries' that it allows for that.   the world is shrinking... and sadly, so am I.   

SS checks are first routed to Irwin Bank in New York and then automatically forwarded to BNCR.

I think the reason that the Service Platform folks spend so much time with customers is that BNCR runs on an eighties vintage TRS80.

@daveandmarcia I'm not  saying anything about   the national bank . One thing for  sure  the banks in Costa Rica .Work a little different it is a waiting process stand in line .and the national bank . Is even worse maybe  have more  client's.  but the lineup  is every where i went in Costa Rica a lot longer .I don't know why .

@daveandmarcia

Yep...  they type in a few things, click... and then..........................................................wait.  They all have beverages and snacks to keep them busy while they wait.  It's like one of those painfully absurd scenes from a Jacque Tati movie... only without the backdrop of Paris to act as a foil.  I will intentionally give my 'spot' away in the Q so that I can sit with one of the English Speaking bankers... at least we can chat.