Bank Accounts in Costa Rica – How To Open One?

There are a variety of banks in Costa Rica to choose from, if you are thinking of opening a bank account here. Banco Nacional, Banco Credito Agricola, and Banco de Costa Rica are the three government guaranteed banks, but there are many others as well.

Opening a typical savings bank account
In order to open a simple bank account in Costa Rica, you will need:

  • Passport or cedula (the Costa Rican form of identification)
  • A recent water, telephone, or electric bill
  • A letter of recommendation from someone holding an account at the bank
  • A phone number

Bring all of these things, as well as a small deposit, and you should be all set with your new Costa Rican bank account.

Opening a Checking Account in Costa Rica
Opening a checking account is a little more difficult than a regular bank account.  In order to open a checking account, you will need to be a resident here, and the bank will likely ask for your cedula or passport. To open a checking account in colones, you’ll need a minimum deposit of 250,000 colones, the equivalent of $500. To open a checking account in dollars, the minimum deposit amount is $2,000.

Opening an Account of a Corporation
If you own a corporation in Costa Rica, you might consider opening a checking account for that corporation

Things you’ll need to open a corporation checking account:

  • Passport/Cedula
  • Name of the Corporation
  • Documented proof that your corporation is active
  • A letter from the person in the corporation with power of attorney
  • The names of the people on the account and their ID numbers
  • A minimum deposit of 500,000 colones for an account in colones and $2,000 for an account in dollars

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