The Banking System in Costa Rica is Safe and Reliable

Is the banking system safe and reliable? Can Costa Rican banks transfer funds and convert foreign currency checks, drafts, and transfers? Are checking, savings and other accounts you may need available to foreigners? Is there banking confidentiality? Exchange controls? Can money brought into the country be taken back out again? 

There are four national (government owned) and about 23 private banks operating in Costa Rica, including Citibank from the United States and Scotiabank from Canada.

All deposits in national banks are guaranteed without limit by the government of Costa Rica. Banking is both safe and reliable, although the national banks can be bureaucratic. Checking, savings and investment services are available from all banks in Costa Rica. It is also possible to operate accounts in the United States or elsewhere through Costa Rican private banks.

Banking in Costa Rica is protected by secrecy legislation. Foreigners may have bank accounts. There are no exchange controls or restrictions on removing funds from the country.

Reliable Banking System in Costa Rica