by Wendy Anders

This week, the state-owned Banco Nacional de Costa Rica (BNCR) announced a new series of bank accounts that require fewer requisites to open.

The three different types of accounts make banking in Costa Rica accessible for the first time to foreigners, youth, elderly, and others who may previously have found it difficult or impossible to supply the paperwork required to open an account.

The first bank account available has a US$1,000 (or the equivalent in another currency) limit on the total amount that can be deposited into the account each month. Foreigners can open this account by presenting a valid passport and filling out a simple form; there is no residency (cédula) requirement. Youth over the age of 12 can also open this type of account.

The second type of “simplified account,” or CES in Spanish, has a US$2,000 maximum monthly deposit limit, and is open to the elderly, Costa Rican citizens, and foreigners with a valid residency card (cédula de residencia).

The third type has an upper deposit limit of US$10,000 and requires holders to file a form on the origen of the funds deposited. It is only available to citizens and legal residents of Costa Rica.

Qualifying users can open a maximum of two simplified accounts, one in dollars and one in Costa Rican colones.

Previously all new bank accounts at the BNCR required users to submit a statement of income in addition to their official ID; and only residency card holders could apply.

The simplified accounts come with a debit card, and can be opened via the bank’s website, over the phone or in person at any bank branch, stated the BNCR in a press statement this week.

More information is available at www.bncr.fi.cr, or by telephone at 2212-2000.