Correos de Costa Rica Launches Remittances Service

The service will be provided through the post office services of Costa Rica and Peru, Spain, Chile, Uruguay, Argentina, Ecuador and Colombia.

Wednesday, February 16, 2011

It will launch on March and will operate at first on 4 branches located in Montes de Oca, Cartago, Alajuela and downtown San José.

Correos de Costa Rica will charge $5 for any wire started in the country and up to $10,000. The fee will be the same no matter the amount”, reported Nacion.com.

More on this topic

Remittances for $13.06 billion to Central America in 2011

March 2012

By country: Guatemala $4.37 billion; El Salvador $3.65 billion; Honduras $2.86 billion; Nicaragua $1.05 billion; Panama $592 millions; Costa Rica $530 millions.

Inter-American Development Bank Report:

Remittances to Latin America and the Caribbean rose to $61 billion in 2011

Wire Money in 15 Minutes

July 2010

Costa Rica joins the list of countries offering the "Corregiros" service that enables money to transferred in 15 minutes.

The service is expected to be completely operational from February 2011 at post offices in any of the member countries: Spain, Peru, Ecuador, Costa Rica, Cuba, the Dominican Republic, Argentina, Colombia, Chile and Uruguay.

Remittances Through Costa Rica's Postal Service

September 2009

The State's Postal Service, "Correos de Costa Rica", commenced a pilot plan for sending to and receiving money from Nicaragua.

Starting February, the service will be expanded to Spain, Uruguay, Chile, Colombia, Argentina and Peru.

Álvaro Goghi Gómez, executive president of the company, commented that "the Universal Postal Union gave them a one year license and software for participating in this market.

Honduras: New BAC/BAMER service

August 2008

BAC/BAMER Bank will launch a new service today that will allow Hondurans working abroad, especially those in the United States, to send remittances to family members at home.

Some of the main benefits of this service are that remittances send via BAC/BAMER will be received the same day they are sent, there is no fee to receive the money, they are paid in cash, the bank can pay the receiver's credit card or loan, or they can be deposited in a bank account (no matter at which it is located).

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