The banks' two million clients generate transactions of about 10 billion colons (some US$20 million) a month. Now cash and checks deposited at either institution will be instantly reflected in accounts of the other, with having to wait for clearance.
The new rules apply both to dollar accounts and those in local currency.

Source: La República

More on this topic

Panama: Bank Deposits Grow by 11%

December 2011

Internal deposits in individual savings accounts in the banking systems amounted to $25 billion.

The confidence of Panamanian and foreign savers is reflected in the amount of deposited funds in the countries banks, which has grown considerably in the last few years.

Of all the money deposited in the system, internal funds have shown the greatest growth, which at the end of the third quarter was 11% more than in the same period in 2010.

Nicaragua: Savings in Banking System Grow

June 2011

Economic recovery and resources from the Venezuelan Cooperation explain the rise in deposits.

The deposits in Nicaraguan national banks, especially those denominated in foreign currency, have shown significant increases in recent months.

Economists say the increase is due in part to improved economic conditions prevailing in the country, which have increased Nicaraguans savings and their confidence in the banking system.

Costa Rica: National Bank lowers interest rates

February 2009

Effective February 15 the bank will reduce its interest rate for housing loans lower than $89.000 (¢50 million) by 2 percentage points.

Nacion.com reports on its website: "The Popular Bank also agreed to reduce its interest rates by 2 points starting on March 1.

These banks have joined the Bank of Costa Rica and the Bancredito Bank in reducing their rates at the request of the Government in order to deal with the economic crisis."

Credit available at Costa Rican state banks

January 2009

After being capitalized, the three state banks - Bank of Costa Rica, The National Bank and Bancredito - reactivated all their lines of credit.

Nacion.com reports: "The Bank of Costa Rica has issued some $14 million (¢8 billion colones) since December 23.

At Bancredito, Arnoldo Trejos, Commercial sub manager, reported that they are currently formalizing the requests that were accumulated during the last few months of 2008.