Costa Rica: Fewer Checks, More Electronic Banking

Between 2015 and 2016, transactions via electronic banking grew by 22%, while the issue of checks continues to decline.

Wednesday, May 10, 2017

n dir="ltr">From a statement issued by the Costa Rican Banking Association:

9 May 2017The ease of making secure transactions with just one click, from the house, office or even cell phone, therby avoiding having to go anywhere or queue up, is making more and more users of banking entities, along with the
Costa Rican Banking Association (ABC), prefer electronic banking.

Data from the last report on Statistics on and Payment Systems and Methods, compiled by the Central Bank of Costa Rica (BCCR), show constant growth of digital banking in the last few years. While in 2009 a total of 42.2 million transactions were made, worth ¢26.1 billion colones, in 2016 158.7 million transactions were made, worth a total of ¢149.7 billion.



More on this topic

Growing Use of Electronic Banking

April 2018

In Costa Rica in the past seven years the number of financial transactions carried out using digital banking almost doubled, going from 64 million in 2010 to 151 million in 2017.

From a statement issued by the Costa Rican Banking Association:

April 2018. The use of different digital banking channels offered by financial entities to Costa Ricans (Internet banking, mobile banking, telephone banking) which allow them to carry out transactions without having to visit the bank's offices, has seen steady growth in recent years. The Statistical Report on the National Payment System 2017, by the Central Bank of Costa Rica (BCCR), confirms that the number of transactions went from 64.2 million in 2010 to 150.8 million in 2017.

Guatemala: Fewer Checks, More Electronic Banking

July 2017

Between 2015 and 2016 issuance of checks in the country fell by 5%, while the use of electronic banking continues to grow.

The former president of the Banking Association of Guatemala (ABG), Luis Lara Grojec, explained to S21.gt that "... electronic banking will continue to grow in the coming years, but more than services through computers, there will be an increase in the use of applications on mobile devices, such as cell phones and tablets.

Online Banking in Nicaragua

April 2016

Starting April 21, 6 nicaraguan banks will include among its services online money transfers.

The six banks are part of the ACH Unired network, an entity authorized by the Central Bank of Nicaragua to operate in the country. Some banks offer no-cost transfers, while others charge transaction fees ranging between $5 and $20.

Panamanian Banks to Apply More Fraud Measures

October 2011

Better internet connections and mass use of mobile phones have led to an increase in phishing scams.

In the last year (2010) alone losses of $18 billion and $20 billion were reported, according to information from the Federal Bureau of Investigation (FBI).

"Phishing, which was widespread last year in the Panamanian market, is a type of fraud that uses fake emails which redirect clients to a copy or imitation of a legitimate website, so that personal and confidential information can be gathered and used to commit fraud" reported Prensa.com.

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