Little Use of On-Line Banking in Guatemala

Users continue to prefer traditional operations; bankers maintain that in a short time frame, this tendency will revert itself.

Monday, February 16, 2009

Sigloxxi.com publishes an article in its website: "Among the hundred of the most visited places on the internet, and in just half of the count, only three banks are placed: G&T Continental (46), Industrial (51) and Banrural (60).

Bankers have wagered on digital services to reduce operating costs: from the paperwork that is avoided in transactions to the personnel that assist account holders."

More on this topic

Guatemala: Mobile Banking Growing

June 2015

Payment transfers and basic services are the types of transaction most made by the 708 thousand users of mobile financial services recorded in the country.

82.9% of users of financial services are concentrated in the department of Guatemala, equivalent to 587,366 affiliated mobile customers.

Increased Use of Online Banking in Guatemala

July 2011

In recent years, electronic transfers have been growing at a rapid pace.

Bank managers agree that the use of electronic banking operations reduces transaction costs, being this the main reason for its growth.

Luis Lara, manager of the Banco Industrial (BI) told Prensalibre.com that the institution expects amount of electronic transactions made by the end of 2011 to exceed those of 2010 when they totaled $1,377 million.

Increased Use of Online Banking in Costa Rica

October 2010

Payments for credit card and services as well as foreign exchange lead user preferences.

Since the service began, growth has been constant; currently more than 130,000 daily operations are performed.

"According to Carlos Melegatti, deputy manager of the Central Bank of Costa Rica, transfers of funds to third parties will soon reach five million annually," reported Nacion.com.

Online Banking Usage Increases in Guatemala

August 2009

Since the service was enabled in December 2008, over 30.000 wires transfers have been done.

In the short term, the GuateACH system will include transactions to all the Central American countries, as well as transfer wires in U.S. dollars.

Luis Lara, Banco Industrial CEO, told Prensalibre.com that "...he expect volume to increase to 80.000 transactions a month. These services will eventually substitute the use of checks".

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