Money Wiring Company Sets Up Shop in Panama

The company Master Money Transfer (MMT), which has 400 stores in Spain, started operations in the country.

Monday, August 24, 2009

From its Panama offices, the company plans to expand to Costa Rica, Colombia and Ecuador.

Iván Gallego, MMT president, told newspaper La Estrella: "... our goal is to grow to 15 stores in the country, and operating in Costa Rica in a year or year and a half, and after that, Ecuador and Colombia".

More on this topic

Citi to Build Operations Center in Costa Rica

September 2013

With an investment of $35 million, the company plans to build its "Citi Campus" at Corporate Centre El Cafetal, in the west of the capital.

The institution is aiming to physically consolidate its corporate banking and consumer banking operations in the country, along with hiring 800 additional workers over the next two years.

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

Correos de Costa Rica Launches Remittances Service

February 2011

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

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

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.

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