Remittances Through Costa Rica's Postal Service

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

Wednesday, September 9, 2009

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. Once the term ends, the entity will have to secure the license with its own funds".

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

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.

New Regulations for Costa Rican Postal Services

December 2009

The bill would grant state-owned "Correos de Costa Rica" a monopoly over letters or packages weighting less than 500 grams.

These regulations would only affect basic postal service and not courier services.

"...the bill stipulates that the cost of any mailing weighing more than 500 grams will be defined by the market", reports Nacion.com.

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