Xoom launches deposit service in CA

Xoom.com, a money transfer company, announced the launch of its bank deposit service in El Salvador, Guatemala, Honduras, Nicaragua, Panama and Costa Rica.

Thursday, November 20, 2008

American clients can sent money to Central America directly from their bank accounts to a beneficiary at any Citi Bank.

Xoom.com charges the account of the sender electronically in the US and deposits the funds in the bank account of the beneficiary.

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Integration of Costa Rica to Regional Payment System

January 2014

It has been announced that from March Costa Rican banks will be able to allow their customers access to the Central Interconnected System of Payments.

From a press release by the Central Bank of Costa Rica:

A new service has been developed called 'Pagos al Exterior (PEX)' (Foreign Payments), which will allow individuals and legal persons resident in the country, to send and receive transfers of funds to and from accounts in a financial institution located in El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic. The aim of the service is to provide a fast and secure technology platform for processing commercial payments and remittances in the region.

Electronic Transfers in El Salvador

April 2012

A Service for Interbank Electronic Transfers (SITE), which allows transfers of money between bank accounts, is now in operation.

Operated by ACH El Salvador, the SITE will allow the interconnection of banks and financial institutions around the country to become more secure and faster.

Integration of Central American Banking Systems

January 2011

By the end of February the Regional Interconnection Payments System (SIP) will be operational.

The new system will allow banking institutions in Central America and the Dominican Republic to receive electronic transactions at a lower cost than through private banks.

"According to the structure submitted by Sergio Recinos, financial manager at Banguat, to representatives of the Banking Association of Guatemala, the cost per transaction using SIP will be $5 and will be open to all banks operating in the region and with an account at their central bank," reported Elperiodico.com.gt.

MoneyGram Forges Central American Alliance with Citi

June 2010

MoneyGram International and Citi today announced an agreement to expand MoneyGram's money transfer services to all Citi locations in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.

"This important agreement extends MoneyGram's presence in Citi's network across Central America," said Dan O'Malley, MoneyGram International executive vice president for the Americas.

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