Subscribe by Email!
September 8th, 2007
A few weeks ago, I wrote about three banks here in Costa Rica and how they compare. You can review that post HERE if you wish.
In that post, I left readers hanging a bit regrading BAC San Jose and their policies regarding the depositing of checks from outside Costa Rica. You may recall they have this little “gotcha” policy that prohibits the depositing of any check from outside Costa Rica for the first year, a truly stupid and needless policy for most people and for businesses especially. After 18 months of 100% trouble free banking, I asked that my company accounts be allowed to deposit checks, all from the USA. Here is what I was told:
“BAK San Jose no longer permits the depositing of checks drawn on foreign (non Costa Rica) banks.”
“HUH”, says I. “That makes no sense. I maintain a large balance and have been a totally trouble free account for almost two years. I am a legal Permanent Resident and own multiple businesses”.
“Sorry”, says she, manager of the branch. No explanation.
“Does this affect all account holders or only me?”
“It affects everyone”.
I believe that statement to be 100% false, but have no way to disprove it. With no other options, I transferred nearly all the money to Banco Nacional who had no problems accepting foreign checks. I left open the accounts with small balances so my Costa Rica customers could continue to make transfers.
As this bank policy is so utterly STUPID and devoid of any logic whatsoever, I now change my rating of BAC San Jose to ZERO and would caution all to be cautious in their dealings with them. Something is amiss I fear!Filed under Banking & Finance, Banking in Costa Rica, Costa Rica, Life in Costa Rica, Living in Costa Rica, Rants | Comments (13)