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Was Your Costa Rican Bank Account Closed?

Article Summary:

If you forgot to file your paperwork for your Costa Rican bank account by the end of December, then you might find it impossible to do your banking in January.

Photo Credit: Costa Rica Pages

Original Article Text From Inside Costa Rica:

Deadline to update your bank details is Sunday or face account closure

If you have a bank account in Costa Rica, you have until Sunday, December 22nd to comply with “Know your Customer” regulations in order to avoid having your accounts being frozen or possibly closed.

Sunday is the deadline given by the Costa Rican Banking Association (ABC) to comply with “Know Your Customer” regulations. The process began on September 16th.

In order to comply with the regulation, account holders need to visit their bank and complete a “Know Your Customer” form.

Those holding accounts in their own name must also provide identification documents, and financial information such as payroll stubs, income certifications, proof of salary or income, list of their employers, and other information.

Those holding accounts in the name of a business must also complete the Know Your Customer form, as well as provide financial information and certifications including accounting records, audited financial statements for the last fiscal period, and additional information.

Those whole fail to comply face having their accounts frozen or closed.

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Link to Original Article:

From Inside Costa Rica

Latin America Investment News on Viva Tropical