Costa Rica Money Transfers
Click to enlargeMoney transferring and wiring is a very usual way to send and receive money all over the world. It is used by people to send money to their families in other countries or receive it. It is also used to pay certain services or purchase products over the internet, especially through auction sites where the sellers are usually not companies, but regular people; therefore, they are not able to accept credit cards. Only in 2002 the total amount of money transfers to Latin America was more than $32 million, most of them electronically sent and with companies that offered the service in both countries (sender and receiver) or with financial institutions that have implemented a similar service for their users. The increasing competition of providers has made the price of the service to fall and some entities have started to set up plans to make these transactions even less expensive.
The companies that have specialized in money transferring for years are of course, the most trusted companies nowadays, for example, Western Union. Costa Rica has a wide market and this company has even set up their Latin American headquarters in our country, making themselves more reliable to local users. Some state banks have also joined foreign banks to offer the money transfer service to the countries with top migration rates into our country such as Nicaragua and Colombia. Money wiring and transfers are fast and specialized companies are very reliable, they are an excellent choice for easy transactions and you can even check the status of your transfer with a simple record number at any time given.
To make a transfer, all you need is the name of the recipient, the country and state or province where the recipient lives and the cash you will be transferring. To receive a money wire you need you identification document and the transfer number if available. These requirements are valid in most companies. We recommend you check with the company you choose for further information, in some cases you might required to open an account with the company, this is the case of transferring money through Banco de Costa Rica: you will need to subscribe, then you will get an ID card that will allow you to use the service, in minutes you can transfer your money from Costa Rica to Nicaragua at the BANPRO offices (Nicaraguan Bank) there they can be picked up by the person you have chosen for the transfer. This service is for transfers up to $500 and the transfer fee is very low.
