Costa Rica Banks Buckle Down On Foreigners

Foreigners who have a checking or savings account in the country will need to fill out an immigration identification document for foreigners (Dimex) to avoid problems in banks.

Since last January the General Regulation governing legislation against drug trafficking, related activities, money laundering, terrorist financing and organized crime, has placed these stipulations on banking and foreigners.
Foreigners are given a year of time limit for submission of Dimex by foreigners who have bank accounts in the country.

According to the Regulations, when the time limit expired, the bank may suspend the service or restrict the type or amount of services the bank offered, according to “the categorization of risk” customer.

According to Carlos Melegatti, director of Central Bank Financial Services – the use of a single document to identify foreigners permits a “traceability” or monitor any transactions conducted in the banking system. This happens with the Costa Rican, they have a universal identification that is the identification card.

Mario Zamora, Security Minister explained that this was the “link” that was pending to follow any irregular transactions.

The remarks came yesterday during the press conference which announced the mandatory use of Dimex for interbank transfers through the National Electronic Payments System (SINPE) from 1. July.

Now banks seek to apply the update mechanisms of identification for foreigners clients.

Anabelle Ortega, director of the Chamber Banking, explained that for the moment, there is no counting the number of accounts that are owned by foreigners.

The standardization process of the identities of migrants began in 2005 and since 2008 began with the issuance of Dimex.

Kattia Rodríguez, Director of Immigration, said that for the moment about 382,000 people have this document and they are still missing about 65,000 that have applied.

It appears to me that if you received a cedula for residency since 2008 you have the required ID.  To be on the safe side those with bank accounts should ask the bank if their ID is correct for doing business at the bank.

Migration will give special attention to people who have expired identification, the Costa Rican foreign parents of children and individuals who provide domestic and agricultural work.