Banco Nacional Cuts ATM
Fees
The management of the
Banco Nacional de Costa
Rica (BN) announced
yesterday that it will
eliminate all charges
for using an ATM.
The Banco Nacional
charged its customers
¢52 colones (us$0,10)
for each withdrawl after
the sixth in each month
on bank accounts with
lower than us$350 - or
the colones equivalent -
average monthly balance.
William Hayden, general
manager of the BN said
the move is part of the
banks plan to better
customer service and to
reduce the lines at the
branches by making it
more attractive for
customers to use the
ATMs.
The other state bank,
the Banco de Costa Rica,
is continuing to charge
customers a ¢52 colones
(us$0,10) fee for each
withdrawl after the
fifth in each month on
balances below the
us$350.
The other state bank,
Banco Popular, does not
charges its customers
for use of the ATM
regardless of the
account balance and the
number of withdrawls.
The private banks are
part of the ATH network
- separate from the
networks used by each of
the state banks - and do
not charge for the most
part any fees for the
use of the ATM,
depending on the card
issuer. For instance all
ATH ATMs do not charge a
fee for Scotiabank and
Interfin cards.
The ATH machines
operated at Scotiabank
and Interfin do not
charge a fee for foreing
cars, however, the
foreign card issuer may
charge an "international
transaction" fee to its
customers.
If withdrawing funds
with a foreign card at
an ATM in Costa Rica it
is best to withdraw in
US currency and not get
caught in the differing
exchange rates between
the local and foreign
banks. Most ATMs offer
the choice of Colones of
US dollars withdrawls.
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