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COSTA RICA |
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BCR
Offers Cardholders Protection Beginning
Three Days? After Loss of Theft
Cardholders of the Banco de Costa Rica (BCR)
can rest assured that the bank will protect
them against loss, theft and fraud as long
as they have no outstanding balance or are
current with the payments.
The BCR will protect its credit and debit
card customers for up to 90% of the charge
made with a stolen and lost credit card or
if the card was used fraudulently, the
customer having to take the hit on the
balance.
The protection is to a maximum of ¢500.000
colones (us$860) for national cards (cards
that can only be used in Costa Rica),
us$5.000 for international cards and
us$10.000 for business cards.
But there is a catch, the bank was clear in
its message to its customers that the
protection will not apply if they are behind
in their payments. And worse, the protection
begins 72 hours - that is three days - after
the card was reported lost or stolen.
Although the bank just made the
announcement, the protection is retroactive
to last month.
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