BN And Bancrédito Now Share ATM's
The Banco Nacional (BN) and Bancrédito have
agreed to share their systems and now some
1.5 million customers of both entities can
use the same Automated Teller Machine (ATM)
to withdraw funds from their account.
This is an important move by the state
financial institutions, which have for the
longest time refused to integrate their
systems, requiring customers to use only the
institution's respective ATM.
Missing out in the unification between BN
and Bancrédito is the Banco de Costa Rica (BCR).
The private banks have long shared their
ATM's by way of ATH, like a central clearing
house for ATMs at banks like Citibank,
Scotiabank and HSBC, while the BAC operates
it's own ATM network "Red Total".
Although all plastic is interchangeable at
the private banks, the same is not always
true at the state banks.
For instance, a card (debit or credit)
issued by Scotiabank or HSBC, can be used at
any ATH machine with no fees, the same is
not true for Red Total.
At the state banks the situation complicates
at the BN "servibanca", for instance can
only be used at the Banco Nacional (and now
at Bancredito), but not at BCR ATM's.
The situation is the reason why, at some
retailers, on hand are several credit card
processing machines (datafonos) to accept
plastic from the differing networks.
The agreement between BN and Bancrédito
means a total of 441 ATM locations available
to customers of both financial institutions.
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