Those Hijos de P**a Banks in Costa Rica. Update your bank account now or lose it!

Anybody with a bank account in Costa Rica should have received an email notification from their bank advising them to “actualizar sus datos.“

Actualizar means to bring up to date your details at the bank…

Banco Improsa for example states that:

“Al tener su información personal al día, su banco podrá brindarle un mejor servicio, ayudará a combatir el lavado de dinero y evitará el cierre de su cuenta.”

In real simple English this means that:

“By having your personal information up to date, your bank may better serve you, will help combat money laundering and will prevent the closure of your account.”

Blah! Blah! Blah!

Looks to me like basic customer service skills are seriously lacking in most banks on planet earth these days and, if it’s seriously to “combat” money laundering why would you need that for an account that has a mere $500 in it which is used only for the “quick pass” toll booth device?

Yep! This has little to do with preventing money laundering and it’s as believable as monitoring all phone calls and emails in the U.S. is meant to “combat” terrorism …

In a simply brilliant strategic move which is going to piss off a lot of expats, this actualización must be done before the end of the year – a few weeks away – or, the bank will close your account and issue a check for whatever amount might have been held within your account.

This policy may vary slightly from bank to bank… For example the hijos de p**a en Davienda (formerly HSBC, formerly Banex) want a certified letter from a CPA proving my income which is of course a total waste of time since you can pay some CPA’s to provide the letter with whatever income amount you want inserted.

The process at Banco Improsa was simple and fairly painless. BAC San José seems to be happy with my account as it is…

Of course it would not surprise me if this is something that is being done at the request of the International Rat Society (IRS) in a FATCA related move to try and flush out the gringos who have money stashed in Costa Rica.…

So, if you have not yet “actualizado sus datos”, you’d better get to it …

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Written by Scott Oliver, author of 1: How To Buy Costa Rica Real Estate Without Losing Your Camisa, 2: Costa Rica’s Guide To Making Money Offshore and 3. ¿Cómo Comprar Bienes Raíces en Costa Rica, Sin Perder Su Camisa?

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.