Opening a Bank Account in Costa Rica

Understand what is required to open a bank account in Costa Rica...

Each bank has a unique process for opening an account, so it is best to check on the bank's website to confirm which documents are needed. These documents usually include:

  • Notarised copy of passport
  • Reference letter from bank in country of origin
  • Minimum deposit amount
  • Proof of address, for example, a recent utility bill

Both savings and checking accounts are available, although opening a savings account is easier. Some banks require that the person is a Costa Rican resident in order to open a checking account.

Accounts can be opened in US dollars or colones. Many foreigners keep their bank accounts in dollars to avoid losing money if the colón is devalued.

Private banks are more likely to have English-speaking tellers than public banks.