DEMAND FOR UPDATED BANK INFORMATION DATE CHANGED in Costa Rica

ANOTHER WTH Costa Rica!!!!

Don't you just love how "well" Costa Rica "communicates" such CRUCIALLY IMPORTANT information?!?!?  (NOT!!)  EVERYTHING in the past (well, that actually GAVE DATES) said this was REQUIRED to be completed BY Tuesday - December 31, 2013 (or risk accounts being closed) but NOW they're SUDDENLY saying we MUST have it in BY THIS Friday, December 20, 2013 (well - actually they gave us till December 22 - but that's a SUNDAY and banks are NOT open on SUNDAY in Costa Rica!!  Heck, few are even open on Saturday!)!!

This campaign to collect our information started in September and to date, few banks even have the information on their websites, let alone on their home page (as if it's not something real important) and EVEN THE bank association that released this DEMAND - Asociación Bancaria Costarricense - ASOBanca.fi.cr - does NOT have it on their Homepage!!!

Because I did not take the last demand seriously, I experienced first hand back in 2009, the closing of my business accounts with Banco Nacional as well as my account with what's now CitiBank (this one they wouldn't even let me get my $40 in the account OUT - till I provided the proof of where my $$ was coming from and it finally dwindled away after they started imposing monthly fees on the account.  If this wasn't a scam I don't know what was!!!).

So HEED the warning!!

The last go-around, if your source of income is not clear cut (like Social Security, a pension - something you can bring a document in for) or for Corporations, we HAD to get a legal letter certified by a CPA.  The price for this seems to range from $40-$75. 

The person I've shared with others that was not charging the higher gringo rate (why is it SOOO MANY Tico's ASSume that ALL gringo are rich???) is:

Franklin Matamoros
(8-376-0223 / FMatamoros@gls-ca.com)
Escazu - Plaza Itzcazu # 217

His name was given to me by my Tico brother Frank Chicas Hernandez who is an old friend of his and I have shared his information with numerous people that have used him and been happy.  I believe he works for a company but he does things "on the side" (I'm sure for less $$).  I heard that HE does NOT speak much English but his wife does, so she can help. (I'm going to contact him to get updated info on price for this letter and the English situation)

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BANK ASSOCIATION ISSUES ULTIMATUM ON UPDATING BANKING DATA

The nation's banking association is warning that accounts may be closed if customers do not show up, fill out a form and provide income information to their local institution. This is the word from the Asociación Bancaria Costarricense - ASOBanca.fi.cr , which said Monday that it instituted a campaign to update bank accounts last September. The campaign appears to have been very low-keyed since none of the institutions involved have any mention of it on their Web sites and few persons have heard of it. The announcement said that Sunday would be the last day for bank account holders to do so. Since banks are not open Sundays, Friday appears to be the final day. A news story, published in the financial section of  La Nación Sept. 13, said that the deadline was Dec. 31. An Internet search also showed a news story in El Financiero and CRHoy about the same dates. In a news release Monday the banking association said that response to the request to update the information on the accounts had been luke warm. The release gave no numbers but did quote Gilberto Serrano Gutiérrez, association president, as saying the update would only take about 15 minutes at the local bank. He also is the long-time general manager of Banco Lafise. In the CRHoy article he was quoted saying that only those who have changed their address, telephone number or other personal data need make an update. By contract, the news release Monday said that all bank account holders must do so.

The requirement stems from a regulation issued by the Consejo Nacional de Supervisión del Sistema Financiero directed to all the institutions subject to oversight by the Superintendencia General de Entidades Financieras. Neither of these institutions make any mention of the requirement on their Web sites. In addition to filling out a "Know Your Customer" form, the banks will require account holders to provide financial information, said the association release. For an individual, this may be salary information or other evidence showing where funds originate. Corporations appear to be required to show documents certified by an accountant. The association says that bankers are ethically bound to keep this information secret.  In the case of U.S. citizens, a recent agreement between Costa Rica and the United States means the information will be available to the U.S. Internal Revenue Service and the Ministerio de Hacienda's tax agency. The purpose of the banking rule is to spot possible  laundering, terrorists, tax cheats or shady deals. A.M. Costa Rica reported in 2009 on bank efforts to know their customers. That is when many expats were haled into their local bank office to provide information on their incomes. There were a lot of problems when bank workers seemed to exceed the requirements, demanded additional information and closed some accounts.

SOURCE:  AMCostaRica.com   December 17, 2013

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Please share this link with EVERYONE you know that has a bank account in Costa Rica!!!
LivingLifeInCostaRica.blogspot.com/2013/12/GetUrBankInfoInNOWCR.html

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