Costa Rica — Banking: Best Banks

Why this matters

Choosing between a private bank (better English support, faster service, higher international transfer fees) and a state bank (broader branch access, simpler non-resident onboarding, more bureaucracy) is a real trade-off that depends on where in the country someone lives and whether they already have residency.

Key facts

• BAC Credomatic is frequently cited as the most accessible private bank for expats, with English-language service, a strong mobile app, and an 'Expat Package' (checking + savings + debit card) with simplified documentation.
• Scotiabank is another commonly recommended private option, offering a 'Visitor Account' openable with minimal documentation (passport, proof of income, proof of address from the home country) and dedicated advisors for international clients.
• Banco Nacional and Banco de Costa Rica (BCR), Costa Rica's state-owned banks, have the widest branch/ATM coverage nationwide (including rural areas) and 100% government-guaranteed deposits, but tend to involve more bureaucracy and longer wait times.
• BCR and Banco Nacional are the banks most consistently reported as allowing non-residents to open simplified accounts using only a passport.
• International wire transfer fees vary meaningfully by bank — commonly cited ranges are roughly $20-40 at Scotiabank, $25-45 at BAC Credomatic, and $35-55 at Banco Nacional (see the International Transfers page).

Steps

1. Match the bank to your situation — If you need broad branch access before getting residency, BCR or Banco Nacional are the most consistently reported to accept passport-only applicants. If you prioritize English support and a modern app, BAC Credomatic or Scotiabank are commonly recommended.
2. Compare international transfer fees — Since fees vary by bank (roughly $20-55 depending on institution), factor this in if you'll be sending money internationally often.

Costs

• International wire transfer fee (varies by bank): Roughly $20-55 depending on the bank

Timelines

• Account opening: Commonly same-day to a few business days once documents are in order (see Opening Account page)

Required documents

• Valid passport
• Proof of address
• Proof of income/source of funds

Common mistakes

• Assuming all Costa Rican banks treat non-residents the same way — state banks (BCR, Banco Nacional) are more consistently reported as accepting passport-only applicants than some private banks
• Not comparing international transfer fees across banks before choosing, given the meaningful spread (~$20-55)
• Choosing a bank based on branch/ATM convenience alone without checking English-language support if that matters to you