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CRC – Costa Rican Colon

Overview

The payment processing of this currency is considered to be relatively standardised.

Currency Guidelines

Besides the standard information, the full name (written out in full, without initials, abbreviations or acronyms) and the physical full address of the beneficiary are mandatory.

A clear reason / purpose of payment is recommended and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789

Payments in CRC toward Costa Rica

Besides the standard information, it is important to note that the beneficiary’s tax ID (Cedula Juridica or Cedula Natural) is mandatory.

The beneficiary's tax ID must be formatted as "TAXID" followed by numeric code of 10 or 12 digits as described below. There is no space between letters and numbers.

Type of bene ID number length Format Example

INDIVIDUAL

(NATIONAL)

10 DIGITS A ZERO SHOULD BE PLACED BEFORE THE 9 DIGITS OF THE ID NUMBER TAXID0123456789

INDIVIDUAL

(FOREIGN LEGALLY REGISTERED)

12 DIGITS AS INDICATED IN IDENTIFICATION DOCUMENT TAXID123456789012

LEGAL ENTITY/

CORPORATES

10 DIGITIS AS INDICATED IN LEGAL DOCUMENT TAXID1234567890
Payments in CRC outside Costa Rica

Standard information
IBAN format is mandatory (see Appendix VI).

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here

TECHNICAL GUIDELINES

To consult the Appendix(es) click here

Appendix VI: IBAN Application Rules
Additional information

• Available charge option: OUR/SHA/BEN
• Central bank of Costa Rica: http://www.bccr.fi.cr/bccr_home_page/index.html