Banco Central de Costa Rica


Delays in Fund Accreditation


The timeframes for all of SINPE services for fund accreditation to beneficiaries are regulated by current legal and regulatory provisions. Terms for accreditation are established within each service’s working hours, so that funds must be credited to the beneficiary’s account at the time specified for each service’s operation cycle at most.


Claims for delayed fund accreditation apply to all transactions carried out through SINPE, whenever such funds are not credited to a client within the established timeframe.


 Región de Acordeón

Procedure for Filing Claims

If a client is not credited funds in their account within the established timeframe for any given service, they may file a claim according to the following procedure:


The client should first file the claim with their financial entity, in working days, and within the working hours established by the entity itself, as indicated in the section on money claims.


Should the answer to this claim not be satisfactory to the client, they may file a new claim with the head of BCCR System of Payments Department, enclosing the documents to prove the irregularity in procedure, such as copies of deposit slips, account statements, etc.


Should non-compliance with the terms for fund accreditation be determined, the System of Payments Department will issue a decision, requesting immediate accreditation of the funds, and imposing sanctions as provided in BCCR Organic Law. Moreover, an interest rate on the amount in question will be added from the time the funds should have been credited.


Terms are pre-established for financial entities to credit funds to their clients for each service. However, there are exceptional situations that may delay such accreditation:


Failures in SINPE’s liquidation system.  In this case, fund accreditation will be delayed for as long as the system is down.


Failures in the financial entity’s systems.  Fund accreditation may be delayed by the financial entity for up to two working days after the transaction was effected.


Such situations must be assessed by BCCR and communicated to all participatant financial entities. Financial entities should use the communiqué issued by BCCR to justify before their clients delays in fund accreditation.


For questions

Here  or call:  2243-3525 / 2243-3759 / 2243-3660


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