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​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.

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.​

Causes for Delays in Fund Accreditation

The System of Payments Regulations provides that if a financial entity is having problems checking the collection files it receives, a mechanism may be used to delay fund accreditation for up to two additional working days than provided by law. In view of this, fund accreditation may be extended from T+1 (two days) for up to T+3 (four days).

Delays in Direct Crediting

If a financial entity fails to validate the files it has received through this service, whereby there are funds to be credited to its clients, an extension may be requested in the term for fund accreditation. To use this mechanism, an authorization should be requested by the financial entity to extend said term, so that if a claim were filed for this delay it would not be admissible since the transaction is still being processed.

Delays in Direct Debiting and Checks

If a financial entity receives debiting transactions -whether checks or direct debiting-- to be deducted from its clients’ accounts, and it fails to validate the file received within the timeframe provided in the legal framework, it may request an extension of this term for verification. This means that the financial entity that sent these transactions to be cashed may not credit the corresponding funds to the client depositing the check or requesting the direct debiting, since there is still no confirmation from the receiving entity about the validity of the transaction.These mechanisms should be used by financial entities only in emergency cases, and therefore they are not used very often. You may go to the News section to see financial entities and dates when this procedure has been used, to check if a delay in crediting your funds has been caused by use of these mechanisms.

For questios, write us or call: (506) 2243-3525 / 2243-3759 / 2243-3660