The system will allows clients to transfer money from one bank to another.
The service, which will be accessed via each banks' website (users must have online banking access), will initially be free of cost; however, as its use grows in the future, the banks may opt to start charging for the services based on their policies.
Source: prensalibre.com
More on this topic
February 2009
Users continue to prefer traditional operations; bankers maintain that in a short time frame, this tendency will revert itself.
Sigloxxi.com publishes an article in its website: "Among the hundred of the most visited places on the internet, and in just half of the count, only three banks are placed: G&T Continental (46), Industrial (51) and Banrural (60).
July 2011
In recent years, electronic transfers have been growing at a rapid pace.
Bank managers agree that the use of electronic banking operations reduces transaction costs, being this the main reason for its growth.
Luis Lara, manager of the Banco Industrial (BI) told Prensalibre.com that the institution expects amount of electronic transactions made by the end of 2011 to exceed those of 2010 when they totaled $1,377 million.
August 2009
Since the service was enabled in December 2008, over 30.000 wires transfers have been done.
In the short term, the GuateACH system will include transactions to all the Central American countries, as well as transfer wires in U.S. dollars.
Luis Lara, Banco Industrial CEO, told Prensalibre.com that "...he expect volume to increase to 80.000 transactions a month. These services will eventually substitute the use of checks".
October 2010
Payments for credit card and services as well as foreign exchange lead user preferences.
Since the service began, growth has been constant; currently more than 130,000 daily operations are performed.
"According to Carlos Melegatti, deputy manager of the Central Bank of Costa Rica, transfers of funds to third parties will soon reach five million annually," reported Nacion.com.
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