Banco Nacional seems to have dropped limits

Banco Nacional seems to have had second thoughts about restricting the withdrawal of colons by the use of foreign debit cards.

A reporter had no trouble withdrawing 200,000 colons, about $374 at the current rate of exchange, from a Banco Nacional automatic teller Saturday.

The same machine unexpectedly displayed a screen Thursday saying that withdrawals were restricted to 50,000 colons at one time but the user could make up to four withdrawals a day.

Also Thursday, a bank representative confirmed the new rule in a telephone conversation.

Bank spokespeople were not available over the weekend.

The rule generated some unhappiness in the expat communities, although it appears that not all automatic tellers had been adjusted for the new regulation.

Many banks have restrictions on dollar withdrawal, but expats in business need some way to transfer easily money from foreign accounts to Costa Rica, and many use automatic tellers.

The Banco National representative said that there were no restrictions on withdrawals from its domestic colon accounts, except the daily limit of 700,000 colons.

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