Countries › Costa Rica › Guide › 10. Capital markets and finance › Deposit guarantee and bank resolution in Costa Rica: ₡6,000,000 per person per entity

Deposit guarantee and bank resolution in Costa Rica: ₡6,000,000 per person per entity

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Last verified: 2026-10-30 · Status: Stable

Ley 9816 of 2020 created the Fondo de Garantía de Depósitos, run by the BCCR, covering deposits at SUGEF supervised intermediaries (except Banhvi and mutuales) up to ₡6,000,000 per person and per entity, principal only, whatever the currency. Banks pay up to 0.15% of guaranteed deposits a year (0.10% fixed plus up to 0.05% by risk). The same law sets a special resolution regime for failing entities, and state commercial banks keep their separate state guarantee.

USD figures use the Banco Central de Costa Rica reference selling rate of ₡454.82 per US dollar published for 29 October 2026 (indicator 318 on bccr.fi.cr), rounded to the cent.

Key facts

Deposit guarantee per person per entity	6000000 CRCLey 9816 art. 22, as of 2026-10-30 · in force
Maximum annual contribution to the deposit guarantee fund	0.15 % of guaranteed depositsLey 9816 art. 17, as of 2026-10-30 · in force
Rate used for USD conversions (BCCR reference selling rate published for 29 Oct 2026)	454.82 CRC per USDBCCR indicator 318, as of 2026-10-30 · in force

The rule

1. The deposit guarantee applies to intermediaries supervised by SUGEF except the Banco Hipotecario de la Vivienda and the mutuales; the resolution regime applies to all SUGEF supervised intermediaries.Ley 9816, art. 2, 2020-02-11 official text · verified 2026-10-30

2. Coverage: all demand and time deposits of individuals and companies, up to ₡6,000,000 per person and per entity regardless of currency, principal only, to be adjusted for inflation by CONASSIF methodology; joint holders share the limit pro rata; on a merger depositors keep separate cover for four months.
Example: ₡10,000,000 deposit: ₡6,000,000 covered, ₡4,000,000 unsecured claim. / US$21,986.72 deposit: US$13,192.03 covered.Ley 9816, art. 22, 2020-02-11 official text · verified 2026-10-30

3. Excluded: bearer deposits; deposits of shareholders, group companies and their relatives to the second degree; of legal representatives, directors and senior managers and their relatives; of supervised entities and their groups; and proceeds of crime declared by final judgment.Ley 9816, art. 23, 2020-02-11 official text · verified 2026-10-30

4. Each contributing entity pays up to 0.15% of guaranteed deposits a year: 0.10% fixed plus up to 0.05% by risk, quarterly within 10 business days after quarter end, debited from its BCCR account; contributions are tax deductible.
Cost to do it: 0.10% to 0.15% of guaranteed deposits a year.
Example: Guaranteed deposits ₡100,000 million: ₡100 million to ₡150 million a year. / US$219,867.20 to US$329,800.80 a year.Ley 9816, art. 17, 2020-02-11 official text · verified 2026-10-30

5. State commercial banks keep the full guarantee of the State, which does not extend to subordinated debt; no holder may own subordinated debt of a state bank above 25% of its primary capital.Ley 1644, art. 4, as reformed by Ley 9816, 2020-02-11 official text · verified 2026-10-30

Worked example

A company keeps ₡30,000,000 (US$65,960.16) at one private bank. If the bank fails, ₡6,000,000 (US$13,192.03) is covered by the fund; the rest is a claim in resolution. Spreading cash over five unrelated supervised banks would put ₡30,000,000 within the guarantee. Deposits at Banco Nacional or Banco de Costa Rica also have the separate state guarantee of Ley 1644 art. 4.

Step by step

Check that the entity is a SUGEF supervised contributor (not a mutual).
Count all your deposits at the same entity together against the limit.
Avoid bearer instruments, which are excluded.
For group treasuries, remember that deposits of group companies of the bank itself are excluded.

Common traps

Interest is not covered, only principal.
The ₡6,000,000 limit is per entity, not per account.
Shareholders and directors of the failing entity are excluded.

Sources

← Factoring and electronic invoices in Costa Rica: assigning receivables and listing invoices as securitiesFinancial consumer protection and credit information in Costa Rica: fraud refunds, disclosure and the SUGEF credit bureau →

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