by Rod Hughes

In a short time you will be able to cash a Banco de Costa Rica check at a Banco Nacional branch or deposit in your account in either bank through a Bancredito branch, if the shared technology does not develop any last minute glitches. The new arrangement may make doing business a bit easier although it may not do anything about the long lines at certain times of the month.

The three state banks have embarked on this shared technology for efficiency’s sake and hope to save $1 billion a year while doing it. But that may not be the end of it. A special committee has been created to study a merger of the three entities to compete with the big private banks established here. There may be a paper saving of $90 million from branches they will not have to open to get better nationwide coverage. Banco Nacional general manager William Hayden promised that the merger of services will not result in personnel firings.

By the last week of February, the first step should be up and running. But those who have used the banks are somewhat cynical. One said, “I suppose in many places the lines will be three times longer…”