The Central Bank of Costa Rica issued a reminder to SINPE Móvil users that if they change their mobile phone line, they should first deactivate the previous number and register the new number with their financial institution, particularly where the SMS channel is enabled for transfers. The central bank noted strong growth in SINPE Móvil usage, with 648 million transactions recorded in 2024 and more than 3.5 million subscribers, including 62.7 million transactions in December 2024. SINPE Móvil operates by linking a mobile number to a customer’s funds account, and while SMS-based use is optional, the Payments System Regulation requires an explicit customer authorisation to move funds through a non-authenticated channel (SMS) and requires participating financial institutions to enable customers, via an authenticated channel, to set the maximum amount permitted for SMS payments. The release also warns that failing to report a number change can expose funds to potential misuse if the old number is reassigned, and notes that the regulation requires financial institutions to provide an SMS deactivation function, with deactivation available across all transactional channels and at least one channel available 24/7 year-round.
Central Bank of Costa Rica 2025-04-30
Central Bank of Costa Rica reminds SINPE Móvil users to deactivate old numbers and register new mobile numbers after line changes
The Central Bank of Costa Rica reminded SINPE Móvil users to deactivate their old mobile number and register a new one with their financial institution when changing phone lines, especially for SMS-enabled transfers. The bank highlighted strong growth in SINPE Móvil, with 648 million transactions in 2024 and over 3.5 million subscribers. Users are warned that not updating their number could lead to misuse of funds, and financial institutions must offer a 24/7 SMS deactivation function.