According to the World Bank Nicaragua is still one of Latin America’s least developed countries, however the country has experienced an economic turnaround. Despite the rate of inflation now being relatively stable, expats still tend to set up their Nicaraguan bank accounts in dollars or euros to avoid any fluctuation, which can both be withdrawn from ATMs around the country.
Bear in mind however that if you are withdrawing from your bank back home, you are likely to be paying some form of international fee which can be fairly substantial.
The main national bank of Nicaragua is Banco Central de Nicaragua (BCN). The main commercial banks are Banco de Fianzas (BDF) and Banco de la Producción (Banpro). The international banks Citibank and Banco Procredit also have branches in Nicaragua.
Online and telephone banking are widely used throughout the country.
The opening hours of most banks in Nicaragua is from 08:30 - 16:00 weekdays and from 08:30 - 12:00 on Saturdays. Just like the schools and government offices in Nicaragua, banks are also closed on public holidays.