Nicaragua Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in nicaragua, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Methods of Payment

For commercial transactions, requiring cash in advance or negotiating a letter of credit is advisable until a payment track record is well established. Collection agencies are not common in Nicaragua. Visa and Mastercard are widely accepted, and many businesses also accept American Express. Online banking transfers and payment gateway apps have seen transaction growth, but debit cards remain the most frequently used payment method for electronic payments. The April 2025 “Regulation for Financial Technology Payment Service Providers (PSP) and Virtual Asset Service Providers (PSAV)” regulation permits PSAVs to exchange virtual assets with fiat currencies, transfer virtual assets, and maintain custody of virtual assets, but there is no widespread use of cryptocurrency.

For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.

Banking Systems:

See the Investment Climate Statement website for an overview of the financial sector.

Foreign Exchange Controls:

There are no foreign exchange controls. See the Investment Climate Statement website for an overview on foreign currency transactions.

U.S. Banks and Local Correspondent Banks: 

The banks in Nicaragua listed below have correspondent relationships with banks operating in the United States. However, many of these relationships have been strained due to the political crisis, growing international sanctions, and recent legal changes. Reforms in 2021 to the consumer defense law effectively adds “the State” as a consumer and forces local banks to justify to the bank superintendent the denial of services to any type of user, including to “the State” and sanctioned entities. Nicaragua is “off cover” for the Export-Import Bank of the United States (EXIM Bank). Accordingly, EXIM Bank will not consider routine transactions for Nicaragua.

  • Banco de la Producción, aka BANPRO
  • Banco Lafise, aka BANCENTRO
  • Banco de América Central, aka BAC
  • Banco de Finanzas, aka BDF
  • Banco Ficohsa Nicaragua
  • Banco Avanz

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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