The Money Issue – What Should You Do About Money in Costa Rica?

Posted by Nov03, 2013 Comments (0)

costa rica moneyWe all need money to survive in this world. Even Ticos with their Pura Vida philosophy acknowledge a wad of bank notes in your pocket can take you places. Once you’re in Costa Rica, you want to have all your financial affairs taken care of so you can get on with your holiday. Here’s a complete guide to dealing with money in Costa Rica.

Exchanging at the Airport

The first thing you should never do is exchange your money when you touch down at San Jose airport. It’s the worst thing you can do because the rates are so horrific. The rates will leave you out of pocket. Try anywhere, but never use the airport. They can afford to charge such poor exchange rates because they know you’re trapped.

Why Exchange at All?

You don’t even have to exchange US dollars into Costa Rican colones if you don’t want to. The vast majority of stores, in areas where travellers visit, will accept US dollars. You can guarantee yourself a fair deal because the exchange rate between colons and US dollars has remained the same for the last few years.

In short, it’s about 500 colones to one US dollar. The easiest way to make sure you know what you’re paying for something is to hack three zeros off of a standard colon bill and double it. For example, a 5,000 colon bill would equal $10 in US money.

Protect Your Credit Lines

Banks and credit cards make a commitment to protect their customers’ financial details. It’s only right because if they get lax it will let the international fraudsters in. Inform the bank and your credit card companies about your intentions of travelling to Costa Rica.

If you suddenly start withdrawing money from so far away from home they’ll think someone has managed to steal your card details. In the event you get blocked it can be a real hassle to unfreeze your account. The best solution is to not get into this situation in the first place.

Calling Home

Avoid bringing your own mobile phone to Costa Rica. The costs of calling from abroad make it a bad idea. Instead, you can pick up a mobile phone in Costa Rica, with calling card included, for under $50 USD. At the airport, there’s a booth called ICE. This nationalised company will allow you to buy a temporary phone and calling card.

Your money in Costa Rica will go far for calling. The reception is good in most places and you do get good value for money with a Costa Rican phone. We would also recommend a temporary phone for safety reasons. Losing a cheap phone is one thing. Losing an expensive phone is quite another.

Let us know your best tips for saving money in Costa Rica!

Photo credit: Speaking Latino / Foter.com / CC BY

 

 

 

 

 

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Categories : Costa Rica Interest

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