One question I still hear over and over is whether you should use colones or U.S. dollars when you travel to Costa Rica. Or, more often, “can I use U.S. dollars in Costa Rica?”
Growing up within driving distance from Canada, it wasn’t unusual for us to interchange our money with Canadian. We’re close to the border, so I’m not sure how well Canadian money fares in Arizona—who knows?
The first time I visited Costa Rica, it never once occurred to me to use my U.S. dollars there. Because you see, Costa Rica isn’t in the United States.
Using Your U.S. Dollars in Costa Rica
As with everything, times have changed. With tourism being what it is in Costa Rica, it’s not uncommon to see many businesses accepting U.S. dollars. Many hotels take U.S. dollars as payment. Some establishments may even prefer it. Dollars are an investment. In Costa Rica, bank accounts are available in both colones and dollars. So–is this a free pass to use only your U.S. currency?
I’ve never been okay with using U.S. dollars in Costa Rica unless it’s specifically requested. It feels presumptuous to me and quite frankly, about as classy as flip-flops at the office. In other words–I’m comfortable and don’t want to make the effort.
Now, since it’s insanely easy to get a hold of Costa Rican colones, there’s no excuse not to. Years ago, you’d have to order your foreign currency from AAA, get traveler’s checks (remember those?), or wait in line at a Costa Rican bank (still a good choice). However, now you have more options available, so unless you plan on spending your entire time hidden in an all-inclusive resort (and by the way, shame on you) you’re going to want colones.
How to Get Costa Rican Colones
The easiest and fastest way to get colones is using an ATM in Costa Rica. There’s no mystery to the ATM, it’s identical to the one you use at home, and you even have the option of English. You’ll be able to choose from U.S. dollars or Costa Rican colones. Just make sure you’re aware of the fees you’ll incur with your specific credit card or debit card. If you’re using a debit card, talk to your bank before you leave. Don’t assume a debit card will automatically work in Costa Rica, and I don’t recommend it over a credit card since it’s attached to your personal bank accounts. However, that’s a personal decision for you to make.
Using an ATM in Costa Rica is safe, but stay with one of the national banks, like Banco de Costa Rica (BCR) or Banco Nacional. BCR has an app I use on my phone to look up the exchange rate. Also, use common sense–utilize the ATM during daylight hours in a safe location. No waving your cash around.
Another way of getting colones, and the one that will give you the biggest bang for your buck, is to change your money at a bank in Costa Rica. Be sure to have your passport with you, or they will not process the exchange. Have your phone number handy and your hotel’s name and address, just in case they ask. This is the smartest way to do it and you’ll get the best exchange rate. However, the line could be long. Tip: smaller bills are more widely accepted at the bank. Try using 10s, 20s or 50s. They’re also not fond of ripped, wrinkled, written on or otherwise damaged bills.
Unfortunately, sometimes the line at the bank is long. Some banks allow you to take a number, and you’ll wait in a seated area until your number is called, or it comes up on the monitor. Other times you’ll just wait in line until the next teller is free, or their light comes on telling you they’re available.
The third and least popular option is the currency exchange booths you’ll find at the airport, both stateside and in Costa Rica. The exchange rate at these spots is poor and on top of that, you’re charged a fee. This would be my least favorite way to go, but in a pinch, it works, especially if you just want to exchange just a few dollars to have something in your pocket. Maybe you’re landing late at night and want a few colones before your plane to Costa Rica takes off. These things happen all the time, so if you’re less concerned with the fees and more worried about not making it to a bank, this is an option. Usually, if you keep your receipt, you can switch your money back without a fee on the way home.
You’ll also find currency exchange booths in the baggage claim area of Juan Santamaria airport in Costa Rica. They will ask you for your email address and that stays in their computer system making it easy for you to do it all over again if you return to Costa Rica. Another tip: if you’re worried about having colones for a cab, know that you can prepay your cab inside the airport, so you will not need colones just for that.
When you leave Costa Rica, there are currency exchange booths at SJO airport near gates 5, and gates 9-10 for you to get your local currency back.
It’s Easier With Colones
If you’re determined to use your U.S. dollars no matter what, then I’m probably not going to change your mind. But…if you’re going off the beaten tourist path and want to have some real fun, having Costa Rican colones is just easier. And cooler.
Who wants to try to use U.S. dollars in the marketplace? Or to make a drink run? Or get an ice cream at POPS? Sample pastries and other delicious street food? Trying to use dollars is just rude and you’ll look ridiculous in these situations.
You’ll also want colones if you plan on using public transportation. Some restaurants will only accept colones, especially if you’re outside tourist zones or San Jose. And why wouldn’t they? You’re in Costa Rica, after all.
So, do the right thing.
Check the current day’s exchange rate online, or with the BCR app. For the time being, you can simplify it by going 600 colones = $1.00. In other words, 1,000 colones is just under $2.00. 10,000 is just under $20.00 and so on.
A note about Costa Rican coins: they add up quickly. And they’re also heavy. If you end up with a lot by the end of your trip, you might want to donate it to a local cause. There are also charity boxes set up throughout SJO where you can deposit change–I think that’s a really cool idea.
You’ll find that your Costa Rican colones will come in extremely handy, and will also be respectful to your Costa Rican hosts.
Thank you, for doing your blog. My wife and I are going in a couple of weeks from Anchorage Alaska.
Brad
Hi Brad, I’m so glad you found the blog! I hope you and your wife have a lovely time in Costa Rica, it’s beautiful as I imagine Alaska must be. I would absolutely love to hear how your trip goes. Come back and comment on what you discover in Costa Rica. Safe travels!
Hi Sue,
Marilou and I are going to San Jose Costa Rica for the first time in May 2019. I am going for Dental work. I found your information helpful. Thanks
Yay! I’m glad to hear you’re going to Costa Rica, hope you both have a wonderful time. I’ve had dental work done in Costa Rica and have nothing but good things to say about it. The cost of crowns and bridges (and even whitening) is significantly less than what you pay in the States. I hope all goes well for you and you fit some fun in between dental appointments!
Hello- you mentioned exchanging money online if you just want to have some. Are there any websites you suggest to exchange dollars for colones? Thanks
Hello, there! Getting Costa Rican colones now is really easy by just using an ATM in Costa Rica. You can withdraw in either dollars or colones and the ATM can be used in either English or Spanish. However, if you really feel more comfortable getting colones before you leave, there are a few options. If you live in a big city like New York, ask your bank if they can order foreign currency. You can also use the currency exchange at the airport. It IS more expensive to do it this way…the rate isn’t as good and they charge a fee. However, it’s a good option in a pinch. It’s certainly better than not having any colones at all if you’re arriving late at night and feel better with colones on hand. In smaller airports, like mine in Albany, NY, they’ve completely done away with the currency exchange kiosk since the pandemic.
Regarding your question about ordering currency online, I have used Travelex in the past, but that appears to not be in use anymore unless you’re in the UK. You can, however, order foreign currency from Bank of America, Wells Fargo (I believe) and a company called Ceifx. Honestly, I would use this as a last resort. Your very best options are to get cash from an ATM or at the bank in Costa Rica. A few credit cards don’t change a foreign transaction fee, such as Capital One Venture. If you go to a bank and do the exchange in person, make sure you take your passport, and know your phone number and the address of your hotel if they ask, and they usually do.
Hi Sue
What are the risks using a debit card in CR ?
Hi Liz! Before I answer your question, how do YOU feel about using your debit card when traveling? If you’re wary, then you have your answer. Yes, debit cards are accepted in Costa Rica, or can be used at ATMs to withdraw cash, but it’s wise to speak to your bank or credit union before you get on a plane. They’ll be able to tell you what fees are associated with using your debit card abroad, and what to do if you have a problem. That said, I don’t use a debit card when I travel in Costa Rica, or anywhere else. Debit cards are associated with your personal checking and savings accounts, so many people feel uncomfortable using them. A credit card, on the other hand, isn’t directly linked to your personal banking. It also offers additional security by way of fraud monitoring. Plus, you can always use a card that doesn’t charge foreign fees, such as Capital One Venture (no, I’m not associated with them).
Nowadays, most credit cards don’t even require you to set a travel advisory (although I’d check and make sure first, to be safe). Your best bet is probably a combination of colones in cash, your credit card(s), and a backup card. If you’re changing dollars to colones at the bank, take your passport and know your hotel’s address. If you’re using an ATM, use one in a good area (or a shopping mall) and one associated with a major bank such as Banco de Costa Rica (BCR) or Banco Nacional de Costa Rica. You can use the ATM in either English or Spanish.
Over the course of the last couple of years, colones have switched from paper to mylar composition. I wonder if US banks would have the newer currency–paper is only accepted at banks, if I am not mistaken.
Hi Phil, I’ve never exchanged dollars for colones at a U.S. bank, but maybe that’s an option in larger cities. And yes, you’re correct, the older paper bills are no longer accepted, so if anyone is still in possession of these bills, it’s worth a trip to a Costa Rican bank to see if they’re still exchangeable. The U.S. airport currency exchange booths should be current with these changes as well, and may even exchange any old bills you have. On a recent trip to Switzerland, I was able to exchange some old paper Swiss Francs at the currency exchange booth at JFK which was extremely convenient and time-saving.