How to Exchange Money in Costa Rica
(2025 Traveler’s Guide)
When traveling to Costa Rica, it’s essential to understand how to exchange your US dollars (USD) for the local currency, Costa Rican colones (CRC). While US dollars are widely accepted in touristic places, having colones can help you save on exchange fees and make transactions in more remote areas. Here’s a guide on how to you exchange money in Costa Rica at the best rates during your trip to save you money!
Exchange Rates and Where to Get the Best Deal
The exchange rate between USD and colones fluctuates throughout the year, so it’s important to monitor the rates to get the most value. In 2023, the exchange rate peaked at around 650 colones per USD, but in 2024 it has stabilized between 500-520 colones per USD.
Anything below 500 colones per USD is considered an expensive exchange rate, so try to avoid exchanges at rates below this.
Best Places to Exchange Money
- Banks: The most reliable place to exchange your USD for colones is at local banks. The best rates are generally offered by BAC San José, one of the leading private banks in Costa Rica. This bank has the best service, however the coverage in remote areas or small towns may be limited. Other good options include Banco Nacional and Banco de Costa Rica. These are public banks typically offer competitive exchange rates and charge low fees.
- ATMs: You can also withdraw colones from ATMs across the country, especially in major cities. Keep in mind that ATMs in rural areas may have higher withdrawal fees or be out of service, so it’s best to use them in larger towns or cities.
- Hotels: Some hotels offer currency exchange services, and although the rates are usually a bit less favorable than at the bank, they are often a convenient option when you arrive. Hotel rates are typically about 1% less than the rates at banks.
- It’s important to say that you should check you bills when exchanging them. Foreign bills with small tears or marks may not be accepted for exchange, so always inspect the condition of your notes before using them. This helps avoid any delays or complications with payments.
What to Avoid When Exchanging Money
While Costa Rica is relatively tourist-friendly, there are a few places where you should avoid exchanging money due to high fees and poor rates:
- Airport Currency Exchange: The exchange booths at the airport offer some of the worst rates, as they tend to charge extra fees and provide lower exchange values. It’s best to wait until you reach the city to exchange your money.
- Avoid paying gas or colones bills in USD: Because Costa Rica is very touristics, most stores and places are used to handle USD, however they will charge you a bad exchange rate. If you’re looking for example to pay gas with USD, the best way always is to do it in colones because they will have a big margin to be more profitable from the rate.
How to Pay for Goods and Services
- Small Denominations: When traveling, it’s best to bring smaller denominations of USD, such as $20 bills. While larger bills (like $50s or $100s) are sometimes accepted, they are less common and may be harder to use in smaller towns or for tipping.
- Credit and Debit Cards: Major credit cards like Visa and Mastercard are widely accepted in Costa Rica, although some places may prefer these over American Express (AMEX). However, if you’re visiting more remote areas, cash may be necessary as smaller shops, and local markets might not accept cards. Keep in mind that some merchants will ask for a form of ID, typically a driver’s license, when paying with a credit card.
- Avoid Traveler’s Checks: In recent years, it’s become increasingly difficult to exchange traveler’s checks in Costa Rica, with many merchants no longer accepting them. If you plan to carry additional funds, using credit cards or cash is a safer and more practical option, or even bringing cash from your country to exchange it here.
Tips for Using ATMs
ATMs are another convenient way to get colones, especially in urban areas. However, be mindful of the following:
- Location: ATMs are commonly found in major towns and bank branches, but they might be out of service in smaller towns. It’s best to withdraw cash before leaving larger cities to avoid any inconvenience.
- Withdrawal Fees: Be aware that ATM withdrawals can incur transaction fees, depending on your bank and card provider. Some banks charge higher fees for international withdrawals, so check with your bank before using this option.
- ATM Withdrawal Limits: Limits can vary depending on the ATM, so if you need more cash, you might need to use multiple ATMs. Look for ATMs with the Plus or Cirrus logos, as these are commonly accepted.
Your visit to Costa Rica
You’ll enjoy for sure your visit to this beautiful country, from the warmth of the welcome and people, to the majestic sites and nature you’ll experience. This guide will be of great help to save you some money during your stay and be able to feel safe when negotiating and paying in the country.
While Costa Rica is a relatively cash-friendly country with many places accepting USD, having colones on hand can help you save money and ensure smoother transactions, especially in more remote areas.
To get the best exchange rates, avoid airport booths and focus on exchanging money at reliable banks like BAC San José, Banco Nacional, or Banco de Costa Rica. With a bit of planning, you can ensure a seamless experience and get the most value for your money during your Costa Rican adventure!
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