Here is all you need to know about handling money in Costa Rica when it comes to local Costa Rican currency, exchanging money and using USD in Costa Rica.
We will go into more details below and we will also talk about how to pay for things if you are Canadian.
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Costa Rica Currency
The Costa Rica currency is the colon (colones plural), named after Christopher Columbus. The Costa Rican currency symbol is ₡, a c with two lines across.
Costa Rica Colon to USD Exchange Rates
The Costa Rica currency exchange rate changes constantly and it can change day to day. What was the exchange rate yesterday, may not be the rate it is used today.
What the exchange rate was this morning, may not be what it is in the evening!
The exchange rate is approximately 500 CRC to 1 USD.
Additionally, the exchange rate is not the same in every bank or financial institution since the colón is not bound to the Central Bank of Costa Rica devaluations.
Since 2006, exchange rates posted by the Central Bank are used as a reference. Costa Rica money exchange rates change daily due to this reason.
Costa Rican Currency Bills and Coins
Colones bills come in 1000, 2000, 5000, 10000, 20000 and 50000. The coins come in 5, 10, 25, 50 100 and 500.
Interesting fact: The 1000 colones bill (red) has the national animal which is the white-tailed deer.
Now bills are all made of plastic substrate, cotton bills are no longer accepted in circulation.
Is USD accepted in Costa Rica?
First thing to know is that US dollars are readily accepted in Costa Rica. This is because Costa Rica is a touristic country with United States citizens as their main tourists and many American companies have headquarters in Costa Rica.
For this reason, tours and hotels are quoted in USD. Some restaurant menus even list prices in USD (common in touristic areas).
Because of this, you do not absolutely have to exchange money before traveling to Costa Rica if you already have US dollars. However, there are some exceptions which I will talk about below.
How Much Cash Should I Bring to Costa Rica?
This depends on how long you will be in Costa Rica, what you plan to do in Costa Rica and where you are going in Costa Rica.
Credit cards are accepted nearly everywhere in Costa Rica so you don’t have to bring a ton of cash. However, you do need to have some cash with you.
This is because there are many businesses that don’t accept credit cards. Common places where credit cards may not be accepted are Osa Peninsula, Tortuguero, Drake Bay, Bijagua, Santa Teresa, Samara and Tamarindo.
For a one week Costa Rica trip, I recommend to bring around $300 dollars in US dollars cash per person to begin with. Then, exchange about $100 USD to Costa Rican colones when you first arrive at the bank or supermarket.
If you need to exchange more, you can do it later on because you don’t necessarily need to go to a bank to exchange money in Costa Rica.
To get more cash, you can go to any ATM to withdraw cash.
Our personal recommendation for using US dollars in Costa Rica: Bring small bills
Bring fives, tens and twentys bills only. It is very hard, almost impossible to break 50s and 100s USD in Costa Rica unless you go to the bank or a casino.
Also make sure all the bills are in perfect condition – no rips, tears, misprints, stains, super wrinkled bills.
Costa Rica is very strict on this and they will not accept any bill with a flaw. I once received a $20 bill from the Costa Rican bank ATM that had a tiny folding misprint and no one would take it except the bank… even though I got it from an ATM IN Costa Rica.
Where Can I Exchange Money in Costa Rica?
For the best exchanges rates in Costa Rica, go to the bank. You can exchange currency in Costa Rica at any of the banks like Banco Nacional, BCR, Scotiabank, etc.
To exchange money in Costa Rica, it is required to bring your original passport.
You can also exchange currency at the airport in Costa Rica. Both the Guanacaste and San Jose International Airport have a currency exchange after immigration. They take other currencies than USD such as Euro and CAD. The exchange rate is so poor though. If you can wait until the bank or supermarket, I definitely would.
Hotels can also exchange Costa Rica currency for you. However this is not every hotel. Usually only the big chain hotels like Marriotts or Hiltons can exchange USD.
You can exchange Costa Rican currency at the supermarket, gas stations or restaurants. If you pay in USD, they will give you your change back in colones. Just make sure to check the exchange rate as they should post a sign somewhere the exchange rate they use.
Should I Use Dollars or Colones in Costa Rica?
Even though US dollars are accepted in the touristic destinations in Costa Rica, there are some instances where it is more favorable to use one or the other.
Pay in USD when things are quoted in USD. These are things like tours, private/shared shuttles, hotels, etc. Usually the more expensive products in tourism. This is the best currency to use in Costa Rica for these kinds of things.
Use Costa Rican colones for smaller priced items quoted in colones. These are supermarkets, souvenir stores, farmers markets, street vendors, taxis, buses, gas stations and toll booths.
That way you don’t need to worry about losing out on the exchange rate or having to calculate to the exact colon if you use US dollars.
But like mentioned earlier, you can pay in US dollars at big supermarkets or gas stations and they will give you back Costa Rican colones.
If visiting anywhere outside main tourist destinations, use CRC.
And lastly, if you visit during low season like September or October, some businesses will give extra discounts if you pay in cash.
Other Places to Pay in Colones
Public buses: the buses that you pay when you get on in San Jose do not accept any currency except Costa Rican colones.
Cross country public buses like San Jose to Liberia or Puerto Viejo have to be paid in advance via credit card or cash (USD or CRC) at the bus station.
Toll booths: Use colones as it’s quoted in colones. They accept US dollars but they do not use a good exchange rate.
Tipping: You can tip in either colones or dollars. Local currency preferred.
Can I Pay in Colones for Something Quoted in US Dollars if I Want to?
Sometimes. It depends on the company. Some may, some may not. You will need to ask. However, the standard currency in tourism is the USD.
To check the official exchange rate of the day, it is called “tipo de cambio” and you can check official exchange rates in the link.
Can I Use Canadian Dollars or Euros in Costa Rica?
Canadian dollars, Euros, or any other sort of foreign currency besides USD are not accepted in Costa Rica.
Not all banks accept or exchange Canadian dollars or Euros either, very few do. Scotiabank and sometimes Banco Nacional usually are able e to exchange currencies other than USD.
When you are in Costa Rica, pay with credit card for as many things quoted in CRC so then it will convert directly from CRC – CAD using the exchange rate from the Central Bank of Canada. Make sure you have a credit card (Visa is the most widely accepted) that doesn’t have any foreign transaction fees.
ATM Use
You can find ATMs throughout Costa Rica. They are in English and Spanish and you can withdraw both Costa Rican currency and USD.
All banks have an ATM and they are available 24/7. We recommend to withdraw money during the day and be cautious of people hovering about.
Take great care of protecting your PIN and do not forget to remove your card when finished.
What Credit Cards are Accepted in Costa Rica?
These major credit cards are accepted in Costa Rica: Visa, Mastercard and American Express. The exception is American Express which is accepted only in certain places, so make sure to have a Visa handy.
Visa is the most widely accepted credit card in Costa Rica. Discover card is not accepted in Costa Rica, I have never seen any business establishment accept it.
Important Things to Look Out For When Paying with Credit Card
ALWAYS know which currency you are paying in when using credit/debit card! Why? Sometimes the vendor will ask you which currency you want to pay in: Costa Rican colones or USD.
Make sure to tell them which currency and check the machine before entering your PIN number or pressing the yes button.
However, not all vendors will ask you. The vendor may instead enter the amount to charge in colones instead of USD and that’s a HUGE difference.
So instead of being charged $10 USD, they charge you 10,000 Costa Rican colones which is ~$20 USD. Always ask and make sure you know which currency you’re being charged in!
Debit Cards in Costa Rica
I used my debit card for a couple of years in Costa Rica. However, I don’t recommend it since there isn’t as much protection for debit cards as there is for credit cards.
Furthermore, car rental companies don’t normally take debit cards since the deposit takes 1-3 months to return compared to 72 hours for credit card.
If they do accept it, they’ll have you sign a waiver saying you understand that the using debit card requires a longer time to return the deposit as it’s a “real cash transaction.”
Credit cards offer more security and protection in case it gets stolen, so I recommend to use a credit card in Costa Rica.
Read more Costa Rica travel tips below!
Tips for traveling in Costa Rica on a budget
1 week Costa Rica travel expenses wrap up
How much things cost in Costa Rica
Costa Rica Vacation Checklist
- First time to Costa Rica? Read our First Time in Costa Rica guide.
- Not sure how to move around Costa Rica? Read our How to Get Around Costa Rica guide to find the best transportation method for you.
- Click the link to get our detailed Costa Rica Packing List so you know what essential items to bring.
- Check our Costa Rica destinations map and Costa Rica restaurant map
- Do not forget to purchase Travel Insurance for your trip to Costa Rica.
- Stay connected by purchasing a prepaid SIM Card in Costa Rica.
- Save money with Mytanfeet Deals for tours and hotels and our Costa Rica Car Rental Discount.
sammy says
Hello, I have booked some accommodation and tours online using a Visa Debit card that I wasn’t planning on taking on holiday with me. Would this be an issue?
Would I need to prove pre-payment showing them the card I have paid with?
Thank you for your help!
Sammy
Sammi says
Yes most places will ask you to present the card you used to pay for the reservation.
Bruce Campbell says
You mentioned that they are phasing out paper currency in 2022. We are spending 2 weeks in Costa Rica in February 2022. I was planing on taking some paper Colones with me. Will they still be accepted?
Sammi says
It will depend which ones you have, they’re going to phase out the bigger bills first like the 20,000 but you can go to the bank and exchange your paper for the plastic ones
Josh says
There are some banks in San Jose that will exchange the old bills. Also, for now it is only the paper 20 mil bill that has been removed from circulation.
Two_4_Exploring says
Great blog.
One thing to watch out for is if you are using your credit card and you are given the option to pay in USD rather than the foreign currency. You can be hit with a currency conversion fee and they are separate from foreign transaction fees which are often waived by premium credit cards, but not so with the currency conversion fee. The currency conversion fee is “justified” as a service fee for making your life easier by presenting the cost in your native currency. And usually it will note something like “exchange base + 4%” which means they are charging you 4% to convert the local currency into USD. Technically the vendor is required to inform you of this charge.
Jeff Crookston says
My Citi Costco Visa credit card does not charge a foreign transaction fee. If the exchange rate is around ¢620 and a restaurant tells me that the cost of a meal is either ¢6.200 or $10 and then gives me the option to run the card in colones or dollars, why would it matter which I choose?
Sammi says
In that case if there’s no foreign transaction fee or exchange rate fee, it’s really up to you but if you charge in dollars just check they’re using the correct exchange rate if the menu prices are in colones.
Stewart says
That’s right. People can be scammed when asked if they want to pay in dollars or colones for that very reason.
The best CC I have found are those issued by Pen Fed credit union. No transaction fees and no cash advance fees when using ATM’s in CR(at least at BNCR) where I usually go.
Sandy O says
Hello, We are Canadian so would it be better to have credit card transactions charged in colones? I am wondering if we asked to be charged in USD if that would mean we would be paying the conversion fee from colones to USD – and then again from USD to Canadian $$? thank you
Sammi says
You can ask them to charge you card in Costa Rican colones.
Katie Agren says
So if my hotel asks me to pay in colones vs US dollars for my bill. Which is the better deal, or will they make it even either way? I will be paying with credit card.
Sammi says
If you are from the US, USD is better, that way you won’t get charged an exchange rate or international fee (if your credit card has these) and if the hotel quotes you in USD, its better in USD.
Jenny says
This blog is my go-to for planning my trip to CR. Thanks. We usually get local currency from airport ATMs when traveling. Is there any advantage or disadvantage to getting CR currency from the ATM vs exchanging money at the bank?
Sammi says
Not to my knowledge, you could do either but ATMS do have limits and in some areas, the ATM may not always have money.
Bennett Marcel says
Hi there, this is an awesome place for information. Am I correct to assume that using a visa in Costa Rica and paying in USD would not cause an international currency fee? My chase visa charges 3% but my discover charges 0%. If the original transaction is in USD I would think there would be no fee.
Thanks is advance
Sammi says
My visa credit cards doesn’t charge any international fees or exchange rates, not sure about Discover. I would use your Visa as much as possible anyways since Discover is not readily accepted compared to visa in Costa Rica.
Dianne L Callahan says
Also watch the old currency. We were given a 2000 Colones bill in change. We gave it to a musician as a tip. He wouldn’t take it saying it wasn’t worth anything!
Karen says
Im going to meet a friend in CR and want to confirm the rate before I go. She paid $160 USD for 67,000. Is this good?
Sammi says
67,000 colones and $160 USD? That is too much USD. 67,000 colones is around $117 USD.
Thomas Keith says
No, not that good. You bought 419 CRC for each US dollar. The current exchange rate according to Morningstar is 613 CRC for each US dollar. But it is rare to find a place to exchange for the rate as posted according to Morningstar. For many years the rate has routinely been greater than 500 CRC for each dollar, but currently, Banco de Costa Rica in Costa Rica is 606 CRC for each dollar. Other banks (looking at it another way) are buying USD for 609 CRC. CXI Currency Exchange which is a US company with brick and mortar locations will sell you 557 CRC for each US dollar.
Abhishek Yada says
Nice, was it an easy process at the bank. Did you have to wait in long lines or was it challenging to communicate in English with bank officials.
Sammi says
Not all bank tellers know English so when you go, you can ask if there is an English speaking teller.