Exchanging money is simple, but do it at the Hotel, banks take time and never exchange money on the Black Market
When exchanging your money, you can either utilize the services at many of the Costa Rica banks, or what we like to suggest, is the services of your hotel – most will exchange your money providing that you are staying there.
The rate they offer usually is be a bit below that offered by banks, however, changing money at the local banks requires plenty of time due to bureaucratic handling procedures. At the hotel, it usually takes about 2-3 minutes once you get to the attendant.
The date of this post the bank’s exchange rate 588 colons to one US dollar and most hotels figure on around 550-560 colons to one US dollar
Beware: There are several money exchangers that offer their services around the downtown area of San Jose, as well as at the international airport. Several of these companies present themselves as legitimate business practices, however, as the majority are not and they will rip you off for the exchange rate. Generally speaking, I do not suggest you take advantage of these services.
NEVER, let someone talk you into exchanging it on the Black Market or street vendor, you will be asking for trouble.
While the exchange rate might be enticing, problems are common and little, if any, recourse MAY be available in the event you have a serious problem. But don’t count on calling the police for fast action. If you do have problems, it may take the police 1-3 hours just to get there. And if you are not savvy with the exchange rate, and watch the bill counting, you may get short changed or the old shell game.
The problem is the colon itself because it comes in bills denominated in the following amounts: 10,000, 5,000, 2,000, 1,000, 500, 100, and 50 colones and a exchange of US $100 into colons, you will get a stack of bills.
The coins are in denomination of 100, 20, 10, 5, 2, and 1 colones, and about the only time you will use the coins is for toll fees and/or buying candy, a single piece of fruit, or something like pastries :-).
The best use we have found for coins is for Costa Rica tipping, and if find yourself out of colons, many business will take dollars.
I just spent 3 weeks down there . it was great . I am going back next winter . lived with the locals ate what they ate . healty food lost 5 lbs. very nice freindly people . my money went a long way . the best thing to do is find out where the gringos hang out . they will show you the ropes. in english. If you are not real good in spanish you may not get what the ticas are telling you .
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