Are you heading to Costa Rica and don't know what you don't know about money and credit card usage in Costa Rica? That's a scary feeling and I'm here to help you.
Here’s what you need to know about money and credit cards in Costa Rica:
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Currency
The official currency is the Costa Rican colón (CRC), symbolized as ₡.
Banknotes include â‚¡1,000, â‚¡2,000, â‚¡5,000, â‚¡10,000, and â‚¡20,000 denominations.
Coins range from â‚¡1 to â‚¡500
The exchange rate (as of Feb 2025) is $1 USD = 506 Costa Rican Colones
U.S. dollars are widely accepted in tourist areas but expect change in colones.
Credit Cards
Visa and Mastercard are widely accepted but American Express is less common.
Some rural areas or small businesses may not accept credit cards so you should carry cash as a backup and Colones would be appreciated.
You should check your credit card and see if it has foreign transaction fees. If it does then you should look for a card that doesn't. Here is a Forbes Blog about foreign transaction fees.
Then in addition, there is a currency conversion fee. A store or restaurant may ask if you want to pay in US dollars and you should say "No. Thank you." Always pay in colones with your credit card to avoid expensive dynamic currency conversion fees.
ATMs
ATMs are available throughout Costa Rica and dispense both colones and U.S. dollars. Withdraw cash during the day and at a bank for safety. An ATM at the back of a dark convenience store may not be the best place to withdraw cash.
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Tips for Travel
You should notify your bank before traveling to avoid issues with your card. Many cards allow you to log in and update your card on line and let them know that you'll be traveling and what dates. If that doesn't work for you, then you can call the number on the back of your card.
There may be cash discounts at some businesses, but of course you'll have to weigh them against ATM or exchange fees.
I hope this helps you on your trip to Costa Rica. Contact me directly if you would like to chat about it.