The Money Exchange in Costa Rica

Since I have spent so much time encouraging people to do business, vacation or even move to Costa Rica, I decided I should spend some time educating them about the necessities before they arrive. So, before heading to Costa Rica on business or pleasure it is a good idea to understand a little bit about their currency and the exchange rate. The official currency of Costa Rica is called the "Colon". It is Spanish for Christopher Columbus who "discovered" Costa Rica in the early 1500’s on his final voyage to the “new world”. At this current time one US dollar is worth just over 500 colones.

The US dollar is widely accepted in Costa Rica and you will get your best exchange rate once you arrive in Costa Rica, so don’t think you need to run to the bank to exchange your money before you arrive. In fact, you get about 30% more for your money by waiting to exchange it in Costa Rica. Two things to be aware of are that US bills should be in good condition and hundred dollar bills are not as widely accepted. Bills in bad shape and hundreds may indicate counterfeits and a better safe than sorry attitude rules.

Of course, good old Visa and MasterCard will get you just about anything you need here as well. One really cool thing about traveling to and spending money in Costa Rica is that for the most part, the Ticos love Americans unlike Europeans who tend to look down on Americans; the people here appreciate them and the business they bring here. Spending your money in a place where it is appreciated is always more enjoyable, especially when you get such as good exchange rate as you do in the beautiful Country of Costa Rica.