Don't get ripped off with the wrong currency
Costa Rica currency can be obtained at many of the local banks, or at your hotel. Most institutions charge to convert dollars to colones, so be warned that a conversion from one currency to the other will not be free. It is usually recommended to exchange money at your local hotel, as bank currency conversions typically last from 30-60 minutes due to bureaucratic policies. In San Jose, there are several institutions which offer currency conversion. While these companies may seem enticing (particularly with the generous exchange rate), there have been numerous problems with these organizations, and little recourse is available, should something go wrong with a transaction.
There are also some places in Costa Rica which will accept the U.S. dollar as adequate compensation. These places are typically only located in the larger cities, and will typically charge more for their services. Outside of the major cities and towns, it is rare to find someone willing to sell a good or service for a U.S. dollar. It should be noted that Costa Rica, unlike its neighboring countries in Central America, is typically more expensive to purchase goods or services in, which is a result of the heavy ecotourism income. Many travellers are surprised to find that goods and services cost about the same amount as in the U.S.
Costa Rica currency is not a wise investment opportunity. Thanks to the Costa Rican government's ritual devaluation of the colon, there are many other currencies in the world which would be a much wiser investment than the colon. Checking foreign converter information for the colon can yield values as low as 1 dollar to 500 colones, depending on the current value of the colon.
Costa Rica currency can also be charged to a number of international credit cards, such as Visa and American Express. Typically, credit cards are only accepted in the larger cities and stores, but most hotels and fine restaurant accept all major credit cards. Many companies are currently trying to decrease the reliance on colon transactions, and instead are trying to push towards using credit cards for most purchases.
With the approximately 1.1 billion dollars worth of tourism transactions taking place in Costa Rica, many of those transactions in the country are in colones. Although certainly an inconvenience for most travellers, the colones is a necessary item when performing goods and services transactions in Costa Rica. No matter what your destination may be in the beautiful country of Costa Rica, only the colon will allow you to reach it.
|
