Money While Traveling - What Currency to Bring on a Costa Rican Holiday

Navigating currency options while traveling in Costa Rica is a common concern for many visitors. Understanding how to use cash or credit, finding accessible ATM locations, and ensuring safety are all crucial aspects of trip planning. Let's explore these important considerations to ensure a smooth and worry-free experience in this captivating destination.

You’ll be pleased to know that the Costa Rican Colon or Colones and the American Dollar are both universally accepted across the country. There may be a few locations that don’t accept dollars, but the vast majority of restaurants, shops, and most certainly hotels will accept USD currency. This can offer a traveler some added security since they’ll have some familiarity and can decide whether something is fairly priced without too much thought.

However, it’s wise to consider if spending USD is going to cost you more and if you’ll be paying “Gringo” prices. It is common that anywhere in the world, tourists pay a premium, not just in Costa Rica, and certainly within developing countries there can be a stigma that North Americans or Europeans can afford to pay more. Costa Rica is a country that earns the majority of its GDP from tourism, therefore it is an important industry for locals. Many businesses make the majority of their income within a small high-season window. So I think it’s important to consider that locals appreciate your interest in Costa Rica, and your willingness to invest in our economy, since your support helps many people. But no one should feel swindled, therefore it’s best to understand the currency and the local trends.

It will be important to consider that what currency you choose to use may depend on the strength of the dollars next to the colon. For example; the colon is strong right now on this publication date it’s 513 colones per 1 US dollar. That means that spending dollars with street vendors may save you money. But a few months ago, the colon was as low as 460 colones to the dollar, and was better to use colones in the street. Since the exchange often lingers in and around 500 colones to the dollar, it’s an easy conversion, meaning that for a quick exchange in the street, something that costs $20 will be c10,000 colones.

Restaurants and shops can set their exchange rate since offering you the ability to use dollars is a sweet bonus. So I would suggest asking their exchange rate and determining if you should pay in colones or dollars. They can charge either on a credit card so watch out for sneaky owners who may advertise only a colones price on a menu but charge you in dollars. To have the best experience, just ask. In tourist locations, they may even have dollar prices on an English menu and a Colones price on a Spanish menu. It may take a little time on Duo Lingo to be able to read both.

Another popular question is about tipping, do you add a tip in Costa Rica? Tips are extremely appreciated but there is a service fee typically added to your bill. There will be a 13% sales tax amount along with the 10% service fee. If you have received exceptional service it’s nice to add a little more. If you are enjoying tours, and paying for private transportation, you may also want to tip those working on the boat or in the van. They may be hired by a company to offer a boat trip, but as local employees, any tips are greatly appreciated. I have tipped captains and crewmen on several occasions, especially if they were friendly and made the experience special. Since tips can be included in services, though not expected, they are accepted with gratitude.

You may also be asking if it’s safe to carry money. Costa Rica is a safe place to travel, there is a lot of stability in this peaceful Central American country, therefore you can travel almost anywhere and feel welcome, it is safe to bring cash, and paying with cash could allow for certain discounts. But street smarts still go a long way. Since you are a tourist you could be a target, therefore it’s wise not to carry too much cash, have a safe in your Airbnb or hotel, and not leave bags unattended at the beach or in a parked car. If you’re going to a secluded beach or waterfall, you may not want to bring your most expensive equipment or hire a local guide to help you. A local guide will ensure your safety, give you an authentic experience, and inform you of important protocols, the little extra spent towards a local guide can go a long way. It’s easy to get comfortable in Costa Rica because the vast majority of Costa Ricans would give you the shirt off their back if you needed it.

You’ll be able to find ATMs in most locations, especially in supermarkets and banks. There are banking institutions in local beach towns and they will exchange USD for colones. You’ll need your passport to make any bank transaction. Credit cards and debit credits are accepted universally. Canadians beware, Canadian CAD funds or not accepted and may not even be accepted at all branches, so USD or Colones are the way to go, and this goes for other foreign travelers as well.

In conclusion, while both USD and colones are widely accepted, understanding exchange rates and local customs can enhance your travel experience. Whether you choose to use cash or credit, planning and staying informed will ensure smooth transactions and enjoyable travels in Costa Rica. Happy travels.