| Though prices have dropped from their peak of a few years ago, Costa
Rica remains one of the most expensive countries in Central America.
Some prices, especially for upper-range accommodation, are similar to
those in the US, which never fails to astonish American travellers and
those coming from the cheaper neighbouring countries. That said, with a
little foresight you can still travel relatively cheaply
Currency exchange and banks
The official currency of Costa Rica is the colón (plural colones). There
are two types of coin in circulation: the old silver ones, which come in
denominations of 1, 2, 5, 10 and 20, and newer gold coins, which come
in...
The official currency of Costa Rica is the colón (plural colones). There
are two types of coin in circulation: the old silver ones, which come in
denominations of 1, 2, 5, 10 and 20, and newer gold coins, which come in
denominations of 1, 5, 10 and 25. Public payphones do not yet take the
new coins, and you will need the silver ones to make a call; otherwise,
they're interchangeable. Notes start at 50, proceeding to 100, 500, 1000
and 5000. You'll often hear colones colloquially referred to as "pesos";
in addition, the 1000 is sometimes called the rojo (red). The colón
floats freely against the American dollar, which means the exchange rate
varies frequently; at the time of writing it hovers at around 300
colones to the US$1. Obtaining colones outside Costa Rica is virtually
impossible: wait until you arrive and change some at the airport or
border posts. If you miss banking hours then US dollar bills in small
denominations will do.
When changing US dollars into colones, try to avoid Costa Rica's state
banks : the Banco Nacional and Banco de Costa Rica (both with branches
throughout the country; in many towns they are the only banks). Slow and
bureaucratic, they will consume about an hour of your time. It's best to
carry sufficient colones with you, especially in small denominations -
going around with stacks of mouldy-smelling notes may not seem safe, but
you should be all right if you keep them in a money belt, and it will
save hours of time waiting in line. That said, however, if you are doing
a lot of travelling, it's comforting to know that many of even the
smallest end-of-the-world towns now have a branch of at least one bank.
In sharp contrast to the state banks are the efficient and air-conditioned
private banks , the majority of which are in downtown San José. Private
banks can legally charge what commission they like; the norm is about
US$3 per transaction.
Banking hours vary slightly from branch to branch but tend to be Monday
to Friday 8.30am to 3.30pm for state banks and slightly longer for
private ones (which are also sometimes open on Saturday mornings). Most
Costa Rican banks now have ATMs , though despite the fact that they
carry VISA and Plus signs, foreign-issued cards at present only work in
the ATMs of private banks such as Banco Popular, not in those of state
banks such as Banco de Costa Rica and Banco Nacional.
You'll find credit cards especially useful in Costa Rica for making
deposits for hotels via fax and for renting a car. In general, Visa and
Mastercard are widely accepted, although retailers tend to accept only
one or the other. In outlying areas, however, like the Talamanca coast,
Quepos and Manuel Antonio and Golfito, some businesses may levy a six
percent charge for credit card transactions; you may be better off
taking plenty of cash.
Undeniably the safest way to carry money is to use travellers' cheques .
These should be bought in US dollars only - Costa Rican bank staff will
stare blankly at other currencies. However, do not expect to use
travellers' cheques as cash except in mid- or upmarket hotels and
guesthouses which regularly cater to foreigners.
Costs
The high cost of living is due in part to the taxes (18-25 percent)
which are levied in restaurants and hotels, and also, more recently, to
the International Monetary Fund, whose policies, aimed at restructuring
the balance of payments...
The high cost of living is due in part to the taxes (18-25 percent)
which are levied in restaurants and hotels, and also, more recently, to
the International Monetary Fund, whose policies, aimed at restructuring
the balance of payments deficit, have raised prices. Even on a rock-bottom
budget , you're looking at spending US$25 a day for lodging, three meals
and the odd bus ticket. Campers and hardy cyclists have been known to do
it on US$15 a day, but this entails sleeping either in a tent or in
somewhere pretty dire. You'll be far more comfortable if you count on
spending at least US$20 a day for accommodation and US$12 for meals.
That said, bus travel , geared toward locals, is always cheap - about
US$0.25 to US$1 for local buses, around US$4 or US$5 for long-distance
buses (3hr or more). Eating , too, needn't be that pricey, while fruit,
beer and cinema tickets will all seem very reasonable to visitors from
most other countries. Students with ISIC cards may be entitled to some
discounts at museums in Costa Rica. More useful is local student ID,
available to visitors on language courses and other education programmes,
which may get you discounts at museums and theatres.
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