Overview
Accommodations
Outdoor Recreation
Beyond Tourism
Sights and Activities
Planning Your Trip
Basics
The chart below is based on August 2008 exchange rates between local currency and Australian dollars (AUS$), Canadian dollars (CDN$), European Union euro (EUR€), New Zealand dollars (NZ$), British pounds (UK£), and US dollars (US$). The unit of currency in Costa Rica is the colón, which is divided into 100 céntimentos, though coins are becoming less useful in Costa Rican currency. Paper notes circulate in the following amounts: 50, 100, 500, 1000, 2000, 5000, and 10,000. Check the currency converter on websites like www.xe.com or www.bloomberg.com for the latest rates.
As a general rule, it’s cheaper to convert money in Costa Rica than at home. While currency exchange will probably be available in your arrival airport, it’s wise to bring enough foreign currency to last for at least 24-72 hours.
When changing money abroad, try to go only to banks or casas de cambio that have at most a 5% margin between their buy and sell prices. Since you lose money with every transaction, it makes sense to convert large sums at one time (unless the currency is depreciating rapidly).
If you use traveler’s checks or bills, carry some in small denominations (the equivalent of US$50 or less) for times when you are forced to exchange money at poor rates, but bring a range of denominations since charges may be applied per check cashed. Store your money in a variety of forms. Ideally, at any time you will be carrying some cash, some traveler’s checks, and an ATM and/or credit card. All travelers should also consider carrying some US dollars (about US$50 worth), which are often preferred by local tellers.
Traveler’s checks are one of the safest, most convenient means of carrying funds. American Express and Visa are the most-recognized brands. Many banks and agencies sell them for a small commission. Check issuers provide refunds if the checks are lost or stolen, and many provide additional services, such as toll-free refund hotlines abroad, emergency message services and assistance with lost credit cards or passports. Traveler’s checks are accepted in more touristed areas. Ask about toll-free refund hotlines and the location of refund centers when purchasing checks, and always carry some cash.
Where they are accepted, credit cards often offer superior exchange rates—up to 5% better than the retail rate used by banks and other currency exchange establishments. Credit cards may also offer services such as insurance or emergency help and are sometimes required to reserve hotel rooms or rental cars. MasterCard and Visa are the most frequently accepted; American Express cards work at some ATMs and at AmEx offices and major airports.
The use of ATM cards is widespread in Costa Rica. Depending on the system that your home bank uses, you can most likely access your personal bank account from abroad. ATMs get the same exchange rate as credit cards, but there is often a limit on how much money you can withdraw per day (usually around US$500). There is typically a surcharge of US$1-5 per withdrawal.
Debit cards are as convenient as credit cards but withdraw money directly from the holder’s checking account. A debit card can be used wherever its associated credit card company (usually MasterCard or Visa) is accepted. Debit cards often also function as ATM cards and can be used to withdraw cash from associated banks and ATMs throughout Costa Rica.
The two major international money networks are MasterCard/Maestro/Cirrus (for ATM locations ☎+1-800-424-7787 or www.mastercard.com) and Visa/PLUS (for ATM locations ☎+1-800-847-2911 or www.visa.com). Most ATMs charge a transaction fee that is paid to the bank that owns the ATM.
If you run out of money while traveling, the easiest and cheapest solution is to have someone back home make a deposit to your bank account. Otherwise, consider one of the following options.
It is possible to arrange a bank money transfer, which means asking a bank back home to wire money to a bank in Costa Rica. This is the cheapest way to transfer cash, but it’s also the slowest, usually taking several days or more. Note that some banks may only release your funds in local currency, potentially sticking you with a poor exchange rate; inquire about this in advance. Many banks in Costa Rica require that you open an account before they accept a bank money transfer. Money transfer services like Western Union are faster and more convenient than bank transfers—but also pricier. Western Union has many locations worldwide. To find one, visit www.westernunion.com, or call in Australia ☎1800 173 833, in Canada and the US ☎+1-800-325-6000, or in the UK +44 0800 833 833. To wire money using a credit card (Discover, MasterCard, Visa), call in Canada and the US +1-800-CALL-CASH, in the UK ☎+44 0800 833 833. Money transfer services are available to American Express cardholders.
In serious emergencies only, the US State Department will forward money within hours to the nearest consular office, which will then disburse it according to instructions for a US$30 fee. If you wish to use this service, you must contact the Overseas Citizens Services division of the US State Department (☎+1-202-501-4444, from US ☎888-407-4747).
The cost of your trip will vary considerably, depending on where you go, how you travel, and where you stay. The most significant expenses will probably be your round-trip (return) airfare to Costa Rica (see Getting to Costa Rica: By Plane) and bus pass. Before you go, spend some time calculating a reasonable daily budget, so you’ll know what to expect when you arrive.
To give you a general idea, a bare-bones day in Costa Rica (camping or sleeping in hostels/guesthouses, buying food at supermarkets) would cost about US$18 (¢9300); a slightly more comfortable day (sleeping in hostels/guesthouses and the occasional budget hotel, eating one meal per day at a restaurant, going out at night) would cost US$30 (¢15,600); and, for a luxurious day, the sky’s the limit. Don’t forget to factor in emergency reserve funds (at least US$200) when planning how much money you’ll need for your trip.
Some simple ways to save money include finding opportunities for free entertainment, splitting accommodation and food costs with trustworthy fellow travelers, and buying food in supermarkets rather than eating out. Bring a sleepsack to save on sheet charges in hostels and do your laundry in the sink (unless you’re prohibited from doing so). Museums often have certain days when admission is free; plan accordingly. If you are eligible, consider getting an ISIC or an IYTC ; many sights and museums have reduced admission for students and youths, but often, only if you have proof of your status as a student. For getting around quickly, bikes are the most economical option. Don’t forget about walking, though; you can learn a lot about a city by seeing a place on foot. Drinking at bars and clubs quickly becomes expensive. It’s cheaper to buy alcohol and imbibe before going out. That said, don’t go overboard. Though staying within your budget is important, don’t do so at the expense of your health or a great travel experience.
As practices, tipping and bargaining in the developing world are quite different from what you might be accustomed; there are many unspoken rules to which tourists must adhere. Tipping is not particularly widespread in Costa Rica. Restaurant bills already include a 10% service charge as well as the 13% sales tax on all goods and services. In smaller restaurants frequented by locals, tipping is rare. Tour guides appreciate something extra; small change is appropriate for porters in hotels and restaurants. Taxi drivers do not expect to get tipped. In general, particularly good service may deserve an extra tip of 5% or so.
At outdoor markets, handicraft markets, and some handicraft shops, bargaining is expected and essential. Prices at supermarkets and most indoor stores are not negotiable. Bargaining for hotel rooms is often a good idea, but only at cheaper establishments, and more in the low season (or if the hotel isn’t full). Taxis may charge outrageous fares if they know that you are a tourist, so it is better to bargain if you know what the fare should be.
There is a 13% sales tax in Costa Rica. In addition, restaurants add a 10% service charge on all bills. There is also a 3.39% tourism tax in addition to the sales tax on hotel rooms. Usually these charges will be included in the prices posted, but ask beforehand to be sure. Often Costa Rican restaurants will include two price columns: one with tax-inclusive prices and one without.
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For 52 years, we have published the world’s favorite budget travel guides, written entirely by students and updated every year. With pen and notebook in hand and a few changes of underwear stuffed in our backpacks, we spend months roaming the globe in search of travel bargains.
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