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Exchanging dollars to colones....
https://forum.costaricaticas.com/viewtopic.php?f=1&t=35996		 Page 1 of 2
Author:  Booboo78 [ Mon Nov 29, 2010 12:00 am ]
Post subject:  Exchanging dollars to colones....
i know that this topic has been posted on numerous times...but i havent seen anything recently....i will be arriving at the castillo this wednesday and would like to get some advice on what's the best thing to do with my money....i plan on bringing cash with me on the flight and want to know how i should go about exchanging it to colones....i plan on paying dollars for my hotel room and for the girls but will probably pay in colones for food, drinks, taxis, etc....is this the best thing to do? and which places currently has the best exchange rates? i've read in the past its the airport bank upstairs at arrivals, the ins builiding and the colonial...does this still hold true? also does the castillo exchange money as well? if so how good is their rate?? thanks for any info!!
Author:  GoodDayJohn [ Mon Nov 29, 2010 2:30 am ]
Post subject:  Re: Exchanging dollars to colones....
You have the right plan as for what you are using dollars and colones for. I have found that the bank on the second floor of the INS building has one of the best exchange rates. I don't think the Castillo does any exchange.

You may want to exchange some dollars at the departure area at the airport. They have always had a good rate when I've been there, about the same as the INS building bank.
Author:  Whosear [ Mon Nov 29, 2010 3:43 am ]
Post subject:  Re: Exchanging dollars to colones....
I generally pay at the beginning in dollars for a taxi, carry a few hundred in dollars, exchange at the Colonial due to a decent exchange rate and convenience, then may do an ATM withdrawal for colonies. Keep it simple.
Author:  Orange [ Mon Nov 29, 2010 11:51 am ]
Post subject:  Re: Exchanging dollars to colones....
Whosear wrote:
I generally pay at the beginning in dollars for a taxi, carry a few hundred in dollars, exchange at the Colonial due to a decent exchange rate and convenience, then may do an ATM withdrawal for colonies. Keep it simple.

When is the last time you were in CR? I tried exchanging $100 at Colonial Casino cashier/cage in August and was told that they only exchange for players.

BB78,
If you are exchanging more than $1000, you should do it a bank or you'll take a $50+ hit. Take a taxi to a BCR branch downtown or the INS building and do it there. Be forewarned that you will have to wait. CR banks are slow as shit.
Author:  Bktuna [ Mon Nov 29, 2010 12:00 pm ]
Post subject:  Re: Exchanging dollars to colones....
We exchange dollars at the rate our bank uses as a courtesy to clients. Typically we can do $100 to $200 at a time.
Author:  Nhhank [ Mon Nov 29, 2010 3:04 pm ]
Post subject:  Re: Exchanging dollars to colones....
After a trip that I brough minimal cash and used ATM's and CC , I kinda lost track and went abit over buget :shock:
I started to bring the cash I had planed to spend, Change it at the airport bank or one in town ..helps me keep the spending in check... ATM & CC or for emergency use only.... like the last two days of the trip :oops: :oops:
If you use a downtown bank try and sucker someone to go with you,helps pass the time, plus you can blame them if you get robed
You will need your passport to change money at the bank, not just a copy
Author:  Orange [ Mon Nov 29, 2010 3:30 pm ]
Post subject:  Re: Exchanging dollars to colones....
If you are exchanging a large amount of money at a downtown bank, catch a taxi right outside the bank doors to your hotel. There have been times when guys have gotten robbed and think a bank teller may have been involved.
Author:  Cujo's [ Mon Nov 29, 2010 3:33 pm ]
Post subject:  Re: Exchanging dollars to colones....
Still never understood the constant worry of exchanging money.. Aside from taxis and meals or mp's, there's really no need... You can always exchange a hundred a day at SL or wherever...


Cujo
Author:  Nhhank [ Mon Nov 29, 2010 4:11 pm ]
Post subject:  Re: Exchanging dollars to colones....
Lets do some math
Change at the bank.. 511c to 1 us
SL 501c to 1us
Sure that is a $2 per $100
But for a grand it is $20... still not that much but I find it is a pain changing money every day or two.
I an not lucky enough to have cards that do not add a transaction fee so that figues in $13.50 per thousand
So I save $33.50 by going to the bank
So my exit tax is free as well as a few taxi rides
Also what Orange said be carefull... 500,000c is a large stack cuz you will get in 10 mil notes
Author:  InkedNarwhal [ Mon Nov 29, 2010 9:46 pm ]
Post subject:  Re: Exchanging dollars to colones....
GoodDayJohn wrote:
I have found that the bank on the second floor of the INS building has one of the best exchange rates.


Good rates, and my bank in USA only charged me $3 total per transaction, where as in Thailand the Thai bank charges a service fee AND then my USA bank did.
Author:  HikerTom [ Tue Nov 30, 2010 1:11 pm ]
Post subject:  Re: Exchanging dollars to colones....
Cujo'S wrote:
Still never understood the constant worry of exchanging money.. Aside from taxis and meals or mp's, there's really no need... You can always exchange a hundred a day at SL or wherever...


Cujo


I don't understand either, just stay at a place that exchanges money at a good rate (e.g. SL, Amistad, Dunn Inn) and change $20-40 a day for meals, taxis and other small stuff. Use dollars (I only bring 20's and 50's) for everything else.
Author:  Whosear [ Sat Dec 04, 2010 5:20 pm ]
Post subject:  Re: Exchanging dollars to colones....
I've found that the restaurants/bars charge about 30 -40 colones below the bank colony buy rate. I rarely use them. It helps me when I take in an abundance of colones, I'll sell near the buy rate 500 colones right now.
Author:  BondTrader [ Sun Dec 05, 2010 11:53 am ]
Post subject:  Re: Exchanging dollars to colones....
If you have a Charles Schwab account my understanding is that even while outside the country they will still reimburse you for all ATM transaction fees and I also understand they do not charge foreign exchange fees eiither. That should unquestionably be the best deal in town if that is indeed the case.
Author:  TimBones [ Tue Dec 07, 2010 3:22 pm ]
Post subject:  Re: Exchanging dollars to colones....
Quote:
Paying for the hotel in dollars is a good idea. The majority of hotels endorsed by CRT'ers take a bank exchange rate, so there would be a small bank "fee" hidden in the colones rate. The girls are kind of a wild card -- they tend to like hard currency (dollars) but I have seen a girl crying in the HDR because she only had a $100 bill and no one would break or exchange it for her (until I did).

Most girls and taxis use a nominal $1 to 500 colones exchange rate (it's easy to figure in your head), so theoretically you can save a little using colones. However, the rate is so close to 1/500 right now that any savings would probably be eaten up by the exchange fee.

There are SOME mp's and restaurants/bars that will gouge you on the exchange rate to pay in dollars. Using colones or a credit card (charged in colones) is the way to go.

SR


A couple of points and as always, this is just my opinion, but.....

1) I would never, ever change a high denomination bill for a "love contractor" or anyone else for the matter. It is too easy and much lower risk to pass counterfeit U.S. currency in a foreign country. And apparently, CR is awash with counterfeit bills.
2) I would also limit my use of a cc / debit card in CR (as a recent lesson taught me) to just a transaction at a trusted hotel or inside ATM at a trusted location. :D
Author:  Orange [ Tue Dec 07, 2010 5:41 pm ]
Post subject:  Re: Exchanging dollars to colones....
Yes, to be more secure, only use real bank ATM's, not the ones found in stores, bars, etc. There's a lot of cloning going on.
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