www.CostaRicaTicas.com

Summary - old cotton 20k colones bills will be worthless after 2/1/22.

Message to U.S. Citizens: U.S. Embassy San Jose (January 27, 2022)

Location: Costa Rica

Subject: Certain Colones Bills to be withdrawn from Circulation February 1, 2022



On February 1, 2022, the Costa Rican government will be withdrawing ¢20,000 colones bills printed on cotton paper from circulation. This represents an extension from the previous deadline. The old cotton bills are soft and feel similar to U.S. currency. The new ¢20,000 bills are printed on polymer plastic and are smooth with a small, transparent window. (To view images of the new currency, please reference this Message to U.S. citizens which will be posted to the U.S. Embassy website at https://cr.usembassy.gov/u-s-citizen-se ... formation/)


Other denominations:

· ¢5,000 colones bills printed on cotton paper will be withdrawn from circulation on March 1, 2022.

· ¢2,000 colones bills printed on cotton paper will be withdrawn from circulation on May 1, 2022.

· The Central Bank has not announced a withdrawal date for the ¢10,000 and ¢1,000 bills printed on cotton paper.

Didn't they do this some 5-10 years ago? I remember taking in some old bills into the main bank and they exchanged them for the new ones (back then). Or are they changing their bills again?

Maybe I better take what I have to currency exchange in the U.S since will be awhile before I can come back to CR.

Good heads up on the Colones! I have about 300USD in cotton CR bills. Hitting the bank tomorrow!

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Per the Tico Times today- Those living in Costa or who are traveling in Cosa Rica during these dates are encouraged to deposit or exchange any ¢20,000 colones bills printed on cotton paper at a bank as soon as possible, as they WILL NOT BE ACCEPTED AS VALID CURRENCY STARTING February 1, 2022.

This is also applicable for the ¢5,000 colones bills on March 1 and the ¢2,000 colones bills on May 1.

Tried to exchange today. Neither BofA or Chase will take the cotton bills. Their systems are already update to the new bills and they will not take any bill that looks different from the one pictured in their systems! Looks like I'll be holding onto them until I'm in CR again and can hit a Banco!

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If you see me at the bottom, please bring me my running shoes!

So will the banks exchange them after 2/1?

This was published in CRHoy on 29-December
https://www.crhoy.com/economia/no-se-eq ... te-sabado/


Here is a translation of the important statement from the Central Bank.
""It is important to point out that neither at this time nor after next January will these bills lose their monetary value, in such a way that no citizen will lose the value of their bills or their money, since the exchange or deposit of the bills will remain indefinitely in the country's financial entities," said the Central Bank."

(The date date was originally 1-January but later extended to 1-February in honor of the HDR re-opening)

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They will not lose their monetary value. However, they will not be in circulation. Which means you will have to make a trip to a bank to exchange for bills which bartenders at HDR will take.

Anyone who has been to a bank in CR which required an interaction with a teller will know it is not a customer friendly experience. Avoid if possible.

I usually keep a small stash of Colones so my first task in CR does not have to be exchanging money. Enough for taxi and miscellaneous expenses first day. Lately I have been spending the cotton/paper Colones and trying to bring home only polymer Colones.

Keeping more than $100 worth and you are speculating on currency exchange rates. A long-term position in Colones is not something I would recommend.

Ok so checked my bills from last year and then went on BCCR web-site this morning. Those old bills are still in circulation for now (serie As):

https://www.bccr.fi.cr/billetes-y-moned ... irculacion

I had some old bills pre 2009 date in the late 2000s and was able to exchange them for new at the time at BCCR. When they completely phase out the currently "old" bills I would think they would so the same for those of who don't visit very often.

Well, I got stuck with a couple 5k bills after the deadline, do I go to a bank and stand in line for about an hour to exchange them?

Even retired, my time is more valuable than that.

I ended up giving them to one of my fave hoz as a bonus over what I normally pay her after a session, told her I don't have time to exchange them, does she want them?

She snatched them fast and my dilemma was solved...

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