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 Post subject: Re: Dollar Headed South
PostPosted: Sat Aug 27, 2022 4:08 pm 
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Isra123 wrote:
In 2019 when I went to the ATM in the INS building the BCR ATM would not let me change more than $200 to colones per day. Is it the same way today ?


BCR was around that... 100 mil colones. Not sure if the limit is the same on all of their machines though...


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 Post subject: Re: Dollar Headed South
PostPosted: Sat Aug 27, 2022 5:06 pm 
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Zeos wrote:
Isra123 wrote:
In 2019 when I went to the ATM in the INS building the BCR ATM would not let me change more than $200 to colones per day. Is it the same way today ?


BCR was around that... 100 mil colones. Not sure if the limit is the same on all of their machines though...

The limits vary by location. Those in more secure locations tend to have higher limits. I regularly get up to c300mil or $500USD at BCR, BAC, and Davivienda in Plaza Mayor, Walmart, or Clinica Biblica. In these places you are less likely to pick up 'followers'.

Also, the currencies available vary by location. At Plaza Mayor, BCR has an outside machine in Etapa 1 (AutoMercado) and an inside one in Etapa 2 (Cine). The inside one dispenses both colones and dollars, at the outside one it is colones only.

The inside ones also allow multiple withdrawals per day.

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 Post subject: Re: Dollar Headed South
PostPosted: Sat Aug 27, 2022 9:34 pm 
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Isra123 wrote:
In 2019 when I went to the ATM in the INS building the BCR ATM would not let me change more than $200 to colones per day. Is it the same way today ?



not sure what u mean by change more than $200 colones per day
but I have used the atm's in front of the ins building this year & have withdrawn 200k-300k colones
not sure if multiple withdrawls are allowed as I don't burn thru money that fast

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 Post subject: Re: Dollar Headed South
PostPosted: Sat Aug 27, 2022 9:52 pm 
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SinCity wrote:
Isra123 wrote:
In 2019 when I went to the ATM in the INS building the BCR ATM would not let me change more than $200 to colones per day. Is it the same way today ?



not sure what u mean by change more than $200 colones per day
but I have used the atm's in front of the ins building this year & have withdrawn 200k-300k colones
not sure if multiple withdrawls are allowed as I don't burn thru money that fast


Apparently some of us do.

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 Post subject: Re: Dollar Headed South
PostPosted: Sun Aug 28, 2022 9:30 am 
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Isra123 wrote:
In 2019 when I went to the ATM in the INS building the BCR ATM would not let me change more than $200 to colones per day. Is it the same way today ?



I don't use that one but other's I've used won't allow more than 100 mil crc per withdraw, (around $150) but when it asks if you want another transaction I say yes and just do it again, I've withdrawn up to 400 mil crc in one standing before (apx $600).

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 Post subject: Re: Dollar Headed South
PostPosted: Sun Aug 28, 2022 9:38 am 
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I withdrew 300 mil colones (about $475) from the ATM in front of the INS building several times last week. No problems.

Only issue was the ATM was dispensing paper 10 mil notes which are set to go out of circulation October 1.


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 Post subject: Re: Dollar Headed South
PostPosted: Sun Aug 28, 2022 10:04 am 
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bulldog10 wrote:
I withdrew 300 mil colones (about $475) from the ATM in front of the INS building several times last week. No problems.

Only issue was the ATM was dispensing paper 10 mil notes which are set to go out of circulation October 1.


One of those is ATMs is Banco Nacional, the other I think BCR. They have different limits. And the limits can change at any time.

Doing multiple withdrawals works I guess, depending on your limits at your home bank. But in my case (and with all Canadain banks) there is a withdrawal fee at your home bank, so I always want to withdraw a maximum amount each time to minimize those fees.


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 Post subject: Re: Dollar Headed South
PostPosted: Sun Aug 28, 2022 1:13 pm 
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For those who speed read, I asked if you could change more than $200 TO colones[b][/b] per day at BCR [b]ATMs.[/b]
Other ATMs like Scotia Bank allow much more, but I pay no fees with my card only at BCR ATMs.
From Netgems reply it seems they still limit how much you can withdraw per day.
So I will plan to bring more cash for my upcoming trip. :D :D :D

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 Post subject: Re: Dollar Headed South
PostPosted: Sun Aug 28, 2022 1:38 pm 
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Isra123 wrote:
For those who speed read, I asked if you could change more than $200 TO colones[b][/b] per day at BCR [b]ATMs.[/b]
Other ATMs like Scotia Bank allow much more, but I pay no fees with my card only at BCR ATMs.
From Netgems reply it seems they still limit how much you can withdraw per day.
So I will plan to bring more cash for my upcoming trip. :D :D :D


One thing confusing about your question was asking about changing money. By changing it normally means you give them dollars and they give you colones. Anyway, ignoring that and assuming you were asking just about withdrawing colones you got lots of good info.

And the per day limit is based on your home bank account, and based on dollars. In my case the dollar limit is $1000 per day, and if the colones I try to withdraw amount to more value than $1000 per day I cannot withdraw any more. So it varies depending on the value of the colon relative to my dollar limit. I have never been limited to a certain number of colones, only by my own banks limits. But not saying that some Costa Rican banks may not do that. Just that it has not happened to me.

As far as fees at ATM's. In the past there was no ATM fee at BCR, Banco Nacional, and I think Banco de San Jose...although not sure of the third one. I use Banco Nacional for that reason, and also that they seem to have a higher limit on individual withdrawals - so I can withdraw less often saving fees back home.


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 Post subject: Re: Dollar Headed South
PostPosted: Wed Aug 31, 2022 7:15 pm 
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Tuanis wrote:
Down to 632 and still headed south.

And back to 653 today, 7 days later. Soon, we will have the year end christmas bonus (aguinaldo) which will further distort things in 15 weeks. (Aguinaldo is a legally required bonus paid in colones equal to 1 month's salary that must be paid to every worker buy December 6, 2022).

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 Post subject: Re: Dollar Headed South
PostPosted: Wed Sep 07, 2022 12:05 pm 
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Isra123 wrote:
For those who speed read, I asked if you could change more than $200 TO colones[b][/b] per day at BCR [b]ATMs.[/b]
Other ATMs like Scotia Bank allow much more, but I pay no fees with my card only at BCR ATMs.
From Netgems reply it seems they still limit how much you can withdraw per day.
So I will plan to bring more cash for my upcoming trip. :D :D :D


Actually I'm not sure how much total any one atm allows, I just never had a need to withdraw more than $600 at any one time here, but the atms I use in the Escazu, Sabana and Rohrmoser areas I live in just allow 100 mil per pull, but I don't know if they allow more than four 100mil withdraws, they might, but that's all I ever needed.

After all, Oasis out here only charges 20 mil per hour, give the girl a 20 mil tip and you got an hour with a non jaded non downtown hotel savvy ho for $60, lol.

If you get a Schwab card or Capital One 360 card, and some others I have heard about, they pay all the fees and give top usd to crc ratio.

If you need more than $600 a day, give me a call, I'll be your body guard while you're here and I only charge a fish sandwich a day for that service at SL, sea bass, one of my favorites here and always a big piece and cooked right. :mrgreen: :mrgreen: :mrgreen:

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 Post subject: Re: Dollar Headed South
PostPosted: Sun Sep 11, 2022 1:01 pm 
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Dollar still going the wrong way. Yesterday was trading at 637.
A Costarican economist on the local news was advising people
who had savings in dollars to use them now to pay bills because
the dollar is expected to fall through the end of the year. Hope not.

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 Post subject: Re: Dollar Headed South
PostPosted: Sun Sep 11, 2022 4:01 pm 
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Tuanis wrote:
Dollar still going the wrong way. Yesterday was trading at 637.
A Costarican economist on the local news was advising people
who had savings in dollars to use them now to pay bills because
the dollar is expected to fall through the end of the year. Hope not.


The US dollar has been strong against most major currencies, as strong as it has ever been. Not sure of Friday trade, but up until mid week last week anyway. I think that the CR treasury must be supporting the colon strongly as it has stayed a lot higher than it should be as far as what makes sense to me.

Whether the US dollar starts falling against other major currencies seems unlikely for a lot of reasons. Flight to safety, US interest rates and Fed raising of short term rates, the strong US economy compared to Europe, China, emerging markets - all of these would lead to expectation of the US dollar staying strong. I have no idea as to why the CRC would have gone up against the dollar recently...seems strange. But if whatever that reason is continues I suppose that trend could continue.


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 Post subject: Re: Dollar Headed South
PostPosted: Wed Sep 21, 2022 9:36 am 
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Today Wednesday at 2:30 pm est, 12:30 pm CR time, the US Fed will announce an interest rate hike expected to be .75 bp but may be a full 1.00 bp.

Right now the usd to crc ratio is apx 630, who wants to bet me a SL fish sandwich that it rapidly increases shortly after if it's .75, and explodes to maybe 660 or more if it's a full point?

You heard it here first... :mrgreen:

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 Post subject: Re: Dollar Headed South
PostPosted: Wed Sep 21, 2022 3:16 pm 
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Netgems wrote:
Today Wednesday at 2:30 pm est, 12:30 pm CR time, the US Fed will announce an interest rate hike expected to be .75 bp but may be a full 1.00 bp.

Right now the usd to crc ratio is apx 630, who wants to bet me a SL fish sandwich that it rapidly increases shortly after if it's .75, and explodes to maybe 660 or more if it's a full point?

You heard it here first... :mrgreen:

Is The SL Fish Sandwich you refer to what some would call Latin Pink Snapper???

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