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GoodDayJohn
 Post subject: Re: Changing money
PostPosted: Sat Jan 13, 2018 11:15 am 
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Netgems wrote:
After reading Zman's comment, I looked up the colones/dollar exchange rate is .0018, but then I looked up dollars/colones exchange rate is 563. So I thought it should be the same. And if Colonial is giving 565 aren't they losing money? I'll check them out tomorrow...

So if they're doing that, and I'm getting 55,000 at HDR, (just did it yesterday), if Colonial is coughing up 56,500 then I'm losing out on 1,500 colones, apx $2.70, even that is worth the walk next door but not worth wandering a couple blocks and waiting a 1/2 hour at one of those backward banks... :x

And if they want you to show your passport, I always keep mine in my safe and use the laminated business card size copy I always get. So it's not worth it to me to drag my passport around town.
Look at xe.com for the exchange rate. That is the mid-market rate, which I suppose is what CR banks are using now since the government has allowed the CRC to float. The rate today is 570.372 to the US dollar. There's no mystery in the rates if you have accurate information.

The HDR, like all the other hotels, offers a lower rate than banks and the Colonial. If convenience is important to you, then you pay for it.
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LocoGringo
 Post subject: Re: Changing money
PostPosted: Sat Jan 13, 2018 1:33 pm 
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This link gives all the CR exchange rates USD/CRC

http://indicadoreseconomicos.bccr.fi.cr ... nilla.aspx
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Jfoot
 Post subject: Re: Changing money
PostPosted: Sat Jan 13, 2018 1:58 pm 
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Yikes, stay away from Casa de Cambio Global exchange :shock:

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Rac
 Post subject: Re: Changing money
PostPosted: Sat Jan 13, 2018 2:59 pm 
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Aren't they the crooks at the airport exchange booth :?: :?:
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Netgems
 Post subject: Re: Changing money
PostPosted: Sat Jan 13, 2018 3:00 pm 
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GoodDayJohn wrote:
Netgems wrote:
After reading Zman's comment, I looked up the colones/dollar exchange rate is .0018, but then I looked up dollars/colones exchange rate is 563. So I thought it should be the same. And if Colonial is giving 565 aren't they losing money? I'll check them out tomorrow...

So if they're doing that, and I'm getting 55,000 at HDR, (just did it yesterday), if Colonial is coughing up 56,500 then I'm losing out on 1,500 colones, apx $2.70, even that is worth the walk next door but not worth wandering a couple blocks and waiting a 1/2 hour at one of those backward banks... :x

And if they want you to show your passport, I always keep mine in my safe and use the laminated business card size copy I always get. So it's not worth it to me to drag my passport around town.
Look at xe.com for the exchange rate. That is the mid-market rate, which I suppose is what CR banks are using now since the government has allowed the CRC to float. The rate today is 570.372 to the US dollar. There's no mystery in the rates if you have accurate information.

The HDR, like all the other hotels, offers a lower rate than banks and the Colonial. If convenience is important to you, then you pay for it.


Thanks, GoodDay, I was unaware of how this works, I only saw the .0018 colones/dollars figure on the internet and I figured HDR was only charging a dollar, and me, a finance guy with an accounting background...duhh.. :oops: :roll: :mrgreen: :shock:

Since I only exchange 1 cien at a time, it's not worth my time to go stand in line with passport at the banks, but I'll start going to the Colonial, 3 bucks IS 3 bucks... :D

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Captain58
 Post subject: Re: Changing money
PostPosted: Sun Jan 14, 2018 9:07 pm 
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As of today, BCR is 563 to buy US dollar and 570 to sell.

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biker811
 Post subject: Re: Changing money
PostPosted: Mon Jan 15, 2018 12:33 am 
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On the subject of money, how much cash do you guys bring with you? Colons and dollars.

I read elsewhere that some U.S. banks can exchange currency beforehand, so I'm going to check this out tomorrow, so I can arrive in CR with Colons in hand.

I was thinking $1500 cash, and about that equivalent in Colons...how's that sound?
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Rac
 Post subject: Re: Changing money
PostPosted: Mon Jan 15, 2018 10:35 am 
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I don't being much cash to CR. I simply use one of several ATM cards while I'm in CR. I use Schwab ATM cards that have NO FEE of any kind for any reason.

You may want to bring enough U.S. cash to pay your entire hotel bill in advance at check-in. Many hotels will give a discount for paying in dollars at check-in.

U.S. banks will give you a very UNFAVORABLE exchange rate to get colones before you arrive in CR. Don't do it.
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biker811
 Post subject: Re: Changing money
PostPosted: Mon Jan 15, 2018 7:16 pm 
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Rac wrote:
U.S. banks will give you a very UNFAVORABLE exchange rate to get colones before you arrive in CR. Don't do it.


Thanks Rac I didn't know that.
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Jfoot
 Post subject: Re: Changing money
PostPosted: Mon Jan 15, 2018 9:16 pm 
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Assuming you bring an atm card, You can hit the scotia bank atm after immigration, in baggage area, to get you started, x rate is fair

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Netgems
 Post subject: Re: Changing money
PostPosted: Tue Jan 16, 2018 11:01 am 
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Well, I took the plunge yesterday, I went into Colonial with my cien and sure enough got 56,500 vs 55,000 at my Alma Mater, HDR. :shock:

I guess it's about $2.70 more, well worth the quick round the corner stroll :arrow: if you're used to exchanging at HDR.

Since I only usually exchange a cien at a time, it's not worth it for me to go wandering around passport in hand which I normally prefer to keep in my safe, and standing in line and being interrogated at these banks but the Colonial has a new money exchange client now. :wink:

I enjoyed watching the rows of suckers blowing hundreds of dollars on the slot machines as I clutched my precious $2.70 tightly, and looked forward to blowing hundreds of dollars on poontang... :mrgreen: :mrgreen: :mrgreen:

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Captain58
 Post subject: Re: Changing money
PostPosted: Tue Jan 16, 2018 12:42 pm 
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Netgems wrote:
Well, I took the plunge yesterday, I went into Colonial with my cien and sure enough got 56,500 vs 55,000 at my Alma Mater, HDR. :shock:

I guess it's about $2.70 more, well worth the quick round the corner stroll :arrow: if you're used to exchanging at HDR.

Since I only usually exchange a cien at a time, it's not worth it for me to go wandering around passport in hand which I normally prefer to keep in my safe, and standing in line and being interrogated at these banks but the Colonial has a new money exchange client now. :wink:

I enjoyed watching the rows of suckers blowing hundreds of dollars on the slot machines as I clutched my precious $2.70 tightly, and looked forward to blowing hundreds of dollars on poontang... :mrgreen: :mrgreen: :mrgreen:

That’s even more than BCR. What I am understanding is, that if you are only exchanging 1 or 2 hundred at a time, you should have no problems.
Thanks Nergems! That makes things a lot simpler.

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Netgems
 Post subject: Re: Changing money
PostPosted: Tue Jan 16, 2018 3:56 pm 
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Bep7662 wrote:
Schwab cards are a great option. Refunds full amount of any ATM fees


I just ordered mine and I have to have it Fed Exed to me here, I understand you can get colones from the ATM's and don't feel obligated to tip them.... :mrgreen:

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