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Dapper505
 Post subject: Re: currency exchange
PostPosted: Mon May 24, 2010 9:55 am 
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A little late are'nt we? lol. I am heading back to the US today. Anyway, I exchange currency for taxi rides and to pay for beer at the BM. I am at the Dunn and they give an excellent exchange on the dollar. I pay the girls in dollars but I found that if i pay in dollars at the BM or a pharmacy, they rip you off on the exchange.
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Seabee
 Post subject: Re: currency exchange
PostPosted: Mon May 24, 2010 3:22 pm 
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ColombiaLover wrote:
In all honesty, I can't think of too many reasons to exchange currency when you can simply use an ATM. Maybe you want to have a bunch of cash upfront?

I use colones from the ATM or my Capital One credit card. I use the ATM machines at the McDonalds on Avenida Central or at the INS/Jade Museum. My bank doesn't charge any fees, including any currency transaction fees. I get the current exchange rate. When I use my Capital One credit card (at Cafe Mundo, for example), I also pay no transaction fee.

Do yourself a favor and avoid the exchange fees, the less than market translation, and the hassle of a currency exchange....and consider an ATM card (even if you open an account SOLELY for international travel).

Just my two cents.


I don't understand. I have used a mastercard and amex at different places and get a 3% foreign transaction fee. I have used my bank debit card at the bank ATM and have gotten charged 3% whether I got colones or dollars. How do you get around this for no transaction fee?

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Dapper505
 Post subject: Re: currency exchange
PostPosted: Mon May 24, 2010 3:45 pm 
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Im interested in knowing that too. is it a capital one policy or something? if so, i might change banks
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Irish Drifter
 Post subject: Re: currency exchange
PostPosted: Mon May 24, 2010 3:51 pm 
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Dapper505 wrote:
Im interested in knowing that too. is it a capital one policy or something? if so, i might change banks


Do not know their policy on debit cards but there are no fees on their credit cards imposed by them and they eat the fee that Visa or Master Card charges.

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GoodDayJohn
 Post subject: Re: currency exchange
PostPosted: Tue May 25, 2010 12:33 pm 
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My bank (SunTrust) reimburses me for ATM fees charged by other banks, up to two transactions per month. It is the type of account I have that qualifies for that, it's not a bank policy for all accounts. I use the ATM's in the food court a block south of the DR, and they charge $3 per transaction, not 3%.
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ColombiaLover
 Post subject: Re: currency exchange
PostPosted: Wed May 26, 2010 7:27 pm 
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As for credit cards.....Capital One charges no transaction fees on credit cards transactions. I've used it in Central and South American, the Caribbean and Europe with no trouble and never any fees.

The ATM fees vary from bank to bank. I "bank" at a credit union. I have my regular account and then I have a separate account that I use only for traveling. The credit union does not charge me ANY ATM OR TRANSACTION FEES. You might also open a Citibank account and use a Citi ATM in San Jose. I've heard from others that you'll pay no fee that way too.

Check out a credit union. These days almost anyone can join one based on where you live, your job, etc.
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Dapper505
 Post subject: Re: currency exchange
PostPosted: Wed May 26, 2010 7:42 pm 
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i cant believe that those predatory bastards at citibank wont charge a fee, that is inconceivable, i mean, the CEO would charge his own grand mother to live in a homeless shelter.
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JazzboCR
 Post subject: Re: currency exchange
PostPosted: Wed May 26, 2010 11:47 pm 
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I like Brother ColombiaLover a lot, I mean a big bunch, for the CU mention. Here's the CUNA Website: http://www.cuna.org/
Here's a locator to find one close to you: http://www.creditunion.coop/cu_locator/quickfind.php
I have a banker brother and he turns purple when I mention Credit Unions--thus, they must be doing something right.

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Steven1
 Post subject: Re: currency exchange
PostPosted: Mon Jun 07, 2010 8:50 am 
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Capital One has no transaction fees when using the ATM card associated with any of their money-market savings account; nor do they have a foreign transaction fee or a currency exchange fee. It's quite an OK deal and one is compelled to wonder when the CR banks are going to wise up and start charging fees for using the things with a non-CR based card. *shrug*

However, it IS a very good idea to call Captial One PRIOR to your trip to let them know the card is going to be used in this country or that country during this period of time. You run the risk of it getting shut off if foreign transactions start showing on it ...... and that is done for your own protection. It's a simple phone call....

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JazzboCR
 Post subject: Re: currency exchange
PostPosted: Mon Jun 07, 2010 12:47 pm 
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JMS wrote:
the dollar is getting stronger against most countries !!!

...And I believe will continue to do so. The news from the Euro Zone just keeps getting worse as more and more toxic sludge comes to light. At least in the US most of the problems are known, if not yet solved. Oh, and in an effort to curb rampant RE speculation, the Chinese have virtually frozen their RE market. I sure hope they quit artificially supporting their currency and let it find its natural level vs. world currencies. The USD can only benefit from that and we will remain the world's reserve currency, the "flight to safety" country.

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Enzo5
 Post subject: Re: currency exchange
PostPosted: Tue Jun 08, 2010 6:04 am 
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The last time I was in country (last July) there was an ATM in the Del Rey that gave out money in U.S. currency. So I would get cash there and not pay a fee because my bank doesn't charge me for that with the several accounts/services I have with them. Then I just walk about 20 feet to the casino cashier and change dollars to colones at a pretty decent rate from what I recall., thereby avoiding any foreign currency conversion fee. Only problem I had was the ladies that would see this and proposition me before I could even get my cash in my pocket. :roll:

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Steven1
PostPosted: Tue Jun 08, 2010 8:03 am 
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This site has been posted a couple of times.....but here it is again:

http://indicadoreseconomicos.bccr.fi.cr ... nilla.aspx


and here the same site is, however, in English: http://indicadoreseconomicos.bccr.fi.cr ... nilla.aspx

This web site lists EVERY type of financial institution in CR: Banks, loan outfits, Credit Unions. It does not list Tony's Loan Shark Easy Exchange.... :P :P

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"Actual happiness always looks pretty squalid in comparison with the over-compensations for misery. And, of course, stability isn't nearly so spectacular as instability. And being contented has none of the glamour of a good fight against misfortune, none of the picturesqueness of a struggle with temptation, or a fatal overthrow by passion or doubt. Happiness is never grand."
- Aldous Huxley, Brave New World, Ch. 16


Last edited by Steven1 on Mon Aug 09, 2010 1:00 am, edited 1 time in total.

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Keeper50
 Post subject: Re: currency exchange
PostPosted: Sat Jul 31, 2010 11:08 am 
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not all credit cards work at every ATM. Mine (a Debit card) did not work at the DR. And I did inform them that I would be using it in CR.
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Irish Drifter
 Post subject: Re: currency exchange
PostPosted: Sat Jul 31, 2010 12:12 pm 
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Keeper50 wrote:
not all credit cards work at every ATM. Mine (a Debit card) did not work at the DR. And I did inform them that I would be using it in CR.


Debit cards are tied to a network. Check the back of your card and they should be listed there. If the ATM machine you try to use does not affiliate with one of the networks your bank subscribes to your card will not work.

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Porno frank
 Post subject: Re: currency exchange
PostPosted: Sat Aug 07, 2010 10:09 pm 
Not a Newbie I just don't post much!

Joined: Tue Dec 25, 2007 10:31 pm
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Is it a good idea to bring traveller checks? Or Just bring cash.
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