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Money changing question
https://forum.costaricaticas.com/viewtopic.php?f=11&t=39565		 Page 1 of 2
Author:  TheDoctor [ Tue Dec 06, 2011 4:27 pm ]
Post subject:  Money changing question
Getting ready for my flight to CR on the 11th. Was advised to check with my local bank (Chase) about turning dollars into colones there (at my local bank).

The bank teller said they could do it (they would need a couple of days).

She then wrote this out on a piece of paper: 999.04 = 446,000.00, rate 0.0022.

I would assume the 999.04 is dollars, because I was talking about exchanging $1k (US) into colones.

My question is, is this good or should I do this elsewhere? I know there is a currency exchange at the Houston airport; or I could do it in SJ/CR.

The 446,000 doesn't seem so great, since from what I can tell it is 1/500, dollars to colones.

Any and all advice appreciated! 8)

Thanks,

TD
Author:  Irish Drifter [ Tue Dec 06, 2011 5:08 pm ]
Post subject:  Re: Money changing question
DO NOT!

Change your money at Chase in the states

Change your money at the Houston Airport money exchange

Change you money at the money exchange at the San Jose airport

You can change a few dollars at the San Jose airport bank located on the upper level (departures)
or if you take an airport orange cab you can pay in dollars and not have to change your money until you are settled in your hotel. Then you can exchange your money at your hotel or at a bank in San Jose. If you change at a bank you will need your passport not a photo copy.

The morning of your flight you can check this website

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

and get the rate each bank is paying at that time.
Author:  El Silencioso [ Tue Dec 06, 2011 5:08 pm ]
Post subject:  Re: Money changing question
Many options in Costa Rica. Do NOT use a US Bank. Todays bank exchange rate on $999.04 American dollars would be 499,819.70 colones...

http://www.xe.com/ucc/convert/?Amount=9 ... USD&To=CRC

You can go to a local bank with you passport, change at many hotels around town for a small percentage, like Sportsmens Lodge and La Amistad or go to the Colonial Casino, they will change $200 american at a time at Bank rate.

You can also check with your local bank to allow transactions in Costa Rica to use ATM's, Many in San Jose. Del Rey, Colonial Casino, locals banks, etc.
Author:  Crazyhorse0017 [ Tue Dec 06, 2011 5:28 pm ]
Post subject:  Re: Money changing question
Doc: I always use the ATMs in baggage claim. There is one by the duty free store, and one by the Customs inspection area. Also, once in the gulch, I use the ATMs on the 2d floor of the INS building. I have never paid an ATM fee in Costa Rica.
Have a good trip,
CH
Author:  Orange [ Tue Dec 06, 2011 5:33 pm ]
Post subject:  Re: Money changing question
You are going to give them 11% of your money. Don't change anywhere in US, that includes airport exchange windows. In CR, do not change at the airport either.

If you don't want to wait in line at a bank, your hotel will usually exchange money for you for about 3%. At 500 bank rate, your hotel should give you AT LEAST 480. I think HLH gives it's guests close to bank rate.
Author:  TheDoctor [ Tue Dec 06, 2011 5:35 pm ]
Post subject:  Re: Money changing question
Wow, great stuff, thanks for the quick and helpful replies!

Yes, I had a gut feeling that what the bank lady was offering me was not good.

I also see that SL (where I am staying) does money exchange. Although I seem to recall that they do not keep much money on hand. Any thoughts on that appreciated.

Thanks again!

Cheers,

TD
Author:  TheDoctor [ Tue Dec 06, 2011 5:45 pm ]
Post subject:  Re: Money changing question
Ok, I see El Silencioso pretty much answered my question about the SL, thanks! :D
Author:  Rinjin [ Tue Dec 06, 2011 10:27 pm ]
Post subject:  Re: Money changing question
Unless you arrive in the evening after the bank upstairs in the departure area closes.Just walk outside past the taxi stand across street up the parking garage stairs back in departure area.As you enter on your right is place to buy your exit tax.Right next to it is bank branch they gave me 497 colones to 1 dollar last week.Now both these chores are taken care off in just a few minutes.
Author:  Zunbake3 [ Tue Dec 06, 2011 11:31 pm ]
Post subject:  Re: Money changing question
Crazyhorse0017, good tip that when using the ATM's at the INS Building, to use the ones inside the building on the 2nd floor not the ATM's on the outside of the Building.
Author:  Orange [ Wed Dec 07, 2011 11:21 am ]
Post subject:  Re: Money changing question
FYI-Unless something has changed, the SL does not pay bank rate. They take about 4% commission. If the bank rate is 500, they will give around 480. That's a pretty good rate. If you change $100, you give up $4. Call it a convenience charge. Not having to take a taxi to and from, and then waiting in line for 20 minutes at the bank is definitely worth the $4.

Look at it this way: For every 5 colones, you lose $1 on each $100 exchanged (1% commission).
Author:  Spock [ Wed Dec 07, 2011 1:05 pm ]
Post subject:  Re: Money changing question
Returned from C.R. a week ago.

Sportsmens gave 490 for the $

HDR gave 490 for the $ and sold $$$ back at 530.

Airport DOWNSTAIRS (at arrival) was giving 432 !!! :shock: :shock: :shock:

Airport UPSTAIRS (at departure) was almost the same as HDR, 490/520.
Author:  Scuba1 [ Wed Dec 07, 2011 1:08 pm ]
Post subject:  Re: Money changing question
Remember, you can also pay in dollars at many places, and all the girls will accept them - some will tell you do everything in colonies, others a combination. To avoid currency losses, on the other end, exchange an amount that you think you might use.

I'm going for 15 years and what I do is exchange - at the BANK, upstairs across the street from luggage claim, customs - just walk across the street and go upstairs - its where the ticket counters are located - just past where you buy your exit stamp (do that now; get it done and one less thing to worry about) is the bank (BAC) - small, but you can't miss it.

I'd exchange what you need right them - b/c often hotels, casinos, will not give you the best rate, always seem to be out of small bills :roll: and sometimes just don't have the change to exchange, especially larg(er) amounts of money.

Also, I don't want to be - from a time and safety standpoint, screwing around with going to a bank in San Jose, and carring money back to my hotel - far easier and better to get what you need at the airport bank and take it on a taxi to your hotel. While the airport bank is fairly quick, Costa Ricans have put up with bad [customer] service for so long its come to be expected, so what should be a simple transaction at at a downtown bank often takes longer than it should, another reason to exchange at the airport bank.

As everyone else has posted, never exchange in the USA; you are just getting screwed, although the 2 currency exchange booths at the airport do a pretty good job of screwing you too :) .
Author:  Spock [ Thu Dec 08, 2011 1:57 pm ]
Post subject:  Re: Money changing question
Scuba1 wrote:
I'm going for 15 years and what I do is exchange - at the BANK, upstairs across the street from luggage claim, customs - just walk across the street and go upstairs - its where the ticket counters are located - just past where you buy your exit stamp (do that now; get it done and one less thing to worry about) is the bank (BAC) - small, but you can't miss it.

Just to be clear, when I said "Airport upstairs", that IS the place I meant. :wink:
Author:  Scuba1 [ Thu Dec 08, 2011 8:15 pm ]
Post subject:  Re: Money changing question
I'm sure you did; I knew what you meant :)

Just remember that there is also another rip off Currency Exchange located upstairs - when you enter the ticketing area (upstairs), its on the left - opposite from where the bank and exit visa place is located.
Author:  Zunbake3 [ Fri Dec 09, 2011 12:02 am ]
Post subject:  Re: Money changing question
The Bank on the 2nd Floor in the INS building has always been a pleasant experience for me when exchanging larger amounts of currency.
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