www.CostaRicaTicas.com

Hi Gents,

Yes I am a Newbie to CR, but not to the adventures. One of the ways I avoid hassles when planning a trip is to order my foreign currency two weeks in advance from my bank here in the US. I do not pay any extra fees.

Safe Adventures

How does the exchange rate they give you compare?

They just exchange at market value ... no additional fees.

My money, my bank (I'm their customer/business) and the want to keep me happy.

Just order two weeks before your trip.

For comparison, most banks in San Jose TODAY are giving about 544 colones per U.S. dollar.

So . . . . . one colone is about 1/5 of a penny.

This is my first time in CR and my first exchange of Colones. And I will not be making my order for Colones until mid May.

My bank always gets me the most for my $. Their job is to keep as much green-back in their possession as possible, so it is not to their advantage to get a poor rate on any exchange or transaction.

And I never pay a transaction fee.

When you get your money, compare the rates for that day and let us know what exchange rate they are giving you. A lot of banks make money by giving you a lower rate even if there is no transaction fee.

I never bring very much cash into CR.

I simply use a Schwab ATM card to withdraw colones from my Schwab Bank account. Schwab has NO fees for the having or using the card. There is no minimum activity level and no minimum balance requirement at Schwab. I make a mail-deposit into my Schwab bank account before I depart for CR.

Schwab will refund any other fees that any other bank charges me to use my Schwab ATM card. In CR, the Bank of Costa Rica (BCR) does not apply any ATM fee for using their machines, even if I use a non-BCR card.

The exchange rate that Schwab uses for ATM transactions is fair. I've checked it on a few transactions for the exact hour of the transaction, and found it to be fair.

I have no relationship or connection with Schwab other than this easy-to-use ATM card.

Most banks in the US will give you a much lower rate than you can get in Costa Rica even without charging you transaction fees.
Just go into your bank and ask them to tell you what rate they will give you today and check the exchange rate on any currency exchange web site. You will see a significant difference.

_________________
Softbob

There is nothing either good or bad
but thinking makes it so.
HAMLET

Thank you for your feedback.

Are there any specific reasons why you do nt bring much cash into CR?

No reason at all. People are just nervous carrying large amounts of cash.
I usually carry about $1000 in $100 bills and then use the ATM later in my trip.
Put most of the money in the safe and carry what you need once you are there.

_________________
Softbob

There is nothing either good or bad
but thinking makes it so.
HAMLET

Thank you.

How are the safes? I know that sounds like a stupid question, but I just returned from India ... stayed in a very nice hotel that had electric combo safes that were #1 not hooked up and #2 were easily carried away!

I bring in much less cash than Isra for the reason that he mentions.

So far, I haven't had to prove to the window wizards at immigration counter that I can support myself during my visit.......but they have the right to ask me (and you) to prove that.

Any currency that is to be exchanged in CR should be undamaged, unmarked, and relatively new. The banks and casinos have a fear of counterfeit bills from the U.S. because there are so many worldwide.

You might want to bring in enough cash to use at check-in at your hotel, especially if you get a discount for prepaying for your stay with U.S. currency. But, after that, it's much easier to use an ATM card after you check-in at the hotel if you are not bothered by ATM fees. Most ATMs give colones or dollars, your choice. As I posted earlier, my ATM usage is entirely free of fees.

The lines at banks to exchange can be long and slow. Exchanging at hotels can be quicker but more expensive. The big Walmart in Guadalupe is quick and fair. The little bank kiosk at the airport (Bank of San Jose BAC) , upstairs in the corner of the departure floor, is quick and fair.

As you can imagine, some safes are good.....and some are not. None are "vaults."

Most are small, so a laptop may not fit inside. Some have keys, some have keypads. Some hotels (not many) have a daily charge to use the safe (think Ricky Ricardo).

You ask "How are the safes?"

This is from another thread on CRT.

https://www.youtube.com/watch?v=IyGhEIbZLUU

WOW .... Really? Nuff Said!

Anyone had a problem in the SL?