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I am getting conflicting information about how to pay for the hotel bill at the Amistad. Is it best to pay USD cash, USD debit, or colones? If I pay in Colones that means a transaction fee to get enough etc.
Obviously credit card is the worst deal because of the foreign transaction fee and also possible conversion fee, right?

In order of best value, Colones, USD cash, credit

They have a board for the exchange rate they use for the above scenarios at the front desk. i charge every time, so i am not too hung up on the minor difference when stayng 4-5 days a trip. Last 4 day trip was about a $10 difference compared to the colones rate. My CC doesnt charge foreign fees though so that may play more into your decision.

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Ok, thanks. But if one pays in colones, one has to pay to convert initially, right..if coming from the USA? So seems it's not worth it to convert, but rather pay in USD ..either dollars or a debit card?

Yes you likely pay a bit to exchange, the key is how much are you paying to convert?

Yeah if you trade dollars for Colones at the airport cambio you're getting a crap rate (worse than the hotel would give) so paying the hotel in dollars is a better deal.

If you have something like a Schwab account and withdraw Colones at a favorable rate (better than the hotel would give) with no fees then paying in Colones is a better deal.

You need to know the rate the merchant gives and the rate for your other withdrawl/exchange options. There is no one answer.

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Pure hypothetical here.

Let's say the hotel will accept 50K Colones or $100 USD. That's an effective exchange rate of 500:1. Which would be a crap rate.

If I can withdraw $100 USD worth from my bank and get 52K Colones then I got 520:1 which is better than the hotel. I pay the hotel and have 2K left for whatever.

Both scenarios I "used" $100. But in the 2nd there is something left in my pocket because paying in Colones was a better "deal" given the exchange options available.

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Thanks for the explanation! I do have a Schwab debit card and they refund the transaction fee. So, sorry to ask, but just to clarify, if I use the Schwab card, say, to pay the hotel bill at the Amistad, instead of withdrawing money from the Schwab account at an ATM in San Jose and paying Amistad in colones, which would be the better deal? Or is it a better deal to pay the Amistad in US dollars (cash)? Still confusing to me. LOL.

If they run the charge in Colones and if there is no surcharge (aka cash discount) then I think it would be the same.

Someone else here is probably more expert on the Schwab card for debit transactions. I only use mine to take out cash.

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paying by credit card at the LA is usually about a 7% whack

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"cuz I'm a back-door man" Jim Morrison-1969

you may think this is crazy but i always got the walmart and echange my money after 3pm and i get the best rate the market is giving thats just me

i see they got me as anewbie i laugh i ve been coming to costa rica since 2008 but i am new to this form and glad to know you all

just call me pepi

I had posted this in a similar thread that was started. I just checked out of La Amistad on the 20th.


La Amistad quotes their room rates in USD. They then add 13 percent tax to the rate in USD.

If you pay with a credit card they will add a 6 percent fee. And that is after they add on the 13 percent tax. At LA don't use a credit card unless you have to.

If you do use plastic then they will convert that total amount to colones when they run your card probably at a not too favorable rate. I have yet to find a local business that has a credit card processor that will allow them to run a charge in dollars.

Then your bank will convert that back to USD to bill you. Conversions back and forth always cost you money.

I am not sure if a debit card will have the 6 percent surcharge at LA but there will still be currency conversions to run the card.

At La Amistad pay cash and in USD.

There are some ATMS in the gulch that will dispense dollars. With the Schwab card there would be no fees no conversions when withdrawing dollars. I would try the bank of ATM machines outside of the INS building. I have had good luck with the last machine on the right with my Schwab card. I believe it has a dollars option but I use colones for everything in San Jose except hotel bills.

looking at my bill from my last stay

Penthouse Rate= 134$ + tax
4OCT to 11OCT
7 days x 134 = 938$
13% tax = 122$
total = 1060$

i paid it in Cash (dollars) as i usually do bring my hotel money in cash set aside...
Desk rate at the AMISTAD is 530 x 570
Bank rate as of this writing is 550CRC to 1USD

Pay in Colones... 570CRC to 1$ the bill would be 604200 CRC
604200 CRC/550 (current bank rate) would equal 1098,54$
savings of 38,54$

credit card (same as debit since irs VISA etc) amount would be 1060$ x 6% = 1123,60$...
1123,60$ x 570CRC =640452 CRC
640452/550 = 1164,45$
savings of 104,54$

much better for me to pay Amistad bill in USD CASH.. saves more money for CIEN sessions..

I also use schwab acct for getting colones at the ATM, if needed i can also get USD from a few ATMs around town if ive tapped out my walking around money and need to "steal from my hotel money"...
ive never used it as a debit card as I use a travel rewards card for any credit card transactions

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its easier to fool people than to convince them they have been fooled- mark twain

I got Colones thru my broker before I left the states for trip 2. Enough to cover LA room and Chicas, etc. Only cost me USD 1%. That's a better rate than I got using my brokerage Visa at ATMs in the Gulch on trip 1. Even was able to specify denominations of said Colones.

NJ

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I was under the impression this was the way to do it . Amazing the different ways folks tell you to do it. But I guess there's enough little wrinkles in the situations that make each persons situation and rationale generally valid.