Money in Tamarindo, Costa Rica
Cash
The Costa Rican “Colon” and the US Dollar are used interchangeably in Costa Rica. If you travel with cash in US Dollars, there is no need to exchange money in advance, or at currency exchanges. Each vendor will take them and convert them at each transaction. Your change everywhere will almost always be in colones and you will accumulate them quickly after arrival. It is wise to travel within Costa Rica with both currencies, just in case a small vendor wants colones.
There is a strong reluctance to accept anything larger than a US $20, because of the existence of counterfeit US currency around the world. Do not bring damaged or soiled bills either. If you are traveling with any other national currency, only exchange it at banks, your hotel or reputable currency exchanges, such as those at airports. To exchange your money you must show your passport or the photocopy.
The best rates with no fees are usually found at the national (government-backed) banks. The hours for the two national banks (Banco Nacional and Banco Costa Rica) are Monday through Friday from 9 am to 3 PM, 4PM, or 5 PM, depending upon location. They both have branches and ATMs throughout the country. All banks are usually closed on weekends.
If you want exchange currency at a bank, be prepared for the possibility of long lines, especially on Monday. Costa Rica is organized so that a wide number of public payments (utilities, taxes, deposits) are handled by the national banks, so people are frequently there – and with many things to complete. The best times are usually mid-afternoon on mid-week days.
The exchange rate as we begin October, 2006, is surpassing 520 Colones to the US Dollar. The government is going to allow the Colon to "float" soon, so exchange rates will fluctuate, perhaps daily. Most business establishments will have the exchange rate posted.
Credit Cards/ATMs
ATM’s (Cirrus, Star, Plus, etc.) are available variously accepting Visa, Master Card, Amex, some US bank cards, and a few foreign credit cards. Always confirm that you got the correct amount. When using an ATM, make sure it is in a well lit area. Do not count your money until you are in a safe place.
AMEX, VISA and Master Card credit/debit cards can be used in retail establishments, restaurants, hotels, and gas stations, with VISA being the most widely accepted. When paying at a gas station with a credit card, always follow the attendant and observe the swiping of your card. Recently, unscrupulous attendants have swiped some cards more than once without the cardholder being aware – until it is too late.
Checks
Foreign checks are very reluctantly accepted because Costa Rican banks put a “hold” on the funds for up to 5 weeks, while they physically send them out of the country to clear. This includes traveler’s checks. You can exchange traveler’s for cash at a bank, or perhaps at your accommodation, more easily than at most business establishments.
Taxes
There is a 13% sales tax on most services and goods. There is also an extra 3% tourist tax on hotel bills. These taxes should be clearly identified on any bill.
When you leave Costa Rica, there is a departure tax of U.S. $26. (Note: This may increase at random intervals.) This can be paid at the airport, but be sure to go early to get into line. Cash or your VISA card will be accepted at the airport. Recently, the procedure has been made more flexible. You can also pay at certain banks a few days before departure, if that is more convenient.
Tipping
In general, if someone provides a special or superior service, they deserve a tip. The average Costa Rican worker, bag handler, bell hop, and maid are all probably working for less than $3 per hour, including benefits. Making a living can depend on tips earned by providing good service. Please encourage them appropriately. Restaurants automatically add a 10% service charge. Read your bill before leaving a tip. It should already be identified, along with the tax. If you receive unusually good service or are especially pleased with your server, you might feel good about slipping them another 5%. The good karma will follow you.
Tour guides are tipped anywhere from $3 to $20 depending on the tour and quality of service provided. Hotel maids and tour drivers are also sometimes left a tip, if service is satisfactory.
Porters and bellhops get $1 per bag.
