Paying in dollars in Costa Rica: what exchange rate can you be charged?
If a business quotes in US dollars, you can pay in colones. What exchange rate they can apply, what happens with the change and when paying by card is better, including with foreign cards.
In Costa Rica many businesses quote prices in US dollars: hotels, tours, car rentals, electronics. You can pay in dollars or in colones, but the final amount depends on the exchange rate the business applies. Here's what to know before you pay.
Can businesses charge in dollars?
Yes. The law allows businesses to set prices in dollars. According to the Ministry of Economy (MEIC), customers can pay in colones even when the price is in dollars; the difference is the exchange rate used to convert it. If the deal in dollars doesn't suit you, you can walk away.
What exchange rate can they charge?
Each business sets its own. The MEIC has recommended that businesses use the Central Bank of Costa Rica (BCCR) reference rate, since other rates can work out more expensive. In practice:
- If you pay in colones for a dollar price, the business uses a sell rate (what each dollar costs). Compare it with the reference rate on our exchange rate today page.
- If you pay with dollars for a colón price, each dollar is taken at a buy rate, usually lower.
- Ask before paying what rate they use, and ask for it to appear on the receipt.
What about the change?
If you pay in cash dollars, change is often given in colones, calculated at the business's rate. Carry small bills so you lose less in the conversion, and check the math before you leave.
Is paying by card better?
- Foreign card: if the card terminal offers to charge you in your home currency, it's usually more expensive. It's generally better to pay in colones and let your bank do the conversion.
- Colón card: if the price is in dollars, your bank converts it at its own rate. See each bank's rate in our exchange rate by bank table.
- Dollar card: paying in dollars avoids a conversion.
To find where to exchange dollars at the best rate, read which bank should you exchange dollars at?
This article is for information only. If you're charged improperly, you can ask or file a complaint with the MEIC.