Prices are rising in Costa Rica but you will get more for your money than in the USA. You do not need heating or cooling. Taxis are cheap, not even a $ per mile. A maid is available for about $100 per month. Medical service is extremely cheap.
  On the other side, houses and properties got much more expensive and often are as much as in the US, even more sometimes. Buying a car got a little cheaper now since the government reduced import taxes on newer models. All imported items cost more than at home and computers are the only except, since the government supports technical development and education.
  A single person needs about $500 to live good, some people make it with less. A couple needs about $1000 and if someone has more than $1000 per month, they live almost like a king. The monthly average income is about $300.
Credit cards are accepted almost everywhere. VISA is prefered and some places also take Master Card, American Express and Diners Club. Credomatic S.A. is the local office for VISA and Master Card. It is located in Ave. 1, Calle 3/5 in San José, phone 233-2156. If you loose your card, call 253-2155. The office of American Express is located in Calle 1, Ave. Central and 1 in San José, phone 233-0044 during business hours or 223-0116 in emergency cases.
  If you receive your pension, it can be transfered every month to your account in Costa Rica or maybe can be picked up at your embassy.
 

Money Exchange

Costa Rica´s currency is the Colon, which is divided in 100 Centavos. In November of 2005, you get about 410 Colones for $1. The exchange rates can be found in every bank and in the local newspapers. 1992, $1 was only 120 Colones, which shows the high inflation rate.

Important: Change money in the change office at "plaza de la cultura" in San José. They serve you fast and without problems to the regular bank exchange rate. Or go to one of the smaller private banks.

Never bring any foreign currency besides US$, because you loose to much. Only  exchange money in your hotel, if you have no other choice and always ask for the exchange rate before. You can also exchange money at the international airport, in the governmental banks (long lines) or on the black market. Dealers can be found in the streets near Banco Nacional in San José. Only use them if you have no other choice and be extremely careful.

Money exchange on the street is forbidden, but many people do it and it is tolerated, because it is easier and faster than waiting one hour in a bank. They also take travellers checks but cheat many times, so watch out.

Attention: You should always know, how much money you have to get in exchange, before you pass the bills to the dealer. Many people became the victim of unserious dealers, which counted the bills wrong or used other tricks. Never exchange too much, because you can only change $50 back, when you leave the country.
 

Bank System

Even if Costa Rica is more efficient than any other Latin American country, banks are still under developed. You will spend much of your time in the banks, since they are the places where people pay tickets, water, electricity and phone. It is not unusual to wait one hour in the line to hear from an employee, that you waited in the wrong line and the process starts from the beginning! This torturing will stop soon, because more and more competition is coming to Costa Rica.
  The good news is that the bank system is very stable. Investors trust enough to leave millions of US$ in the country. The reserves of the central bank are as high as one billion US$. The bad news is that interest rates dropped down to almost nothing so it is not atractive anymore to invest in Costa Rica.
  There are several dozens of private banks in Costa Rica. The central bank is Banco Central de Costa Rica. Banks of the government are Banco Nacional de Costa Rica, Banco de Costa Rica, Banco Credito Agricola de Cartago and Banco Popular de Costa Rica, which all have branches in the whole country. Banks offer saving accounts and checking accounts, which are accepted in supermarkets and elsewhere. The accounts can be opened in Colones, US$ or Euro.
  Like in other countries, most banks offer automats with 24 hour service. Foreigners can get loans as well if they can proove a stable income and interest rates are not very high. 
  Most private banks are connected with banks outside the country so that transfers can be done fast. Opening hours are most times from 9 am to 3 pm, some close a little later. Banco Nacional de Costa Rica, Avenida 4, CaIle 0-2, closes at 6.30 pm and even opens Saturday until 12 am.

New private banks brought competition which has improved the service of the banks of the government already. However, it still seems to be little developed. Just try to have patience and remember that the employees are not responsible for the situation!