The local currency in Costa Rica is the Colón ₡. One US Dollar (USD) currently buys around 530 colones (CRC). Check the current exchange rate so you can get a sense for your anticipated cost of living as you look into various on-site expenses at www.xe.com/currencyconverter/convert/USDToCRC 

Colones (symbolized by ₡ or CRC) are issued in 1,000, 2,000, 5,000, 10,000, 20,000, and 50,000 colones. Coins come in 5, 10, 25, 50, 100, and 500 colones pieces.

US Dollars in small denominations are widely accepted in Costa Rica, but the exchange rate that vendors use might not be the best one, so it's best to pay with your card or with local currency cash. Keep in mind that bills must be in good condition. US $50-100 bills are only accepted in banks. It's best to pay for small purchases with local currency cash or with your debit/credit card. Larger ticket items (such as optional excursions, flights, other) are best paid for in US$ cash.

Exchange Rates

• The exchange rate. This rate determines how many Colones you’ll get for your dollar, before transaction fees are deducted. Be warned: not all financial institutions offer the same rate.

• Dollars can be exchanged for colones at most banks with your passport. You’ll probably only need to do this once, since it’s not wise to bring your whole trip’s worth of funds (unless it’s a short one) in dollars. Once you have exchanged any cash you arrived with, if you need any more cash, you can withdraw it from ATMs like you would back home (see below). 

There are a few things to keep in mind: 

• The exchange rate may vary among institutions. 
• You will need to bring your original passport in order to complete a currency exchange.
•  Traveler's checks are not commonly accepted.
• Exchange rates can be really high at airports.

Banks & ATMs

• Normal banking hours in Costa Rica are Monday-Friday from 9am-3:45pm. Most banks are closed on weekends and national holidays. 
• Using ATMs in Costa Rica may come with additional fees from your home bank, usually around 2-3% for international withdrawals and a set fee for using ATMs not affiliated with your bank.
• Check with your bank for details on these fees and withdrawal limits. 
• To minimize the fees, you can withdraw larger amounts less frequently, and make sure that the ATM card you use is linked to a checking or money market account, not a savings account. 
• Verify that your PIN is a four digit number. Keep in mind that the keypad on Costa Rican ATMs does not have letters, and you will need to use a 4-digit number as a password.
• If you're having trouble finding an ATM that works with your card, ask your home financial institution for the location of a machine that functions on your network. 
• Be cautious when using ATMs, try to use machines that are located in well-lit, familiar locations. Be aware of your surroundings when entering your PIN or withdrawing cash. 
• Avoid ATMs that are not attached to a bank. If your ATM card gets stuck in one of these machines, you will not be able to walk into the bank and request your card back. They also tend to charge high fees.

Credit and Debit Cards 
In Costa Rica, cards are widely accepted, although it is always a good idea to carry some cash, especially smaller denominations. It's easy to find ATMs throughout the country, this is the best way to get cash as it will give you local CR Colones (₡) at the official exchange rate. Some ATMs also give out US Dollars.  

Credit cards are more convenient for large purchases, such as airline tickets, hotels, clothing, and gifts. 

• Be aware of fees: Make sure to ask your bank about their international transaction fees. They may add an additional 2-3% onto the cost of your purchase
• Notify your bank of travel: Let your bank know that you will be traveling and are planning to use your card/s abroad. If your bank notices activity on your account in Costa Rica and you haven't notified them of your travel plans, they will place a hold on your account. Avoid this headache by calling ahead or notifying them via their website of your travel dates and all the countries you plan to visit. 
  

  In the case that your bank does place a hold on your account, don't panic. Typically this can be cleared up with a simple call to the bank to let them know that the activity they recorded is not fraudulent. If you have a joint account with a family member, it can be easier to have them call the bank on your behalf due to the time difference.

• Cash Advances: You may be able to use a credit card (rather than an ATM card) to obtain cash advances from ATMs. Interest rates on cash advances, however, normally begin to accrue from the date on which the money is withdrawn. As such, credit card cash advances can be very expensive and should only be used as a last resort. 

Wiring Money

If you find yourself in an emergency and need to access money, the best option is to use an international wire transfer service such as Moneygram or Western Union. Both these services provide general information and FAQs on how to perform an international wire transfer on their websites, which can be useful for you to understand the process and fees involved. This method can be a bit slower than an ATM withdrawal but it is an option available to you.

Tipping

Tipping is included in restaurants (10% service charge), so there is no need to tip wait staff, although it is always appreciated.