Our money guide provides information on bank accounts, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.
An introduction to Costa Rica's financial system
The currency in Costa Rica is the Colon, denoted as C. The Colon is divided into 100 céntimos. Colon notes in circulation are C 500, 1000, 2000, 5000, and 10,000. Coins in circulation are of C 5, 10, 20, 25, 50 and 100.
How to open a bank account in Costa Rica
Different banks in Costa Rica all hold different requirements for opening a bank account. For savings accounts in Colones, initial deposits range from 3,000 Colones to 25,000 Colones. For US Dollar accounts count on a range from US$ 10 to US$ 500.
Types of Insurance
Insurance in Costa Rica is a state monopoly. In Costa Rica, this means only the Instituto Nacional de Seguros (INS) and its agents can sell insurance. Dealing with the INS directly can be very difficult, whereas agents are more customer friendly.