What are your options to transfer money to Costa Rica?

 

You have a number of options open to you when you come to transfer money to Costa Rica.

Which one you pick will depend on your circumstances. Are you transferring your pension? Moving money to pay mortgage instalments on a property? Or just making a transfer to friends and family in Costa Rica?

Whatever your situation, make sure you read up on the possible options before jumping in.

A high street bank in your country of residence is an obvious option to check out when you first decide that you need to transfer money to Costa Rica.

If your recipient has an account with Scotia Bank or Banco Cuscalan, for example, then transferring Costa Rican colon through a bank should be quite simple.

However, you shouldn't expect a particularly competitive currency exchange rate on your transfer.

The per-transfer fees usually added to the service will also bump up your costs and eat in to the actual amount of colons you can transfer to Costa Rica.

Unfortunately Money Sending Bureaus are similarly expensive, although they do provide a convenient way to transfer money to Costa Rica if your recipient does not have access to a bank account.

If you want to avoid these high costs then it might be worth considering using a foreign exchange broker.

Brokers normally offer a very competitive currency exchange rate on the colon, which is the common currency used in Costa Rica.

But RationalFX also provides you with a low fee service - something that can be particularly useful if you need to transfer money to Costa Rica on a regular basis.

Why not open an online account with RationalFX today!