Credit card vs debit card

Yes but the CR banks still will charge you fees for using a ATM card from US banks and investment accounts
I believe they also charge for getting money in Dollars
When you open an account here and are not a citizen they require you to have one account in Dollars and another in Colones  They charge ridiculous commissions when you wire money from states into your CR accounts
If you live here in a tourist visa CR has on two banks that will allow you to only open a savings account

The banking system here really sucks. I find it comical when you enter a bank and you are wearing a hat you have to remove it when inside the bank
The also search your bags if you are carrying any
Banks here also have long waits when you need to go into a branch

Do your homework before using ATMs and opening accounts

I mentioned in my previous responses. I use my credit cards for everything here

Thank you for your response. In reference to the CR banks charging a fee, well BCR did not charge my Wells Fargo ATM any fees for withdrawing USD. Only my bank WF charged me the $5 fee per transaction. That's why I researched into Schwab and thought would be the better option. I know credit cards are convenient, in fact, that's all I use in the States. The problem is, most small stores in CR will either convert to their desired exchange rate which will screw you or they do not take credit cards whatsoever.

The CR banks typically charge for atm withdrawals if you are not a bank customer at that institution and for dollars
That’s good if you only got hit for $5
But I could be wrong because I gave up on banking here I use my CR bank just to pay my quick pass, Kolbi cell and utilities bills
I went to a atm once in 2 years here

In regards to credit I use mine from larger stores to mom and pops stores even in remote locations. My experience is most accept credit and debit cards, I get turned down once in awhile for my Amex and discover cards but they all take MasterCard and visa
I get the conversion  rate daily so I check when I make purchases and it’s with in a few pennies when they convert
I try and give my business to mom and pop shops here and back in the states so some differences in currency conversion  ITS ALL GOOD

Plus I like using cards because I have the protection of disputing a charge because what you will learn quickly here,  CR stores don’t do returns even if the  item is damaged
They expect you to check it fully over before you leave the store
If you purchase electronics and appliances I recommend  using Walmart here they are somewhat workable if something is damaged when you return home
and they best priced here

antitruster50 wrote:

I used my debit card in CR to withdraw from ATMs and the fee was $5 each time.
I recently opened a Charles Schwab account because they say they have no international ATM fees. Is anyone familiar with this, is it real?
Also, is it better and cheaper instead to use credit cards? Do they screw you with the exchange rate or fees?

Thx for any help

I have a Schwab debit card and use it to get USD from CR ATMs. The banks ATMs do charge the $5 per transaction but Schwab then gives you a credit for those ATM charges at the end of the month (it is very real). I have never used the Schwab debit card (I use my Scotia colones debit card for colones) to get colones from an ATM so I can't address the exchange rate but the ATM fee should be credited at the end of the month. I have also occasionally used the Schwab debit card to pay for meals and etc and find the exchange rate to be quite good. I occasionally use a Chase Presidential Plus credit card in USD (no foreign transaction fees) and again the exchange rate is quite good. Make sure your credit card does not charge a foreign transaction fee. Hope this helps.

Thanks everyone

My son in law has a Charles Schaub acct and loves it!

I spent 3 weeks in Costa Rica in June and used my Charles Schwab High yield investor checking account debit card. It is great with no problems  and they automatically credit your account for the charges every month. You don't have to a thing.