Money & Payments in Santa Teresa (2026)

Good to know

Good to Know

Santa Teresa is one of Costa Rica's most cash-dependent beach towns. Plan to carry significant cash (USD and/or colones) since card acceptance is unreliable.
ATMs in Santa Teresa have been reported to run out of both currencies during peak travel seasons (especially Easter/Semana Santa) and busy weekends. Withdraw cash proactively before arriving or on arrival in nearby towns with more reliable banking infrastructure.
US dollars are accepted almost everywhere in Santa Teresa but always result in change given in colones at the merchant's exchange rate. You lose on the exchange twice if you start with USD and end up with change in colones—better to withdraw colones directly from an ATM.
Both ATMs in town are located at the Malpais-Santa Teresa Split intersection. During busy periods, queues form and machines may be depleted. Some travelers have had to use bank tellers with their passport to access funds instead of the ATM.
Many small businesses and local operators pay high merchant fees (up to 6–9% per card transaction), so some owners prefer cash or pass surcharges to card users. Ask before swiping.
Bring pristine, unmarked USD bills in small denominations ($5, $10, $20) if carrying USD cash—Costa Rica will not accept torn, marked, or worn bills.
Break large colone notes (₡20,000, ₡50,000) at supermarkets like Costa Mart or Auto Mercado, as small local sodas struggle to make change.

Card Acceptance

Summary: Limited but growing card acceptance in Santa Teresa—primarily at hotels and restaurants. Many local businesses remain cash-only.

Details

Credit Cards
Acceptance
Partial
Recommendation
Use for hotels and upscale restaurants; confirm currency (CRC vs USD) before payment.
Notes
Visa most widely accepted. Mastercard accepted at fewer locations. American Express rarely accepted. Some merchants charge 3-5% surcharge for card use.
Debit Cards
Acceptance
Limited
Notes
Visa debit cards work better than Mastercard at ATMs. Not recommended for general purchases; card holds can take months to reverse.

Cash Requirements

Summary: Santa Teresa is primarily a cash town. Most local restaurants, shops, tour operators, and taxis accept only cash.
Necessity: Essential

Recommended Currencies

CRC
Use Cases
Sodas, small restaurants, local shops, taxis, markets. Preferred for tips.
Local Name
Colones
Note
Locals prefer colones for tips as they avoid having to exchange them.
USD
Use Cases
Hotels, upscale restaurants, some tour operators. Widely accepted but less favored than colones locally.
Note
Tourist businesses accept USD; change is typically given in colones.

Banking

Summary: Physical bank branches available locally; account opening for nomads/tourists possible but requires documentation; some limitations for non-residents.
Currency Accounts: Accounts can be opened in local colones (CRC) or US dollars (USD); most expats maintain both.

Account Opening

Residents: Full account access with DIMEX (residency card); higher transaction limits and account types available.
Tourists Nonresidents: Can open restricted accounts with passport and local cell phone number; typical monthly deposit limits around USD 1,000–1,500.
Account Types Available: Checking accounts, savings accounts in Costa Rican colones (CRC) or US dollars (USD)
Most Nomad Friendly Banks: BAC Credomatic and Scotiabank have established protocols for foreign clients and bilingual service; digital nomad visa holders have access to specialized accounts.
Required Documents Nonresident: Valid passport with entry stamp, completed KYC form, proof of income source, sometimes proof of local address from home country
Notes: In-person visit required; appointment booking strongly recommended to avoid long wait times. Private banks typically have shorter queues and better English support than public banks.

Branches In Santa Teresa

Banco Nacional
Type
Government-owned public bank
Hours
1pm–5pm
Location
Playa Carmen (El Cruze intersection)
ATM Available
Yes
Banco De Costa Rica (BCR)
Type
Government-owned public bank
Hours
9am–4pm
Location
Playa Carmen (El Cruze intersection)
ATM Available
Yes

ATMs

Locations: Two ATMs at the Malpais-Santa Teresa Split (main town intersection). ATMs may run out of cash during high season or holidays.
Availability: Limited but present
Reliability Notes: Experienced travelers report inconsistent ATM reliability in Santa Teresa. Some machines have refused foreign cards; others have run out of both currencies. It is advisable to withdraw cash before arriving or have a backup plan.

Fees

Summary: Costa Rican banks typically charge ₡1,500–3,000 (approximately $3–7 USD) per transaction. Standalone ATMs in surf shops and tourist areas in Santa Teresa may charge additional $5–8 surcharges on top of bank fees. Always use bank-branded ATMs; decline dynamic currency conversion (DCC) to avoid poor exchange rates.
Bank Surcharge Local: CRC 2,000
Bank Surcharge High Range: CRC 3,000

Best Practices

Use ATMs at Banco de Costa Rica (BCR) or Banco Nacional branches when possible—lower or no local fees.
Withdraw larger amounts per transaction to reduce the number of fee-incurring transactions.
Withdraw during banking hours (9am–3pm weekdays) when machines are stocked and supervised.
Avoid standalone/tourist-area ATMs branded 'ATM Centroamérica' or unbranded units; these have aggressive surcharges.
Decline DCC (dynamic currency conversion); insist on being charged in colones (CRC).
Consider bringing cash from home or using a US bank (Charles Schwab, Fidelity) that reimburses all foreign ATM fees worldwide.

Tipping Norms

Hotel Staff

Currency: Colones preferred for housekeeping
Housekeeping: $1–2 USD per day or per bag

Restaurants

Additional Tip: No extra tip required unless service was exceptional.
Currency Preference: Locals prefer colones, but USD is accepted.
Description: 10% service charge is automatically added to most restaurant bills.

Tour Guides

Currency: USD or CRC
Recommendation: $5–10 USD per person for half-day tours

Parking Attendants And Service

Recommendation: CRC 500
Note: Approximately ₡500–1,000 (about $1–2 USD) for parking attendants or small service providers.

AI-generated estimateData refreshed July 2026

Sources cited for this category

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

More About Santa Teresa

Data last updated July 2026 · Verify anything important.

Money & Payments in Santa Teresa