Hi Steven,
Excellent questions. First, let me say that anybody with questions should contact their financial institution as my recent research has shown issues like this can vary widely from bank to bank.
That said…
Some Costa Rican banks charge fees, others do not. Generally you should figure you’re going to pay a fee, about $1 – $2 – a flat fee – per withdrawal. This will all depend on your card network, bank, etc. of course. To ensure you are able to get access to funds it might be a good ideas to have cards with both a Visa and Mastercard logo as some ATMs accept cards only from one network. Generally, it’s not a big problem and most take both but something to keep in mind. Also keep in mind that 4-digit PINs are standard here. If you have another type of PIN, get it changed before traveling.
Watch out for fees from your home bank or financial institution. This is where they get you. They often charge a percentage as a “foreign transaction fee’ or “currency exchange fee” or “international transaction fee.” At 3% per withdrawal that can add up.
There is hope…
Last I checked, Charles Schwab, Capital One, and Fidelity offer accounts that help mitigate that. They don’t charge foreign transaction fees and even refund any fees a foreign ATM might have charged you. All this is subject to change but I would check with them for more details. Also, some institutions, I’ve heard, will waive these fees if you call them.
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