ttraveler

We will be traveling to Granada and San Juan Del Sur. Can we just use US Dollars or should we change some money over to Cordobas? Also, I think I read somewhere that we should just bring smaller bills. Is this correct. Thanks

Jeff_Costa_Rica

I don't find Nicaragua to be one of those "Everybody takes dollars" places. Hotels, tour operators and upscale restaurants are happy to take them, but small businesses expect payment in cordobas.

tully

Good to know Jeff. Would you say the atm's in Granada are relatively reliable? Also, what about the money changers on the street I've heard about?

nonstop

Tully, I used the ATM's several times in the banks in Granada with no problems. Preferred the banks because there are usually 1 or 2 heavily armed guards inside the bank lobby by the ATM.

I also used the money changers in front of the banks and had no problems. I only changed 20-40 dollars at a time. I was advised they were safe.

Would not recommend trying to change travelers cheques in the bank. I changed $100 USD in Amex TC's into Cordobas and the process took almost 1 hour. They must have counted my (5) $20 travelers cheques at least 20-25 times. I made the mistake by waiting in line and then going up to the window only to be told I needed to meet with one of the administrative people first. Plus I paid a fate fee of 7%. Knowing that on the front end I wouldn't have paid that exhorbidant of a fee but I was already 45 minutes into the process and just wanted to get the deal done.

I would recommend using Cordobas-much more widely accepted. Everything is priced in C's. A few places might have taken dollars but you lose on the exchange rate so why not just use the local currency?

Jeff_Costa_Rica

I agree about the ATMs. They're pretty reliable. But they aren't everywhere. Visa/Plus cards are more widely accepted in machines than MasterCard/Cirrus ones.

I agree about traveler's checks too. Most banks will not touch them, and in those that do, the transaction takes FOREVER, as nonstop noted, and they charge a hefty fee. Also, almost no business accepts them as payment. I'd leave them at home.

ttraveler

Jeff and Nonstop,
Thanks for all of the useful information. Do you know if there are ATM's in San Juan Del Sur?

nonstop

Jeff: yes there are but none of them would work the day I was there. I was trying to use a Cirrus card and while many would not accept it the Visa/Plus sign was prominant which lends a lot of credence to what Jeff says.

I never could determine whether the system was down or just the Cirrus part of it which lends credence to the fact that I never try to depend 100% on the ATM's in Latin America. 3 differnt trips I have come in contact with disabled systems. I know most people on this board seem to depend on them 100% of the time--maybe I have just had the luck of the draw.

tully

Thanks Jeff & non stop. I've 1 visa & 2 mc's so hopefully between the 3 of them I'll be able to get one of them to work.

ttraveler

Ok, so I guess it's good to plan ahead.. get money out when we can and bring more then one atm card. Thanks

Gingerly

there is something else you may want to know: torn or stained bills will not be taken by anybody. BAC (a local bank) might, but they will charge a commision of US $1 per every torn/stained note they take. I have to disagree with the statement of dollars not widely accepted. In Granada, Managua, San Juan del Sur, Leon and the touristy places dollars are taken no problem, except for the damaged and larger (50 and 100 notes). Usually everybody tries to take a little bit of advantage on the exchange rate, but it is manageable. A lot of places have their prices in US currency, so it is wise to have both dollars and cordobas, so you do not en up paying double exchange ($ to C$, and C$ to $).
In short have them both

ttraveler

I e-mailed everywhere that we will be staying and they all take US dollars, actually some said that they prefer them. I'll take dollars for them and ATM's for the market ect.
Thanks for the tip about torn dollars.

tully

Sounds about the same as CR. I always annoy the tellers when getting cash for trips down there "that one, no not that one, no, no, yes"

ttraveler

Tully,
You are very funny..I only used dollars while in Costa Rica and luckily didn't have any trouble.
I actually looking forward to getting Cordoba's. It's been a while since I have had to change money.