Where should I setup a bank account in Costa Rica?

We asked expats in Costa Rica what banks they use and there advice about banking. They advised...

"1. Expats should research the cost of living in different areas of the country, as it can vary greatly. 2. While the use of English is widespread, Spanish is the official language, so it might be helpful to learn Spanish before retiring in Costa Rica. 3. Obtaining residency will require paperwork and should be done as soon as possible, as many municipalities have residency requirements for health and other services. 4. Entering Costa Rica with a pet requires a valid health certificate obtained from the pet’s veterinarian. 5. Expats can take advantage of Costa Rica’s free, publicly funded healthcare system, but private health insurance is also highly recommended to help cover costs. 6. Understand the tax laws and regulations in Costa Rica, as taxes paid in the US may not be applicable there. 7. Expats should be aware of the environmental impact of their lifestyle, such as water and electricity usage, and seek ways to reduce their carbon footprint. 8. Find connections with the local people and get involved in the community to make the most of the experience," explained one expat living in Costa Rica.

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"I have a real estate and military background. Of all the places I have done business and lived in around the world; Costa Rica is the most devious, unfriendly, gouging, and expensive place I have visited. Tried to do business there. The lawyer stole my money and another over charged me by 4 times normal fees. Ticos generally dislike "Gringos" and try to rip off visitors in every way. Deeds Titles and the law are all stacked against you and if the thieves and robbers don't get you the lawyers and courts will. Consider yourself warned," said another expat in San Juan, Costa Rica.

Where should I setup a bank account in Costa Rica?

If you live in Costa Rica, newcomers to Costa Rica would love to hear your answer to this question.

About the Author

Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.