Cash Withdrawls Can Cost
Getting your money from an automated teller machine (ATM) or from a bank teller at your local branch may actually cost you.

A study by the Ministerio de Economía (Ecomony Ministry) of 21 private and public banks reveals that financial transactions cost the customer as some banks, but most customers don't know it.

And that was the scope of the study by the Ministerio de Economía, who says that customers should be told of the cost of each transaction, be it at an ATM or at a teller.

The study shows the some banks charge from ¢50 colones to ¢350 colones for an ATM transaction and up to ¢500 colones at a teller is the balance is below the minimum at the time of the withdrawl.

In addition, some banks charge their customers an annual for issuing them a "debit card" that can range from ¢1.000 colones to ¢3.500 colones.

Debit cards are plastic that is used in lieu of cash. The Banco Nacional, a state bank, charges it's customers for the privilege of having one of their debit cards, while the other state bank, Banco de Costa Rica and many private banks like Scotiabank and Interfin do not.

ATM's operted by the ATH network are free to use to most customers of private banks. However, ATM's operated by the BAC San José, anothe private bank using the Red Total network can charge up o $3 per transaction.

Foreigners have in the past complained about excessive costs added to their statement for the use of ATM's in Costa Rica to withdraw cash while on their visit. Some of those charges are from their banks, but many are from the bank operating the ATM.

If you have an account a bank in Costa Rica it advised that you check with your bank on the cost of the use of their ATM's and that of competitors, as well as the cost associated with their debit card.

Customers can also call the Ministerio de Economía hotline at 800 866 7866 to get more information or lodge a complaint.