The United States embassy in Costa Rica has reminded everyone that lives or is traveling in Costa Rica to be aware that on February 1, 2022, the Costa Rican government will be withdrawing ¢20,000 colones bills printed on cotton paper from circulation.
The old cotton bills are soft and feel similar to U.S. currency. The new ¢20,000 bills are printed on polymer plastic and are smooth with a small, transparent window
Other denominations that will also be affected this year are:
· ¢5,000 colones bills printed on cotton paper will be withdrawn from circulation on March 1, 2022.
· ¢2,000 colones bills printed on cotton paper will be withdrawn from circulation on May 1, 2022.
· The Central Bank has not announced a withdrawal date for the ¢10,000 and ¢1,000 bills printed on cotton paper.
The ¢50,000 colones bill on cotton paper has already been withdrawn from circulation. There is no replacement for the ¢50,000 bill and so that denomination does not exist anymore.
What to do:
Those living in or who are traveling to Costa Rica during these dates are encouraged to deposit or exchange any ¢20,000 colones bills printed on cotton paper at a bank as soon as possible, as they will not be accepted as valid currency starting February 1, 2022.
This is also applicable for the ¢5,000 colones bills on March 1 and the ¢2,000 colones bills on May 1
If you encounter problems with the exchange or deposit at bank offices, ATMs or for in-person transactions until the deadline, you may report this to BCCR by telephone at 2243-3333 or by e-mail at [email protected], in order to review each case.
For more on the history of plastic money and how we got here check out this video
