Compare ways to send money from Canada to Costa Rica

The exchange rate determines the price you’ll pay for Cost Rican Colon when you send Canadian Dollar to Costa Rica.

The current exchange rate between the Canadian Dollar and Cost Rican Colon is 361.6587. Wise offers the best exchange.

The CAD-CRC exchange rate is always moving.

It’s possible that waiting a day or two can help you get more CRC for the same amount of Canadian Dollar. But, the best way to lock in a price between Canada and Costa Rica is by using a forward contract.

A Bank Transfer is our recommended option for money transfers between Canada and Costa Rica. Wise offers the best price on a Bank Transfer.

A Bank Transfer to Costa Rica through Wise is 0.7% cheaper than the second-best option in the market.

Always choose providers that are regulated by financial authorities in both Canada and Costa Rica to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Canada and Costa Rica.

Some services have minimum or maximum thresholds on how much you can transfer from Canada to Costa Rica.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of CAD to Costa Rica. The combination of rates and fees when sending to Costa Rica is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Canada, or entering Costa Rica. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Costa Rica. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Canada to Costa Rica will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Canada into Cost Rican Colon. Wise is the best company for bank transfers between Canada and Costa Rica.

And if you need cash right away, check if cash pickup is an option for transfers between Canada and Costa Rica.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Wise.

When signing up to a money transfer company to send between Canada and Costa Rica, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Canada this will be a government ID like a passport or driver's license. In Costa Rica it will be a similar set of documents, although this should only be needed if you are opening a new account in Costa Rica, or collecting in cash.

Big transactions between Canada and Costa Rica, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in Canada.

When sending large amounts of money between Canada and Costa Rica there will be tax implications to consider.

Some transfers into Cost Rican Colon may need to be reported to tax authorities in Costa Rica, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in Costa Rica based on age, income and a few other elements. When in doubt, please contact a tax professional in Canada or Costa Rica to discuss your personal circumstances.