How will they charge me for exchanging Colombian currency? [closed]
![How will they charge me for exchanging Colombian currency? [closed] - Closeup of male American president printed on five dollar bill and looking away pensively](/assets/images/how_will_they_charge_me_for_exchanging_colombian_currency_closed_0.jpeg "How will they charge me for exchanging Colombian currency? [closed] - Closeup of male American president printed on five dollar bill and looking away pensively")
I will be traveling to Colombia next month and I'd like to know how they will charge me.
By this I mean that if the exchange rate is approximately 1 USD = 3000 COP, will the charge it as 3000 COP or will they deduct some money from it?
I ask this because when I send money through Western Union, if the exchange rate is 1 USD = 3000 COP they actually charge it as 2900 COP.
Best Answer
According to XE.com, today's exchange rate is 1 USD =3,117.01COP
An American expat living in Medellin has this to offer on where to get the best exchange rates. The full article also has very useful information on counterfeit currency (how to identify and avoid).
Exchanging Money
You can use ATMs, banks or money exchange places (casas de cambio) to get Colombian currency.
With ATMs you will usually get the best exchange rate. ATMs are plentiful in Colombia with several normally found in each mall. They are also found in many locations on the streets.
However, be careful of using ATMs located on the street; it is safer to use ATMs inside a mall.
At Medellín’s José María Córdova International Airport you will find ATM machines on the level with the airline check-in desks.
For exchanging currency, casas de cambio sometimes offer slightly better rates than banks and have more flexible hours plus provide quicker service. You can find casas de cambio in many of the malls in Colombia.
You will need a passport or cédula (Colombian ID) to exchange money in a casa de cambio or bank in Colombia.
A few times in the past I have seen casas de cambio with exchange rates slightly better than the rate found on xe.com. But this hasn’t been the case recently with the strong dollar.
Pictures about "How will they charge me for exchanging Colombian currency? [closed]"
![How will they charge me for exchanging Colombian currency? [closed] - Close-up View of Plasma](/assets/images/how_will_they_charge_me_for_exchanging_colombian_currency_closed_1.jpeg "How will they charge me for exchanging Colombian currency? [closed] - Close-up View of Plasma")
![How will they charge me for exchanging Colombian currency? [closed] - Pile of American paper money on black surface](/assets/images/how_will_they_charge_me_for_exchanging_colombian_currency_closed_2.jpeg "How will they charge me for exchanging Colombian currency? [closed] - Pile of American paper money on black surface")
![How will they charge me for exchanging Colombian currency? [closed] - One dollar banknotes placed on table](/assets/images/how_will_they_charge_me_for_exchanging_colombian_currency_closed_3.jpeg "How will they charge me for exchanging Colombian currency? [closed] - One dollar banknotes placed on table")
Where can I exchange Colombian pesos?
Most banks in Colombia do not exchange money. For that, you'll have to go to a money exchange, located in all major cities. There are money changers on the streets of Cartagena, but the street is not the best place for safe and honest transactions! Travelers checks are not worth the hassle, as they are hard to cash.Where can I exchange old foreign currency?
Summary: Where to exchange currency in the U.S. and abroad- Before your trip, exchange money at your bank or credit union.
- Once you're abroad, use your financial institution's ATMs, if possible.
- After you're home, see if your bank or credit union will buy back the foreign currency.
Do banks do currency exchange?
Yes. Many banks and credit unions exchange currency for their customers. It may cost a small fee, but it will likely be the best exchange rate you can get.How do I take money out of Colombia?
You can withdraw cash at no local charge(ATM) from the Davivienda and BBVA banks, which are present in every major city in the country. ATMs are easy to find by typing the bank's name into Google Maps. In general, the maximum amount per withdrawal is COP 300,000 (90$) in many banks up to COP 600,000 \u2013 900,000 (approx.Exchanging Currency Tips Colombia
More answers regarding how will they charge me for exchanging Colombian currency? [closed]
Answer 2
The current exchange is about 1 USD = 2915.6447 COP at Western Union.
If you pay by debit or credit card, the fee is about $20; and if you pay with "Bank account" (don't know what this is), the fee is $8 (but takes some days).
Have a look at it : https://www.westernunion.com/us/en/price-estimator/continue.html
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Karolina Grabowska, Pixabay, Karolina Grabowska, Matthias Groeneveld