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Use of American Dollars in Colombia? Quick!

Hi need some last minute advise here on how many places in Colombia will accept American Dollars. most every where else I've been in latin America Has accpted them freely. I know you lose alot exchanging them and most small buisness won't take them but other wise what do you think?

Thanks alot

ice

By ice on Jun 9, 2008, 23:06 in Travel tips.

travelingirl says on Jun 9, 2008, 23:31:

I never paid for anything using dollars, but that's just me. I never tried to either, so I guess I'm not much help. :( However, I would think that if anyone was going to accept dollars it would be the small business instead of places like Exito or Carrefour.

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Cheers Terry says on Jun 10, 2008, 00:07:

I can't think of one good reason to use US cash in Colombia.

Cheers,
Terry

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adrimm (Moderator) (☼Travelguide writer) says on Jun 10, 2008, 00:21:

I've never tried (I agree with Cheers_Terry), but I doubt they would be widely accepted. You'll loose less if you just withdraw COP using an ATM.

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Ekdog says on Jun 10, 2008, 02:00:

"You'll loose [sic] less if you just withdraw COP using an ATM."

"Loose" is an adjective, not a verb.

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sloopskipper says on Jun 10, 2008, 03:11:

ATM is the only way for me to go, also.

Seems that some people think "everybody's outa step but me".

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bickerss says on Jun 10, 2008, 03:45:

Have only ever seen it used on the coast in Cartagena. Most other places wont accept it. Plenty of places where you can change USD, although there is no black market (that I have seen).

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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viajero123 (☼Travelguide writer) says on Jun 10, 2008, 03:49:

Some places in very touristy areas will accept it. If you try in other places run by their owners, taxis or similar mall-scale business, they might accept dollars. But I am sure the exchange rate they give you will be even worse than changing your cash dollars in a casa de cambio. The Colombian economy runs in the peso, and only foreign transactions and international airfares (gradually less now) are quoted in dollars.

ATM and credit card are the way to go.

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Ctg Bound says on Jun 10, 2008, 06:42:

ice,

The only places I have heard accepting US dollars is rental apartments.

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rjstuff says on Jun 10, 2008, 08:34:

I disagree with adrimm. I tried travelers checks, dollars etc. and the exchange rates and fees are between 4 to 12%. The best is to use ATM cards and get pesos - fees only 1% (on my ATM card). After my first trip - I (and my wife) only use ATM cards for cash and visa card for charges and it has just been 1% fee - and its been the best rate for us (when we compared). A few places in Cartagena and Barranquilla (hotels and such) accepted US dollars but they were charging too much fee on exchange (I found this true also in Mexico, Costa Rica, India etc.)

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Mononoke28 says on Jun 10, 2008, 08:49:

Once my dad only had dollar bills to pay his cab fare from Rionegro to Medellín and didn't realize it, so when he handed out the bills to the guy saying that was all he had the guy threw a fit. Oh my gosh, he went crazy. So then my dad had to get a neighbor to pay the fare for him and then pay him back. Other people have told me that they've had a lot of trouble when trying to pay in US dollars in Medellín but I've never done it though.

Diana

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Cheers Terry says on Jun 10, 2008, 08:49:

The bottom line is that you're in a foreign country (unlike some) that operates on their own currency. Quite simply it's rude to flash USD and expect people to accept them. You'll look like a dork.

Exchange your US Dollars for Colombian Pesos at a cambio and take a big hit, or use ATMs and credit cards which if handled properly give you fair exchange.

Your choice.

Cheers,
Terry

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ice says on Jun 10, 2008, 09:01:

That's great guys, thanks a lot. I guess I've just developed a habit using USD's. But would hate to be rude. I have a atm card that won't charge me a lot to take money out so I'll just go that route.

ice

If some one does want to buy my usd's just mp quick. i leave in a few hours.

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curramberochris says on Jun 10, 2008, 10:03:

If someone accepts US dollars then you are probably being ripped off too.

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BillBigD says on Jun 10, 2008, 10:14:

Times have change for sure, in 2001 in Medellin you could use US dollars and actually get a premium over the bank rate.

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Chriscan (☼Travelguide writer) says on Jun 11, 2008, 18:05:

The first time I went to Colombia, I had a hell of a time changing american money. Now it is at least possible. The only place it is easy is Cartegena.

I changed some american money at the back yesterday and asked if I could change some Canadian money that was sent to me as a gift. The banker was surprised that there was a difference between the two - the thruth is that there isn't in calue at the moment.

Bancolombia lets you take out the most at the atm. I always max out to avoid the $5 fee over and over. If you have time, it's the same price to take money out on you credit card at the bank teller and you can take out much more but that is being really thrifty.

Beam me up Scotty; No intelligent life here.

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adrimm (Moderator) (☼Travelguide writer) says on Jun 11, 2008, 18:44:

ekdog -I know the difference between lose and loose.. however at 12:30 am I'd say making a typo is allowed.

rjstuff - read my post again - I said to "you will lose less using an ATM".. (we are saying the same thing).

Chriscan - so were they able to exchange CADs for you.. sounds like no, but I just want to find out..

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dwr says on Jun 12, 2008, 07:16:

You didn't hear? The Colombian peso was replaced by the US Dollar. Come on down and spend freely!

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rjstuff says on Jun 12, 2008, 09:23:

adrimm - I believe the best way to withdraw money in Colombia is by ATM (the worst by getting dollars converted) - this is borne by my three trips there, and by my wife's experiences while living there. The best way to send money (on a regular or irregular basis) is dinero seguro (or moneygram). This has been our experience.

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