What is the best Way to change Money in Colombia ?

calipro says on May 3, 2007, 02:00:

Brasiliero Traveler's checks are a bad deal all the way around. They cost money, you'll have to stand in line to cash them and you won't recieve the best exchange rate either.

Any debit or credit card with a Visa or Mastercard logo on it will work at most any ATM in Colombia. Check with your bank to see what the withdrawal fee will be. Good banks like PayPal and Compass bank will charge you a $1 fee others will charge up to $5 bucks a pop.

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scotty says on May 3, 2007, 03:22:

he's right calipro is right stay away from the travel checks. if you are going to use a bank you need to check around and see what the fees are. I have heard good things about compass. I dont know anything about paypal.

Get Rhythm, when you got the blues. Johnny Cash

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Colombian living outside says on May 3, 2007, 05:38:

600 daily I just did all my investigation about it and definitely the best way are ATMs. There are also places for exchanging dollars, but it is more expensive to do it that way. Even if your bank charges you something for that, it's better than the rate you get from the exchange places and the travel checks. There are also some banks that give you 4 free uses of the ATM per month and then charge you if yoy use it more. You can only take out about 600 dollars daily, so better be awere of that. That includes the payments you do in shops with your card. You don't get charged for buying in stores, so try to do it with your card when ever you can.
Be carefull with men that exchange in the street!! Are not real dolars!!

Colombian living outside

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frankdeboca says on May 3, 2007, 07:40:

Options... Afraid the "best" way is going to be personal choice. You can change your money in any casa de cambio located in many places such as the airport and most shopping malls ... in the small street sections also. Each will have a different exchange rate but most are fairly accurate. ATM's are an excellent way to get your money in COP's and most of the major banks' ATM's there will readily accept your card. Pay what you can with your VISA (seems the most readily preferred over Mastercard and AMEX) and avoid street vendors (the money is often fraudulent) and dont use the hotel exchange unless you really have to (their exchange rate will be horrible). You will need the COP's because it always seems a 50/50 shot that when you buy something from the little corner store they will not be certain of the exchange rate of the day. On the other hand I've been stuck before with only gringo dollars after hours and no ATM nearby... in this case a local jeweler is a good bet- they will usually be happy to exchange for the US dollar if they have the COP's on them for the trade- just be fair with them in the exchange rate (you will have to negotiate the price). COP's are much easier and faster.



~The key to immortality is to first live a life worth remembering...

~The key to immortality is to first live a life worth remembering...

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vicshere says on May 3, 2007, 07:45:

hey frank i have found a cash advance on my visa has the best exchange.....it has a 2.00 $ Can charge for service and you pay interest for that month...but i can cash advance 2,000,000 at a time.....and thats cause i have an account at that bank other wise if they dont know you the most you can cash advance is 500,000

listo

listo

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frankdeboca says on May 3, 2007, 08:22:

Thanks vic... Good idea vic - will try it next time - thanks

~The key to immortality is to first live a life worth remembering...

~The key to immortality is to first live a life worth remembering...

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aztec says on May 3, 2007, 08:54:

I can tell you... ...the worse way to exchange money: American Express Travelers Checks. Had extreme difficulty cashing those. Don't bring them to Colombia.

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Robert Jorge says on May 3, 2007, 10:16:

Aztec is correct. If you really enjoy wasting time, raising your stress level, and prefer to get screwed as much as possible on exchange rates, use traveler's checks. ATMs are the way to go.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

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miamimike says on May 3, 2007, 11:22:

PayPal would Solve the Problem But from the Link Below you will see Paypal is not available in Colombia; either to receive or send. Security(lack of) is the reason given to me on a past inquiry. It would greatly simply life if it was; surprising it is(available) in neighboring Venezuela and Ecuador,,,It is, in fact,the only country in South America, along with Paraguay, where Paypal is not accepted


https://www.paypal.com/cgi-bin/webscr?cmd=_display-approved-signup-countries-outside

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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