a VirtualTourist member from Los Angeles asked on Nov 30, 2008
what is the best way to deal with the money issue in colombia. Should I pay in US dollars....or should I go to the ATM and take out pesos....and pay everything in pesos. The american dollar is much stronger these days, and I feel that paying in pesos will get me more....since when trying to reserve hotels...the hotels have been using older conversion rates.
As I said earlier-use ATMs. Irrespective of the exchange rate.
Besides, why is it that people (mostly americans) always think they can pay everything in cash USD when in a foreign country? The majority of countries have their own currency and that should be used when in that country.
My euros are not accepted as payment in the USA.
As Noel says you should use the ATMs. The ATMs are easy to find and easy to use. Well, sometimes if it says 300.000.000 in the window when you are withdrawing money,it is 300 000 pesos.
It can be good though to bring some dollars in case there are problems with the ATMs and you need to change money.
I'm wondering... As Colombia is full of dollars, is it better to bring some dollars or euros?
Yes, full of USD. The hotels quote in USD but when settling the account they will refer to pesos. Normally when I make reservations they quote their rates in pesos to me.
As being European (euro) either way is profitable for me, as it shows on my credit-card/bank statements. :-))
The ATMs of the Davivienda bank give 500 000 pesos as maximum, the others give 300 000 pesos as max. At least that was the case these last 2 years and as recently as in last August.
I always have just around 100-200 euros in cash when going to Colombia, changing a small amount of it (50 euros normally) at the airport when I arrive.
But for me it's a little different, I travel frequently to Colombia (and Peru, same procedure) so I always have some "left-overs".
Thanks for all the replies...this is exactly what I thought.....Whenever I travel I use ATM's of the country which I am traveling to. Just because I ask the question.....does not mean that I expect another country to accept american money. The only reason I ask is because when I was in costa rica....many of the taxi drivers, and some of the drivers prefered the american dollar....and offered a discount if things were paid on dollars. I just wanted to see if things were the same in colombia.
You can use your credit card for most expenses.
OK-understood. See you around.
Safe and happy travels (Mira also!)