How to Convert a Dollar Into a Peso Colombian
If you’re planning a trip to Colombia, you may want to convert some of your money into the country’s official currency, the peso. Fortunately, a dollar a peso colombiano is not hard to do.
The key is to find a currency exchange that charges you less in fees and offers a reasonable rate. Alternatively, you can use one of the many online currency converters available.
How to Exchange Money in Colombia
If you plan to travel to Colombia, you may want to exchange some of your money before you arrive. There are a few places to do this, including at the airport and in Colombia’s major cities.
The best place to exchange currency is generally at an ATM, as long as you’re charged in the local currency (the ‘real’ exchange rate). This way, you don’t have to worry about hidden fees or paying more for the conversion than you could get using XE.
However, there are other ways to exchange cash in Colombia — and it’s always wise to shop around before making any transactions.
In Medellin, you can find money exchangers at airports, shopping centers, and major tourist attractions. The downside is that these places don’t offer simple or safe transactions. Counterfeit bills are a problem, and trusting tourists can be easy targets.
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Finding a Currency Exchange in Colombia
You can find a currency exchange at airports, shopping centers, and major tourist attractions. However, the actual exchange rate you get will not be excellent, and the fees are usually very high.
Another option is to use a pre-paid travel card. These cards typically incur lower fees on Colombian peso currency exchange than credit and bank debit cards.
As a result, they are often the best option for travelers. They also allow you to hold multiple currencies in one account, avoiding DCCs and other sneaky charges that can be attached to Colombian pesos.
Some hotels and tour companies accept bank transfers, which can easily make payments without carrying much cash. The downside is that they can be a pain to make.
Converting Money from U.S. Dollars to Pesos
The US Dollar is the most commonly used currency in the world. It is also the most valuable currency, which has risen dramatically against other currencies since the early 2000s.
The USD is denominated in bills of $1, $2, $5, $10, $20, $50, and $100. It is also denominated in coins, including 1, 2, 5, and 10 centavos.
In Mexico, you can use US dollars at most stores and restaurants. However, it’s essential to remember that the currency exchange rate can vary from shop to shop and restaurant to restaurant.
If you prefer to avoid carrying large amounts of cash, travel money cards are a safe and convenient way to spend in Mexican pesos. These cards allow you to top up your dollar balance and convert them to pesos at the local exchange rate when you want to make purchases.
Withdrawing Money in Colombia
There are several ways to withdraw money in Colombia. Cash is preferred, but credit and debit cards are also accepted.
The Colombian peso (COP) is the country’s official currency widely used nationwide. However, travelers should care when using credit and debit cards in Colombia, as robberies are common.
Alternatively, you can use a prepaid travel card with a Colombian peso balance. These are available from various providers and can provide some of the same advantages as cash.
Many cards are free to use in the country but have a monthly withdrawal cap, and additional charges may apply.
Expats should be aware that Colombian ATMs follow the international trend of levying a foreign bank card “conversion” fee that can be an unnecessary markup. Be wary of these fees, as they can add up quickly.
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