Foreign Exchange Guide to Columbia
In this guide we review :
- Colombian peso info - general info about the Colombian peso
- Travelling in Columbia - currency & money saving tips
- Buying Colombian peso cash online - travel money for Columbia
- Sending money to Columbia - save on Colombian peso bank transfers to Columbia
- Colombian peso exchange rates - latest info & charts.
Colombian peso (COP) general currency information
Columbia currency and money saving tips
Colombia today is far safer and more accessible than it has been in decades. Most guerrilla and paramilitary activity is confined to rural areas near the border with Panama and Venezuela. However, it’s important that you stay abreast of current events. Crime does exist, particularly in poor neighbourhoods of the big cities, but tourists are far more likely to encounter pickpockets, so keep an eye on your belongings.
ATM's are available across the country, however changing large notes can be problematic outside big cities. A passport and onward ticket are the only visa and entry requirements for most western countries. Vaccinations are important before heading to Columbia
The local currency is the Pesos, however in columbia, as with most countries in South America it is often a good idea to travel with a combination of currencies to have along with your credit card. Sometimes foreign cards may not be accepted at ATMs and often cash is the only way to pay so have some local currency and some US dollars on hand as well as you can generally pay with USD everywhere. However in some cases the only ATM's that give USD are at airports and major banks. A Pre-paid Travel Card may be useful to avoid scams on your credit card. Small towns may not have ATM's at all. Make a point to check your bank account for strange withdrawals as cards get skinned fairly often. Be sure to have travel insurance when traveling in South America, you could consider choosing a credit card that comes with complimentary travel insurance.
Columbia Trip Checklist
Travel money for Columbia
Save money and time by Ordering your Colombian peso online from Travelex, you get better rates and can pick up the COP cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Colombian peso otherwise you may get much worst exchange rates.
Sending money to Columbia
When sending money to Columbia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Colombian peso amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted COP amount will be transfered to the recipient account you specify in Columbia.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Colombian peso deposited into the recipient bank account in Columbia and less margins and fees kept by the banks!