Where to Exchange Money in Colombia? 10 Easy Steps

Today, I want to address the question of where to exchange money in Colombia? This post was inspired by one of my YouTube commenters and their exact question was: “Where would you suggest to exchange money in Cartagena?” This question stuck with me because it highlighted a crucial point about traveling and money management, especially in Colombia.

My Experience with Money Exchange

I’ve never traveled with a wallet full or a pocket full of cash to Colombia, nor have I searched for a place to exchange money upon arrival. Instead, I always use my debit card to withdraw cash directly from ATMs. This method typically offers the best exchange rates.

For those who bring a wad of cash and then look around wildly wondering “where to exchange money in Colombia???” Well hey, lemme tell ya, that’s a recipe for getting ripped off – fast! When you land on Colombian soil, you’re in a different territory, and the local exchange places can charge what they want. If you step up to a money exchange line with your U.S. dollars, be prepared to get a poor exchange rate. Your U.S. bank will almost always give you a better rate.

Using ATMs in Colombia

This video is a quick guide on how to use ATMs (cajeros) in Colombia to ensure you get the best exchange rate.

Steps to Use an ATM in Colombia

1. Insert Your Card: Put your card into the ATM.
2. Select Language: Choose English for ease of use.
3. Transaction Type: Select either a balance inquiry or withdrawal (we’re focusing on withdrawals here).
4. Account Type: Choose to withdraw from your checking or savings account (example: checking account).
5. Amount: Enter the amount you want to withdraw. For example, 300,000 pesos, which is about $70.
6. PIN: Enter your PIN and press accept.
7. Conversion Option: When prompted, always decline the conversion. Your U.S. bank typically offers a better conversion rate.
8. Complete Transaction: Wait for the transaction to process and collect your cash.
9. Receipt: Choose whether to print a receipt or view it on the screen. I always opt for a printed receipt.
10. Retrieve Your Card: Make sure you get your card back before leaving.

And that’s it! Simple, right?

Where to Exchange Money in Colombia? Final Thoughts…

You can handle your money however you like, but using ATMs has always worked best for me. I hope this guide helps you get the best exchange rates and avoid unnecessary fees while traveling in Colombia.
Learn more about Colombian Money.