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Rodeo9112
04-04-09, 03:17
Hey everybody,

Not to be a stick in the mud or anything, but, I think its necessary to point out that Manizales was just offering a bit of advice to us all on something that has proven successful for him in the past. For those that have posted additional, perhaps unknown information regarding customs and declaration issues, this was very relevant in order to give additional considerations. However, I don't think its necessary to go back and forth slamming each other on pros or cons, when we're all just trying to share information.

We are all adults and capable of making our own decisions and taking the appropriate risks. Lets just agree to disagree on the whole money exchange thing and move on. I don't want to come off on a bad note, just don't want to see the thread hijacked by the back and forth.

To all that have posted, thanks for the info!

Rodeo

Napalm
04-04-09, 04:51
I have never had a problem with pesos I got from an ATM.

I would be concerned about the cambios but less so with an airport cambio.

Colombia has ways to fuck you that you never would have imagined. I believe you on that!

Another thing I would be worried about is if TSA or Customs does any kind of drug swab on your fat wad of cash. I remember hearing something on the news years ago about how most money even here in America has traces of cocaine, etc. On it. I can only imagine what the dollars in Colombia are like in that regard!

In the end it doesn't really seem worth it to me. But everyone's got to find their own acceptable risk/reward levels.

Tom 33
04-04-09, 12:50
I could have $9, 999. And they can't say shit because the law says $10, 000. And the law is the law and most importantly you would be dealing with a USA Customs agent that will stick to the law not a Colombian official that might make shit up as he went along.Thanks for your comments.

Remember that you will have to clear Colombian customs with the cash before you ever meet a US agent. About 5 years ago I was leaving Cartagena for Miami and had around US$4000 cash with me. That cash was discovered during the Colombian carry on search. The soldier quickly counted it. Then let me pass. Colombia, even more so today, is very sensitive to money-laundering issues.

Colombian officials, especially soldiers who search bags, do not know their own laws. Anything that raises any red flags can cause delays and potential problems. I prefer to fly under the radar.

For those who don't, you are not breaking any laws as long as you keep it under US$10, 000(Relapse is safer with $9500), and you may make some money. It is not illegal to exceed the $10K on the US end, but it is illegal in Colombia.

Justafool
04-04-09, 17:46
Even if you were to take back more that 10, 000 US$ to the US you have little to worry about. You just need to claim it, file a for and have a good day.

The only way you will have problems is if you had a couple of extra funds in your possession that you forgot to figure in or if you get caught structuring monies but having you co-traveler carrying funds as well (and customs thinks you are structuring). In most cases if you do not claim it it will be seized but you will most likely get it back in time if you go after it.

I do not know what happens for customs. I know entering and leaving they always ask how much US$ are you carrying.

When you come into US do not fear the Customs just be honest, if you have $10, 000 or more, claim it or lose it.


If you read my post you will see that I mentioned several times that I do this at the airport as I am leaving the country,I know very well the risks of what I am doing and have reduced the risk to next to nothing by dealing with an airport ATM and an airport cambio. And I ALWAYS keep it just under $10,000. USD. I could have $9,999. and they can't say shit because the law says $10,000. and the law is the law and most importantly you would be dealing with a U.S. customs agent that will stick to the law not a Colombian official that might make shit up as he went along.

There is no question that if you are a fuck up and don't follow the guidelines that I have laid out here that you could get screwed. I for one am not a fuck up and have done this many times and have been very successful with it.

Member #4258
04-04-09, 22:37
Next time I go to CTG I'm going to try it on a smaller scale like maybe $2000 to see how it works out and I'll post the exact results.

I know this has been asked a ton of times, but which bank offers no fee foreign withdrawls? Citibank? I'll need to open an account to maximixe the return.

Hoser

Justafool
04-04-09, 23:22
Citibank will not charge if you are a Goldmember if not you will be charge 1% for an ATM withdrawal at a Citibank ATM. There are two in Medellin and one in Cartagena. There are others around Colombia.

I heard Capital One does not charge but I am notsure how they work. My CO CC does not charge a service fee.


Next time I go to CTG I'm going to try it on a smaller scale like maybe $2000 to see how it works out and I'll post the exact results.

I know this has been asked a ton of times, but which bank offers no fee foreign withdrawls? Citibank? I'll need to open an account to maximixe the return.

Hoser

Member #3435
04-05-09, 03:03
Next time I go to CTG I'm going to try it on a smaller scale like maybe $2000 to see how it works out and I'll post the exact results.

I know this has been asked a ton of times, but which bank offers no fee foreign withdrawls? Citibank? I'll need to open an account to maximixe the return.

HoserCapital One. Open an on-line "direct" account. I haven't used it myself yet but this is the bank that several members have refered to.

A tip: Open with plenty of time before your next trip. It takes 2 or 3 steps involving snail mail before you'll get your ATM card. I'm still waiting for mine but am confident it will arrive in time before my upcoming trip and with at least a few days to test it before hand.

Schwmm

AddictedToWomen
04-05-09, 06:22
.. most importantly you would be dealing with a u.s. customs agent that will stick to the law not a colombian official that might make shit up as he went along. as i mentioned earlier if *colombian* customs find more than usd10k on you they can confirep001e.

Tom 33
04-05-09, 12:31
as i mentioned earlier if *colombian* customs find more than usd10k on you they can confirep001e.this is correct. not only can they, they will.

colombian customs can do anything that they want.they can miscount, they can decide that you are laundering money even if you have less than 10k, and/or they can confirep001e 5k. what are you going to do about it?

El Minetero
04-05-09, 13:43
I just got my no fee ATM card from Mechanics Bank www.mechbank.com. I haven't had a chance to use it yet, but I'll be in Colombia April 22. I've heard that MechBank also refunds any foreign bank fees. They gave me a Visa card too.

El Minetero

Member #4258
04-05-09, 16:30
If you read my post you will see that I mentioned several times that I do this at the airport as I am leaving the country, I know very well the risks of what I am doing and have reduced the risk to next to nothing by dealing with an airport ATM and an airport cambio.We're talking about withdrawling 25 million COP at the airport. I think the ATM limits are about 400, 000 COP per transaction so that's 62 withdrawls. I just called BOA and they are going to charge me $5 per withdrawl plus 1% foreign exchange. The max (that they will allow me) is $1500 USD per day.

So Capital one is 0% foreign exchange and no ATM fee?

Thanks for being patient and sharing your system. I believe it works but it's just a matter of understanding the logistics.

Hoser

Furysys
04-05-09, 17:26
Reading the last few posts, it would seem to me you are trying to arbitrage the US$ v Colombian peso, taking advantage of the slow reaction times of the various markets. For myself, I'd be really cautious about this sort of thing, given what is currently going on with the banking system in the US (and other issues), you're just giving the customs boys another reason to keep an unnecessary eye on you as you return from Colombia. We already put up with enough bs from them, why ask for more problems?

Rodeo9112
04-22-09, 21:46
Wow! I just checked the rates in anticipation of my trip next week and it's down to 2113! Below 2200 for the first time in awhile. Of course it could get jacked up to 2800 in a week you never know!

AddictedToWomen
04-23-09, 11:25
Wow! I just checked the rates in anticipation of my trip next week and it's down to 2113! Below 2200 for the first time in awhile. Of course it could get jacked up to 2800 in a week you never know!Check out the extent of the rout at http://www.advfn.com/p.php?pid=forexqkchart&curcode1=USD&curcode2=COP

With the dollar weakening against most major currencies and the Colombian economy being regarded as fairly stable I doubt we'll be seeing a return to high level just yet.

Tom 33
04-23-09, 11:28
Wow! I just checked the rates in anticipation of my trip next week and it's down to 2113! Below 2200 for the first time in awhile. Of course it could get jacked up to 2800 in a week you never know!I think that you are looking in the wrong place. Bloomberg has it at 2316: http://www.bloomberg.com/markets/currencies/americas_currencies.html

AddictedToWomen
04-24-09, 00:26
I think that you are looking in the wrong place. Bloomberg has it at 2316: http://www.bloomberg.com/markets/currencies/americas_currencies.htmlIts like living in the Weimar Republic: 2301 now.

Mrmrmr
04-29-09, 21:52
Does anyone know where I can exchange $$ in Medellin when I arrive?

ATM is not an option for me.

I'll be staying at the MM.

Thanks!

Manizales911
04-30-09, 08:41
Does anyone know where I can exchange $$ in Medellin when I arrive?

ATM is not an option for me.

I'll be staying at the MM.

Thanks!You can exchange right in the airport.

The rate will suck though.

Mrmrmr
05-04-09, 20:37
You can exchange right in the airport.

The rate will suck though.Thanks Mani,

I may e3xchange a small amount at the airport just to have some pocket cash when I arrive but will want to use mostly places in the city. Any recommendations? Will the MM exchange for you?

Manizales911
05-05-09, 04:50
Thanks Mani,

I may e3xchange a small amount at the airport just to have some pocket cash when I arrive but will want to use mostly places in the city. Any recommendations? Will the MM exchange for you?First, I hope you understand that your best rate is going to come out of an ATM.

When I stayed at the MM I hit the ATM prior to leaving the airport so I couldn't tell you if they exchange dollars for pesos.

Tom 33
05-05-09, 12:33
Thanks Mani,

I may e3xchange a small amount at the airport just to have some pocket cash when I arrive but will want to use mostly places in the city. Any recommendations? Will the MM exchange for you?http://www.encolombia.com/economia/CasadeCambios/CasadeCambio-Medellin.htm

I think that the rates are generally pretty much the same.

Manizales911
05-07-09, 15:04
Peso opened at 2201. today, WTF!

Midwest
05-08-09, 22:23
I'm thinking of converting at least a couple of hundred usd here in the states just to hedge a little. (with my luck the cop will hit 3, 000 as I land in mde 1st week of June)


Peso opened at 2201. today, WTF!

Tom 33
05-09-09, 11:05
I'm thinking of converting at least a couple of hundred usd here in the states just to hedge a little. (with my luck the cop will hit 3, 000 as I land in mde 1st week of June)Don't waste your time or money. You would be lucky to get 1700 converting in the States, if you could even find a place to do it.

Midwest
05-12-09, 23:31
Just as an option to arrive in Colombia with pocket money.

Yesterday, when yahoo finance

http://finance. Yahoo.com/currency-converter? Amt=1&from=USD&to=COP&submit=Convert#from=USD; to=COP; amt=1

Quoted usd to cop at 2210, I checked with chase bank. They were offering same at 2000. If you have an account with them, there's no exchange fee but they need 2 business days to get your c. O. P.


Don't waste your time or money. You would be lucky to get 1700 converting in the States, if you could even find a place to do it.

El Minetero
05-16-09, 16:32
Does anyone know which banks allow 400,000 COP per transaction?

El Minetero

Relapse1952
05-16-09, 17:55
Does anyone know which banks allow 400,000 COP per transaction?

El MineteroCity Bank, Avenada Poblado $800,000. pesos

Relapse

Mackin
05-16-09, 18:13
Comming down next month so exchanged some money on Wednesday. Got 2000 peso per US 1. 00. From Fifth Third. No other charge if purchase more that $250. 00. At a time.

Hope this helps if you are in a 5/3 area.

Tom 33
05-16-09, 21:21
Does anyone know which banks allow 400,000 COP per transaction?

El MineteroBancolombia is one. They have ATMs all over.

I think Davivienda is another.

Tom 33
05-17-09, 12:55
Comming down next month so exchanged some money on Wednesday. Got 2000 peso per US 1. 00. From Fifth Third. No other charge if purchase more that $250. 00. At a time.

Hope this helps if you are in a 5/3 area.The current rate is 2252.80(TRM - http://www.banrep.gov.co/). If the rate does not change between now and next month, that is the rate you could get from the ATM in the airport.

Are you looking for a better than 10% drop in the value of the dollar versus the peso in a month?

El Minetero
05-18-09, 02:11
Thanks for the replies. I'm in Pereira. The Bancolombia ATMs only give 300, 000 per transaction, maximum of 6 transactions. My rent is 2m a month, I have to make withdrawals over two days. I'll check into Davivienda, and whether there's a Citibank here.

El Minetero

El Minetero
05-18-09, 15:44
Found out this morning that Davivienda does allow 400, 000 at a time, not sure how many times. Wasn't able to talk to them about a one time transaction with a person yet. There is a Citibank here, I'll go there today.

Thanks,

El Minetero

Kdogg21
05-18-09, 15:45
Citibank lets you take up to your daily limit of the card, I have withdrawn 1,000,000 in a single transaction.

Manizales911
05-20-09, 01:07
I want to let anyone that has given a thought to making money by taking advantage of exchanging pesos into dollars for deposit in the states that the ruse is up (for now anyway) I was at the Bogota airport today and they were selling dollars for 2250. Oh well, it was good while it lasted, I made almost 10,000. USD profit in the past year give or take. If it swings back in our favor I'll be sure to give everyone a heads up as I go between Colombia and the U.S. every month.

Lusifer69
05-21-09, 06:23
Because my shity Bank has such horrible rates and fees for international ATM withdraws. I have decided to take mush of the money I plan 2 use cash. And I would like 2 know where is the best place 2 exchange cash USD into COP in Bogota?

Tom 33
05-21-09, 11:50
Because my shity Bank has such horrible rates and fees for international ATM withdraws. I have decided to take much of the money I plan to use cash. And I would like to know where is the best place 2 exchange cash USD into COP in Bogota?It will cost 7 to 9% to exchange cash.

I would strongly consider changing banks if your fees are that high.

CapitalOne charges nothing.

World Travel 69
05-21-09, 15:55
My buddy did that and did not get good exchange rates.


Because my shity Bank has such horrible rates and fees for international ATM withdraws. I have decided to take mush of the money I plan 2 use cash. And I would like 2 know where is the best place 2 exchange cash USD into COP in Bogota?

Bobsthrobbinknob
05-22-09, 03:21
My buddy did that and did not get good exchange rates.I would not do that, no one wants the cash AND security will hound the shit out of you about how much money you are carrying. At least that was their only concern last time I went.

Oh Ya Papi
06-05-09, 02:19
This is bullshit! Watched it fall from 2800 to 2000, and now I go to Medellin for 2 months. Whats up and any turn around? What do you guys think!

AddictedToWomen
06-05-09, 08:54
I would not do that, no one wants the cash AND security will hound the shit out of you about how much money you are carrying. At least that was their only concern last time I went.This is good advice: The repatriation of large amounts of cash from drug transactions is what the customs guys are looking for.

AddictedToWomen
06-05-09, 08:56
This is bullshit! Watched it fall from 2800 to 2000, and now I go to Medellin for 2 months. Whats up and any turn around? What do you guys think!Seems to be mainly a dollar collapse. Don't see that turning around for a while. My guess would be next near if Uribe doesn't get a 3rd term.

John Gault
06-05-09, 15:32
This is bullshit! Watched it fall from 2800 to 2000, and now I go to Medellin for 2 months. Whats up and any turn around? What do you guys think!The dollar is going to keep falling as long as Washington thinks that printing money is the way to get out of problems that are not going away.

Av8r
06-24-09, 19:05
I just opened a Citibank Checking account to take advantage of the 20k AA airline miles. Would it be worth it to transfer my vacation money into it rather than use my Bank of America ATM?


Citibank lets you take up to your daily limit of the card, I have withdrawn 1,000,000 in a single transaction.

MiamiHeatLuver
06-24-09, 20:28
I just opened a Citibank Checking account to take advantage of the 20k AA airline miles. Would it be worth it to transfer my vacation money into it rather than use my Bank of America ATM?Im pretty sure Citi is charging 2% and an additonal foreign transaction fee.. which is only waived when you have a citigold savings account. What are BOA foreign transaction rates?

Malodr
06-24-09, 23:35
I just opened a Citibank Checking account to take advantage of the 20k AA airline miles. Would it be worth it to transfer my vacation money into it rather than use my Bank of America ATM?Yes it would cause you won't pay a fee at their banks in Medellin.

Neworlean
06-25-09, 01:02
The best card to use internationally is capitol one. Capitol one is the only ATM card and credit card that does not charge an international transaction. Assume you withdraw 1000 at Citibank, the international transaction fee is 3% or 30 buck. If you use a capitol one card and do 2 five hundred dollar withdrawals you would only at max pay 10 bucks. I am not exactly sure what the international transaction fee for each bank is because it varies from card to card however I do know that Capitol one is the only card that does not charge a transaction fee.

Justafool
06-25-09, 05:30
They do charge a fee for exchange unless you are Gold. If you are Gold they claim they will charge a fee for withdrawals from savings but not checking. I do not know this to be true since I only took from savings and they did not list any transactions fees.


Yes it would cause you won't pay a fee at their banks in Medellin.

World Travel 69
06-25-09, 06:11
I believe if you put your money in Citi and redraw it from a Citi Bank you will get more Air Miles.

At least I have been getting extra miles for the last few years. Unless they have changed their policies recently.


I just opened a Citibank Checking account to take advantage of the 20k AA airline miles. Would it be worth it to transfer my vacation money into it rather than use my Bank of America ATM?

Av8r
06-25-09, 08:20
Thanks,

I found out that Citibank charges 3% and Bof A charges 1%, so I guess I'll continue to use my BofA card. I heard Capitol one is a good card to use, but I don't want to open a new account. I do too much credit card churning to earn frequent flyer miles, and it stops them from accepting applications if they see too many other accounts opened.

El Minetero
06-25-09, 12:47
I have a debit card and credit card through Mechanics bank www.mechbank.com and they don't charge me any fees, foreign transaction or otherwise, nor do I pay any local bank fees. I'm living in Pereira, and mostly use Davivienda because I can get 400,000 at a time from the ATM, I've made withdrawals of 2,200,000 some days. There's a Citibank here, I can draw 2,000,000 from them, but it's a trip, Davivienda is an easy walk from my apartment.

El Minetero

MiamiHeatLuver
06-25-09, 21:21
I believe if you put your money in Citi and redraw it from a Citi Bank you will get more Air Miles.

At least I have been getting extra miles for the last few years. Unless they have changed their policies recently.You get miles withdrawing money?

And not charging things?

I don't think thats correct..

Parcero
06-26-09, 01:10
Thanks,

I found out that Citibank charges 3% and Bof A charges 1%, so I guess I'll continue to use my BofA card. I heard Capitol one is a good card to use, but I don't want to open a new account. I do too much credit card churning to earn frequent flyer miles, and it stops them from accepting applications if they see too many other accounts opened.One percent for B of A and five dollars per transaction.

AddictedToWomen
06-30-09, 15:17
Thanks,

I found out that Citibank charges 3% Don't know where you found that out from.

I use a citi card in citi ATM without %.

MiamiHeatLuver
06-30-09, 17:20
Don't know where you found that out from.

I use a citi card in citi ATM without %.I used my Citibank AA ADVANTAGE CARD in Cali last fall and they charged me 2% plus an international foreign transaction fee. But when I used it in MDE in November at the Citibank ATM there was no fee. But as of Jan 1st they were telling me ALL of citibank ATMs were going to start charging at first 3% but then lowered to 2%. I have bank statements to back all of this info.

AddictedToWomen
06-30-09, 22:28
I used my Citibank AA ADVANTAGE CARD in Cali last fall and they charged me 2% plus an international foreign transaction fee. But when I used it in MDE in November at the Citibank ATM there was no fee. But as of Jan 1st they were telling me ALL of citibank ATMs were going to start charging at first 3% but then lowered to 2%. I have bank statements to back all of this info.No idea. Type of card/account you've got maybe?

Golfinho
07-01-09, 02:17
1% with BOA. better exchange rates and no transaction fee with the preferred account (minimum 100k balance.)

Pinga 98
09-19-09, 17:38
Citibank started charging 2% fee around two years back. Before that, there was no fee for foreign transactions as long as you used their ATM. In fact, most credit cards started to tack on this charge either explicitly or implicitly (like AmEx).

John Gault
09-19-09, 23:28
Citibank started charging 2% fee around two years back. Before that, there was no fee for foreign transactions as long as you used their ATM. In fact, most credit cards started to tack on this charge either explicitly or implicitly (like AmEx).I use a ATM card from E Trade and as far as I know there is no fee's. I have two other ATM cards and when I use them there is always a fee. Also I get a better rate with E Trade.

Member #4258
09-20-09, 00:17
1% with BOA. better exchange rates and no transaction fee with the preferred account (minimum 100k balance.)I'm use BOA too but I don't have 100 grand in the account!

Member #4258
09-20-09, 00:23
The dollar is going to keep falling as long as Washington thinks that printing money is the way to get out of problems that are not going away.I looks like the COP (or the USD depending on how you look at it) finally found some resistance at 2000.

What a free fall.

Member #4258
09-20-09, 00:35
Citibank lets you take up to your daily limit of the card, I have withdrawn 1,000,000 in a single transaction.Which ATM in CTG can you withdrawl 1,000,000 per transaction?

Dvg Dog
09-20-09, 15:55
I use a ATM card from E Trade and as far as I know there is no fee's. I have two other ATM cards and when I use them there is always a fee. Also I get a better rate with E Trade.I believe E*Trade ATM cards have an 1% FOREX fee. That fee is buried in the exchange rate.

Dennisdejesus
10-10-09, 15:09
Just when im about to head to Medellin, the dollar starts to drop, Its already under 1900

damm!

Rick52
12-03-09, 00:55
Hey, I compared to taking cash down there and exchanging it in different places to taking money out of the ATM. To be honest I think ATM saves you money and get you more for your dollar. Only thing to watch out for is that every time you do something it charges you like $1. 5-$3 us dollars. When I checked how much money I had using the ATM it charged me $1. 50 and when I took out $700, 000 (citi bank's max per transaction) it charged me $3. 00 US. Plus when I changed US cash in exchange house they gave me a fake 50, 000. 00 pesos bill. Couldn't fool anyone to take it.

AddictedToWomen
01-08-10, 14:03
I need to get hold of some sterling/euros/ anything hard except dollars next week.

Anyone got any tips on the best way of doing this?

The Tall Man
01-10-10, 17:18
Here I am planning my first trip back to Bogota since November 1990 and whatca-know. The exchange is tanked.

Just going to have to be more cost conscience.

The Tall Man

The Tall Man
01-12-10, 05:31
I pulled the trigger today and will be flying into Bogota on Saturday January 23rd.

Can I use my Union Bank of California MasterCard debit card for ATM withdrawls?

I plan on bringing about $500.00 in cash with me. Any problems with exchanging it at a Colombian Bank? I need some pesos when I land in Bogota so should I exchange at the airport? How is the exchange rate?

Thanks in advance,

The Tall Man

AddictedToWomen
01-12-10, 12:37
I pulled the trigger today and will be flying into Bogota on Saturday January 23rd.

Can I use my Union Bank of California MasterCard debit card for ATM withdrawls?

I plan on bringing about $500.00 in cash with me. Any problems with exchanging it at a Colombian Bank? I need some pesos when I land in Bogota so should I exchange at the airport? How is the exchange rate?

Thanks in advance,

The Tall ManUpstairs at the airport you'll find a whole bunch of ATMs.

You'll get a better exchange rate there then changing cash.

John Gault
01-12-10, 16:37
I pulled the trigger today and will be flying into Bogota on Saturday January 23rd.

Can I use my Union Bank of California MasterCard debit card for ATM withdrawls?

I plan on bringing about $500.00 in cash with me. Any problems with exchanging it at a Colombian Bank? I need some pesos when I land in Bogota so should I exchange at the airport? How is the exchange rate?

Thanks in advance,

The Tall ManNever deal with airport money changers. They are terrible. Us the ATM at the airport.

I never travel with less than $1,000 cash. you never know when the ATM will have problems.

Beavis
01-12-10, 17:00
If you have the "PLUS" system on the card it will work fine and give you the best rate.

Neverenuff
01-14-10, 22:59
1st trip to Colombia this weekend. I'm pretty tight on schedule these few days and haven't had enough time to look through every post here. I guess I don't have enough time to get pesos from my bank here in the US. What is the best method to obtain pesos upon arrival in Cartagena? Should I bring dollars? Or should I use an ATM? Where?

Thanks in advance.

Client 9
01-15-10, 17:43
1st trip to Colombia this weekend. I'm pretty tight on schedule these few days and haven't had enough time to look through every post here. I guess I don't have enough time to get pesos from my bank here in the US. What is the best method to obtain pesos upon arrival in Cartagena? Should I bring dollars? Or should I use an ATM? Where?

Thanks in advance.Use an ATM in any upscale tourist area or mall, preferably during the daytime. Citibank has higher withdrawal limits than other banks. Don't count your money on the street, in a taxi or in front of a chica.

Have fun

Cream on Top
01-16-10, 10:02
Use an ATM in any upscale tourist area or mall, preferably during the daytime. Citibank has higher withdrawal limits than other banks. Don't count your money on the street, in a taxi or in front of a chica.

Have funTake an amount of your country money with you to Colombia (Dollars or Euro). I would say 500 upto 1000. You will always get a better exchange rate compared to what your bank will be offering you for the Peso. Though don't change with "touts" on the street! Use exchange boots (preferably). And not BANK! It will take you "hours of hassle" the exchange them in a bank. Also don't change all this money "at once". Unless you want to show off with a big "package" in your trousers. Yet. Know the negative consequences.

Bologna
01-17-10, 03:19
1st trip to Colombia this weekend. I'm pretty tight on schedule these few days and haven't had enough time to look through every post here. I guess I don't have enough time to get pesos from my bank here in the US. What is the best method to obtain pesos upon arrival in Cartagena? Should I bring dollars? Or should I use an ATM? Where?

Thanks in advance.Depends on where your staying to reccomend the closest or most convenient. If you are staying in Laguito there's an ATM in the Hilton Hotel. Walk in, go to the right and follow the hall past the shops. This machine has been a bit flaky stating out of order and the like, but give it a few tries regardless.

There is another ATM in the middle of Laguito next to the Ice Cream store ( beach side of street ). It's safe but I never liked using it much as you feel like everyone in the area knows you've just loaded up on cash. This one has the advantage of giving you more 10,000 notes as most other will only give out 2-3 and the rest in 20,000 notes.

The one I prefer is Bancolombia at Calle 5 and Avenida San Marteen. If the machine fails there are cashiers. Of the above 3 this one is it will give you 50,000 notes in the mix.

Hioctane
01-18-10, 00:58
I don't think you should bring so much cash to Colombia. Maybe 100-200 max as an emergency. You don't want to carry tons of cash in your pocket and the dinky safes in the hotels/apartments are not too safe. I've heard instances of them being broken into. There are tons of ATMs everywhere. Bring a couple of ATM cards just in case (remember to let your bank know you are traveling). Besides, the ATMs are quick and give better rates. If you change a bank, you need your passport and to wait on line. I believe there is also a change charge.

The Tall Man
01-18-10, 22:30
Thank you all for your information on bringing US dollars, ATM, banks and changing money. This is a big help as the last time I was in Bogota, Colombia was November 1990.

I am flying out his Saturday so I am looking forward to my trip!

The Tall Man

Rebel Monger
01-19-10, 11:38
As I see that the money exchanging situation in Colombia is not as easy as Costa Rica and the Dominican Republic, I was thinking about sending money through Western Union to myself before leaving for Medellin next month and get the money there in pesos. Do you guys think it would be a good idea? I don't feel comfortable drawing money in a foreign country with my debit card.

Arrecho
01-19-10, 23:37
As I see that the money exchanging situation in Colombia is not as easy as Costa Rica and the Dominican Republic, I was thinking about sending money through Western Union to myself before leaving for Medellin next month and get the money there in pesos. Do you guys think it would be a good idea? I don't feel comfortable drawing money in a foreign country with my debit card.Rebel,

Using your debit card really is safe, fast, and inexpensive. Much better than using western union in my opinion. I suggest using a ATM in one of the big shopping malls. I lived in Cali and bogota for a couple of years and never had a problem. Just be smart, do it during the day, and keep you wits about you. My bank charges a 1 % fee, but the also give the official exchange rate that is better than the deal Western Union will give you.

John Gault
01-20-10, 01:32
As I see that the money exchanging situation in Colombia is not as easy as Costa Rica and the Dominican Republic, I was thinking about sending money through Western Union to myself before leaving for Medellin next month and get the money there in pesos. Do you guys think it would be a good idea? I don't feel comfortable drawing money in a foreign country with my debit card.Western Union does not give a good exchange rate and it has charges as well. If you must send yourself money then do it next day, not money in minutes. This way you will save a few bucks.

As far as the ATM I think you should rethink it. I myself love the ATM in any country I have visited. The exchange rates are the best and I have never had a problem and if you are just a little cautious you will be OK. Use it in the daytime in better sections and don't flash the money after you get it from the machine. Maybe the best part is how easy it is since you have brought concerns about that. As stated in other posts make sure you let your bank know of your plans. I aways add a week or so in case you decide to stay longer.

Manizales911
01-20-10, 10:45
as i see that the money exchanging situation in colombia is not as easy as costa rica and the dominican republic, i was thinking about sending money through western union to myself before leaving for medellin next month and get the money there in pesos. do you guys think it would be a good idea? i don't feel comfortable drawing money in a foreign country with my debit card.western union is going to [CodeWord123] (http://isgprohibitedwords.info?CodeWord=CodeWord123) you on the exchange rate and fees. atm is the way to go, you will get the best rate. go during the day and if you have a trusted cab driver have him wait for you and get right back in the cab after withdrawal and go back to your hotel or apartment and put the cash in your safe. simple.

Rebel Monger
01-20-10, 19:57
Guys,

Thanks a lot. I'll go the ATM route.

Client 9
01-20-10, 23:03
As I see that the money exchanging situation in Colombia is not as easy as Costa Rica and the Dominican Republic, I was thinking about sending money through Western Union to myself before leaving for Medellin next month and get the money there in pesos. Do you guys think it would be a good idea? I don't feel comfortable drawing money in a foreign country with my debit card.Do not use Western Union.

Here is a safe method of using an ATM in Medellin. Take a taxi to Oviedo Mall to have lunch. After lunch, walk to Citibank nearby. The ATM there has a high withdrawal limit. The ATM is indoors, and there is armed security. Make sure nobody around you is using their cellphone. After withdrawing, do not take a taxi in front of the bank. Walk back to Oviedo Mall and take a taxi there so the driver does not know you have been to the bank. Do not count your money on the street, in the taxi or in front of a chica.

Have fun.

John Gault
03-10-10, 17:44
When I first hit Colombia in late Jan. It was very close to 2, 000 per $

This morning I just got 1, 894 per $, and that is with no ATM surcharge.

E-Trade does not charge a fee on top of the exchange rate.

The good news my room is already paid for the rest of the month, and here in MDE the girls are not as expensive as the rest of Colombia.

My own fault as a few years ago in March when I was here when the rate was 2, 600 per $ and I did not load up on peso's. At the time my gut told me with the way the USA was destroying money the dollar would have to fall.

SlamCity7777
03-11-10, 03:16
When I first hit Colombia in late Jan. It was very close to 2, 000 per $

This morning I just got 1, 894 per $, and that is with no ATM surcharge.

E-Trade does not charge a fee on top of the exchange rate.

The good news my room is already paid for the rest of the month, and here in MDE the girls are not as expensive as the rest of Colombia.

My own fault as a few years ago in March when I was here when the rate was 2, 600 per $ and I did not load up on peso's. At the time my gut told me with the way the USA was destroying money the dollar would have to fall.I hear ya! My first trip the rate was 2,300ish, then 5-7months later 1,900ish, and now we're in the 1,800ish? I hope that bumps back up in two months when I make my "Heroic" return!

Parcero
03-11-10, 15:02
Only use CitiBank!

There is a reason for that. If your bank charges you per transaction, at Citibank, you can pull out a million pesos per transaction, and if your bank had a per transaction fee, you just saved money.

And in case you have not read the hundreds of reports about changing money etc.

DON'T DO IT- you are a fool if you bring USA Dollars and then go and change them.

(unless you have a lot of cash money that was earned under the table), or you don't want to have a record on your bank account that you were in Colombia.

The atm here gives you straight money.

AddictedToWomen
03-11-10, 15:53
I hear ya! My first trip the rate was 2,300ish, then 5-7months later 1,900ish, and now we're in the 1,800ish? I hope that bumps back up in two months when I make my "Heroic" return!Bloomberg says no.

Speedyg50
03-11-10, 18:54
Some suggestions re withdrawals on your debit card (dc).

Do not bother with cc unless you like giving cc companies money for nothing.

For added security open up an internet banking account and link your dc with a savings account. Keep all or most of your money in the savings account. When you need to make a withdrawal, go on line to transfer the amount for withdrawal to your dc.

This process protects your money in case your dc is lost, stolen etc.

Never carry your cards with you except when you're taking some money out.

Keep them in your room safe. Use atms inside banks and put the money somewhere safe before you leave the bank. I will sometimes sit down in the bank for a few minutes, just to check nobody has been watching me. Take the money back to accommodation and put in safe, with card.

Lastly. Try not to look like a rich gringo taking out lots of money, (I know some of you guys are going to find that bit difficult)

SlamCity7777
03-12-10, 03:37
Bloomberg says no.Who is this Bloomberg guy? I'm gonna punch him right in the nose!

AddictedToWomen
03-12-10, 16:34
Who is this Bloomberg guy? I'm gonna punch him right in the nose!http://en.wikipedia.org/wiki/File:Michael_R_Bloomberg.jpg

Have at him.

Rebel Monger
03-13-10, 01:39
some suggestions re withdrawals on your debit card (dc).

do not bother with cc unless you like giving cc companies money for nothing.

for added security open up an internet banking account and link your dc with a savings account. keep all or most of your money in the savings account. when you need to make a withdrawal, go on line to transfer the amount for withdrawal to your dc.

this process protects your money in case your dc is lost, stolen etc.

never carry your cards with you except when you're taking some money out.

keep them in your room safe. use atms inside banks and put the money somewhere safe before you leave the bank. i will sometimes sit down in the bank for a few minutes, just to check nobody has been watching me. take the money back to accommodation and put in safe, with card.

lastly. try not to look like a rich gringo taking out lots of money, (i know some of you guys are going to find that bit difficult)before my trip i was in paranoia mode also but once there i found out that there was nothing to worry about it. to me, the hardest challenged was to figure out how to work the atm machines, even when i speak spanish, it was kind of confussing. i never felt unsafe there and i went to el centro around 6 pm. maybe i was lucky but i didn't see any scare people walking around.

SlamCity7777
03-13-10, 15:35
http://en.wikipedia.org/wiki/File:Michael_R_Bloomberg.jpg

Have at him.I saw him at Mangos with one of my fave prepagos!

Member #3435
03-13-10, 18:50
I saw him at Mangos with one of my fave prepagos!Yeah, all true. He and his wingman, Bill Clinton, frequent Cartagena too.

AddictedToWomen
03-16-10, 00:14
I saw him at Mangos with one of my fave prepagos!Bastard!

Is there no honor amongst Johns no more?

Dpilzbo
05-06-10, 05:53
And I am happy as a pig in shit! Two months out from that post and it is 2,000.70 right now. I don't know how long it will last but I will prepare for my next trip down here now! Hope you are watching Slamcity7777.

DP

Hioctane
05-06-10, 07:39
And I am happy as a pig in shit! Two months out from that post and it is 2,000.70 right now. I don't know how long it will last but I will prepare for my next trip down here now! Hope you are watching Slamcity7777.

DPAlready booked!

US economy is picking up. Bank earnings are way up this quarter. I think the dollar will start getting stronger. Just in time!

PaulGore
05-06-10, 12:45
And I am happy as a pig in shit! Two months out from that post and it is 2,000.70 right now. I don't know how long it will last but I will prepare for my next trip down here now! Hope you are watching Slamcity7777.

DPYa a year ago it was 2450.00 and five years ago it was in the mid 3s where you been.

SlamCity7777
05-07-10, 00:15
And I am happy as a pig in shit! Two months out from that post and it is 2,000.70 right now. I don't know how long it will last but I will prepare for my next trip down here now! Hope you are watching Slamcity7777.

DPWell actually no, I'm not too active on this topic...But that's good news the rate climbed back up to 2,000.70...with luck maybe we can push that number back up to 2,400ish when I get back there in Nov/Dec.

Hioctane
05-07-10, 04:21
Ya a year ago it was 2450.00 and five years ago it was in the mid 3s where you been.I think his point is that it's been under 2000 for practically this whole year. Generally, the dollar has been pretty weak for a while now.

Combo
05-08-10, 05:48
With all the panic in Europe, there's a flight to safety going on now and people are buying Dollars (and Gold even moreso).

The US Dollar will do will be the world is a mess.

LocoGringo
05-08-10, 19:27
I have lived/played/had a business/mostly played in Colombia for over 10 years. I have watched the peso from just under 2000 go to just over 3000 9only a short time) and then drop to just over 1600 to 2500 back to 1800 and now just over 2000. Lots of smart people look at the past and become experts , but only for the past. I believe that it will get better but if i knew something I would be able to make money. There is NO science to this, only self proclaimed experts, I am not one.

Aussie Greg
05-09-10, 13:18
Loco,

When I brought MM, I got 3,115 peso to the dollar, when I brought EC, I got 2,995 pesos to the dollar, not bad, when I sold I got 2,150 pesos to the dollar.

Aussie Greg.


I have lived/played/had a business/mostly played in Colombia for over 10 years. I have watched the peso from just under 2000 go to just over 3000 9only a short time) and then drop to just over 1600 to 2500 back to 1800 and now just over 2000. Lots of smart people look at the past and become experts , but only for the past. I believe that it will get better but if i knew something I would be able to make money. There is NO science to this, only self proclaimed experts, I am not one.

John Gault
05-12-10, 01:51
I just got a rate of 2009. 9 per dollar with my E-trade ATM card. It appears that they charge no fee's that I can C.

This goes along with a post I just made on the MDE board of my trying to cut costs this trip.

AddictedToWomen
05-14-10, 18:53
I just got a rate of 2009. 9 per dollar with my E-trade ATM card. It appears that they charge no fee's that I can C.

This goes along with a post I just made on the MDE board of my trying to cut costs this trip.They'll have been a spread but it looks tight:

http://www.advfn.com/p.php?pid=qkchart&symbol=FX^USDCOP

Historically I've got better than expected rates with citi too.

John Gault
07-20-10, 20:11
Just got from my ATM a rate of one dollar=1871 Peso.

OUCH!

LuckyEddie
08-06-10, 19:10
Just got from my ATM a rate of one dollar=1871 Peso.

OUCH!Just north of 1800 right now. The economies of both countries and especially the US (Chavez thing should blow over now that Santos is getting in) are heading in the directions they were before the crisis hit.

During that time, end of 2007 and into 2008, the trend saw the COP hit a high of 1600 to the USD, this in June 2008. The central bank of Colombia intervened heavily twice during that period but the task of a 3rd time was never to happen since the US was collapsing, hence the rest of the world and suddenly the dollar is stronger than other currencies. (Oct US Fed bails out 540billion, nov 800billion, freddie, fannie bail outs, Bear Sterns and Lehman fold, nationalization of AIG, credit market freeze, Goldman and Morgan Stanley go from IB to commercial, DOW down 35% and TARP)

If that is not reason enough for COP to get back to 2100-2200 I don't know what is. And it did.

Now things are getting back -slowly...

We may see 1500 by 3rd quarter 2011 unless the Col Central Bank pulls out some more tricks or synthetically pegs to the USD. JMHO

Arjay
08-11-10, 15:11
Anyone know the max cash you can withdraw from an ATM in Medellin?

At one time or per day?

Escort King
08-11-10, 18:31
Anyone know the max cash you can withdraw from an ATM in Medellin?

At one time or per day?Usually the max in USD your bank allows.

Arjay
08-12-10, 06:51
Usually the max in USD your bank allows.I won't be using a ATM card from USA bank. My Thailand bank allows me 200,000 baht/per day that than $6000 US. I want to know the maximum I can get from an ATM in Medellin?

Kdogg21
08-12-10, 23:16
I won't be using a ATM card from USA bank. My Thailand bank allows me 200,000 baht/per day that than $6000 US. I want to know the maximum I can get from an ATM in Medellin?Most ATMS will only let you take 400K a withdrawal, You can keep taking 400K withdrawals until you hit your daily limit or the machine runs out of money.

Citibank is the only one I know of that will let you take more out per withdrawal. the most I have taken is 1,000,000 pesos. Some times on weekends the machine does not have enough money and only gave me 800K or 700K, so it can depend on the machine too.

Hioctane
08-13-10, 05:12
Usually the max in USD your bank allows.Most ATM will only let you pull 350,000 - 500,000 at one time.. Citibank is the exception and will let you pull 700,000 - 1,000,000. You can pull out multiple times until you reach your daily bank limit.

John
08-13-10, 11:28
Most ATM will only let you pull 350,000 - 500,000 at one time.. Citibank is the exception and will let you pull 700,000 - 1,000,000. You can pull out multiple times until you reach your daily bank limit.I was able to pull upto 1.7million in one shot at citibank in Medellin as my daily limit was C$ 1,000 from my bank.

LuckyEddie
08-18-10, 21:20
I was able to pull upto 1.7million in one shot at citibank in Medellin as my daily limit was C$ 1,000 from my bank.That is correct.

Davivienda lets you do 720,000K in one shot and then repeat until you hit your daily limit at the foreign bank. The ATMS with the 300K-500K limits are just samller banks like Servibanca or BancoBogotá

Bancolombia doesn't like foreign ATM cards.

Arjay
08-19-10, 03:34
I was able to pull upto 1.7million in one shot at citibank in Medellin as my daily limit was C$ 1,000 from my bank.Thanks for the answer!

LocoGringo
10-06-10, 20:38
OK, for one of the 1st times in my 11 years here you can do better at the cambio than the ATM. 188-1820 per gringo dollar at numerous cambios in Medellin and Cartagena the last week, 1790-1805 at ATM and then some fee depending on the bank.

Of course they believe that the peso will fall, how can you be sure.

Travel Spirit
02-25-11, 17:02
you can do better at the cambio than the ATM

Numerous cambios in MedellinWhere can I find some credible cambios in MDE?

MiamiHeatLuver
02-26-11, 01:28
Where can I find some credible cambios in MDE?Try the casa de Cambio in Oviedo Mall. The guy gives a good rate and speaks English. It is in a very secure area as well. Next to El Coral.

VipMedellin
03-08-11, 18:53
The best house to get good rate on your dollar is UNICAMBIOS they are locted in Oviedo Mall and Santa Fe mall.


Try the casa de Cambio in Oviedo Mall. The guy gives a good rate and speaks English. It is in a very secure area as well. Next to El Coral.

Bolman
03-30-11, 19:02
Hello, fellows,

I will be moving to Colombia and visit the country for the first time,

Could anybody give me some advice for good places to exchange dollars to pesos?

I would appreciate a lot any help.

I will try to report once I am settled and get a chance to explore the city.

Greetings

Fla Fun
03-31-11, 01:48
Hello, fellows,

I will be moving to Colombia and visit the country for the first time,

Could anybody give me some advice for good places to exchange dollars to pesos?

GreetingsUsually I found that ATMs give a better exchange rate.

Also sometimes I watch the exchange rate (xe. Com) for a month or two before I go. When the dollar is strong, I use a money transfer to send a little money to myself. So I am the sender and the receiver. I lock in the exchange at a good rate. I use a moneytransfer service like (riafinancial. Com). Then I just pick up the cash when I get there. It also works a good back up.

I have no interest in either of those two companies.

MiamiHeatLuver
04-08-11, 15:06
Dollar really looking like shit all over Latin America. Going to suck for my wallet for this upcoming trip. . I remember just about a month ago we were over 1900.

http://www.bloomberg.com/markets/currencies/americas/

John Gault
04-08-11, 16:01
Dollar really looking like shit all over Latin America. Going to suck for my wallet for this upcoming trip. . I remember just about a month ago we were over 1900.

http://www.bloomberg.com/markets/currencies/americas/At the rate we are going it may come to pass the that USA may become a Mongering destination for the richer Euro and Asian countrys. Already they come in droves to our National Parks and places like Disney World. As times get tougher and tougher in the USA. No jobs, many women unmarried with children to support, etc. I think it is a strong possibilty in the future. A sad note indeed as the American Monger would be reduced to a level like the Native men we see in the Latin American countrys that we visit now.

In short if you can travel now then do it. Nothing lasts forever and much stronger regimes in the past have went by the wayside.

Sorry for the gloom and doom, but sometimes you have to tell it like it is.

Furysys
04-08-11, 18:24
Latin America is on sale for all us Canucks! One point to all canuck mongers, if you do go to that Oviedo Mall cambio (I have and it is very good service, just need your passport) , change your money in US$ before leaving Canada. Last time I was there, they were still giving more pesos for the US$, even though the C$ was above par. I wouldn't know the current rate they are giving, but one can bet it probably isn't as good as changing the money in Canada first.

Bbrocs
04-14-11, 18:06
Guys its really chump change but it's your money. Sometimes as you know the ATM's are better. But as of today this is not the case. XE has the peso at 1818 today. Which means at the ATM you will get hopefully 1810. 00.

But if you go to the Monteray exchange inside the monterray mall, the exchange today is giving 1870. 00, it's my opinion as well that this is th best exchange in Medellin. You don't need your passport just a drivers license. After they get to know you, you don't even need that. Yes the oveido mall is famous for their exchange, but I compare the two over and over and Monterray is better. But to make it worth it cabs cost to get there you need to exchange like 450 dollars or more. Otherwise the savings gets eaten by taking a cab there. My two cents. Someone posted if your spending 700 on airfare and 400 on a apartment, why would you care about losing 58 pesos on the dollar. But I'm cheap with myself and I care.

MiamiHeatLuver
04-15-11, 23:46
Now this really sucks balls! . WTF! It hasn't risen in days. The dollar slowly hemorrhaging to it demise.

http://www.bloomberg.com/markets/currencies/americas/

Alvaro 30
04-16-11, 03:09
Now this really sucks balls! . WTF! It hasn't risen in days. The dollar slowly hemorrhaging to it demise.

http://www.bloomberg.com/markets/currencies/americas/Euroservicios four blocks from estacion exposiciones CC Almacentro 1, 860 good!

Bango Cheito
04-17-11, 18:08
At the rate we are going it may come to pass the that USA may become a Mongering destination for the richer Euro and Asian countrys. Already they come in droves to our National Parks and places like Disney World. As times get tougher and tougher in the USA. No jobs, many women unmarried with children to support, etc. I think it is a strong possibilty in the future. A sad note indeed as the American Monger would be reduced to a level like the Native men we see in the Latin American countrys that we visit now.

In short if you can travel now then do it. Nothing lasts forever and much stronger regimes in the past have went by the wayside.

Sorry for the gloom and doom, but sometimes you have to tell it like it is. Those once-pathetic looking Colombian pesos I now earn are starting to look halfway decent.

I don't think you have to worry about AW EVER being in demand. Unless the food supply changes and they start getting in shape and taking care of themselves and maybe reading a book once in a blue.

Yujin
04-21-11, 20:13
Those once-pathetic looking Colombian pesos I now earn are starting to look halfway decent.The Colombian peso reached a high of 1, 780. 27 to the USA dollar in New York on Wendesday, its highest level since August 2008, Bloomberg reported.

Much of the peso's rise has been attributed to rising foreign investment in the oil and mining industries as well as companies repatriating profits from abroad in order to pay taxes. Companies are due to pay taxes in Colombian between April 8 and April 25 this year.

Foreign direct investment increased by $3. 23 billion in the year from March 2010, 86% of which went into oil and mining, according to trade balance figures from the central bank.

Portfolio inflows have also risen to $825 million between March 2010 and March 2011 compared to a net decrease of $21 million the year before, according to the central bank.

The currency has increased by 5. 1% so far this month making the peso currently one of the best performing world currencies tracked by Bloomberg.

Earlier this week, the head of Colombia's central bank announced that the country is on track to grow 5. 5% this year. 1% more than was originally forecast.

LuckyEddie
04-22-11, 17:02
The Colombian peso reached a high of 1, 780. 27 to the USA dollar in New York on Wendesday, its highest level since August 2008, Bloomberg reported.

Much of the peso's rise has been attributed to rising foreign investment in the oil and mining industries as well as companies repatriating profits from abroad in order to pay taxes. Companies are due to pay taxes in Colombian between April 8 and April 25 this year.

Foreign direct investment increased by $3. 23 billion in the year from March 2010, 86% of which went into oil and mining, according to trade balance figures from the central bank.

Portfolio inflows have also risen to $825 million between March 2010 and March 2011 compared to a net decrease of $21 million the year before, according to the central bank.

The currency has increased by 5. 1% so far this month making the peso currently one of the best performing world currencies tracked by Bloomberg.

Earlier this week, the head of Colombia's central bank announced that the country is on track to grow 5. 5% this year. 1% more than was originally forecast. Yes. Emerging markets such as Colombia could gain on the USD even if the USD stands still. There are two sides to every FX rate.

Before the US recession which also kicked off the rest of the world's economic crisis (because the US is the #1 consumer / client for every other country) and before the Fed Reserve's super turbo printing press really kicked in you had the COP at 1640 to the USD (June 2008).

As things start to level out in the world, over the next 2-3 years we may see the COP "below" the 1000 range. Remember for the first half of the 1990s (1996 firstyear the COP stayed above 1000 for the whole year) and back the COP was always under 1000 Per 1USD and the 2000 mark was hit for the first time EVER in end of April 2000 with 2001 being the FIRST year of COP over the 2000 mark.

I know a lot of guys on a fixed USD income who dove in and moved here in 2003-2006 when the COP was in the 2400-2900 range, not thinking about inevitable currency fluctuations. Especailly with the overall voliitility of not only the economy of a 3rd world country such as Colombia. But the whole country. Safety, government, wars, and such.

Coming for a vaction? Not a problem. Coming to live? You need to factor in major swings. The days of stability like between USD and GBP before the EUR are not something you will see for a very long time between a stumbling world power and an emerging banana republic.

Hioctane
04-22-11, 18:21
Guys its really chump change but it's your money. Sometimes as you know the ATM's are better. But as of today this is not the case. XE has the peso at 1818 today. Which means at the ATM you will get hopefully 1810. 00.

But if you go to the Monteray exchange inside the monterray mall, the exchange today is giving 1870. 00, it's my opinion as well that this is th best exchange in Medellin. You don't need your passport just a drivers license. After they get to know you, you don't even need that. Yes the oveido mall is famous for their exchange, but I compare the two over and over and Monterray is better. But to make it worth it cabs cost to get there you need to exchange like 450 dollars or more. Otherwise the savings gets eaten by taking a cab there. My two cents. Someone posted if your spending 700 on airfare and 400 on a apartment, why would you care about losing 58 pesos on the dollar. But I'm cheap with myself and I care.Don't cambios charge an exchange fee? I find a no transaction / no foreign exchange fee debit card the cheapest.

AddictedToWomen
04-25-11, 02:11
Don't cambios charge an exchange fee? I find a no transaction / no foreign exchange fee debit card the cheapest.Not always. Sometimes it's embedded into the fx rate. Roundtrip margins of 10% seem common.

Bango Cheito
05-06-11, 07:14
To answer this and the Euros talking about it in the Photo Gallery:

Colombia gets a LOT of foreign money coming in from selling the fine white powder. This puts Colombia in a unique position. There's a whole lot of foreign hard cash in this country that needs to be dumped. You can LEGALLY buy dollars and Euros at real good rates here for that reason. It used to be even better, the margin seems to have shrunk in the past several years.

I recommend people from N. America and Europe to just use the ATMS and take cash out. This seems to be consistently the best deal in general. It's usually not a good deal to bring USD and Euros here because of what I mentioned above. Hope this helps.

LittleTruths
05-06-11, 13:46
To answer this and the Euros talking about it in the Photo Gallery:

Colombia gets a LOT of foreign money coming in from selling the fine white powder. This puts Colombia in a unique position. There's a whole lot of foreign hard cash in this country that needs to be dumped. You can LEGALLY buy dollars and Euros at real good rates here for that reason. It used to be even better, the margin seems to have shrunk in the past several years.

I recommend people from N. America and Europe to just use the ATMS and take cash out. This seems to be consistently the best deal in general. It's usually not a good deal to bring USD and Euros here because of what I mentioned above. Hope this helps. Thanks for re-directing this subject to its proper thread where it belongs and thanks again for the tip provided.

There is people tho, that have no simpathy for credit / debit cards nor for atms, and I happen to be one such individual. So I'm not going to be able to make any use of that.

Generally speaking tho, legal or illegal, they like the USD better.

Bless

SlamCity7777
05-06-11, 14:39
Thanks for re-directing this subject to its proper thread where it belongs and thanks again for the tip provided.

There is people tho, that have no simpathy for credit / debit cards nor for atms, and I happen to be one such individual. So I'm not going to be able to make any use of that.

Generally speaking tho, legal or illegal, they like the USD better.

BlessI have a friend who hates to use his ATM / CC too so I can see (don't understand) where your're coming from.

Euro or USD it's all good. Just don't use Travelers Checks I was at the Casa de Cambio over at Olviedo Mall a few days ago and I believe Travelers Checks were trading at 160, 000 +-, while UDS was still up $180, 000 +, did not check out the Euro rates or shop around to find a better price. I'm an ATM guy.

Good Luck and report back

LuckyEddie
05-06-11, 23:06
To answer this and the Euros talking about it in the Photo Gallery:

Colombia gets a LOT of foreign money coming in from selling the fine white powder. This puts Colombia in a unique position. There's a whole lot of foreign hard cash in this country that needs to be dumped. You can LEGALLY buy dollars and Euros at real good rates here for that reason. It used to be even better, the margin seems to have shrunk in the past several years.

I recommend people from N. America and Europe to just use the ATMS and take cash out. This seems to be consistently the best deal in general. It's usually not a good deal to bring USD and Euros here because of what I mentioned above. Hope this helps.For some reason people seem to think the opposite and haul down USD and get raked. Colombia is dying to get rid of USD and EUR ALWAYS.

If you live here in Colombia and are taking a trip to the US you can make a quick 5-10% if you go to the ATM in COL, take out COP from your US account, go to a casa de cambio and buy USD cheap, fly to the US deposit in your US acct and on return after your trip take it out again from the ATM.

I always buy USD from COP ATM withdrawls just before taking a trip to the US

LittleTruths
05-07-11, 13:11
I have a friend who hates to use his ATM / CC too so I can see (don't understand) where your're coming from.

Euro or USD it's all good. Just don't use Travelers Checks I was at the Casa de Cambio over at Olviedo Mall a few days ago and I believe Travelers Checks were trading at 160, 000 +, while UDS was still up $180, 000 +, did not check out the Euro rates or shop around to find a better price. I'm an ATM guy.

Good Luck and report backSorry but no, it isn't the same thing and it's not just as good either way.

I've been changing about 300 € a day and consistently got suckered of about $ 100. 000 COP on each and every change. Received about 690. 000 instead of the 790. 000 that I should have gotten.

The rate they give for USD is pretty fair, can't say the same thing though when it comes to EURO, so please do not divulgate inaccurate informations.

They just pay better rates for USD.

So yeah, it seems crystal clear that the best way to go is ATM, but if that's not an option in anyone's book for whatever reason, then USD over EURO. That is, if you don't mind burning perfectly good money anyways.

Bless

Sailor Jim
05-07-11, 17:11
Best bet is the ATM in a higher end mall, not one on the street. Take out the most you can maybe use multiple cards if youe have them and stash the money in different pockets, socks whatever and take a cab back to your room. Better than making daily trips to the ATM and taking multiple risks. JMHO. Alot of restaurants and stores take crefit cards so you can limit your cash on you. Just remember to bring your passport if you pay by credit card. Some crefdit card banks might charge a 1% international transaction fee. Capital One does not.

MiamiHeatLuver
05-07-11, 19:48
Best bet is the ATM in a higher end mall, not one on the street. Take out the most you can maybe use multiple cards if youe have them and stash the money in different pockets, socks whatever and take a cab back to your room. Better than making daily trips to the ATM and taking multiple risks. JMHO. Alot of restaurants and stores take crefit cards so you can limit your cash on you. Just remember to bring your passport if you pay by credit card. Some crefdit card banks might charge a 1% international transaction fee. Capital One does not.don't bring your passport anywhere in Colombia once you store it in the safe, all places will accept your driver license and even a color copy of your passport. If your passport ever got lost or stolen I can't think of a bigger nightmare.

Bango Cheito
05-07-11, 20:01
I find that POS transactions tend to give you a shitty rate and avoid them for that reason, not to mention the risk of having your card cloned.

Also I would recommend NOT using the ATMS close to the money changing places in Santa Barbara in Bogota as I DID get a fake 20k note from them once. Using the machine in a mall or Carrefour or something is a good bet.

I do the same as LuckyEddie except for I tend not to have money sitting in my US bank account as I make mostly pesos now. But I always change every last peso I have on me to USD and fly up with cash and deposit it, then when I get back I take it back out via the ATM instead of trying to change it back.

Viajero
05-07-11, 20:25
Let me comment here about passport. You will need it in Colombia. Banks, cashiers, even the Police if they ask you for it, you better have the original passport and not a copy. Sorry Miamiheatluver, I am talking from experience.

MiamiHeatLuver
05-07-11, 21:41
Let me comment here about passport. You will need it in Colombia. Banks, cashiers, even the Police if they ask you for it, you better have the original passport and not a copy. Sorry Miamiheatluver, I am talking from experience.Well I have never had the need to do any official business INSIDE an actual bank in Colombia so I can't speak from experience there. I have been to Bogota, Cali and Medellin many many times, I have been pulled over during road stops and random street friskings. I have eaten in various places in all 3 cities, I have shopped in all the mall and been grocery shopping in all the major chains. I have ALWAYS used either my driver's license and / or LASER COPY of my passport. The Police looked at it and give it back to me right away. Besides any "official" business where an official government issued I'd would come into play, I don't see any reason to carry around your passport. Oh and yes I speak from just a little bit of first hand experience as well. LOL

Karkills
05-08-11, 01:40
Well I have never had the need to do any official business INSIDE an actual bank in Colombia so I can't speak from experience there. I have been to Bogota, Cali and Medellin many many times, I have been pulled over during road stops and random street friskings. I have eaten in various places in all 3 cities, I have shopped in all the mall and been grocery shopping in all the major chains. I have ALWAYS used either my driver's license and / or LASER COPY of my passport. The Police looked at it and give it back to me right away. Besides any "official" business where an official government issued I'd would come into play, I don't see any reason to carry around your passport. Oh and yes I speak from just a little bit of first hand experience as well. LOLExactly, Passport is not needed in the streets in Colombia anywhere except Airports, DAS and Notaries. I am staying in Cali for last three years with occasional trips to other cities and I always carry my Alien Card and copies of my passport.

ATM is very good to withdraw cash as they have only Cross Currency Markup Fee of 3% max of the exchange rate.

Visa, Mastercard now offers TravelMoney / Prepaid Cards which can be loaded before you travel. You can withdraw in any Local Currency in any country. I find this cheaper than using Credit Cards or Debit Cards.

Some bank ATMs have withdrawal fee of 2 dollars per transaction. They waive this for preferential customers.

As an example, I withdrew 300, 000 Pesos for $175 when the InterBank Rate is 1768 COP / USD. This has $5. 5 as txn charge with the same rates as Inter Bank rates.

Even with the mark up fee applied, the applied rate is higher than the USD Cash conversion rate or USD TC conversion rate. I prefer ATM transactions very much than the Cash and TCs.

Kukulkan
05-09-11, 05:04
Hi Guy's, This year I start trying WWW.ALLY.COM,

You can take up to $500. 00 a day from the ATM, and charge up to $2500. 00 in the same card, The charge from the atm. 3 to 5 Bucks will be give back to you at the end of the rolling Month, and they charge only 1 % from cash thaking abroad,

Just my two cents.

Kukulkan


Exactly, Passport is not needed in the streets in Colombia anywhere except Airports, DAS and Notaries. I am staying in Cali for last three years with occasional trips to other cities and I always carry my Alien Card and copies of my passport.

ATM is very good to withdraw cash as they have only Cross Currency Markup Fee of 3% max of the exchange rate.

Visa, Mastercard now offers TravelMoney / Prepaid Cards which can be loaded before you travel. You can withdraw in any Local Currency in any country. I find this cheaper than using Credit Cards or Debit Cards.

Some bank ATMs have withdrawal fee of 2 dollars per transaction. They waive this for preferential customers.

As an example, I withdrew 300, 000 Pesos for $175 when the InterBank Rate is 1768 COP / USD. This has $5. 5 as txn charge with the same rates as Inter Bank rates.

Even with the mark up fee applied, the applied rate is higher than the USD Cash conversion rate or USD TC conversion rate. I prefer ATM transactions very much than the Cash and TCs.

Kickboxer151
05-14-11, 15:07
Hey guys,

I have not written a while here. BUT we (Wife and My US Buddies) all use PayPal cards! There is NO fee!

KB151

MiamiHeatLuver
05-14-11, 18:56
Hey guys,

I have not written a while here. BUT we (Wife and My US Buddies) all use PayPal cards! There is NO fee!

KB151This has been discussed many times before KB, Paypal charges $1 per transaction lets you only take out $400usd worth of pesos per day which with a shitty dollar is like 700k cop and the exchange rate given is SUB PAR. You know a company like PAYPAL isn't going to loose not even a penny NOR ever come out on the short end.

Artisttyp
05-14-11, 21:33
This has been discussed many times before KB, Paypal charges $1 per transaction lets you only take out $400usd worth of pesos per day which with a shitty dollar is like 700k cop and the exchange rate given is SUB PAR. You know a company like PAYPAL isn't going to loose not even a penny NOR ever come out on the short end.Paypal in general is a total scam. If you ever become a seller on ebay you will quickly understand. The whole banking system is set up to seperate you from your money. Everytime I walk into chase bank for travel money I am bombarded by overly agressive sales clerks wanting me to open new accounts. Last year I paid $15 in banking fees and it will stay like that.

Colombia is a debit card only place. Don't wear yourself out trying to figure out another way.

Accessing your personal funds is like vagina. Everybody wants some.

El Bombero
05-18-11, 04:45
PayPal really sucks. In November 2007 I put my trip budget into my PayPal account because it had a cheaper ATM fee-the same way I did the trip before. But the first ATM I used when I landed in MDE wouldn't dispense me cash. Niether did the second, the third, none of them. So I exchanged the couple hundred I had on me and waited til the next day to call PayPal. The next day they told me that their international ATM system was down (whatever that means). When will it be back online? Dunno. How can I access my account? Dunno. Can I transfer it back to my checking? Yes but it will take four working days (this was a Thursday). Basically, they told me I was schit out of luck. So now I'm screwed because I didn't anticipate this. My checking / debit didn't have much cash in it and my savings is with a different institution and I don't carry all my cards with me on vacation. So that left the only alternative which was to cash advance off a credit card. Luckily I called a friend who was cool enough to deposit money into my debit account so I didn't have to advance. Turns out that the PayPal system didn't work until I landed in Los Angeles after the trip was over. Then, to add insult to injury, when I transferred the money out of the PayPal account back to my checking account, they charged me the transfer fee! When I called to object, I finally got transferred to a supervisor that said he would refund me the fee. But they never did. So phuck PayPal. I wish I didn't have to use it to buy things on eBay.

Ever since then I just use my checking / debit card and consider the higher ATM fee the cost of vacationing. At least my debit card doesn't fail. Oh yeah. And I always carry a back-up account card with me in case there's a problem. Because that really sucked.

Hioctane
05-18-11, 19:28
PayPal really sucks. In November 2007 I put my trip budget into my PayPal account because it had a cheaper ATM fee-the same way I did the trip before. But the first ATM I used when I landed in MDE wouldn't dispense me cash. Niether did the second, the third, none of them. So I exchanged the couple hundred I had on me and waited til the next day to call PayPal. The next day they told me that their international ATM system was down (whatever that means). When will it be back online? Dunno. How can I access my account? Dunno. Can I transfer it back to my checking? Yes but it will take four working days (this was a Thursday). Basically, they told me I was schit out of luck. So now I'm screwed because I didn't anticipate this. My checking / debit didn't have much cash in it and my savings is with a different institution and I don't carry all my cards with me on vacation. So that left the only alternative which was to cash advance off a credit card. Luckily I called a friend who was cool enough to deposit money into my debit account so I didn't have to advance. Turns out that the PayPal system didn't work until I landed in Los Angeles after the trip was over. Then, to add insult to injury, when I transferred the money out of the PayPal account back to my checking account, they charged me the transfer fee! When I called to object, I finally got transferred to a supervisor that said he would refund me the fee. But they never did. So phuck PayPal. I wish I didn't have to use it to buy things on eBay.

Ever since then I just use my checking / debit card and consider the higher ATM fee the cost of vacationing. At least my debit card doesn't fail. Oh yeah. And I always carry a back-up account card with me in case there's a problem. Because that really sucked.Yeah. Always keep a backup card. Also keep in mind, Banc Colombia doesn't like international ATM cards.

Sailor Jim
05-18-11, 20:37
PayPal really sucks. In November 2007 I put my trip budget into my PayPal account because it had a cheaper ATM fee-the same way I did the trip before. But the first ATM I used when I landed in MDE wouldn't dispense me cash. Niether did the second, the third, none of them. So I exchanged the couple hundred I had on me and waited til the next day to call PayPal. The next day they told me that their international ATM system was down (whatever that means). When will it be back online? Dunno. How can I access my account? Dunno. Can I transfer it back to my checking? Yes but it will take four working days (this was a Thursday). Basically, they told me I was schit out of luck. So now I'm screwed because I didn't anticipate this. My checking / debit didn't have much cash in it and my savings is with a different institution and I don't carry all my cards with me on vacation. So that left the only alternative which was to cash advance off a credit card. Luckily I called a friend who was cool enough to deposit money into my debit account so I didn't have to advance. Turns out that the PayPal system didn't work until I landed in Los Angeles after the trip was over. Then, to add insult to injury, when I transferred the money out of the PayPal account back to my checking account, they charged me the transfer fee! When I called to object, I finally got transferred to a supervisor that said he would refund me the fee. But they never did. So phuck PayPal. I wish I didn't have to use it to buy things on eBay.

Ever since then I just use my checking / debit card and consider the higher ATM fee the cost of vacationing. At least my debit card doesn't fail. Oh yeah. And I always carry a back-up account card with me in case there's a problem. Because that really sucked. Paypal is the worst. They do everything they can to charge as much as they can. I only have it for certain eBay purchases. But every time I call them about anything the person on the phone has no clue about anything. My guess is pretty soon they will get slapped with extra regulatoin just like the Credtcard banks did a year or two ago.

I would use a regular ATM card for money and Capital One Credit card for charges (no international fees and the real rate).

El Bombero
05-20-11, 04:20
Thanks for the Capital One tip Sailor Jim. I didn't know that.

SlamCity7777
05-21-11, 05:23
Thanks for the Capital One tip Sailor Jim. I didn't know that.Yeah but doesn't Cap One generally have like a 20+% interest rate?

MiamiHeatLuver
05-29-11, 15:53
Every single time I think we're in for a nice upward swing? The dollar takes a major shit again. We got close to 1850 but that quickly went down to around 1800, no consistency whatsoever. That coupled with $800 flights to Colombia? Going to really have to budget this next trip. Less p4p and more non-pros. Well that's been my trend anyways these past years.

http://www.bloomberg.com/markets/currencies/americas/

LuckyEddie
05-29-11, 17:59
Yeah but doesn't Cap One generally have like a 20+% interest rate?I too have a Cap1. Mastercard. No foreign fees and and the rate is 13. 5. Rates vary at these banks depending on YOU.

Tristancho G
05-30-11, 16:20
Leaving in three weeks for Cali. I am keeping an eye on exchange rates here to see how they are going, and not looking as good as three years ago. If you have the passport card to go to Mexico and Canada, they accept that also. Just not for DAS or other official issues. But, businesses have accepted it as an official form of I'd. I have even used it as an I'd for tender exchange also. God it sucks watching the $ fall and barely rise out of its grave.

Sailor Jim
06-03-11, 23:51
Leaving in three weeks for Cali. I am keeping an eye on exchange rates here to see how they are going, and not looking as good as three years ago. If you have the passport card to go to Mexico and Canada, they accept that also. Just not for DAS or other official issues. But, businesses have accepted it as an official form of I'd. I have even used it as an I'd for tender exchange also. God it sucks watching the $ fall and barely rise out of its grave.The USD will drop to 1600 in about 3 weeks. How do I know that? Because I'm going to Colombia in 3 weeks and for some strange reason every time I go the dollar does a swan dive.

Chesscat
06-04-11, 10:45
Before going I checked out the exchange rate online at Intercambios, and it wasn't good at all, compared to the current exchange rate posted at Bloomberg or the IMF site. Maybe Intercambios isn't updated daily, though it says it is. Anyway, I needed to exchange a bunch of money on arrival to pay for an apartment. I noticed the airport casa de cambio as I went through the airport, and the rate was not bad. 1,820 I believe. So I got it done quickly and conveniently. Other than that, I just use the ATM.

Bango Cheito
06-04-11, 19:28
1783 as of close of day yesterday and I'm going right now to change money!

Bango Cheito
06-04-11, 23:30
1783 as of close of day yesterday and I'm going right now to change money!Fuckkk. It's between 1850 and 1870 everywhere here. You guys up there need to buy more cocaine :P

SpiderRider
06-06-11, 23:58
Sure it will show signs of life along the way. But you better get into alternatives pronto or your partying days will OVER. And possibly you plenty to eat days as well. Tons of valid data, analysis, & commentary out there. For example: pricedingold. Com

SpiderRider
06-07-11, 00:15
Sure it will show signs of life along the way. But you better get into alternatives pronto or your partying days will OVER. And possibly you plenty to eat days as well. Tons of valid data, analysis, & commentary out there. For example: pricedingold. ComThis will usher in budget hobby sex in the US, for those who can protect their wealth. Poorly educated (horrible US schools) 18-20 year old girls will respond to poverty the same as anywhere else, in time.

John Gault
06-07-11, 00:36
This will usher in budget hobby sex in the US, for those who can protect their wealth. Poorly educated (horrible US schools) 18-20 year old girls will respond to poverty the same as anywhere else, in time.I agree with the soon to be need of American women to join the oldest profession. Big problem is it will never be legal in the USA. In my city they have all kinds of undercover stings to catch the Johns. Bad enough you have to be arrested, but they also put your name in the paper as part of the big bust they did.

My tax payer dollars at work. Any way the Gringa, Bleeding heart liberal controlled USA can make men's life miserable they will do.

Bango Cheito
06-07-11, 06:43
I agree with the soon to be need of American women to join the oldest profession. Big problem is it will never be legal in the USA. In my city they have all kinds of undercover stings to catch the Johns. Bad enough you have to be arrested, but they also put your name in the paper as part of the big bust they did.

My tax payer dollars at work. Any way the Gringa, Bleeding heart liberal controlled USA can make men's life miserable they will do. Not only that, women in the USA don't exactly inspire sex :P :P

Catire
06-07-11, 12:53
I agree with the soon to be need of American women to join the oldest profession. Big problem is it will never be legal in the USA. In my city they have all kinds of undercover stings to catch the Johns. Bad enough you have to be arrested, but they also put your name in the paper as part of the big bust they did.

My tax payer dollars at work. Any way the Gringa, Bleeding heart liberal controlled USA can make men's life miserable they will do. There's no difference in attitudes towards sex between the liberals and the conservatives. Both are publicly hostile towards it. In fact, I'd dare say the lunatic social conservatives that control the Republican Party would like to regulate your behavior in the bedroom, much less outside of it.

SpiderRider
06-07-11, 14:20
I agree with the soon to be need of American women to join the oldest profession. Big problem is it will never be legal in the USA. In my city they have all kinds of undercover stings to catch the Johns. Bad enough you have to be arrested, but they also put your name in the paper as part of the big bust they did.

My tax payer dollars at work. Any way the Gringa, Bleeding heart liberal controlled USA can make men's life miserable they will do. They will not have the resources to engage in such non-sense as prostitution stings, any more than a municipality in Colombia, Ecuador, etc do. Its just not in the budget. These types of stings are the product of overpaid bureaucrats with nothing to do but spend more time justifying their existence in the system. They will no longer be employed. Thus will be harmless.

These changes in attitudes & behaviors will occur in the newer generations as they will only know economic strife. The older ones will cling to their puritanical hostility towards sex. But who cares about them.

John Gault
06-07-11, 16:22
Johnny Jump Up,

Has your name made the paper since you are the biggest trick in the world? Not in the paper, but in the post office.

John Gault
06-07-11, 16:23
There's no difference in attitudes towards sex between the liberals and the conservatives. Both are publicly hostile towards it. In fact, I'd dare say the lunatic social conservatives that control the Republican Party would like to regulate your behavior in the bedroom, much less outside of it.True, how could I forget the hard core right wingers.

Living Legend
07-07-11, 04:32
In Colombia the last week of June. June 25 had a connection in Bogota going to Cali, exchange rate at Bogota airport was 1800, arrived at Cali airport and it was 1821, changed some money but ended up needing to use the ATM, I have Chase bank, chase gave me an exchange rate at 1775.

Leaving Colombia on July 5 the exchange rate at Cali airport was 1771. I got 1718 from Chase withdrawing from the ATM.

Last two trips the airport has offered better exchange rates than my bank.

Just an FYI.

MiamiHeatLuver
07-14-11, 03:17
But I'm wondering the experts are saying that the $ will tank even MORE if we don't raise the debt ceiling and the USA defaults on its debts. I was wondering if I should stock up on some pesos 5k-10k USD before Aug 2, 2011. Because I couldn't afford an exchange rate of 1300-1400. Anybody have some good advice theories?

Member #4394
07-14-11, 03:50
Only thing I can say is that do not trust anybody / any article predicting exchange rates. It is impossible to predict if one currency will decline against another in FOREX market. That's why some "professionals" lose money and others make money in FOREX, which is influenced by inflation differentials, interest rate differentials, budget deficit, trade balance, wars, and others. But buying pesos now may not be a bad idea if you are risk-averse. Benefit of buying peso is that it will protect your "current" purchase power from potential further decline of $ against peso. The cost is that if the dollar gets stronger (which may not happen) , you cannot take advantage of it. So your plan will "definitely" prevent a financial loss at the expense of inability to take advantage of "potential" (that is, it may not happen) good luck. In short, it will not get worse while you cannot take advantage of the situation if and "only if" it is getting better. If the prevention of losing money is more important than a chance of gaining money, buy pesos now. Sorry, I cannot give you a definit answer you should buy peso now or not. But, again, do not trust any recommendations from any market gurus about FOREX.


But I'm wondering the experts are saying that the $ will tank even MORE if we don't raise the debt ceiling and the USA defaults on its debts. I was wondering if I should stock up on some pesos 5k-10k USD before Aug 2, 2011. Because I couldn't afford an exchange rate of 1300-1400. Anybody have some good advice theories?

John Gault
07-14-11, 04:27
But I'm wondering the experts are saying that the $ will tank even MORE if we don't raise the debt ceiling and the USA defaults on its debts. I was wondering if I should stock up on some pesos 5k-10k USD before Aug 2, 2011. Because I couldn't afford an exchange rate of 1300-1400. Anybody have some good advice theories?One thing I would bet a lot of money on is that the USA will not default. Every budget they pull the same crap, and then the last minute they pass it.

Yes the dollar is super weak now, but the Euro is also dropping. All in all the USA is hurting, but so is most of the rest of the world.

At 1300 to 1400 I would skip Colombia. Last I looked the DR's rate was around 37 pesos for a buck. That is not bad at all.

Bango Cheito
07-14-11, 22:42
Right now ironically you can bring USD down and get a better exchange rate at local places. The tables have turned for the time being. It's still at 1800 and change. There's a money changing place about 3 blocks from me so I'll check it out in a couple of weeks, I dunno if it's because of the dollar falling and them holding currency they bought at a worse rate or if this is a new trend. Could it really be that the gringos no longer are buying cocaine in quantity anymore? O_o

Bango Cheito
07-14-11, 22:47
As for the default I don't think it's IF I think it's WHEN.

Karkills
07-22-11, 04:41
Peso scaled to a three year high last week on Jul 17.

Last time it was 1748 in May 2008. It bounced to 2550 in 9 months. Mar 2009.

It almost bounced to around 2000 during November. 2010 after being around 1800 in sep. 2010. But it fell more.

Should start rising again.

After looking at the charts, the drops are gradual and the rises are rapid.

Currently as a pattern, the month ends / month beginning has a little rise than the other days in the month.

Bango Cheito
07-22-11, 07:55
Peso scaled to a three year high last week on Jul 17.

Last time it was 1748 in May 2008. It bounced to 2550 in 9 months. Mar 2009.

It almost bounced to around 2000 during November. 2010 after being around 1800 in sep. 2010. But it fell more.

Should start rising again.

After looking at the charts, the drops are gradual and the rises are rapid.

Currently as a pattern, the month ends / month beginning has a little rise than the other days in the month.In 2001 it hit an all time low of almost 3000 to the dollar. Since then it has steadily been going the other way, with a few blips along the way.

Eventually it will hit 1500 then 1000 again.

Maverick77
07-22-11, 23:07
In Colombia the last week of June. June 25 had a connection in Bogota going to Cali, exchange rate at Bogota airport was 1800, arrived at Cali airport and it was 1821, changed some money but ended up needing to use the ATM, I have Chase bank, chase gave me an exchange rate at 1775.

Leaving Colombia on July 5 the exchange rate at Cali airport was 1771. I got 1718 from Chase withdrawing from the ATM.

Last two trips the airport has offered better exchange rates than my bank.

Just an FYI.If you've never used your Chase ATM overseas, you are in for a surprise when your statement arrives.

$5 + 3%

Manizales911
07-23-11, 01:44
If you've never used your Chase ATM overseas, you are in for a surprise when your statement arrives.

$5 + 3%I have used a Smith Barney card for years internationally and they only charged 1% and all ATM fees were reimbursed, now they charge 2% so on my upcoming trip to Manizales I will bring cash and go to a cambio.

Member #4394
07-23-11, 02:05
Lately Amex card representative told me that they would not charge oversea transaction fee on my purchases and withdrawals. I, being a eternal pessimist, am wondering if they apply unfavorable exchange rate instead, which is less visible.


If you've never used your Chase ATM overseas, you are in for a surprise when your statement arrives.

$5 + 3%

Manizales911
07-23-11, 02:54
Lately Amex card representative told me that they would not charge oversea transaction fee on my purchases and withdrawals. I, being a eternal pessimist, am wondering if they apply unfavorable exchange rate instead, which is less visible.That is exactly what they are going to do, there is no free lunch in this world.

I have three different cards with three different foreign exchange fee rates and the ones with the lower fees give the worst exchange rate. You have to take both factors into consideration before deciding which card nets out to be the best.

Member #4394
07-23-11, 14:43
Thanks. I think many people should be aware of this trick. I suspect that in general no fees with higher (unfavorable) exchange rate ends up mostly costly.


That is exactly what they are going to do, there is no free lunch in this world.

I have three different cards with three different foreign exchange fee rates and the ones with the lower fees give the worst exchange rate. You have to take both factors into consideration before deciding which card nets out to be the best.

MiamiHeatLuver
07-23-11, 17:39
That is exactly what they are going to do, there is no free lunch in this world.

I have three different cards with three different foreign exchange fee rates and the ones with the lower fees give the worst exchange rate. You have to take both factors into consideration before deciding which card nets out to be the best.Manizales is 100% correct, some people brag about how they have no fees (capital one) or $1 pay pal fees, the trick is that those places give by far the shitiest rates. The one card that I always use that is NO FEE and Very good rates seem to be the Brokerage cards. Ea Alloy, Fidelity, Scott Trade, Schwab. I have a Fidelity card and it always check when I get home what its exchanging at. Its always spot on with the current exchange or even more. Another I heard was a CitiGold account which is completely free at Citibanks but you need a minimum balance which is very high like 25k? I think it was. Another route is I heard the casas de cambio are paying very well lately. Almost 1800. I think they are betting on a $ surge. I think we all are. LOL

Bango Cheito
07-23-11, 21:31
Manizales is 100% correct, some people brag about how they have no fees (capital one) or $1 pay pal fees, the trick is that those places give by far the shitiest rates. The one card that I always use that is NO FEE and Very good rates seem to be the Brokerage cards. Ea Alloy, Fidelity, Scott Trade, Schwab. I have a Fidelity card and it always check when I get home what its exchanging at. Its always spot on with the current exchange or even more. Another I heard was a CitiGold account which is completely free at Citibanks but you need a minimum balance which is very high like 25k? I think it was. Another route is I heard the casas de cambio are paying very well lately. Almost 1800. I think they are betting on a $ surge. I think we all are. LOLI think it's probably more likely that they buy their foreign currency beforehand and are behind the market some becuase of that.

Dollar's not going anywhere, folks. Wait till that first default happens.

Hioctane
07-26-11, 07:28
Manizales is 100% correct, some people brag about how they have no fees (capital one) or $1 pay pal fees, the trick is that those places give by far the shitiest rates. The one card that I always use that is NO FEE and Very good rates seem to be the Brokerage cards. Ea Alloy, Fidelity, Scott Trade, Schwab. I have a Fidelity card and it always check when I get home what its exchanging at. Its always spot on with the current exchange or even more. Another I heard was a CitiGold account which is completely free at Citibanks but you need a minimum balance which is very high like 25k? I think it was. Another route is I heard the casas de cambio are paying very well lately. Almost 1800. I think they are betting on a $ surge. I think we all are. LOLI've used Capital One. No % fees but $1. 50 per transaction. Their rates were comparable to the posted rates (after I went home I looked up the rates for the days I pulled money out). Now I use Schwab. No % and they even refund ATM fees. Rates were good if not better. I think it's just a myth that just because they charge less fees that they give shittier rates. If someone has used any other cards, how about posting your experience?

Hasideas Tao
07-26-11, 20:00
I have a capital one card. Seems to only work in Bancocolombia machines. There is an ATM fee but I did not see any other fees on my last report.

Member #4394
07-26-11, 22:44
Any chance that the cards with low / no transaction fees and good exchange rate require higher anual membership fee?


I've used Capital One. No % fees but $1. 50 per transaction. Their rates were comparable to the posted rates (after I went home I looked up the rates for the days I pulled money out). Now I use Schwab. No % and they even refund ATM fees. Rates were good if not better. I think it's just a myth that just because they charge less fees that they give shittier rates. If someone has used any other cards, how about posting your experience?

Hioctane
07-27-11, 05:53
Any chance that the cards with low / no transaction fees and good exchange rate require higher anual membership fee?None of my cards have membership fees. I won't sign up for a card like that. Usually membership fees are for cards that give you airline points. Or if you have no credit history.

Hioctane
07-27-11, 05:56
I have a capital one card. Seems to only work in Bancocolombia machines. There is an ATM fee but I did not see any other fees on my last report.Do you mean DOES NOT work in Bancocolombia machines? I am from the US. It will not take any of my cards. At first I thought it was that I was overdrawn for the day. I tried again and again and it does not seem to like US debit cards.

Member #4394
07-30-11, 01:43
Today the rate of COL P is $.00057 (US$=P1754). This is 14% decline from the. 0005/2000 days.

I believe that cutting travel budget by 14% is not that difficult (unless you are in Congress).

We can still survive.

Ezyngo
07-30-11, 03:15
Today the rate of COL P is $.00057 (US$=P1754). This is 14% decline from the. 0005/2000 days.

I believe that cutting travel budget by 14% is not that difficult (unless you are in Congress).

We can still survive.Not for long Matt. Looks like I will be in Mayo during my entire trip in two weeks, mas o menos. Any chance we can convince the chicas to drop their price 14. LOL. Thanks for the info. Don't forget 1st round of beers is on me. What the heck, I buy you a second round too. I am glad we always have our eyes and ears in Medellin and in Colombia in general.

Good days gents.

EZ

MiamiHeatLuver
07-30-11, 03:37
If it gets above 1800 and stays that way for a while ill be one happy camper for my upcoming trip. But just my luck I bet that debt ceiling shit will screw me up somehow and it will go to 1600 or some shit like that. Sheesh where have the 2500 days gone and why didn't buy property then? Still kick myself in the ass and torture myself every time I think about it.

Member #4394
07-30-11, 09:29
Even if Congress makes a compromise before Aug 2 and avoids default, the brinkmanship politics in Congress has already alianated investors and the USA bond holders, which will raise interest rates and lower the value of dollar. Democracy is costly.


If it gets above 1800 and stays that way for a while ill be one happy camper for my upcoming trip. But just my luck I bet that debt ceiling shit will screw me up somehow and it will go to 1600 or some shit like that. Sheesh where have the 2500 days gone and why didn't buy property then? Still kick myself in the ass and torture myself every time I think about it.

LocoGringo
07-30-11, 12:48
Bring cash, find a friendly exchange place and you will get 1780-1850 instead of the ATM rate. Things have changed, no longer is the ATM card where you get the best rate. When the gringo $ loses value the you get better than that exchange rate and pay no ATM fees. I have been here 11 years and always used an ATM before this year, now use the cambio. Bogota, Cali, Medellin are the best places but even in Cartagena last week when the rate was 1754 I got 1780 and 1800, now 1820. Maybe they are in denial but that indicates to me the government here cannot afford for the $ to lose more and are propping it up.

Hioctane
08-01-11, 08:30
Bring cash, find a friendly exchange place and you will get 1780-1850 instead of the ATM rate. Things have changed, no longer is the ATM card where you get the best rate. When the gringo $ loses value the you get better than that exchange rate and pay no ATM fees. I have been here 11 years and always used an ATM before this year, now use the cambio. Bogota, Cali, Medellin are the best places but even in Cartagena last week when the rate was 1754 I got 1780 and 1800, now 1820. Maybe they are in denial but that indicates to me the government here cannot afford for the $ to lose more and are propping it up.There are many cards with no ATM fees these days. Carrying cash is NOT advisable. Somebody can break into your place and steal all your money. Are you going to carry it on you? You can get robbed too. It's not worth the risk to save a couple of bucks. Say you get 30 pesos better deal. That's about $8 on $500 changed. Not worth the risk IMO. I'd rather go to the ATM every other day where I know my money is safe. As an aside. The last time I went in March. The ATM rates were comparable if not better than the posted rates.

MiamiHeatLuver
08-01-11, 18:28
There are many cards with no ATM fees these days. Carrying cash is NOT advisable. Somebody can break into your place and steal all your money. Are you going to carry it on you? You can get robbed too. It's not worth the risk to save a couple of bucks. Say you get 30 pesos better deal. That's about $8 on $500 changed. Not worth the risk IMO. I'd rather go to the ATM every other day where I know my money is safe. As an aside. The last time I went in March. The ATM rates were comparable if not better than the posted rates.I agree 100, I use no fee cards and I always get a good rates better than the posted ones in the casa de cambio. Banco Avilas seem to give me a few more pesos I don't know why but it does. I did an experiment using 2 different cards at the same machine at the same time. 1 was a paypal card and 1 was a fidelity. Fidelity with Banco Avilas gave me a better rate then Paypal with the $1 charge and Banco Avilas. (Duplicate Below)

LocoGringo
08-01-11, 23:47
Whatever, I have used bank cards for most of my time here. I doubt that it is more dangerous to cash $1000 at a cambio than standing at an ATM machine. It will change back, but for those who watch pesos and love the 25K casas remember. 1760 vs 1820 is 60, 000 per $1000. Add some fees in and, oh f-ckin well, do it like you want.

Ezyngo
08-03-11, 03:23
I was curious this morning at work about the above subject for the past year between USD and COP. So I went to http://www.xe.com/ To

Get the graph shown in the attachment. The only thing at stands out is the rate at the end of 2010. It looks like the last two weeks of 2010 saw $1USD worth more than $2000K COP. I do not recall that this was the case. Can anyone confirm this or maybe comment?

Good days gents.

EZ

Hioctane
08-03-11, 04:16
Whatever, I have used bank cards for most of my time here. I doubt that it is more dangerous to cash $1000 at a cambio than standing at an ATM machine. It will change back, but for those who watch pesos and love the 25K casas remember. 1760 vs 1820 is 60, 000 per $1000. Add some fees in and, oh f-ckin well, do it like you want.The danger is not in changing or withdrawing the money at a ATM. The danger is in carrying all that cash around.

Member #4394
08-03-11, 05:34
Yes, only oneday- dec. 28th. http://www.google.com/finance?q=USDCOP#


I was curious this morning at work about the above subject for the past year between USD and COP. So I went to.

http://www.xe.com/

To

Get the graph shown in the attachment. The only thing at stands out is the rate at the end of 2010. It looks like the last two weeks of 2010 saw $1USD worth more than $2000K COP. I do not recall that this was the case. Can anyone confirm this or maybe comment?

Good days gents.

EZ

Hioctane
08-03-11, 06:06
Even if Congress makes a compromise before Aug 2 and avoids default, the brinkmanship politics in Congress has already alianated investors and the USA bond holders, which will raise interest rates and lower the value of dollar. Democracy is costly.Actually you WANT interest rates to go up. More people will invest in treasuries and the dollar will get stronger. Interest rates are already it their all time lows. Do you see the dollar stronger?

LuckyEddie
08-03-11, 21:37
Actually you WANT interest rates to go up. More people will invest in treasuries and the dollar will get stronger. Interest rates are already it their all time lows. Do you see the dollar stronger?Great, your getting laid vacation is a priority over the US economy which the rest of the world also depends on. Good thing you are not allowed to vote on important issues. High interest rates, yes, money goes to fixed income instead of equities = stock market drop = lay offs and more outsourcing and the higher rates = tighter money for small buisiness and start ups. You will be unemployed with the COP at 2500 to $1USD.

This works for me but I'd rather see the big picture of a stable world market and economy instead of a good rate for my personal vacation. Somehow the "forrest for the trees" expression should come up about now.

Hioctane
08-04-11, 05:06
Great, your getting laid vacation is a priority over the US economy which the rest of the world also depends on. Good thing you are not allowed to vote on important issues. High interest rates, yes, money goes to fixed income instead of equities = stock market drop = lay offs and more outsourcing and the higher rates = tighter money for small buisiness and start ups. You will be unemployed with the COP at 2500 to $1USD.

This works for me but I'd rather see the big picture of a stable world market and economy instead of a good rate for my personal vacation. Somehow the "forrest for the trees" expression should come up about now.Actually I do want the interests to go up as a sign that the economy is strong and the US stop printing money so the dollar is stronger. Anyways that's an entirely different story.

I was solely pointing out Matt's comment about high interest rates = weak dollar.

Member #4394
08-04-11, 16:47
1) I never said that high interest rates cause a weak dollar. I said that the govtl gridlock would cause weak dollar and (in spite of) high interest rates. 2) interest rate differential is only one of many factors influencing exchange rates. Other factors influencing Forex include fiscal policy, inflation differentials, war, trade balance, and others. Thanks.


I was solely pointing out Matt's comment about high interest rates = weak dollar.

MiamiHeatLuver
08-04-11, 17:37
1) I never said that high interest rates cause a weak dollar. I said that the govtl gridlock would cause weak dollar and (in spite of) high interest rates. 2) interest rate differential is only one of many factors influencing exchange rates. Other factors influencing Forex include fiscal policy, inflation differentials, war, trade balance, and others. Thanks.Stock Market Crashing, I've ever seen it like this dropped 8 of 9 days straight Dollar steady climb against the peso approaching 1800. http://www.bloomberg.com/markets/currencies/americas/

"USA Stocks.

A global rout in equities drove the Standard & Poor's 500 Index to its worst nine-day slump since March 2009, while two-year Treasury yields plunged to a record low amid concern the economy is weakening. The yen pared losses, recovering from the biggest drop versus the dollar since 2008 after the Japanese government sold its currency."

Member #4394
08-04-11, 19:39
Yes, very weired. Stock market is declining and the US dollar is bouncing back. Untraditional combination.


Stock Market Crashing, I've ever seen it like this dropped 8 of 9 days straight Dollar steady climb against the peso approaching 1800.

http://www.bloomberg.com/markets/currencies/americas/

"USA Stocks.

A global rout in equities drove the Standard & Poor's 500 Index to its worst nine-day slump since March 2009, while two-year Treasury yields plunged to a record low amid concern the economy is weakening. The yen pared losses, recovering from the biggest drop versus the dollar since 2008 after the Japanese government sold its currency."

Papi Que Rico
08-04-11, 22:33
Yes, very weired. Stock market is declining and the US dollar is bouncing back. Untraditional combination.Not so weird. When the market dropped over 700 points in a day in 2008 the peso went to almost 2600.

Although the dollar and the US economy seem to be really fucked, when the markets crash the dollar is still viewed as a safe haven. I don't make any claims about how long this will last, but apparently it is still the case today.

MiamiHeatLuver
08-04-11, 22:54
The news says huge purchases in US treasury bonds (who does the world turn to for stability even today). But gold, oil, stocks and commodities all fell today. Yen took a shit and the Hi and mighty EURO is in turmoil with Greece, Italy, Portugal, Spain heading towards bankruptcy and possibly needing bailouts soon.

http://www.bloomberg.com/news/2011-08-04/european-banks-fall-to-two-year-low-as-sovereign-crisis-worsens.html

Golfinho
08-04-11, 23:28
The news says huge purchases in US treasury bonds (who does the world turn to for stability even today). But gold, oil, stocks and commodities all fell today. Yen took a shit and the Hi and mighty EURO is in turmoil with Greece, Italy, Portugal, Spain heading towards bankruptcy and possibly needing bailouts soon.

http://www.bloomberg.com/news/2011-08-04/european-banks-fall-to-two-year-low-as-sovereign-crisis-worsens.htmlBefore beginning of the summer, it was an easy call to move into fixed securities ahead of end of QEII

Member #4394
08-05-11, 00:29
I thought about the same, especialy for today. However, $ began bouncing back against peso "last week" when the US stock market began declining "slowly".


Although the dollar and the US economy seem to be really fucked, when the markets crash the dollar is still viewed as a safe haven. I don't make any claims about how long this will last, but apparently it is still the case today.

Member #4394
08-06-11, 14:43
It is very nice of S&P to downgrade the gov credit rating after the market closed. I am scared of taking a look at the exchange rate Monday morning. Perhaps better wthdraw as much as pesos before moday morning?

Manizales911
08-06-11, 15:08
It is very nice of S&P to downgrade the gov credit rating after the market closed. I am scared of taking a look at the exchange rate Monday morning. Perhaps better wthdraw as much as pesos before moday morning?In all due respect you are looking at this incorrectly. When the stock markets in the USA tank it tends to have a positive effect on the dollar. The dollar may have lost a lot of value in the last few years but whether or not people want to admit it or not it is still the benchmark currency in the world and is much more stable long term than any third world currency like the Colombian peso so when things look shaky the big players run to the dollar and that is a fact even today.

Member #4394
08-06-11, 19:19
Thanks. I am relieved.


In all due respect you are looking at this incorrectly. When the stock markets in the USA tank it tends to have a positive effect on the dollar. The dollar may have lost a lot of value in the last few years but whether or not people want to admit it or not it is still the benchmark currency in the world and is much more stable long term than any third world currency like the Colombian peso so when things look shaky the big players run to the dollar and that is a fact even today.

Bango Cheito
08-07-11, 22:12
Thanks. I am relieved.That's all about to change. And soon.

I wouldn't recommend going long on the USD!

Member #4394
08-08-11, 15:48
$1=P1806. Great.

LuckyEddie
08-08-11, 15:57
$1=P1806. Great.And US companies represented by the markets are down over 300 points.

How good is it to be unemployed with the COP at 2500 to the USD?

Penny wise and pound foolish. Somehow the "forrest for the trees" saying needs to go here.

Manizales911
08-08-11, 17:27
And US companies represented by the markets are down over 300 points.

How good is it to be unemployed with the COP at 2500 to the USD?

Penny wise and pound foolish. Somehow the "forrest for the trees" saying needs to go here.True enough. Then again I pulled my money out of the stock market a while ago and plan on moving to Colombia in about six months and will be moving some of my USD to COP whenever there is a move like this. I don't give a rats ass about the stock market and am rooting for the dollar to strengthen in the short term. I am leaving for Manizales on Friday so hopefully it will sustain until then.

As I mentioned before, when there is global financial turmoil the big boys run to the dollar, always have and always will.

Member #4394
08-08-11, 17:32
I, too, am concerened of the market crash. However, I do not think the market crash is the cause of strengthning dollar against peso. The dollar apprecialtion began a day or two before the Cong comproise to raise debt limit and avoid default, and the dollar kept rising since then. In other words, the strong dollar, currently, is not at the expense of the market crash. Thanks.


And US companies represented by the markets are down over 300 points.

How good is it to be unemployed with the COP at 2500 to the USD?

Penny wise and pound foolish. Somehow the "forrest for the trees" saying needs to go here.

LuckyEddie
08-08-11, 23:01
I, too, am concerened of the market crash. However, I do not think the market crash is the cause of strengthning dollar against peso. The dollar apprecialtion began a day or two before the Cong comproise to raise debt limit and avoid default, and the dollar kept rising since then. In other words, the strong dollar, currently, is not at the expense of the market crash. Thanks.Matt You're a good guy. My mistake is talking about this here. Something as basic as leading indicators and market anticipation as in stocks go up before good earnings come out becuase they are expected, is not really something all have experience with. When the great earnigs are announced the stock tanks becuse the stock already reponded to those ANTICIPATED earnigs in advance. It was no secret the debt ceiling would pass.

Right now stocks are dropping and the dollar is gaining becuase money is flooding into fixed income. I guess for you guys the explanation really doesn't matter. If a good percentage of guys here lost their job the COP / USD rate matters little.


True enough. Then again I pulled my money out of the stock market a while ago and plan on moving to Colombia in about six months and will be moving some of my USD to COP whenever there is a move like this. I don't give a rats ass about the stock market and am rooting for the dollar to strengthen in the short term. I am leaving for Manizales on Friday so hopefully it will sustain until then.

As I mentioned before, when there is global financial turmoil the big boys run to the dollar, always have and always will.My post on the market had nothing to do with individual investments although I should have been concerned for my brethren with 401Ks invested in US equities. My concern with the market had to do with over all corporations and US GDP.

Stock market indirectly affects employment in the US. So although you only give a rat's ass about yourself in the short term for your trip I am concerned about the fellas here who might be out of a job in 6 months, regardless of the 2500 COP to USD. The market tanking forces corporations, right or wrong, to make cuts. Which is French for layoffs.

Me? I personally have no problem if the COP is at 1000 to the USD. But my situation is different.

Either way not everyone here is knoledgable about this sort of thing and therein lies my mistake.

Good luck my friends.

Ezyngo
08-12-11, 16:59
I arrived in Rionegro around 8:30PM after a 11 hour flight from LA with one stop in Panama. Hauled my bag upstairs to exchange a few hundreds dollars. Got $1750 peso to the dollar. Not too happy because of the rate. It was kinda late so I decided to take a cab. The taxista quoted me 'cuarenta'. I thought he meant $40 dollars. So I asked him 'cuarenta que? ' He confirmed with me that 'cuarenta mils pesos'. I was happy I got a good deal. So 'vamos'. Took me to the gran hotel in el centro. Was kinda late but there were still a lot of people walking around. The hotel is situated next to Avenida Oriental so I think it is very convenient as far as traveling by bus is concerned or if using el metro the station nearby is Parque Berrio 4 blocks away and BJ park is 2 blocks out. As soon as I got my room, I called a few questionable non-pros. One was busy with her kid, one did not seem to be interested in meeting me tonight, one promised me tomorrow, and luckily, one was ready to go the mimute we hung up the phone. She showed up about 30 minutes later. So we took a cab to Parque Lleras for something to eat. I was way too hungry and thirsty and horny. Got there, had some sushi in a restaurant on the side of Hotel Lleras, facing the park. I believed it was opened not too long ago (6 months max). Good food. Reasonably expensive. Damage was $50K. After we ate and had a few Club Colombias, Monica (thats her name) asked me what we're going to do. I said 'vamos al hotel' because I could not take it anymore. By the way, she dressed very sexy and provocative in a sleeveless black short of a jumpsuit, very low cut that I could see most of her breasts of size C. She is about 5'4".120 lbs. 26 years olds with 2 kids, but that's a decent size of breast for a colombiana. No silicon as later after I felt them. Very natural. Overall I rated her a 6. Anyway, back to the hotel, at first she did want sex. Said she had to go home. But after a few kisses, here we went, into the bed. Her performance in bed was not so good. A little passive. Not even familiar with all the normal sexual positions. But she was very tight. Had a small pussy but so sweet and smells nice. Thank God. She asked me if I had a 'preservativo' or something like that. I went 'que? '. 'condom' she said. I went 'por que no me dijiste como eso? '. She put it on my dick. I went down on her. There after that about into 10 minutes fucking her, my dick got tired probably from a long day, it would not get hard again, did not matter what she did to get it up. So off I went and swallowed half of vitamine V. Waited, chit chat with her for a good 15 minutes then here we went back to fuck for a good at least 45 minutes nonstop. We were both sweating like crazy. There was no air conditioner in the room, only an electric fan. So I turned in on full blast. We went to sleep for a while until around 4am this morning. She said she had to go. She asked me for 'platicas'. I was not pleased but thinking I had a wonderful night, tired but still a good fuck. I gave her $100K pesos. Walked her downstairs, flagged a taxi. And there she went. Damage for last night was $150K. A little more than I used to spend but anyway had a great time. I should be in La Mayorista tonight if I can get away from the non-pros. My favorite seat is in front of hotel cielo azul.

156031

About Monica, I think she is a semi-pro. A photo for your viewing pleasure.

Good days gents.

Bennn
08-12-11, 22:47
Where would be the best place in Medellin to exchange cash dollars?

(casa de cambio, Bank, airport) , I do not have a no fee credit card.

Is it better to get traveler checks?

Thanks

Bango Cheito
08-13-11, 20:11
At the WU office yesterday, selling the dollar at 1830, buying at 1680, that's the biggest spread I've EVER seen here. Bascially you're fucked either way now.

MiamiHeatLuver
08-16-11, 21:37
Just this second gave me a rate of 1782.

Which is better than bloombergs posted rate of 1775, I have no fees whatsoever imposed on me by Citibank or Fidelity.

MiamiHeatLuver
09-12-11, 19:32
Real nice push today! @1820.

http://www.bloomberg.com/markets/currencies/americas/

John Gault
09-12-11, 21:43
Real nice push today! @1820.

http://www.bloomberg.com/markets/currencies/americas/The dollar is gaining strength. Today it was very good verse the Euro. Best rate in a long time. I guess Europe has just as many greedy bankers as the USA.

Yes soon my pecker will also be rising in MDE.

Is it Wed. Yet?

Fun Luvr
09-15-11, 14:16
Where would be the best place in Medellin to exchange cash dollars?

(casa de cambio, Bank, airport) , I do not have a no fee credit card.

Is it better to get traveler checks?

ThanksThe best place I have found is a cambio at the Monterey Mall. It is on the first floor, but I always have to search for it. The last time I was in MDE, that cambio was paying 1820, and the Bancolombia ATM was paying 1728. The cambio at the airport is a ripoff, paying 16 something. I don't have any personal experience with travelers checks in MDE, but I have heard it is difficult to cash them.

John Gault
09-15-11, 23:49
Yesterday at the airport the rate on my ATM transaction was 1792 per buck. Later at another machine I got 1801. This was the rate when I added the fee's.

It sure was nice when the rate was above 2, 000.

Hillbilly69
09-16-11, 00:11
Yesterday at the airport the rate on my ATM transaction was 1792 per buck. Later at another machine I got 1801. This was the rate when I added the fee's.

It sure was nice when the rate was above 2, 000.Cartagena Laguito was 1700 per dollar Bocagrande 1740 I suspect El Centro was a bit higher but never made it to check.

MiamiHeatLuver
09-22-11, 14:48
Wow! http://www.bloomberg.com/markets/currencies/americas/

Were does the world STILL feel safe even with the global recession. The $$$

U.S. Dollar heading towards 2-1 vs Brazil's Real... Something to consider.. http://www.bloomberg.com/news/2011-09-22/real-s-world-worst-plunge-may-trigger-intervention-reversal-brazil-credit.html

MiamiHeatLuver
09-22-11, 17:15
From what they're saying on Bloomberg, Colombia is the only country in South America with a progressing economy while the others have stabilized and digressed. If the $ does go over 2000, I don't think it will stay there for long.

Colombia, where investment from billionaires Carlos Slim and Sam Zell has kept economic growth accelerating, is the only country in Latin America where traders are predicting more interest rate increases to slow inflation.

While policy makers in Brazil are cutting borrowing costs to guard against a global slowdown and investors are abandoning calls for increases in Mexico and Chile, traders predict Colombia will lift its key rate this year. Banco de la Republica will boost the rate for a seventh time in 2011, bringing borrowing costs to 4. 75 percent by December from 4. 5 percent today, according to swaps data compiled by Citigroup Inc.

Colombia is benefiting from a decade of military victories over guerrillas that have opened up swathes of countryside for companies to explore for crude, coal and gold. Zell's investments in real estate and Slim's push into oil are helping fuel $9. 6 billion in foreign investment this year, the most in at least 12 years, spurring economic growth above 5 percent and pushing inflation to a two-year high.

'Colombia's economy is still accelerating, ' said Alejandro Arreaza, a Latin America analyst at Barclays Capital Inc. In New York. 'Other countries in the region are at a stage of moderating growth and so you see them shifting to a less restrictive monetary policy. '

Gross domestic product expanded 5. 1 percent in the first quarter, the fastest pace since the three months ended June 2008. The government statistics agency will report today that the economy grew 5. 2 percent in the second quarter, according to the median estimate of 28 economists surveyed by Bloomberg.

http://www.bloomberg.com/news/2011-09-22/slim-lured-to-colombia-as-rebel-retreat-fuels-rate-increase-bets.html

Woodman09
10-02-11, 08:46
Best Place I have found for changing Cash is Jordache Exchange in Gallerias Area behind the mall.

MiamiHeatLuver
10-03-11, 15:12
After all the concern that the USA is debasing its currency, the dollar beat stocks, bonds and commodities for the first time since May as investors sought refuge from slowing growth and Europe's sovereign-debt crisis.

The USA currency rose 6 percent in September, according to IntercontinentalExchange Inc. 's Dollar Index, beating returns of 1. 6 percent by Bank of America Merrill Lynch's USA Treasury Master Index. The MSCI All-Country World Index of stocks in 45 countries lost 8. 9 percent, the largest monthly drop since May 2010. Raw materials measured by the Standard & Poor's GSCI Total Return Index of 24 commodities slid 12 percent.

Gains for the world's reserve currency show investor confidence in the nation's creditworthiness after Standard & Poor's stripped the USA of its AAA rating two months ago. Even with Republican leaders in Congress joining critics of Federal Reserve stimulus measures, the currency bested all 16 of its most-traded counterparts in September for the first month in more than three years.

'In a time of crisis you want to be holding the most liquid currency out there, ' Aroop Chatterjee, a currency strategist at Barclays Capital Inc. In New York, said in a telephone interview Sept. 27. 'It waters down the argument for 'the end of the dollar as a reserve currency. '

Strategists reduced forecasts for the euro versus the dollar and sterling by the most since June 2010 last month. Predictions the Canadian dollar will gain against the greenback dropped the most since October 2008.

http://www.bloomberg.com/news/2011-10-02/dollar-beating-all-assets-in-september-undermines-s-p-downgrade.html

John Gault
10-03-11, 16:05
After all the concern that the USA is debasing its currency, the dollar beat stocks, bonds and commodities for the first time since May as investors sought refuge from slowing growth and Europe's sovereign-debt crisis.

The USA currency rose 6 percent in September, according to IntercontinentalExchange Inc. 's Dollar Index, beating returns of 1. 6 percent by Bank of America Merrill Lynch's USA Treasury Master Index. The MSCI All-Country World Index of stocks in 45 countries lost 8. 9 percent, the largest monthly drop since May 2010. Raw materials measured by the Standard & Poor's GSCI Total Return Index of 24 commodities slid 12 percent.

Gains for the world's reserve currency show investor confidence in the nation's creditworthiness after Standard & Poor's stripped the USA of its AAA rating two months ago. Even with Republican leaders in Congress joining critics of Federal Reserve stimulus measures, the currency bested all 16 of its most-traded counterparts in September for the first month in more than three years.

'In a time of crisis you want to be holding the most liquid currency out there, ' Aroop Chatterjee, a currency strategist at Barclays Capital Inc. In New York, said in a telephone interview Sept. 27. 'It waters down the argument for 'the end of the dollar as a reserve currency. '

Strategists reduced forecasts for the euro versus the dollar and sterling by the most since June 2010 last month. Predictions the Canadian dollar will gain against the greenback dropped the most since October 2008.

http://www.bloomberg.com/news/2011-10-02/dollar-beating-all-assets-in-september-undermines-s-p-downgrade.htmlYes the dollar is strong, the food is great in the US, and everything works very well. Now if only the Gringas-

MiamiHeatLuver
10-03-11, 18:59
Yes the dollar is strong, the food is great in the US, and everything works very well. Now if only the Gringas-As much as the flights are right now, lower fuel costs, full planes. I just don't understand this shit. Flight to Colombia are $600+ from Miami WTF? I wonder where the fuck the money is going?

http://www.bloomberg.com/news/2011-10-03/amr-falls-to-lowest-since-2009.html

Hillbilly69
10-03-11, 19:01
As much as the flights are right now, lower fuel costs, full planes. I just don't understand this shit. Flight to Colombia are $600+ from Miami WTF? I wonder where the fuck the money is going?

http://www.bloomberg.com/news/2011-10-03/amr-falls-to-lowest-since-2009.htmlEver see the perks AA employees get?

John Gault
10-03-11, 23:56
As much as the flights are right now, lower fuel costs, full planes. I just don't understand this shit. Flight to Colombia are $600+ from Miami WTF? I wonder where the fuck the money is going?

http://www.bloomberg.com/news/2011-10-03/amr-falls-to-lowest-since-2009.htmlAmerican Airlines is the worst when it comes to losing your baggage. I will never ever check another bag with them. Two days in Cali wth no bags then they never paid me for the expense of having to go back to the airport to finally get my bags.

As far as fuel costs, everyday the price of oil is dropping yet they don't budge on their fares. They deserve to go broke, but that would only hurt us more with one less airline in operation.

This happened with Aires. They stopped going to Latin America, and Spirit has upped their fares quite a lot with almost no specials like they used to have. Nine dollar fare club my ass.

Manizales911
10-04-11, 01:43
As much as the flights are right now, lower fuel costs, full planes. I just don't understand this shit. Flight to Colombia are $600+ from Miami WTF? I wonder where the fuck the money is going?

http://www.bloomberg.com/news/2011-10-03/amr-falls-to-lowest-since-2009.htmlMIA-MDE on Copa is $520, with limited numbers of flights and those flights all being full they don't have to give the seats away.
What I find to be fucked up is for $50. more $570.,I can go from JFK-MDE,a trip almost twice as far. That makes no sense.

MiamiHeatLuver
10-04-11, 02:24
MIA-MDE on Copa is $520, with limited numbers of flights and those flights all being full they don't have to give the seats away.

What I find to be fucked up is for $50. More $570, I can go from JFK-MDE, a trip almost twice as far. That makes no sense.Bro its always like that for some fucking strange reason. Some other whacked shit it my friends from NYC are always ragging on me that when we hit the D. R. The pay like $280 from JFK and I was always paying like $400 from MIA. WTF? LOL

Ezyngo
10-04-11, 02:50
I did some research and this was the best answer I've gotten.

Prices are set the same way that they are set by any business. They are based on the cost of providing the service and what customers are willing to pay. Distance is not the primary criteria.

Some factors are:

A. The level of competition. A market that has many airlines serving it will typically have lower fares than one with a couple of airlines or a monopoly.

Be. Demand for seats. Fares will be higher on routes with very high demand for seats relative to supply. Fares will be lower on routes with lower demand for seats relative to supply.

See. The mix of traffic. Routes with high concentrations of business travelers will have higher fares than routes that cater primarily to leisure travelers. Why? Because business travelers have to get where they are going. It's not discretionary travel, so they will pay for it. Vacation travelers can cancel their trips, change the dates, or select a different destination when they are unhappy with fares.

In short, fares are set at the level that generates the highest revenue for the airline. If business drops off, they will lower fares in an attempt to generate more business. If flights are full, they will raise prices to take advantage of it.

Viajero
10-04-11, 23:26
I did some research and this was the best answer I've gotten.

Prices are set the same way that they are set by any business. They are based on the cost of providing the service and what customers are willing to pay. Distance is not the primary criteria.

Some factors are:

A. The level of competition. A market that has many airlines serving it will typically have lower fares than one with a couple of airlines or a monopoly.

Be. Demand for seats. Fares will be higher on routes with very high demand for seats relative to supply. Fares will be lower on routes with lower demand for seats relative to supply.

See. The mix of traffic. Routes with high concentrations of business travelers will have higher fares than routes that cater primarily to leisure travelers. Why? Because business travelers have to get where they are going. It's not discretionary travel, so they will pay for it. Vacation travelers can cancel their trips, change the dates, or select a different destination when they are unhappy with fares.

In short, fares are set at the level that generates the highest revenue for the airline. If business drops off, they will lower fares in an attempt to generate more business. If flights are full, they will raise prices to take advantage of it.Why fares are so fricken high from Medellin to San Jose Costa Rica! That amazes me how high it is. It is only an hour trip and they are asking $788 American Dollars, and that was the cheapest.

Ezyngo
10-06-11, 03:31
Now the USD is much stronger and the best I can get (outside of BOG) is 1800, and that's a struggle.

Anyone in BOG or MDE change $$ recently?I received 1870 COP per dollar in one of the Western Union office in El Centro in Medellin on Avenida Oriental.

Nclpimp
10-07-11, 17:54
To go to the ATMs to take out money, but their fee plus my bank charges %3 of all transactions international and who knows the rate you'll get or send money from here and keep it in an account which charges %4 but they give you wholesale rate. Today was 1980. I've always done the ATM but I'm thinking the send money from the US might be a better option.

MiamiHeatLuver
10-11-11, 16:05
To go to the ATMs to take out money, but their fee plus my bank charges %3 of all transactions international and who knows the rate you'll get or send money from here and keep it in an account which charges %4 but they give you wholesale rate. Today was 1980. I've always done the ATM but I'm thinking the send money from the US might be a better option.Its been discussed here in this thread a million times that a no fee card such as Capital one, Fidelity, Scott trade is by far the best bet. Best rates and no fee. You can also try and google "no international fee atms"

MiamiHeatLuver
10-11-11, 16:10
Another HUGE drop today. From almost hitting 2000. To going under 1900. All in the span on a week. WTF?

http://www.bloomberg.com/markets/currencies/americas/

USD-COP 1, 911. 9300 -24. 9750 -1. 2894% 11:02

Doubt98
10-11-11, 18:13
Another HUGE drop today. From almost hitting 2000. To going under 1900. All in the span on a week. WTF?

http://www.bloomberg.com/markets/currencies/americas/

USD-COP 1, 911. 9300. 24. 9750. 1.2894% 11:02The only consistency I have found is a drop that directly coincides with my days in country. I have resigned myself to being happy as long as it's above 1700.

SlamCity7777
10-11-11, 19:24
The only consistency I have found is a drop that directly coincides with my days in country. I have resigned myself to being happy as long as it's above 1700.I'm with you! Seems that when I'm in Colombia the guys runs to switch the numbers on me! IMO anything over $1900K is great vs the $1780K-$1890K it has been. Hope the $1900K holds.

HelpRules
10-11-11, 22:25
This dollar strength we have was temporary. We went from 73 to 79 in a pretty short span. One day people will not pile into the dollar. It is no safe haven, and when people realize this, your dollars will be like toilet paper. You can thank Obamanomics and Bushonomics for that. When you have 2 of the most unqualified presidents back to back, there are going to be problems. Remember, Bush was president because of white privilege, and Obama because he is black. Affirmative action and quotas. They have completely destroyed this country in 12 years. Obama couldn't run a lemonade stand. He is another college boy that went straight into politics. Never had a real job or hired anyone. Never ran a business. A complete Clarence Thomas dope.

John Gault
10-12-11, 13:45
Wednesday, October 12, 2011

1 US Dollar = 1, 962. 23 Colombian Peso

1 Colombian Peso (COP) = 0. 0005096 US Dollar (USD)

Median price = 1, 900. 62/1, 962. 23 (bid / ask)

Minimum price = 1, 894. 40/1, 916. 50

Maximum price = 1, 914. 50/1, 973. 10

MiamiHeatLuver
10-12-11, 14:23
Wednesday, October 12, 2011

1 US Dollar = 1, 962. 23 Colombian Peso

1 Colombian Peso (COP) = 0. 0005096 US Dollar (USD)

Median price = 1, 900. 62/1, 962. 23 (bid / ask)

Minimum price = 1, 894. 40/1, 916. 50

Maximum price = 1, 914. 50/1, 973. 10What site are you using JC because even on the official Colombian bank page its at 1913.http://www.banrep.gov.co/statistics/sta_exchange_d.htm and on Bloomberg its much worse at like -1897

Manizales911
10-13-11, 15:03
This dollar strength we have was temporary. We went from 73 to 79 in a pretty short span. One day people will not pile into the dollar. It is no safe haven, and when people realize this, your dollars will be like toilet paper. You can thank Obamanomics and Bushonomics for that. When you have 2 of the most unqualified presidents back to back, there are going to be problems. Remember, Bush was president because of white privilege, and Obama because he is black. Affirmative action and quotas. They have completely destroyed this country in 12 years. Obama couldn't run a lemonade stand. He is another college boy that went straight into politics. Never had a real job or hired anyone. Never ran a business. A complete Clarence Thomas dope.The doomsayers have been claiming that the dollar is going to be toilet paper now for years. What they don't fucking realize is that when the USA economy goes down so does a good chunk of the rest of the world's, look at Spain, Greece, Italy, etc, they are in much worse shape than the USA. Therefore the big players run to the dollar like they have been doing for the last century and will continue to do because believe it or not the USA is still the 500 pound gorilla in the room and the USA dollar is still and always will be the standard by which world currencies revolve around.

HelpRules
10-13-11, 19:41
Thats what Britain thought. Thats what the Roman Empire thought. America is next. We are one big welfare state. Everyone has their hand out and thinks the government should take care of them for free. Medicare, social security, welfare, food stamps, section 8. Lets not forget the invention of the federal reserve and the income tax. Its over for America.

John Gault
10-14-11, 03:17
What site are you using JC because even on the official Colombian bank page its at.

1913.http://www.banrep.gov.co/statistics/sta_exchange_d.htm

And on Bloomberg its much worse at like. 1897Http://www.worldsexarchives.com/main.html

John Gault
10-14-11, 03:20
The weathered old man cannot read so hopefully this will explain it all!For your info Mr. Wise Guy, I don't even need glasses.

Bango Cheito
10-16-11, 00:14
Thats what Britain thought. Thats what the Roman Empire thought. America is next. We are one big welfare state. Everyone has their hand out and thinks the government should take care of them for free. Medicare, social security, welfare, food stamps, section 8. Lets not forget the invention of the federal reserve and the income tax. Its over for America.I was just about to say. It was biz as usual in Rome right up until the last day when the barbarians were at the gates.