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You Can
10-16-11, 01:46
Good thing I got my fucking vault filled with pure gold that I brought home from South Africa over the last 60 years. I am now 85 years old and am not worried about anything cause I have a big wheel barrel that if needed I can fill with my big gold nuggets.


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.

HelpRules
10-16-11, 03:12
Every great empire eventually falls and a new hungrier one takes it place. Every paper currency eventually goes to zero. Its like boxing. You work your ass off to get out of the ghetto and become champ of the world, and then get lazy once you get there. China is the new Buster Douglas. We are Tyson. We forgot what made us great.

Ezyngo
10-16-11, 18:18
Every great empire eventually falls and a new hungrier one takes it place.Capitalism is going down like the Titanic. Why? 3 reasons: Greed, greed, and greed. I can feel some new (not necessarily better) form of economic doctrine gradually taking shape but I am yet not sure what it is going to be.

Member #4394
10-16-11, 18:56
Every great empire eventually falls and a new hungrier one takes it place.It is not hungrier one that takes the place.


Every paper currency eventually goes to zero.Not true.


China is the new Buster Douglas. .Chinese GNP surpassed Japanese recently and became the second largest in the world. But it is because of the population which counts 20% of the whole world population. Chinese GNP per Capita ranks around 80th, poorer than Mexico.

You69Me
10-17-11, 23:50
Capitalism is going down like the Titanic. Why? 3 reasons: Greed, greed, and greed. I can feel some new (not necessarily better) form of economic doctrine gradually taking shape but I am yet not sure what it is going to be.The economy itself is the problem.

Money has no value and should only be a tool.

Bango Cheito
10-19-11, 22:51
It is not hungrier one that takes the place.

Not true.

Chinese GNP surpassed Japanese recently and became the second largest in the world. But it is because of the population which counts 20% of the whole world population. Chinese GNP per Capita ranks around 80th, poorer than Mexico.That's still a lot of economic weight to throw around, no matter how many people are part of it. You seem to be unclear on the concept. Nobody's lauding the Chinese standard of living here, but the fact that their GNP WILL surpass the US's means they WILL control world markets. They will be the new masters.

Legal Tender
10-19-11, 23:16
Good thing I got my fucking vault filled with pure gold that I brought home from South Africa over the last 60 years. I am now 85 years old and am not worried about anything cause I have a big wheel barrel that if needed I can fill with my big gold nuggets.Spread a little around. You can't take it with you. No doubt in Colombia you can find many people whose lives you can make better. At 85 remember, you can't take it with you. Money can buy everything but love and time.

Only good energy

HelpRules
10-19-11, 23:22
China is going to be the biggest economy in the world. Its not because they have alot of people. India has over a billion people, and they are nowhere near the biggest economy. China is becoming a more developed capitalist country. PERIOD! They are moving more towards capitalism and away from communism. We are going away from capitalism and towards socialism. This demise accelerated when we went off the gold standard in 1971. Its been debt, debt- wars, wars, ever since. No gold standard means politicians can print money to pay for everything. Thats what they have done for the last 40 years. Obama is now the biggest spender in history. One worthless stimulus program after another. All paid for by a printing press or China. His 800 billion stimulas didn't work, and now he wants a new 450 billion dollar one. His 8k housing credit didn't work. His cash for clunkers didn't work. He is clueless. Check out this chart: www.infoplease.com/ipa/A0001519.html

Manizales911
10-19-11, 23:23
That's still a lot of economic weight to throw around, no matter how many people are part of it. You seem to be unclear on the concept. Nobody's lauding the Chinese standard of living here, but the fact that their GNP WILL surpass the US's means they WILL control world markets. They will be the new masters.The USA GNP is 30% higher than China, that's a lot of ground to make up and the only reason it is that close is because China has a much higher population. If you look at it per capita the USA is 600% higher. The USA will force China to revalue the Yaun and that will set them zipperheads back on their heals.

HelpRules
10-19-11, 23:28
You Can,

Shouldn't you be spending your money before you die. I would have spent it all and lived off my social security when I hit 67. Get spending! There are chicas waiting.

Legal Tender
10-20-11, 00:30
The USA GNP is 30% higher than China, that's a lot of ground to make up and the only reason it is that close is because China has a much higher population. If you look at it per capita the USA is 600% higher. The USA will force China to revalue the Yaun and that will set them zipperheads back on their heals.Are there more Chinese coming to the USA to buy gringo pussy than gringos going to China to buy chink pussy? I think the answer is undisputed. I rest my case.

Member #4394
10-20-11, 00:38
Perhaps that means the USA, with 25% of the world GNP,"controls" the world market today, and it is the "master." In fact, it is controling very well.


the fact that their GNP WILL surpass the US's means they WILL control world markets. They will be the new masters.

Bango Cheito
10-26-11, 22:06
Perhaps that means the USA, with 25% of the world GNP,"controls" the world market today, and it is the "master." In fact, it is controling very well.That 30% lead the US has on China is all smoke and mirrors. Watch what happens when the US gets REMOVED as a world reserve currency. When oil gets traded in some other currency, or in a basket. Watch what happens when China decided the jig is up and refuses to lend anymore. For that matter, when China DOES finally let its currency strengthen naturally, that alone will more than erase the 30% gap.

The US is the BORROWER now, China is the LENDER. And China is the one MAKING all the shit. The US is CONSUMING it. That's not exactly bringing anything to the table. And it puts the US in NO position to be calling the shots anymore.

On a less OT note I predict 1500 COP to the dollar within the next year to 18 months, TOUCH within 18 months and AVERAGE within 2-3 years. If not sooner.

Dermdoc58
11-11-11, 05:07
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.Obama isn't qualified to run a garage sale-he is a loser

Member #4394
12-14-11, 02:26
A Fidelity Card Rep told me that while Fidelity does not charge fees, credit companies issueing the card (AMEX for my card) charge foreign transaction fee, which is 1% for AMEX. These fee systems are reminiscent of the fee system in centro strip clubs.


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.

Ezyngo
12-16-11, 23:00
Got 1910 COP per dollar at Santa Fe mall today.

Cheers

Hillbilly69
12-22-11, 00:11
Colombia will limit the amount banks can charge for cash withdrawals at automated teller machines in a new regulation opposed by the country's banking association.

Finance Minister Juan Carlos Echeverry said that under a new decree banks will be able to charge a maximum 3, 965 pesos ($2. 05) per ATM withdrawal outside their networks. ATM costs in Colombia are 'excessive' and among the highest in Latin America, Echeverry said.

'This is aimed at more inclusive banking and will attract more people to financial services, ' Echeverry told reporters in Bogota.

The fee ceiling may take away incentives for banks to install more ATMs and could reduce 'quality of service, ' Maria Mercedes Cuellar, head of Colombia's banking association, told CM& Noticias Dec. 14.

Doubt98
12-23-11, 08:03
Just go to ATM's in nice areas. There will still be plenty of locations there and there will not be a drop off in services in those areas. The lower areas are where the issue will take the biggest toll. That is also the area with the highest risk for the banks (vandalism, theft, fake cards.)

MiamiHeatLuver
01-10-12, 21:11
And just in time for my upcoming trip. I was just at almost 2000 now at 1860.

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

John Gault
01-11-12, 01:04
And just in time for my upcoming trip. I was just at almost 2000 now at 1860.

http://www.bloomberg.com/markets/currencies/americas/Not only is the dollar falling, but since the first of the year there has been a general price increase in MDE. For example the Metro in Sept. Was 155 pesos, and now it is 180 pesos. Also the hotels seemed to increase their prices by about 10%. Only good thing is the SW's are still reasonable.

MiamiHeatLuver
01-11-12, 01:37
Not only is the dollar falling, but since the first of the year there has been a general price increase in MDE. For example the Metro in Sept. Was 155 pesos, and now it is 180 pesos. Also the hotels seemed to increase their prices by about 10%. Only good thing is the SW's are still reasonable.I think your missing a zero at the end of the metro pricing big guy.

John Gault
01-11-12, 02:31
I think your missing a zero at the end of the metro pricing big guy.The Metro price now is 1800 pesos.

I guess it was wishful thinking. Sure be nice to drop a zero on all the prices. LOL

Ezyngo
01-11-12, 02:47
The Metro price now is 1800 pesos.I was there in the middle of December, just before Christmas. They raised the fare just a few weeks before that. I forgot to report on it.

Cheers.

Bango Cheito
01-12-12, 05:16
I think I've seen a pattern here, it seems the peso always gets a bit cheaper around Christmas time and bounces back the 2nd week of January, usually right after I-ve had to change COP for USD because I usually have to fly up to the US in January :P

MiamiHeatLuver
02-01-12, 16:43
Doesn't look good for a while.

http://www.bloomberg.com/quote/USDCOP:CUR

Knight007
02-01-12, 16:53
Doesn't look good for a while.

http://www.bloomberg.com/quote/USDCOP:CUROMG, sex is more expensive every month!

Bango Cheito
02-05-12, 20:12
1785 and falling.

Tomasb
02-06-12, 04:19
Yeah, tell that to Osama.

UOTE=Dermdoc58; 1216017]Obama isn't qualified to run a garage sale-he is a loser[/QUOTE]

LocoGringo
02-10-12, 16:12
Once again you get more in the cambio than out of atm. Atm = 1787, they were giving 1860 at several exchanges in Medellin yesterday. Government is buying $ to prop its value up again so they expect the $ value to increase. I have used atm for 12 years and occasionally (when $ value drops) cambio is the best bet.

LocoGringo
02-10-12, 16:15
By the way Obama didn't engage in 2 wars and give the biggest tax decrease to the 1, it is hard to stop a jump with no parachute.

Bango Cheito
02-13-12, 07:00
Once again you get more in the cambio than out of atm. Atm = 1787, they were giving 1860 at several exchanges in Medellin yesterday. Government is buying $ to prop its value up again so they expect the $ value to increase. I have used atm for 12 years and occasionally (when $ value drops) cambio is the best bet.Cambios seem to lag maybe 2 weeks or so behind what actually happens in the market.

Iguana Six
02-13-12, 16:37
By the way Obama didn't engage in 2 wars and give the biggest tax decrease to the 1, it is hard to stop a jump with no parachute.Off topic, so I'll be pithy. When Bush ran for re-election, I was paying $1. 42 for a gallon of gasoline and the unemployment rate was 4. 2%. And he wasn't drumming up a war in Libya, Iran, or Syria.

SlamCity7777
02-13-12, 17:29
Off topic, so I'll be pithy. When Bush ran for re-election, I was paying $1. 42 for a gallon of gasoline and the unemployment rate was 4. 2%. And he wasn't drumming up a war in Libya, Iran, or Syria.Bro "LONG TERM" 4 years 8 year is nothig to see the changes that laws and policy changes cause. We caused 2 wars and NOW we're feeling the brunt of that ugly!

Hanshin Baka
02-13-12, 18:51
Off topic, so I'll be pithy. When Bush ran for re-election, I was paying $1. 42 for a gallon of gasoline and the unemployment rate was 4. 2%. And he wasn't drumming up a war in Libya, Iran, or Syria.Let me guess, you got the "Mission Accomplished" banner hung at your home. During the Bush administration did you ever wonder why so many foreign service officers retired or quit?

Doubt98
02-13-12, 19:36
Bro "LONG TERM" 4 years 8 year is nothig to see the changes that laws and policy changes cause. We caused 2 wars and NOW we're feeling the brunt of that ugly!Proper quote until the "we caused" part. But yes for policy changes it can take up to 4 years for it to show in the long term. But spending, tax, and protectionist type laws almost always have immediate effect. Whether you want to believe it or not, the market is intelligent and reacts to what it sees. I would venture this proposal, the market is being held down just as much by the uncertainty this administration exudes as their restrictive policies. The WSJ had an article on the the "new" bond market last Saturday. Read that and let's talk again about the timeline.

Iguana Six
02-14-12, 09:17
Let me guess, you got the "Mission Accomplished" banner hung at your home. During the Bush administration did you ever wonder why so many foreign service officers retired or quit?No, I didn't have to wonder. I know why many of them retired or quit. They were happy to serve in safe, cushy positions in modern first world countries. They were happy to push paper behind a desk in Paris or Tokyo or London, but when they were told they could either take on a tour doing actual work in places like Iraq or Afghanistan, living in tents, and getting their boots dirty, they decided it was time to apply for pensions that would scandalize the private sector.

$1. 40 gas. 4.2% unemployment, low inflation, and there was no attempt to justify extra-judicial killings of American citizens, or any of the potential democracy-killing aspects of the latest National Defense Authorization Act. I would be glad to trade 2004 for 2012.

Hillbilly69
03-08-12, 17:05
Got 1800 pesos per dollar at cambio just down from entrance of parque lleras on calle 10, airport Tuesday was 1740 downstairs before exit and 1800 on second floor. Cambio in San Diego mall 1810 per dollar and a little better thanthat at Oviedo but the cambio on calle 10 no I'd bullshit, just channge the money!

MiamiHeatLuver
03-08-12, 17:44
Got 1800 pesos per dollar at cambio just down from entrance of parque lleras on calle 10, airport Tuesday was 1740 downstairs before exit and 1800 on second floor. Cambio in San Diego mall 1810 per dollar and a little better thanthat at Oviedo but the cambio on calle 10 no I'd bullshit, just channge the money!Its bad and getting worse! I haven't seen any substantial upswings in quite a while, a member down below was getting 1860 just recently, it might be worth the trip for me.

I know that cambio on calle 10 very well, as soon as I left it Police miraculously showed up out of nowhere and waived me over and asked to see my passport, thank god I always carry a copy which I thought I left at the apartment! I was getting that worried feeling in my gut.

Hill I bet they wait there to try and shake down tourists with no I'd's.

http://www.bloomberg.com/quote/USDCOP:CUR

Member #4394
03-08-12, 18:01
It appears that the strength of dollar moved opposite to the market movement in the past months.

When the market crashes or any military tension occurs somewhere in the world, it maybe a time to buy and keep pesos.

But the current rate is (only?) 10% lower than the high rate in early October when the market stumbled.

We just need to cut down expenses by 10%. It is not impossible. Thanks.


Its bad and getting worse! I haven't seen any substantial upswings in quite a while, a member down below was getting 1860 just recently, it might be worth the trip for me.

I know that cambio on calle 10 very well, as soon as I left it Police miraculously showed up out of nowhere and waived me over and asked to see my passport, thank god I always carry a copy which I thought I left at the apartment! I was getting that worried feeling in my gut.

Hill I bet they wait there to try and shake down tourists with no I'd's.

http://www.bloomberg.com/quote/USDCOP:CUR

Hillbilly69
03-08-12, 18:28
Its bad and getting worse! I haven't seen any substantial upswings in quite a while, a member down below was getting 1860 just recently, it might be worth the trip for me.

I know that cambio on calle 10 very well, as soon as I left it Police miraculously showed up out of nowhere and waived me over and asked to see my passport, thank god I always carry a copy which I thought I left at the apartment! I was getting that worried feeling in my gut.

Hill I bet they wait there to try and shake down tourists with no I'd's.

http://www.bloomberg.com/quote/USDCOP:CURI used to get shaken down from police but that was a long time ago, this trip is my 14th year in Medellin.

Jinxx
03-08-12, 19:32
It appears that the strength of dollar moved opposite to the market movement in the past months.

When the market crashes or any military tension occurs somewhere in the world, it maybe a time to buy and keep pesos.

But the current rate is (only?) 10% lower than the high rate in early October when the market stumbled.

We just need to cut down expenses by 10. It is not impossible. Thanks.I'd say cut down expenses by bargaining harder. Start expecting more for your peso. Hopefully this will happen naturally.

MiamiHeatLuver
03-08-12, 19:58
I'd say cut down expenses by bargaining harder. Start expecting more for your peso. Hopefully this will happen naturally.This is great advice, I don't even shop at pomona or exito anymore. I hit el centro with the locals. Hey people there are millions of people who have houses and support families with the 640k monthly minimum wage!


I used to get shaken down from police but that was a long time ago, this trip is my 14th year in Medellin.Though not quite as long as you, I've been going to Colombia for quite a while as well but what does the random shake-down have to do with the amount of years you've been going to Medellin? I for example don't look Caucasian and could be from anywhere. Of course there are the usual nuances where if I guess you look like a very out of place lost Caucasian tourist you might have a higher propencity to get harrassed by the 5, O's.

Hillbilly69
03-08-12, 20:58
Though not quite as long as you, I've been going to Colombia for quite a while as well but what does the random shake-down have to do with the amount of years you've been going to Medellin? I for example don't look Caucasian and could be from anywhere. Of course there are the usual nuances where if I guess you look like a very out of place lost Caucasian tourist you might have a higher propencity to get harrassed by the 5, O's.Nothing, shit happens to anyone, my response was longer but I am on my kindle fire and the spelling was fucked up so I deleted it. Point was I used to get shaken down alot by police and now not so much.

Member #4394
03-09-12, 00:22
Correct. Plus, look for services 10% cheaper, reduce the amount of the services you usually buy by 10%, and/or reduce (or eliminate) the less important services by a larger percentage. It won't be too painful. Actually this could be a good opportunity to make a cost-effective mongering plan, and you may end up with a great mongering experience with lower cost. Who knows.


I'd say cut down expenses by bargaining harder. Start expecting more for your peso. Hopefully this will happen naturally.

LocoGringo
03-09-12, 01:29
Or come to Rivera Beach for some crack ho's, hear it is 40-50, 000 pesos. Same price as some casas in Medellin.

MiamiHeatLuver
04-03-12, 18:42
Bought a lot of dollars and euros with me this trip. Cash is king and giving much better rates than my no fee debit card. After looking around quite a bit I found that in Premium Plaza the Mercado Libre de Divisas (right in the main door on the right) was giving the best rate of 1820 on Friday but went down to 1805 on Monday, and the euro was at 2230. Everything else was shit with the worst being ANY western union at 1730. My no fee credit card gave me 1760 the first night. Been here a week already with much success with my regulars and hot new girls. Havent needed a casa yet thank god! Life is good right now.

Zing23
04-04-12, 02:18
This shopping mall has a ton of money change places on the third floor. Very competitive. You can go around and ask each place their rate to change a certain amount into pesos. One will be the best. Fairly safe as well.

http://www.avenidachilecentrocomercial.com

Calle 72 at K 10. Chapinero Bogota.

-zing

Jasss
04-04-12, 13:35
Can anyone advise me on good money exchanges in Medellin, that ex GBP Sterling at good rates.

Thanks

Bbrocs
04-04-12, 14:11
Can anyone advise me on good money exchanges in Medellin, that ex GBP Sterling at good rates.

ThanksJass, my two cents, the cambio's exchange to pesos either US dollars or euro's, the bank would have to exchange pound sterling. I am almost sure of this, but I could be wrong. My suggestion is if before your arrival you could get a good rate on euro's bring that and then exchange that at the cambio. If you can't exchange GBP for euros without giving up to much, then use the ATM's all around Medellin. Pref. A card that pays back the ATM fee and has no extra foreign exchange charges.

Bbrocs
04-11-12, 13:19
This is a heads up, yesterday all Cambio's lowered there rates dramatically on dollars to pesos. In fact it's now time to use the ATM's again, with your no fee cards. XE. Com reports the rate as of writing this at 1795 to 1. Cambio's I called yesterday were 1740 to 1 (Santa fee) .1750 to 1 (Monterray mall, my favorite). Anyone who tracks the peso knows sometimes the cambios give a better rate then the real exchange for various reasons. When they all re-opened after the holiday they all dropped there rates by 50-60 pesos per dollar. This is dramatic. One other comment about using a no fee card that pays back the ATM fee. You must use a bank ATM that clearly shows the bank ATM fee from the transaction, throughout Colombia most ATM's hide the fee inside the transaction. For example citibank ATM's seperate the fee from the transaction, no other machine comes to mind here that does this.

MiamiHeatLuver
05-17-12, 17:50
US DOLLAR-COLOMBIAN PESO Exchange 1, 809. 4000 +15. 5000 +0. 86% 12:38:38 and rising! .

BrasilSoccer0
05-17-12, 23:37
I've always used ATM. Never a lower rate than the best cambio rate.

Bango Cheito
05-19-12, 05:49
US DOLLAR-COLOMBIAN PESO Exchange 1, 809. 4000 +15. 5000 +0. 86% 12:38:38 and rising! .FUCK. Why does this ALWAYS happen right before I go up to the US? GOD DAMMIT!

Hioctane
05-20-12, 14:06
This is a heads up, yesterday all Cambio's lowered there rates dramatically on dollars to pesos. In fact it's now time to use the ATM's again, with your no fee cards. XE. Com reports the rate as of writing this at 1795 to 1. Cambio's I called yesterday were 1740 to 1 (Santa fee) .1750 to 1 (Monterray mall, my favorite). Anyone who tracks the peso knows sometimes the cambios give a better rate then the real exchange for various reasons. When they all re-opened after the holiday they all dropped there rates by 50-60 pesos per dollar. This is dramatic. One other comment about using a no fee card that pays back the ATM fee. You must use a bank ATM that clearly shows the bank ATM fee from the transaction, throughout Colombia most ATM's hide the fee inside the transaction. For example citibank ATM's seperate the fee from the transaction, no other machine comes to mind here that does this.It doesn't matter if banks hide the fee or not. Just convert the money you received from the ATM with XE to see what exchange rate you are getting after fees (if the bank pays back the ATM fee subtract that first).

Hioctane
05-20-12, 14:07
US DOLLAR-COLOMBIAN PESO Exchange 1, 809. 4000 +15. 5000 +0. 86% 12:38:38 and rising! .For the first time it is rising when I go to Colombia!

MiamiHeatLuver
05-22-12, 17:27
Just wishful thinking I bet though!

USD-COP 1, 826. 0000 +3. 1000 +0. 17% 12:15:03

Ezyngo
06-19-12, 22:35
Today, June 19, 2012, 1850 pesos per 1 dollar at the airport at the exchange place opposite Copa Airlines check-in counter upstairs, departure level.

Cheers.

SlamCity7777
07-23-12, 15:14
Well it's the cold hard truth! I'm getting fat! Cracked my ATM card and this is my usual means to get out cash. I'd rather not do cash advances on my CC for obvious reasons. In Medellin hwere is a good spot to cash loot that offers fair rates?

Please advise! I don't have time to use the Search feature. The info will be dated as it seems most of the posts here are about rates and clearly thosse change day to day.

Thanks!

MiamiHeatLuver
07-23-12, 18:29
Well it's the cold hard truth! I'm getting fat! Cracked my ATM card and this is my usual means to get out cash. I'd rather not do cash advances on my CC for obvious reasons. In Medellin hwere is a good spot to cash loot that offers fair rates?

Please advise! I don't have time to use the Search feature. The info will be dated as it seems most of the posts here are about rates and clearly thosse change day to day.

Thanks!Very good rates at premium plaza bro! As soon as you walk in on the right hand side alcove! I checked like 5 places and this was the best one between, PL, OVIEDO, TESORO, SANTE FE, you need your passport though! No passport? Use the one in parque lleras!

Here you go! http://www.mercadolibrededivisas.com/ Call to get todays rate!!

Some guy wrote he was getting like 1850 IN THE AIRPORT though, you're not going to go to rio negro just to find out lol

MiamiHeatLuver
07-23-12, 20:54
santos urges colombian central bank to consider rate cut.

by matthew bristow. jul 23, 2012 1:00 am et.

colombia's central bank should consider cutting interest rates after recent data show the economy losing speed, president juan manuel santos said.

policy makers should also step up their purchases of dollars, santos said in a july 20 speech to mark colombian independence day.

'i have asked the central bank to study a cut in interest rates, and evaluate a more aggressive purchase of dollars to increase our international reserves, ' santos said. 'this will also help us confront the phenomenon of revaluation. '

the government is worried by signs that the economy is slowing, even though growth remains faster than the world average, santos said. industrial output fell for a third straight month in may on a year-on-year basis, the national statistics agency said last week.

fourteen economists surveyed by bloomberg forecast that the central bank will hold its benchmark interest rate at 5. 25 percent at its july 27 policy meeting, while six analysts forecast a quarter-point cut.

colombia raised its benchmark rate nine times in the year through february, bucking a global trend for lower borrowing costs. the bank last cut rates in april 2010.

the colombian peso has appreciated 8. 9 percent this year, the biggest gain of 170 currencies tracked by bloomberg.

colombia's central bank has often ignored suggestions from santos and his predecessor, former president alvaro uribe. last month, policy makers kept their daily dollar purchases unchanged at $20 million, even after santos met with bank chief jose dario uribe and other board members and urged them to increase the amount.

in january, the central bank raised its benchmark interest rate a quarter point, after santos had said such a move wouldn't be 'appropriate. '

Hanshin Baka
07-31-12, 03:31
1710 today at the cambios. Wow, I had hoped only the prepagos were screwing me.

Woodman09
07-31-12, 07:54
1710 today at the cambios. Wow, I had hoped only the prepagos were screwing me.Damn- that's pretty low! Try the cambios near Museo de Oro for better rate. That's Centro.

In Chapinero- theres some good ones near Gallerias.

Way North- Centro Comercio Santa Barbara.

Best ATM deal I've found DaviVienda bank 720 mil at daily rate +$5

MiamiHeatLuver
08-02-12, 15:57
1710 today at the cambios. Wow, I had hoped only the prepagos were screwing me.That is real BS considering the $ is almost approaching 1800. This place publishes online rates and is paying 1770 right now!

http://www.mercadolibrededivisas.com/

Reefski
08-04-12, 01:55
There's been some talk here of the ATM scams that seem to be gaining popularity lately. I thought I'd post some photos of what one style of phony keypad looks like.

Reef

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Superboy1
08-04-12, 19:36
There's been some talk here of the ATM scams that seem to be gaining popularity lately. I thought I'd post some photos of what one style of phony keypad looks like.

ReefI am off to Colombia in 2weeks time, thanks for the info and pics, will look out for that.

MiamiHeatLuver
08-17-12, 17:16
US DOLLAR-COLOMBIAN PESO Exchange Rate Add to Portfolio.

USD-COP 1, 823. 4100 Price of 1 USD in COP 3. 8100 0. 21%

As of 12:11:53 ET on 08/17/2012.

Bbrocs
01-16-13, 15:23
As of Today the official rate is 1760 to 1. Monterray Cambio is 1790 to 1. Cambio is slightly ahead of the ATM rate for money changing.

If the rate stays at 1760, the cambio will come down closer to the 1760 figure, so change what you can now. The peso never did what it usually does in December go to 1940 to 1. I never saw December go higher then 1850, and that was during the first week of December.

I think it's going to cost more to come to Colombia this year. I believe you might see you paying 10% more on hard goods and services, combination of a little inflation and the dollar continued slip to the peso.

Rents, I see a increase in Administration fee's and utilities continue to rise. I see one of the biggest rental houses add a cleaning fee to every rental for 2013 and a 3% booking fee regardless if cash is paid or not. I do not blame them, price of doing it here has gone up. Something to consider when booking. It's been increasingly hard to find a furnished monthly place here. Good rentals do not want to give up short term money, because the demand out paces the amount of good places. That number changes all the time with buildings putting a end to short term rentals after a incident at the rental. But in the same breath new places replace trouble places every month. I can tell this from how many new VRBO ad's are out there, and how that number grew from 7 listings, when I first started.

Places like Alianza Valores will help you get money into Colombia legally. You can deposit money into citibank NY, and they buy it at market rate. Their commission. Then once here you can open a CD rates right now are between 4. 5.6. If you need money from your account you can request a check and cash it at banco Colombia. They have a office on Las Vegas Blvd in Medellin, and a office in Bogota, that I know about.

I am projecting more visitors to Colombia, with Jetblue rolling out service in the summer, more competition will provide better prices on airfare(fingers crossed.)

With me, I have not raised rates this year on apartments. Hoping not to have to.

Kelso1
01-16-13, 15:49
As of Today the official rate is 1760 to 1. Monterray Cambio is 1790 to 1. Cambio is slightly ahead of the ATM rate for money changing.

If the rate stays at 1760, the cambio will come down closer to the 1760 figure, so change what you can now. The peso never did what it usually does in December go to 1940 to 1. I never saw December go higher then 1850, and that was during the first week of December.

I think it's going to cost more to come to Colombia this year. I believe you might see you paying 10% more on hard goods and services, combination of a little inflation and the dollar continued slip to the peso.

Rents, I see a increase in Administration fee's and utilities continue to rise. I see one of the biggest rental houses add a cleaning fee to every rental for 2013 and a 3% booking fee regardless if cash is paid or not. I do not blame them, price of doing it here has gone up. Something to consider when booking. It's been increasingly hard to find a furnished monthly place here. Good rentals do not want to give up short term money, because the demand out paces the amount of good places. That number changes all the time with buildings putting a end to short term rentals after a incident at the rental. But in the same breath new places replace trouble places every month. I can tell this from how many new VRBO ad's are out there, and how that number grew from 7 listings, when I first started.

Places like Alianza Valores will help you get money into Colombia legally. You can deposit money into citibank NY, and they buy it at market rate. Their commission. Then once here you can open a CD rates right now are between 4. 5.6. If you need money from your account you can request a check and cash it at banco Colombia. They have a office on Las Vegas Blvd in Medellin, and a office in Bogota, that I know about.

I am projecting more visitors to Colombia, with Jetblue rolling out service in the summer, more competition will provide better prices on airfare (fingers crossed.)

With me, I have not raised rates this year on apartments. Hoping not to have to.Yes your right. It is murder here now. Not only has the dollar been very weak, but all prices are up. A few examples. Bus from airport is now 7K, Shared taxi from airport to just outside the city is now 15K instad of 12, 500, Metro is now 1800. The hotel I'm staying is now 48K up from 44k.

So you get hit from both sides. One the malo dollar, and then Colombian inflation.

Almotu
01-16-13, 19:06
As of Today the official rate is 1760 to 1. Monterrey Cambio is 1790 to 1. Cambio is slightly ahead of the ATM rate for money changing.

If the rate stays at 1760, the cambio will come down closer to the 1760 figure, so change what you can now. The peso never did what it usually does in December go to 1940 to 1. I never saw December go higher then 1850, and that was during the first week of December.This official rate is the TRM right? I was looking for a place that can exchange a decent amount of USD for my next trip, are you saying you recommend a cambio located in the C. C. Monterrey? Do they require certain types of bills (ie. $100 bills dated 2005 or newer, etc) and do they require you to bring your passport or would a copy do the trick?

Appreciate any current info you have about this.

Bbrocs
01-16-13, 19:23
This official rate is the TRM right? I was looking for a place that can exchange a decent amount of USD for my next trip, are you saying you recommend a cambio located in the C. C. Monterrey? Do they require certain types of bills (ie. $100 bills dated 2005 or newer, etc) and do they require you to bring your passport or would a copy do the trick?

Appreciate any current info you have about this.Yes TRM, anything big might require a drivers license or a passport to change.

I like changing money at monterray. There rates are good. But with that said we call like 4 places when I am changing 1, 000 or more dollars. We call Alianza cambio. This is not Alianza Valores. It's a cambio by exito in the san juan area.

We check the two cambios in poblado. The fourth is a whole in the wall in envigado.

No you don't have to worry about types of bills. I would not bring any ripped or torn bills to them.

I recommend cambio as of today it see-saws regularly here between ATM and a schwab card or a preferred card or credit union card and cambios. When it changes massively in any direction I try to give the heads up right here.

Listen on less then 300 it's small amount. But on larger transactions its a big difference. Could mean 60. 000. 90. 000 pesos in your favor by knowing what's best on exchange of $1, 000 dollars

SavePros321
01-16-13, 23:28
As of Today the official rate is 1760 to 1. Monterray Cambio is 1790 to 1. Cambio is slightly ahead of the ATM rate for money changing.

If the rate stays at 1760, the cambio will come down closer to the 1760 figure, so change what you can now. The peso never did what it usually does in December go to 1940 to 1. I never saw December go higher then 1850, and that was during the first week of December.

I think it's going to cost more to come to Colombia this year. I believe you might see you paying 10% more on hard goods and services, combination of a little inflation and the dollar continued slip to the peso.

Rents, I see a increase in Administration fee's and utilities continue to rise. I see one of the biggest rental houses add a cleaning fee to every rental for 2013 and a 3% booking fee regardless if cash is paid or not. I do not blame them, price of doing it here has gone up. Something to consider when booking. It's been increasingly hard to find a furnished monthly place here. Good rentals do not want to give up short term money, because the demand out paces the amount of good places. That number changes all the time with buildings putting a end to short term rentals after a incident at the rental. But in the same breath new places replace trouble places every month. I can tell this from how many new VRBO ad's are out there, and how that number grew from 7 listings, when I first started.

Places like Alianza Valores will help you get money into Colombia legally. You can deposit money into citibank NY, and they buy it at market rate. Their commission. Then once here you can open a CD rates right now are between 4. 5.6. If you need money from your account you can request a check and cash it at banco Colombia. They have a office on Las Vegas Blvd in Medellin, and a office in Bogota, that I know about.

I am projecting more visitors to Colombia, with Jetblue rolling out service in the summer, more competition will provide better prices on airfare (fingers crossed.)

With me, I have not raised rates this year on apartments. Hoping not to have to.Thank you for sharing this info Bbrocs.

Almotu
01-17-13, 02:41
Yes TRM, anything big might require a drivers license or a passport to change.

I like changing money at monterray. There rates are good. But with that said we call like 4 places when I am changing 1, 000 or more dollars. We call Alianza cambio. This is not Alianza Valores. It's a cambio by exito in the san juan area.

We check the two cambios in poblado. The fourth is a whole in the wall in envigado.So which of these 4 gave the best rate? If you have addresses and phone numbers, that would be great as well. I remember trying to exchange money at the cambio in C. C. Oviedo. It was like 'pulling teeth', they were sooooo slow & the rate was horrible.

SlamCity7777
02-15-13, 16:37
Fellas, I always have a Plan B for money, either a cash reserve or credit card. My last two trips to Colombia I've used my Plan B as my new Plan A!

My ATM card charges me 4% of the total transaction (They buried this nugget of information on my statement. My fault for being lazy all these years0 plus $6 flat fee. For a $700K COP with drawl it's running me $18-$22 a pop! You can get a great BJ for that in Colombia! Hahaha.

I've switched to a Paypal Debit card. Sign up for a PP account, assign a bank account, and transfer money to your PP. Then use the PP Master Card and they charge you a flat $1 fee! You can adjust your limits and stuff on line and it's free to move money to your PP from your checking.

I do not work for Mastercard or Pay pal! Hahaha! It's just a good way to go IMO.

Four ATM with drawls at $20 a pop is $80. With PPMC it's $4 USD! I'm not a cheap guy but that is a MAJOR savings!

Bbrocs
02-15-13, 17:57
Siam I agree PayPal is good, but schwab is better.

Schwab-no min, no monthly fee, same as PayPal.

Schwab- no dollar surcharge to withdraw, in fact if you use a ATM that has a ATM fee it gets refunded back at end of month. Lots of ATM in South America hide the fee inside transaction. So use citibank or BBVA. PayPal doesn't.

No foreign transaction percentage. Both PayPal and schwab same.

Max withdraw PayPal $400. Max withdraw schwab. Who knows but you can take out over a million pesos.

Funding account. Both PayPal and schwab allow you through the app to photo a check and make a deposit. But schwab it takes just a day or two. PayPal takes a week. You can also ACH the money through your bank. If your In New York you can deposit a check at a schwab branch through brokerage and xfer it into checking.

I lost my schwab card in colombia and they fed x it to me free of charge. PayPal will not.

Schwab great customer service via telephone.

Schwab no incoming wire fee. Outgoing fee for wire $25.

I do not work for either company and I use them both a lot everywhere.

I am cheap with myself


Fellas, I always have a Plan B for money, either a cash reserve or credit card. My last two trips to Colombia I've used my Plan B as my new Plan A!

My ATM card charges me 4% of the total transaction (They buried this nugget of information on my statement. My fault for being lazy all these years0 plus $6 flat fee. For a $700K COP with drawl it's running me $18-$22 a pop! You can get a great BJ for that in Colombia! Hahaha.

I've switched to a Paypal Debit card. Sign up for a PP account, assign a bank account, and transfer money to your PP. Then use the PP Master Card and they charge you a flat $1 fee! You can adjust your limits and stuff on line and it's free to move money to your PP from your checking.

I do not work for Mastercard or Pay pal! Hahaha! It's just a good way to go IMO.

Four ATM with drawls at $20 a pop is $80. With PPMC it's $4 USD! I'm not a cheap guy but that is a MAJOR savings!

SlamCity7777
02-16-13, 17:47
Hahah! We both should be pitch men for Mongering Money needs and services!

The customer service sounds amazing! That is always nice to have in your back pocket. One question; Schwab is a real bank right? So signing up for an account is a more involved process than just clicking "Sign Up" and filling in your checking account number?

If you have to go down to a Schwab branch and if there isn't one near your house, ect. Paypal is like 5 min to click up and sign up, then sign up for the card and then wait till it shows up and you're off and running.

Useful info on the Medeillin board! Somebody call El Tiempo! LOL!


Siam I agree PayPal is good, but schwab is better.

Schwab-no min, no monthly fee, same as PayPal.

Schwab- no dollar surcharge to withdraw, in fact if you use a ATM that has a ATM fee it gets refunded back at end of month. Lots of ATM in South America hide the fee inside transaction. So use citibank or BBVA. PayPal doesn't.

No foreign transaction percentage. Both PayPal and schwab same.

Max withdraw PayPal $400. Max withdraw schwab. Who knows but you can take out over a million pesos.

Funding account. Both PayPal and schwab allow you through the app to photo a check and make a deposit. But schwab it takes just a day or two. PayPal takes a week. You can also ACH the money through your bank. If your In New York you can deposit a check at a schwab branch through brokerage and xfer it into checking.

I lost my schwab card in Colombia and they fed x it to me free of charge. PayPal will not.

Schwab great customer service via telephone.

Schwab no incoming wire fee. Outgoing fee for wire $25.

I do not work for either company and I use them both a lot everywhere.

I am cheap with myself

Ezyngo
02-16-13, 19:06
but schwab is better.

Schwab-no min, no monthly fee, same as PayPal.

Schwab- no dollar surcharge to withdraw, in fact if you use a ATM that has a ATM fee it gets refunded back at end of month. Lots of ATM in South America hide the fee inside transaction. So use citibank or BBVA. PayPal doesn't.Are you talking about a credit card with Schwab? I know for sure it does not have / offer credit card service. Please elaborate. It sounds like an excellent deal.

Thanks.

Bbrocs
02-16-13, 19:14
Are you talking about a credit card with Schwab? I know for sure it does not have / offer credit card service. Please elaborate. It sounds like an excellent deal.

Thanks.No I am not talking about a credit card. Did you go look at there site? Because all the info is on their site?

When you open a brokerage account with schwab, it also opens a checking account. You do not need to fund or use the brokerage account. The winner is the checking account. You fund it and request a debit card. Your then all set. They make you open a brokerage account no way around it but you do not need to use.

Hope that helps

Bbrocs
02-16-13, 19:29
Hahah! We both should be pitch men for Mongering Money needs and services!

The customer service sounds amazing! That is always nice to have in your back pocket. One question; Schwab is a real bank right? So signing up for an account is a more involved process than just clicking "Sign Up" and filling in your checking account number?

If you have to go down to a Schwab branch and if there isn't one near your house, ect. Paypal is like 5 min to click up and sign up, then sign up for the card and then wait till it shows up and you're off and running.

Useful info on the Medeillin board! Somebody call El Tiempo! LOL!Its more of a real bank then Paypal. You can write checks, and do wires, and pay bills. No the process for paypal set up and schwab are the same time, same amount of easy to do. In both cases you have to request a debit card. Just with schwab everything takes a form and to fax it back.

It's the same set up for both basically. But the customer service for schwab is light years better then paypal. It is even tough to find paypal's phone number if you need them.

Schwab also gives a bit of interest on money sitting in schwab checking. Paypal cut that out.

You never need to walk into a schwab branch for anything. Everything can be done online, via phone, or through the app. Depositing checks via the phone app is awesome.

My favorite part is when I look on the 1st of the month and I see schwab has put 30+ dollars back into my account from atm fee's. Priceless.

This site has taken on more needs then just mongering. It's a lifestyle. Getting more bang for your buck is part of that.

Hioctane
02-24-13, 22:07
I have been touting Schwab for years. It's awesome. BTW, do you have problems with Banco Colombia? It is the only bank which I cannot get the card to work at.


Its more of a real bank then Paypal. You can write checks, and do wires, and pay bills. No the process for paypal set up and schwab are the same time, same amount of easy to do. In both cases you have to request a debit card. Just with schwab everything takes a form and to fax it back.

It's the same set up for both basically. But the customer service for schwab is light years better then paypal. It is even tough to find paypal's phone number if you need them.

Schwab also gives a bit of interest on money sitting in schwab checking. Paypal cut that out.

You never need to walk into a schwab branch for anything. Everything can be done online, via phone, or through the app. Depositing checks via the phone app is awesome.

My favorite part is when I look on the 1st of the month and I see schwab has put 30+ dollars back into my account from atm fee's. Priceless.

This site has taken on more needs then just mongering. It's a lifestyle. Getting more bang for your buck is part of that.

Bbrocs
02-25-13, 01:48
I have been touting Schwab for years. It's awesome. BTW, do you have problems with Banco Colombia? It is the only bank which I cannot get the card to work at.Hi I don't use banco Colombia ATM with Schwab. It embeds the ATM fee in transaction so you won't get fee refunded. Stick to Citibank and BBVA. Also the ATM at occidente it's green ATM that are in other locations. Use ATMs that show you that your going to pay a fee so schwab will refund on 1st of every month. I don't like banco Colombia. They sometimes give lots if cirius based cards problems.

BB

Vitrea
03-06-13, 07:52
Bbrocs,

Thank you for excellent info on Schwab. That is my fav bank as well, especially for international travel. In Europe, their ATM card allows you to draw 500 euros at a time.

For guys planning on using it, know that international wires cannot be done from Checking account. The debit card / ATM uses funds from checking or savings account but if you need to wire, you need to move funds to the brokerage account first. Not a big deal but other banks (say Wells Fargo) allow you to do international wires from checking or savings.

Vegas Jeff
05-06-13, 07:43
If you are going to be spending significant time in Medellin and are traveling from the states consider opening an account with Citibank in the States. There are many Citibank locations throughout Medellin. Put the funds you need in your Citibank account in the States and withdraw it out in Medellin. If you have a GOLD account. 25k or something like that, withdraws are free. Or you can do as I do and ask the person in the bank to switch your account for 90 days once a year to GOLD and they might. I find the customer service with the branch I use in the states to be very good.

In Poblado, where many of you may be staying, there is a branch next to the Oviedo Mall. It is a short walk from The Mansion. The limit per day for withdraws is $1000 and the exchange rate is competitive. I have no reference point to other banks in Medellin. I just thought I would pass on my experience with Citibank.

Bbrocs
05-06-13, 17:34
If you are going to be spending significant time in Medellin and are traveling from the states consider opening an account with Citibank in the States. There are many Citibank locations throughout Medellin. Put the funds you need in your Citibank account in the States and withdraw it out in Medellin. If you have a GOLD account. 25k or something like that, withdraws are free. Or you can do as I do and ask the person in the bank to switch your account for 90 days once a year to GOLD and they might. I find the customer service with the branch I use in the states to be very good.

In Poblado, where many of you may be staying, there is a branch next to the Oviedo Mall. It is a short walk from The Mansion. The limit per day for withdraws is $1000 and the exchange rate is competitive. I have no reference point to other banks in Medellin. I just thought I would pass on my experience with Citibank.Hi VJ,

Your right if your rich Citibank gold is a great choice, so is all the private versions of big banking in the USA. BUT for the average folk who don't have 25K just sitting in checking. Schwab is the best, there is no equal I being willing to try something new. But with its no min, xfer via check from your regular bank to them in one day including weekends using a iPhone app to deposit your check. No foreign transaction. 1 million pesos withdraw. ATM reimbursement. I am looking for a better deal but can not find, plus very good customer service. I do not work for them. I am just a happy client.

Right now TRM is 1833 to 1. One of highest I seen in a long time. Medellin is on 12% discount to you with dollars from 5 months ago. Highest cambio I seen is 1810 to 1. Making the schwab card the way to go for pulling money out as of today. But remember its a see-saw. When they need more dollars the cambio will go up and sometimes pass the TRM.

Vegas Jeff
05-06-13, 22:54
Hi VJ,

Your right if your rich Citibank gold is a great choice, so is all the private versions of big banking in the USA. BUT for the average folk who don't have 25K just sitting in checking. Schwab is the best, there is no equal I being willing to try something new. But with its no min, xfer via check from your regular bank to them in one day including weekends using a iPhone app to deposit your check. No foreign transaction. 1 million pesos withdraw. ATM reimbursement. I am looking for a better deal but can not find, plus very good customer service. I do not work for them. I am just a happy client.

Right now TRM is 1833 to 1. One of highest I seen in a long time. Medellin is on 12% discount to you with dollars from 5 months ago. Highest cambio I seen is 1810 to 1. Making the schwab card the way to go for pulling money out as of today. But remember its a see-saw. When they need more dollars the cambio will go up and sometimes pass the TRM.Good to hear of another good banking option. I did not even know that Schwab was in Medellin before reading this thread. Citibank's 1. 8 million pesos per day withdraw limit is the most important thing for me. That is almost double Schwab's and equals half the trips to the bank. You say that Schwab's exchange rate is high as well as other advantages which is important. I am not sure how Citibank compares. I am in Medellin for 5 months per year. 3 months in the summer and two other one month trips. I do not have a Gold account either but for the third year my bank has switched me to Gold for the summer at no charge. The other two trips I bring a little more on the plane and pay the withdraw fee for the few extra withdraws I make.

Hioctane
05-07-13, 06:22
Hi VJ,

Your right if your rich Citibank gold is a great choice, so is all the private versions of big banking in the USA. BUT for the average folk who don't have 25K just sitting in checking. Schwab is the best, there is no equal I being willing to try something new. But with its no min, xfer via check from your regular bank to them in one day including weekends using a iPhone app to deposit your check. No foreign transaction. 1 million pesos withdraw. ATM reimbursement. I am looking for a better deal but can not find, plus very good customer service. I do not work for them. I am just a happy client.

Right now TRM is 1833 to 1. One of highest I seen in a long time. Medellin is on 12% discount to you with dollars from 5 months ago. Highest cambio I seen is 1810 to 1. Making the schwab card the way to go for pulling money out as of today. But remember its a see-saw. When they need more dollars the cambio will go up and sometimes pass the TRM.Yep. Schwab is my bank of choice too. Got to love the ATM refunds!

Citibank is the WORSE for the average joe. Even though they have Citibanks everywhere they charge 3% on top of the ATM fee. I have an account too. If you can afford a Gold account, practically every bank will waive fees.

Bbrocs
05-07-13, 19:37
Good to hear of another good banking option. I did not even know that Schwab was in Medellin before reading this thread. Citibank's 1. 8 million pesos per day withdraw limit is the most important thing for me. That is almost double Schwab's and equals half the trips to the bank. You say that Schwab's exchange rate is high as well as other advantages which is important. I am not sure how Citibank compares. I am in Medellin for 5 months per year. 3 months in the summer and two other one month trips. I do not have a Gold account either but for the third year my bank has switched me to Gold for the summer at no charge. The other two trips I bring a little more on the plane and pay the withdraw fee for the few extra withdraws I make.Hi again VJ,

Schwab does not have a office in Medellin. But since they reimburse ATM fee's it's the same as using a local branch.

I said they do a million pesos, they might do even more I never tried to retrieve more then this at any one time. I bet if you spoke to customer service they would allow you to pull 2 million pesos or tell you there max withdraw.

This free card would make a great add on to your arsenal of travel accounts over the months where citi gold wasn't on.

For you married guys that don't want a record, bluebird card from Walmart. You get a temporary from Walmart for $5 dollars. Load cash on it at register. Take card with you to Medellin. Do this right before you leave for a trip. I think you have up to 14 to register with the company to receive the normal card. But while its no name they don't track. So spend and withdraw. Destroy the card before you return and empty it out. Next trip wash repeat. Never register the card.

Hioctane
05-08-13, 01:05
Hi again VJ,

Schwab does not have a office in Medellin. But since they reimburse ATM fee's it's the same as using a local branch.

I said they do a million pesos, they might do even more I never tried to retrieve more then this at any one time. I bet if you spoke to customer service they would allow you to pull 2 million pesos or tell you there max withdraw.

This free card would make a great add on to your arsenal of travel accounts over the months where citi gold wasn't on.

For you married guys that don't want a record, bluebird card from Walmart. You get a temporary from Walmart for $5 dollars. Load cash on it at register. Take card with you to Medellin. Do this right before you leave for a trip. I think you have up to 14 to register with the company to receive the normal card. But while its no name they don't track. So spend and withdraw. Destroy the card before you return and empty it out. Next trip wash repeat. Never register the card.I have been using Amex Prepaid. It looks very similar to bluebird, but the free in network ATM withdrawals is better with bluebird. Also, Amex Prepaid is limited to Banco Colombia ATMs. How wide is the MoneyPass network in Colombia?

BTW for all the WU guys. Prepaid is a way better option than WU!

Bbrocs
05-09-13, 06:35
Hi all, I get a lot of questions. But best money one is Hey I have just dollars and it's Sunday and all the cambio's and banks are closed what do I do?

Well several things, can you use a different ATM card to get you through the weekend?

Has the Cambios at Oveido and Santa fe closed?

You say yes to all of the above all you have is your credit card. Well no fear take your credit card to Allegre Casino on top of Premium Plaza Mall. Take your credit card and passport and proceed to the cage. Tell them you want 100, 000, or 200, 000 or even 500, 000. They will give you a cash advance and not charge you a dime for it. In most casinos they would then give you chips. Here they give you cash your free to walk right out the door. In a pinch this is great to know. If your card has points you will get the cash and the points. If its counted as a cash advance paying it back that very month wipes away most of the charges. You can even talk to your credit card company explain you were in a tight spot. They want you as a customer they will work with you and you still get the points.

Not only that have you seen both the girls that walk around in PP mall and San Diego? Wow.

SO if your out of cash due to a problem or over spending I never thought going to a casino to make a withdraw would work but it will for now.

Manizales911
05-09-13, 14:59
Hi all, I get a lot of questions. But best money one is Hey I have just dollars and it's Sunday and all the cambio's and banks are closed what do I do?

Well several things, can you use a different ATM card to get you through the weekend?

Has the Cambios at Oveido and Santa fe closed?

You say yes to all of the above all you have is your credit card. Well no fear take your credit card to Allegre Casino on top of Premium Plaza Mall. Take your credit card and passport and proceed to the cage. Tell them you want 100, 000, or 200, 000 or even 500, 000. They will give you a cash advance and not charge you a dime for it. In most casinos they would then give you chips. Here they give you cash your free to walk right out the door. In a pinch this is great to know. If your card has points you will get the cash and the points. If its counted as a cash advance paying it back that very month wipes away most of the charges. You can even talk to your credit card company explain you were in a tight spot. They want you as a customer they will work with you and you still get the points.

Not only that have you seen both the girls that walk around in PP mall and San Diego? Wow.

SO if your out of cash due to a problem or over spending I never thought going to a casino to make a withdraw would work but it will for now.Good advise and it is good for other destinations as well. I have gone to casinos and gotten chips and turned right around and cashed them out simply due to the great exchange rate most casinos give when paying with dollars.

Bbrocs
05-10-13, 16:53
Good advise and it is good for other destinations as well. I have gone to casinos and gotten chips and turned right around and cashed them out simply due to the great exchange rate most casinos give when paying with dollars.I tested it out, here was the results.

So.

200,000 pesos taken from my credit card in Allegre casino Medellin Colombia.

Bank says that was $109 dollars or a exchange rate of 1834.86 to 1. (very good its the exact TRM as of 5/10/13)

Fee for cash advance $2.34 by bank, or what any normal ATM in america charges these days.

This is not a country to run out of money in, and sometimes people come in with dollars and expect that will be changed no problem.

Here in Colombia no one takes dollars for payments unlike Peru where the cash register is set to take Sols or Dollars for transactions.

TheShadow2
05-11-13, 03:02
Good to hear of another good banking option. I did not even know that Schwab was in Medellin before reading this thread. Citibank's 1. 8 million pesos per day withdraw limit is the most important thing for me. That is almost double Schwab's and equals half the trips to the bank. You say that Schwab's exchange rate is high as well as other advantages which is important. I am not sure how Citibank compares. I am in Medellin for 5 months per year. 3 months in the summer and two other one month trips. I do not have a Gold account either but for the third year my bank has switched me to Gold for the summer at no charge. The other two trips I bring a little more on the plane and pay the withdraw fee for the few extra withdraws I make.Actually Schwab's limit is 1000 dollars US.

Vegas Jeff
05-11-13, 11:14
Yep. Schwab is my bank of choice too. Got to love the ATM refunds!

Citibank is the WORSE for the average joe. Even though they have Citibanks everywhere they charge 3% on top of the ATM fee. I have an account too. If you can afford a Gold account, practically every bank will waive fees.I went to the bank in the US and got all the details for Citibank. You are correct about the 3% plus the ATM withdraw fee. This is a pretty steep price to pay for money.

Citigold account has many advantages if you have 50k. 2k per day withdraw limit. No fees.

I do not have a Citigold account. As I stated before, in my previous post, the person at my bank gives me 90 days of Citigold at no charge and I eat the fees for the few withdraws on the other trips.

Sounds like Schwab would be the best for most people. Put money in the account in the US. After fee reimbursement, take it out for free abroad.

HelpRules
05-14-13, 18:24
I don't us ATMs. I always go to cambios. When you withdraw money do you get the xe. Com rate? If you get that rate, and don't get the 3% fee waived, isn't it a horrible deal and you're better off bringing cash. It seems to me that going to cambios is the best unless you are loaded and can get all fees waived.

Hioctane
05-14-13, 22:49
I don't us ATMs. I always go to cambios. When you withdraw money do you get the xe. Com rate? If you get that rate, and don't get the 3% fee waived, isn't it a horrible deal and you're better off bringing cash. It seems to me that going to cambios is the best unless you are loaded and can get all fees waived.You get a lower rate. When was in Cartagena a couple of weeks ago my friends used cash and the Cambio exchange rate was about 1760 compared to the xe rate of 1810-1830.

With Schwab, there isn't even a minimum deposit if I recall.

Bbrocs
05-23-13, 15:47
Morning the TRM hits the high for the year here at 1863 to 1. Cambios can not react in time and are either 1810, 1815 to 1 at present time.

They all just opened for the day and I am following it. In the see-saw battle for the next couple of days until the cambios play catch up to the climbing TRM its wise to just use your schwab card. On a $100 the difference could mean another 6. 000 pesos. I know it's not huge but it's lunch.

In different news here. There are so many projects going up all over town that I noticed while staying at 3 places of mine the water pressure during the day is way down because there working constantly on feeding the new projects water and god knows what else is causing this. Two of my places I couldn't even flush the toilet for a few hours because not enough water pressure.

Property tax here has gone up in some cases over 30%, to cover all the new roads and bridges. Everyone is upset and are fighting it but I don't know if anything will come from this. They had a meeting in Park Poblado over it, just expect higher rental prices to offset the taxes.

Gringo tower and my casa loma are now lost for short term rentals. At my place I can no longer rent to single males. At gringo tower I think you can rent but they take photos of all girls coming in and you must supply security with a list of your guests coming on your first day there and there cedula numbers. A impossible task, and most people renting have just given up, losing 5-6, 3 bedroom rentals and possibly a 4 bedroom. People have been scrambling to re-book there July 4th trips which is one of the busiest times I seen since Madonna played here. I think I have one open spot for the dates.

Fake money is on the rise everywhere here so make sure you check your bills very carefully.

The metro gets there version of metro cards and you could load multi trips onto the card for there subway. I tested it out and its a pleasure not to have to stand online every time for those little slips of paper they used to use.

Rain, Rain Rain, wow has it been raining, roof damage by strong rains and even hail. Best to find someone during the day to keep busy with. Bring your umbrellas.

That's the Medellin Minute

Vegas Jeff
05-23-13, 17:01
Fake money is on the rise everywhere here so make sure you check your bills very carefully.Has anyone heard of a Medellin Cambios paying out fake bills? I was in Holland once and received a fake 50 Euro from a Cambio. I got rid of it by buying something in a convenience store.

I use Inter Dolar at the entrance to Lleras. Usually exchange 2k to 2. 5k. The never ask for ID.

Ezyngo
05-23-13, 18:00
Has anyone heard of a Medellin Cambios paying out fake bills?But not at a casa de cambio. I got one fake 50K bill a while back at one of the exchange booths upstairs at MJC in Rionegro. I did not know until one of the chicas I paid noticed it. So now I check every single bill more than 20K they give me. What did I go with that counterfeit bill you asked? I used it to pay a taxista.
Cheers.

Almotu
05-24-13, 16:56
How do you spot the fake bills. What are the tell tale signs? For the reloadable metro cards, do you pay in cash or does it have to be credit card?

Hioctane
05-25-13, 14:15
Dollar to peso spiked to 1882 yesterday. Wow the dollar is on a roll this year! Maybe it'll hit 2000 again!

Ezyngo
05-25-13, 22:45
Dollar to peso spiked to 1882 yesterday.Hope the exchange rate will be the same or higher when I get to MDE in about 2 weeks. I think this is an attempt to attract summer tourists.
BTW, if you want to know how to spot fake bills from legit bills, look and feel a regular paper then the real bills and you will see the difference. Also look to see if there are five shiny, golden small rectangles lined up almost in the middle, from top to bottom on a 20K bills, and 4 such marks on the 50K bills. Hope that helps. I do not care so much about lower-valued currency.
Cheers.

Vitrea
05-30-13, 06:29
USD is going crazy especially in relation to latin american currencies. 5% up against Brazilian Real.

Redsox911
06-16-13, 02:24
I have a decent amount of Brazlian Reais left over from my earlier trip this year and was wondering if there's any place to exchange it for COP's near the Mansion?

Any info would be appreciated!

Bbrocs
06-16-13, 05:03
I have a decent amount of Brazlian Reais left over from my earlier trip this year and was wondering if there's any place to exchange it for COP's near the Mansion?

Any info would be appreciated!Your best bet is upstairs at airport at the cambio. Not the downstairs one but upstairs.

The regular cambios only change euro, dollar, peso

The banks will change it but they will kill you on the rate.

So best bet after you arrive go upstairs with passport and change the reals.

Bbrocs
06-16-13, 05:24
How do you spot the fake bills. What are the tell tale signs? For the reloadable metro cards, do you pay in cash or does it have to be credit card?Metro card you pay cash. Just say cinco. It's 1. 800 a trip.

Then he hands you a white card. Look for the turnstile with the bigger slot.

The first 4 times you use card you lay it on top of the turnstile. It turns green you enter

The last trip your 5th you put card in slot machine takes back card and you enter.

The card is not reload-able. At least it isn't for visitors. I always just buy 5 trips at a time.

Redsox911
06-16-13, 06:03
Your best bet is upstairs at airport at the cambio. Not the downstairs one but upstairs.

The regular cambios only change euro, dollar, peso

The banks will change it but they will kill you on the rate.

So best bet after you arrive go upstairs with passport and change the reals.Big thanks Bbros! One other question. Do you think it will be open around 7pm at the airport?

Vegas Jeff
06-16-13, 07:09
I have a decent amount of Brazlian Reais left over from my earlier trip this year and was wondering if there's any place to exchange it for COP's near the Mansion?

Any info would be appreciated!Unicambios in the Oviedo Mall is an option. This mall is a short walk from the Mansion.

If you are going to be exchanging to Colombian Pesos the fee is about 3% at current rate. Go to their website the day before you travel and get the rate. Check the airport rate and compare.

Redsox911
06-16-13, 18:01
Unicambios in the Oviedo Mall is an option. This mall is a short walk from the Mansion.

If you are going to be exchanging to Colombian Pesos the fee is about 3% at current rate. Go to their website the day before you travel and get the rate. Check the airport rate and compare.Thank you Jeff, I appreciate it.

Almotu
06-19-13, 04:57
I have a decent amount of Brazlian Reais left over from my earlier trip this year and was wondering if there's any place to exchange it for COP's near the Mansion?

Any info would be appreciated!Unless you don't plan to go back to Brasil, I would keep the reais and get a fresh start by getting COP from the ATMs. I believe the exchange rate is better via ATM than a cambio in Medelllin to begin with unlike the abundance of cambio places in Copacabana geared to tourists. Since the cambio will have very little customers for your $Reais, the exchange rate will likely be brutal.

Manizales911
06-20-13, 15:17
Dollar rallied big time against the peso. 1934. 00.

SavePros321
06-20-13, 15:51
Dollar rallied big time against the peso. 1934. 00.As nice as that is, the stock market is also taking a huge shit, LOL. The Dow is currently down 138 points.

Dccpa
06-20-13, 21:06
As nice as that is, the stock market is also taking a huge shit, LOL. The Dow is currently down 138 points.Ended down 353 points. Address your thank you notes to Mr. Bernanke.

Manizales911
06-20-13, 22:42
As nice as that is, the stock market is also taking a huge shit, LOL. The Dow is currently down 138 points.Finished down 354 points, I rolled out of the market a while ago so I didn't feel it any."sell in May and go away" is a well known saying that I have always lived by. Tomorrow could be ugly.

Ezyngo
06-23-13, 23:45
Can you use a credit card to exchange for money?

Thanks.

Vitrea
06-24-13, 02:22
Can you use a credit card to exchange for money?

Thanks.No. You can't. You will have to make a cash advance. And then exchange it.

Mojo Bandit
07-01-13, 13:19
Can you use a credit card to exchange for money?

Thanks.The easiest thing to do would be get your PIN for your credit card and use it at an ATM, would save your the exchange fees because your bank that your credit card is from probably gets a better deal, but check the international fees I have read that they could be high

Bbrocs
07-01-13, 15:32
Can you use a credit card to exchange for money?

Thanks.You can do this at Alegre casino cage for a good rate. Don't need to gamble just hand them passport, credit card and tell them his much. Service they provide for gamblers.

Bango Cheito
07-02-13, 01:41
the easiest thing to do would be get your pin for your credit card and use it at an atm, would save your the exchange fees because your bank that your credit card is from probably gets a better deal, but check the international fees i have read that they could be highdo not do this, you will get ass raped! i recommend for emergency use only!

Kuttappan
07-04-13, 21:35
Hello Brothers,

I am visiting MDE for the first time in August. I will be staying at the Mansion Plaza 1 hotel from 08/25. 08/29. I am planning to transfer some funds over to my Capital One checking account and use the ATM in MDE. The account I have doesn't have any foreign exchange fees or ATM fees (Even if there is a 3% fee, I think using the ATM will give you the current best rate possible). I would like to know if there is any ATM that accepts Master Card near the Mansion hotel. Thank you.

SlamCity7777
07-05-13, 01:42
Hello Brothers,

I am visiting MDE for the first time in August. I will be staying at the Mansion Plaza 1 hotel from 08/25. 08/29. I am planning to transfer some funds over to my Capital One checking account and use the ATM in MDE. The account I have doesn't have any foreign exchange fees or ATM fees (Even if there is a 3% fee, I think using the ATM will give you the current best rate possible). I would like to know if there is any ATM that accepts Master Card near the Mansion hotel. Thank you.First let me say Gracias for putting this in the proper spot! Most joker will just post in the Medellin topic; there by making the topic muddier and harder to find useful information.

You should be able to use any ATM to get loot. I like Davienda (Some junk like that; it has a little cartoon house as it's logo) because they have a high $720K limit and usually have $50 notes. There are also several Daviendas nere the mansion, a large one next to La Strada / Burger King and one in Olviedo. If I'm correct in my thinking they are both 2-3 blocks either left or right at the bottom of the hill from Mansion 1.

Tell me more about this Capital One checking account. I just signed up for a Cap 1 card to use while I'm down there. My old Visa / MC or Amex cost me $3-$10 USD per transaction in FE Fees x everything = Big bucks! I use a Paypal bebit card for cash. $1 flat fee per transaction vs $6 flat fee + exchange from my bank. Only draw back is that there is a 4-5 day lag time from my home checking account to my PP account.

Kuttappan
07-06-13, 02:02
First let me say Gracias for putting this in the proper spot! Most joker will just post in the Medellin topic; there by making the topic muddier and harder to find useful information.

Tell me more about this Capital One checking account. I just signed up for a Cap 1 card to use while I'm down there. My old Visa / MC or Amex cost me $3-$10 USD per transaction in FE Fees x everything = Big bucks! I use a Paypal bebit card for cash. $1 flat fee per transaction vs $6 flat fee + exchange from my bank. Only draw back is that there is a 4-5 day lag time from my home checking account to my PP account.Thank you for your suggestion. I looked in to PayPal debit card and I couldn't find the $1 flat fee per transaction. I read the rules and reg for PP Debit card and it clearly states 2. 5% foreign exchange fee. I maybe reading it wrong. Please re-confirm with PayPal about their foreign exchange fees.

I was given an offer by Capital One bank a while back. It offered a free checking account with no minimum balance and $0 US and Non-US ATM charges along with 0% Foreign transaction fees. I jumped on it because I travel to India once a year for 3 weeks (I am Indian). I don't carry no more than $500 in dollar bills and I always use an ATM in India to take money out. Using the ATM is great because it will give you the current MARKET RATE. I didn't get any foreign exchange charges when I used the Capital One card. I also recommend schwab account. It does require you to open a Schwab brokerage account but doesn't require you to use it. I hope this was helpful.

Kuttappan
07-06-13, 02:08
PayPal Debit Card Fees.

ATM Withdrawal US $ 1. 00 Per ATM Withdrawal within US (Plus any amounts charged by the ATM owner.)

Signature Withdrawal $ 3. 00 Per Signature Withdrawal if a signature is required to obtain cash.

Non-US ATM Transaction (Using an ATM machine that is not in the US) 1%; Per withdrawal from a non-US ATM. This fee will apply even if the transaction does not require a currency conversion.

Non-US Debit Card Usage (Making a purchase from a seller that is not in the US) 1%; Per purchase from a non-US merchant. This fee will apply even if the transaction does not require a currency conversion.

Exchange Rate & Fee The currency exchange rate is determined by The Bancorp Bank based on the current market price and includes a 2. 5% Fee. This Fee is variable and only applies when The Bancorp Bank performs the currency conversion.Above is from PAYPAL USER AGREEMENT FOR THEIR DEBIT CARD.

SlamCity7777
07-06-13, 02:34
Above is from PAYPAL USER AGREEMENT FOR THEIR DEBIT CARD.Hmmm. I guess I should have read that a bit closer.

I don't know what to tell you. I have $250 (for example) hit $400COP on the ATM in Colombia clearly; and then go to my my transaction history and it shows the amount taken out of my account in USD (is their fee hidden in this notation?) plus $1. I have not noticed any 2. 4% FTF in my monthly statements. When I do use my regular debit card there is the $6 FTF and THEN the extra kick in the balls. ATM All I can say for sure is that it appears that Paypal is only taxing me the $1 flat fee. Maybe because I have not "confirmed" my bank account they can't just pull the extra loot out of my account they want to tax me?

SlamCity7777
07-06-13, 02:52
Thank you for your suggestion. I looked in to PayPal debit card and I couldn't find the $1 flat fee per transaction. I read the rules and reg for PP Debit card and it clearly states 2. 5% foreign exchange fee. I maybe reading it wrong. Please re-confirm with PayPal about their foreign exchange fees.

I was given an offer by Capital One bank a while back. It offered a free checking account with no minimum balance and $0 US and Non-US ATM charges along with 0% Foreign transaction fees. I jumped on it because I travel to India once a year for 3 weeks (I am Indian). I don't carry no more than $500 in dollar bills and I always use an ATM in India to take money out. Using the ATM is great because it will give you the current MARKET RATE. I didn't get any foreign exchange charges when I used the Capital One card. I also recommend schwab account. It does require you to open a Schwab brokerage account but doesn't require you to use it. I hope this was helpful.Thanks for this. I need to look into the Capital One Checking Account to use their ATM. Another member also has previously raved about the Schwab account. After the last two posts I did some digging and broke out the calculator. In my PP account when you see the ATM transaction you see the $1 fee clearly denoted and itemized. The FTF is NOT noted as such but imbedded in the total amount taken out. I have previously noted a slight variation but thought that due to the daily volatility of the COP vs USD. For example. I took out $720 COP from Davienda. I got the pasos and my PP count was deducted $377.23=$726, 167. 75, plus $1 in the fee. That's $6, 167.75 COP I didn't get ($3.31) My own fault. Odd thing another time I broke it down I was taxed an extra $8+.

My own fault for not reading the fine print. Still I can live with 1% plus $1 which is better than the $6 plus lord knows other fees my bank charges.

Muktar
07-06-13, 17:55
Just my 2 pesos. I have both the Schwab account (that refunds ATM fees) and Capital One / Platinum no foreign trx fee cards. I was recently in MDE (last month) and after arriving home, confirmed that the ATM rate was within fractions of the equivalent of the daily cambio rate (airport, Oviedo Mall, other) since I change at those and check their rates periodically. As to the Capital One credit card exchange rate was 1890 when the cambio was 1888-1889.

Both provide advantages to the user, the Schwab card refunds all ATM fees and the capital ONE (the correct card-there are many) also does not charge any foreign transaction fees.

The Schwab does require 2 accounts, a broker and a banking account. But that is probably for your protection since they transfer money almost immediately between them as an overdraft account or when you authorize it. I would suggest de-linking them for your own protection. For those who travel and keep a limited ATM account in the event of problems. Only upon proper request do you transfer money to the ATM account (debit account) so that you know your limits in the event of theft or duress.

Hope that helps.

SlamCity7777
07-08-13, 02:03
Just my 2 pesos. I have both the Schwab account (that refunds ATM fees) and Capital One / Platinum no foreign trx fee cards. I was recently in MDE (last month) and after arriving home, confirmed that the ATM rate was within fractions of the equivalent of the daily cambio rate (airport, Oviedo Mall, other) since I change at those and check their rates periodically. As to the Capital One credit card exchange rate was 1890 when the cambio was 1888-1889.

Both provide advantages to the user, the Schwab card refunds all ATM fees and the capital ONE (the correct card-there are many) also does not charge any foreign transaction fees...Thanks! I hope I never flame battle you! LOL.

So what about the Capital One 360 Checking account? Anybody have experience with this account and their ATM charges / fees and that sort of stuff. Paypal is ok, $1 and 1% is fine but I'd even be cool to save the 1. You know 1% of $388= $3 88 x 10 trips to the ATM in a month gets $$$$.

This has been the most informative thread on the Colombia board by far! LOL!

SavePros321
07-11-13, 16:16
Looks like the 1900+ COP ride may be coming to an end as the dollar weakened on account of Bernanke agreeing that pumping inflated dollars into the economy via QE (Quantative Easing) is still needed.

Ezyngo
07-28-13, 23:23
You can do this at Alegre casino cage for a good rate. Don't need to gamble just hand them passport, credit card and tell them his much. Service they provide for gamblers.Not sure I know where it is located.

Thanks.

Bbrocs
07-28-13, 23:51
Not sure I know where it is located.

Thanks.Top of premium plaza mall. Off avenida poblado. You can't miss it. In San Diego area

Closest metro stop is industrials.

Razor77
07-28-13, 23:52
I also do my homework before my Colombia trips to plan my exchange either here in the US or in Colombia. Just a few weeks ago it was like 1.9 and now it plunges drastically. I called my local exchange here in the US in Miami and they quoted me at 1.6 per dollar. I was pissed because I didn't know it had dropped that low. It's still better to take cash to Colombia and exchange upon arrival. The rates in the country are always better than in the US. For those that rather use an ATM be careful as you pay your bank an interest based on the amount. Useful info for new travelers.

TheShadow2
07-29-13, 03:28
I also do my homework before my Colombia trips to plan my exchange either here in the US or in Colombia. Just a few weeks ago it was like 1.9 and now it plunges drastically. I called my local exchange here in the US in Miami and they quoted me at 1.6 per dollar. I was pissed because I didn't know it had dropped that low. It's still better to take cash to Colombia and exchange upon arrival. The rates in the country are always better than in the US. For those that rather use an ATM be careful as you pay your bank an interest based on the amount. Useful info for new travelers.Ser tranquila mijo. It's still 1886 to a dollar, doublecheck your sources.

Artisttyp
07-29-13, 03:55
The rates in the country are always better than in the US. For those that rather use an ATM be careful as you pay your bank an interest based on the amount. Useful info for new travelers.I've read that you lose 3% to the cambios which is the same as using an ATM but you are spared the $5 international transaction fee. Can someone verify this for me? I've always been under the impression that bringing US dollars to Colombia is a waste of time minus a possible in cash discount for extended stays at hotels.

*This information of course is for people without a Charles Shwab or Capitol One card. I'm still not sold on either one.

Also do the customs guys at the airport still frisk passengers when they arrive? I believe they did this to me once. This worries me for obvious reasons. If you arrive with a lot of cash and they feel it on you that would be concerning.

Ezyngo
07-29-13, 04:43
Top of premium plaza mall. Off avenida poblado. You can't miss it. In San Diego area

Closest metro stop is industrials.I've seen it a few times going to the Premium Plaza with my chica / novia. I just could not remember what the name of that casino was. Thanks a again. I want to use it as an emergency.

Cheers.

TheShadow2
07-29-13, 12:58
I've read that you lose 3% to the cambios which is the same as using an ATM but you are spared the $5 international transaction fee. Can someone verify this for me? I've always been under the impression that bringing US dollars to Colombia is a waste of time minus a possible in cash discount for extended stays at hotels.

*This information of course is for people without a Charles Shwab or Capitol One card. I'm still not sold on either one.

Also do the customs guys at the airport still frisk passengers when they arrive? I believe they did this to me once. This worries me for obvious reasons. If you arrive with a lot of cash and they feel it on you that would be concerning.What's wrong with the Schwab card? I think it kicks ass, I use it on all my trips to Colombia.

SavePros321
07-29-13, 13:38
What's wrong with the Schwab card? I think it kicks ass, I use it on all my trips to Colombia.+1.

And thanks Bbrocs for the Schwab tip! All your ATM fees are refunded (be sure to use ATM's that charge a fee like Citi Bank) and you can withdraw up to 860k pesos daily.

Artisttyp
07-29-13, 16:17
What's wrong with the Schwab card? I think it kicks ass, I use it on all my trips to Colombia.It's been discussed many times on this thread so I'd rather not clog up the forum with my opinions.

The question I have has to do with people bringing US Dollars to exchange into pesos. I notice that people are talking about it more. When I was going to MDE on a semi regular basis the consensus was NOT to bring dollars since they will be hard to exchange.

If the cambios charge you 3% like my bank does that would mean the risk of bringing a wad of cash would result in a $5 savings from not having to pay the international service charge. Is this what people are experiencing when they bring cash to Colombia? If so it would make sense to only bring a limited amount of cash and rely on your debit and credit card.

Vegas Jeff
07-29-13, 18:03
I've read that you lose 3% to the cambios which is the same as using an ATM but you are spared the $5 international transaction fee. Can someone verify this for me?The 3% is a charge that a bank commonly charges. You do not lose anything to the Cambios. Never exchange in the States unless you want a very small amount to arrive with. The bank has to have this rare currency sent to the local branch and this costs the bank money and they pass this on to you.

I have been using the exchange place below for years. It is at the entrance of Parque Lleras. No ID required and I have exchanged 2k-3k before.

Sell / Buy is one of the best. Current rate Interdolar sell 1915 buy 1880. Unicambios sell 1920 buy 1830. Notice the 35 basis points vs 90 basis points.

http://www.interdolar.co/

Member #4353
07-30-13, 01:14
Just a warning about ATM's in Colombia. Both my Mastercard and AMEX cards were cloned in Colombia on my last trip. The ATMs also limit the amount you canwithdrawal at a time. A real pain in the ass at times.

For this reason, I will be taking cash and using the casa de cambios, the only downside is that they usually always ask for your passport and you need to fill out a form. I'll report back my experience next week.

SlamCity7777
07-30-13, 02:14
Just a warning about ATM's in Colombia. Both my Mastercard and AMEX cards were cloned in Colombia on my last trip. The ATMs also limit the amount you canwithdrawal at a time. A real pain in the ass at times.

For this reason, I will be taking cash and using the casa de cambios, the only downside is that they usually always ask for your passport and you need to fill out a form. I'll report back my experience next week.Sorry you got taken advantage of. Blows and sucks!

I don't want this to sound like a "What do your keys look like?" type of stupid sounding question but where do you think the scam took place? What banks and branches did you use? Were you in any suspect areas? Did you buy stuff at a pop up shop? Leave your wallet un protected with a chica whom had a "chinger" (clone recording thing)?

Any possible areas of weakness will help the community better protect ourselves from this. Just saying.

TheShadow2
07-30-13, 18:11
Sorry you got taken advantage of. Blows and sucks!

I don't want this to sound like a "What do your keys look like?" type of stupid sounding question but where do you think the scam took place? What banks and branches did you use? Were you in any suspect areas? Did you buy stuff at a pop up shop? Leave your wallet un protected with a chica whom had a "chinger" (clone recording thing)?

Any possible areas of weakness will help the community better protect ourselves from this. Just saying.I'd be interested in those details as well. Seems very unlikely your two cards would have been cloned two different times, and more likely as SlamCity suggested, someone had access to your wallet. Did you do toda la noche with a working girl after a night of drinking?

Also as far as ATM limits, Schwab limits you to 1000 dollars a day, so like 2 million pesos. If that hampers you guys, I guess you all are spending it faster than I do.

Artisttyp
07-30-13, 19:05
Just a warning about ATM's in Colombia. Both my Mastercard and AMEX cards were cloned in Colombia on my last trip. The ATMs also limit the amount you canwithdrawal at a time. A real pain in the ass at times.

For this reason, I will be taking cash and using the casa de cambios, the only downside is that they usually always ask for your passport and you need to fill out a form. I'll report back my experience next week.My credit card was also compromised once in MDE. I hate these damn ATM's. I would much rather go back to travelers checks.

Thank You to those that commented on my question. It's good to know that there are cambios now in MDE.

Hioctane
07-31-13, 00:47
My credit card was also compromised once in MDE. I hate these damn ATM's. I would much rather go back to travelers checks.

Thank You to those that commented on my question. It's good to know that there are cambios now in MDE.There were always cambios in MDE. How else would you get cash before credit cards?

Hioctane
07-31-13, 00:54
I've used debit cards for ATM withdrawals in all my international travels with almost zero problems. The only problem I had once was that an ATM in Cartagena did not spit any money out. I called my bank and they refunded my money while they investigated (found that it was in fact a faulty ATM). For those that had problems, do you also use credit cards for dinner, purchases, casas etc?

Almotu
07-31-13, 01:38
Anyone know about any cambios located near a) C. C. Monterrey or near Poblado metro station, be) C. C. Premium Plaza or San Diego or see) in Laureles near Hotel Lincoln?

#Shadow2: I believe what AvJoe2 was trying to say is that even though your bank back in the US has a daily withdrawal allowance of $700-1, 000. What sucks about Colombian bank ATMs is that they only let you get a maximum of 400K per withdrawal so if you want to hit your home bank's limit you will have to try for multiple withdrawals. That was my experience last year with the Bancolombia and BBVA ATMs.

#AvJoe2: were the cards that were cloned - credit cards or atm/debit cards? Credit cards can be easily cloned at restaurants or shops, but I don't use them to get money from ATMs.

Member #4353
07-31-13, 02:01
I'm pretty sure I know exactly which ATM machine they were cloned at because I only use my AMEX to withdraw money from ATM's, and in this particular case I tried my mastercard debit and amex on same ATM. I'll be in Mde this weekend and will take a pic of location. You guys are totally right about the chicas.

Thanks for all the feedback, I'll be more careful in the future.


Sorry you got taken advantage of. Blows and sucks!

I don't want this to sound like a "What do your keys look like?" type of stupid sounding question but where do you think the scam took place? What banks and branches did you use? Were you in any suspect areas? Did you buy stuff at a pop up shop? Leave your wallet un protected with a chica whom had a "chinger" (clone recording thing)?

Any possible areas of weakness will help the community better protect ourselves from this. Just saying.

Hioctane
07-31-13, 04:46
Anyone know about any cambios located near a) C. C. Monterrey or near Poblado metro station, be) C. C. Premium Plaza or San Diego or see) in Laureles near Hotel Lincoln?

#Shadow2: I believe what AvJoe2 was trying to say is that even though your bank back in the US has a daily withdrawal allowance of $700-1, 000. What sucks about Colombian bank ATMs is that they only let you get a maximum of 400K per withdrawal so if you want to hit your home bank's limit you will have to try for multiple withdrawals. That was my experience last year with the Bancolombia and BBVA ATMs.

#AvJoe2: were the cards that were cloned. Credit cards or atm / debit cards? Credit cards can be easily cloned at restaurants or shops, but I don't use them to get money from ATMs.If you want a higher limit, go to Citibank, HSBC or ServiBanca. They have a 800k limit.

Dccpa
07-31-13, 14:14
I'd be interested in those details as well. Seems very unlikely your two cards would have been cloned two different times, and more likely as SlamCity suggested, someone had access to your wallet. Did you do toda la noche with a working girl after a night of drinking?

Also as far as ATM limits, Schwab limits you to 1000 dollars a day, so like 2 million pesos. If that hampers you guys, I guess you all are spending it faster than I do.They don't need access to clone your cards. Posting this from memory. If a card has an RFID chip in it, the card can be cloned while it is in your wallet. The cloning device was available for about $100. In the video, the cloned someone's card at an airport. Then using that person's permission, they used another $100 device to transfer the cloned data to a hotel key card and then used the key card to buy something at one of the airport restaurants.

There is some kind of protective cover you can buy that will prevent this type of cloning. The old-fashioned cloning method is probably what happened to the poster, but this new method is something to be aware of and is easily prevented.

Almotu
08-03-13, 19:20
If you want a higher limit, go to Citibank, HSBC or ServiBanca. They have a 800k limit.So you are telling me that at these particular bank's ATMs, there is an 800K withdrawal option in the menu so you can get that much COP out in one shot? Or is this the max daily allowance & you need mulitiple swipes at the ATM to get that much. I don't remember this being the case at the Citibank ATM inside the Blockbuster Video on Av. Poblado. I remember Davivienda used to have a 520K or 560K button in their withdrawal menu but I have always had bad luck with their machines. Always had to select a lower amount 300K or sometimes can't get any money out at all.

Vegas Jeff
08-03-13, 20:23
So you are telling me that at these particular bank's ATMs, there is an 800K withdrawal option in the menu so you can get that much COP out in one shot? Or is this the max daily allowance & you need mulitiple swipes at the ATM to get that much. I don't remember this being the case at the Citibank ATM inside the Blockbuster Video on Av. Poblado. I remember Davivienda used to have a 520K or 560K button in their withdrawal menu but I have always had bad luck with their machines. Always had to select a lower amount 300K or sometimes can't get any money out at all.I was at Citibank in El Poblado yesterday. Their limit is $2000 per day and $1000 per transaction. I withdrew $1.8 million twice for a total of 3.6 million ($1900). The options on the menu only reach 700,000k. If you want more choose other amount and type in what you want. I hope this answers your question.

GL

Hioctane
08-04-13, 15:21
I was at Citibank in El Poblado yesterday. Their limit is $2000 per day and $1000 per transaction. I withdrew $1. 8 million twice for a total of 3. 6 million ($1900). The options on the menu only reach 700,000k. If you want more choose other amount and type in what you want. I hope this answers your question.

GLReally? I didn't know you could take more than 700-800k in one shot. Nice to know.

Ezyngo
08-05-13, 05:25
I was at Citibank in El Poblado yesterday. Their limit is $2000 per day and $1000 per transaction. I withdrew $1. 8 million twice for a total of 3. 6 million ($1900). The options on the menu only reach 700, 000k. If you want more choose other amount and type in what you want. I hope this answers your question.

GLBut the question is would other Citibank ATMs around Medellin allow you to do that also? I think they would. I have to try it at other locations on my next trip with my newly issued Schwab Platinum Visa Debit Card. From what I read on this thread, the exchange rate is better from the ATMs than from any casas de cambio. If someone is in Medellin right now, can you check to see? I know exactly where the Citibank in Poblado is. Just hope other Citibank ATMs permit you to do the same.
Cheers.

SavePros321
08-05-13, 05:35
But the question is would other Citibank ATMs around Medellin allow you to do that also? I think they would. I have to try it at other locations on my next trip with my newly issued Schwab Platinum Visa Debit Card. From what I read on this thread, the exchange rate is better from the ATMs than from any casas de cambio. If someone is in Medellin right now, can you check to see? I know exactly where the Citibank in Poblado is. Just hope other Citibank ATMs permit you to do the same.

Cheers.There is also a Citibank ATM in Santa Fe Mall on the ground floor.

Vegas Jeff
08-05-13, 05:43
But the question is would other Citibank ATMs around Medellin allow you to do that also? I think they would. I have to try it on other locations on my next trip with my newly issued Schwab Platinum Visa Debit Card. From what I read on this thread, the exchange rate is better from the ATM than from any casa de cambio. If someone is in Medellin right now, can you check to see? I know exactly where the Citibank in El Poblado is. Just hope other Citibank ATMs permit you to do the same.

Cheers.All of the Citibank branch offices allow $1,000 USD per transaction. The Sante Fe Mall has Citibank withdraw machines and the limit is 500,000k pesos ($270).

Almotu
08-06-13, 02:28
I was at Citibank in El Poblado yesterday. Their limit is $2000 per day and $1000 per transaction. I withdrew $1. 8 million twice for a total of 3. 6 million ($1900). The options on the menu only reach 700, 000k. If you want more choose other amount and type in what you want. I hope this answers your question.

GLYour clear & concise answer is much appreciated. Did you withdraw from a Citibank account (which still charge 3% foreign transaction fee) or did you use an ATM card from another institution?

Member #4394
08-06-13, 03:34
I have the same question. Can I withdraw a similar amount from an account with another bank?


Your clear & concise answer is much appreciated. Did you withdraw from a Citibank account (which still charge 3% foreign transaction fee) or did you use an ATM card from another institution?

SavePros321
08-06-13, 03:48
All of the Citibank branch offices allow $1,000 USD per transaction. The Sante Fe Mall has Citibank withdraw machines and the limit is 500,000k pesos ($270).I've withdrawn 860,000k from Citibank with my Schwab account. The Davienda ATMS have a limit of 720,000k.

Vegas Jeff
08-06-13, 18:22
I have the same question. Can I withdraw a similar amount from an account with another bank?Not sure about other banks policies but I would not withdraw from another bank's ATM unless I had a Schwab card. You will get hit with the 3%++ for sure.


Your clear & concise answer is much appreciated. Did you withdraw from a Citibank account (which still charge 3% foreign transaction fee) or did you use an ATM card from another institution?I use my Citibank ATM card due to the fact that I have an account with Citibank in the States. As I stated in a post awhile back in this thread, I do not have a special account with Citibank. All I did was sit down with one of the bankers in the States at Citibank and explained my situation. The banker said he could switch me to a Gold account at no charge for 3 months per year which allows me to avoid all fees during those 3 months. For my other trips I bring enough cash to avoid needing to withdraw from the bank.

Based on the information I have received on this thread over past year I would do one of the following three things and in this order:

1) If you have Citibank or another bank which allows you to withdraw abroad at no charge, I would do this.

2) If you have a short trip of less than 2 weeks bring cash and exchange at Interdolar at the entrance to Parque Lleras. They do not require ID which saves you time and gives you privacy. Current rate is 1890 which is the same as Citibank right now.

3) If you have an extended stay or don't want to bring cash get the Schwab card.

Ezyngo
08-07-13, 01:17
All have the same serial number invading Medellin in time for the Flowers Festival.

Cheers.

Member #4394
08-07-13, 16:02
If this is the reason why 20K peso bills come from all the ATMs now whereas 50k bills used to come from them.


All have the same serial number invading Medellin in time for the Flowers Festival.

Cheers.

SlamCity7777
08-07-13, 16:42
If this is the reason why 20K peso bills come from all the ATMs now whereas 50k bills used to come from the ATMs.I think it's because of the FdF, once the stack in the ATM is out of 50's it will spit out 20's. Just the volume of usage I'd imagine. For example when I go to the ATM later in the day or weekend I get 20's. Huge pain when you're getting 700K out!

When it comes to money. I do not like bringing several $1000 down to Colombia. I just don't. A few years ago there was a big stink about one member staying with a guy who had rooms. Next thing you know $1000-$3000 (I forget the actual amount) goes missing, Chica gets cute with some sleepy juice, Chica gets cute while you in shower (it does happen to both long timers and short timers) , you get drunk and sloppy and drop your roll. Cash has too many weaknesses IMO. In a hard life country like Colombians a $1000 jackpot is just too hard to resist.

Member #4394
08-08-13, 13:43
Sounds right.


I think it's because of the FdF, once the stack in the ATM is out of 50's it will spit out 20's. .

Ezyngo
08-23-13, 03:22
If you hand your Schwab Visa Debit card to a teller, what is the maximum amount of money you can withdraw? Please let me know if you've ever done that before.

Cheers.

Bbrocs
08-23-13, 03:38
If you hand your Schwab Visa Debit card to a teller, what is the maximum amount of money you can withdraw? Please let me know if you've ever done that before.

Cheers.Not to the teller. At the ATM we take out max 1,500,000.

If that isn't enough I call schwab and I ask for my limits to be raised just for the day.

Almotu
08-29-13, 22:47
Just wanted to let everyone know how I got my pesos so far this trip. .

ATM withdrawal at the airport (8/27) checked my Schwab account afterwards, exchange rate came out as 1912 to $1.

Currency exchange at Premium Plaza (8/29) at "Mercado Libre de Divisas", exchange rate was 1880 to $1. I brought my passport (not a photocopy) and they use a fingerprint reader to complete the transaction.

Nibu Raphael
09-16-13, 21:41
Hi,

When I got here in August it was just under 19000 now its over that so thats cool then.

Well also I go to Bancolombia and get like 320 bucks 600 pesos thats the best I can't find any more other atm banks give me less that I can take daily.

I doubt the peso will ever go back to 2600 like in the old days but 1900 And over is better then 18000 or 17000 for sure.


Just wanted to let everyone know how I got my pesos so far this trip. .

ATM withdrawal at the airport (8/27) checked my Schwab account afterwards, exchange rate came out as 1912 to $1.

Currency exchange at Premium Plaza (8/29) at "Mercado Libre de Divisas", exchange rate was 1880 to $1. I brought my passport (not a photocopy) and they use a fingerprint reader to complete the transaction.

Hioctane
09-19-13, 04:10
I was at the Citibank near Oviedo. I was able to pull out 1,700,000 in one shot. I think the maximum is what you set your card limit to be. I had set the limit for $1000 for ATM withdrawals when I put a travel advisory on my Schwab card.

The rate came out to be about 1919 which was even better than the XE rate of 1915 on 9/14! And Schwab will refund the 9.745 fee that Citibank charges.

Ezyngo
09-19-13, 13:49
Can someone explain to me why I received less ATM fee rebate from Schwab if I withdrew more money. Here is an example. I took out 300 mil COP, got $5. 06 USD rebate. Other time I withdrew 700 mil COP but only received $5. 10 USD back into my account. I have not called Schwab to ask about this yet.

Thanks.

Member #4244
09-19-13, 14:37
I was at the Citibank near Oviedo. I was able to pull out 1. 700. 000 in one shot. I think the maximum is what you set your card limit to be. I had set the limit for $1000 for ATM withdrawals when I put a travel advisory on my Schwab card.

The rate came out to be about 1919 which was even better than the XE rate of 1915 on 9/14! And Schwab will refund the 9. 745 fee that Citibank charges.Citibanks ATMs carry a limit of 2, 000, 000 COP per withdraw and charge a fee, as you said, of 9K COP and change.

As for the other question, better talk to Chuck LOL. I have no idea why the disparate refund amounts (or I guess proportions) , maybe it had to do with a separate fee? I would talk to your banker.

SlamCity7777
10-27-13, 15:40
I was at the Citibank near Oviedo. I was able to pull out 1, 700, 000 in one shot. I think the maximum is what you set your card limit to be. I had set the limit for $1000 for ATM withdrawals when I put a travel advisory on my Schwab card.

The rate came out to be about 1919 which was even better than the XE rate of 1915 on 9/14! And Schwab will refund the 9. 745 fee that Citibank charges.Man I gots to get down on the Schwab account! I've noticed that a few banks have lowered thier maximums to the $400K area. I say there is a conspiracy to get more fees out of us travelers! LOL.

I usually don't exchange money but for those that do where do you frequent that is fair. I looked back several guys said they found the best rates at the Airport. I'm not going to spend half my day and the cost of ida why vuelta in a taxi to get a few pesos more! Hahaha! Is the place in Premium Plaza still good?

Bbrocs
10-27-13, 16:46
Man I gots to get down on the Schwab account! I've noticed that a few banks have lowered thier maximums to the $400K area. I say there is a conspiracy to get more fees out of us travelers! LOL.

I usually don't exchange money but for those that do where do you frequent that is fair. I looked back several guys said they found the best rates at the Airport. I'm not going to spend half my day and the cost of ida why vuelta in a taxi to get a few pesos more! Hahaha! Is the place in Premium Plaza still good?I changed clients dollars yesterday at inter-cambio across from Mondongos. I don't know why. But everyone on line but me was changing pesos for dollars. Including one guy in front of me who changed 2,800 dollars worth. Anyway when I changed my money the lady said the rate was 1960 to 1. Wow wow wow. I looked over each bill before leaving the window because twice friends of ours received a suspicious bill. All checked out and boggied out the door. I to use schwab. Max withdraw I noticed is 1,500,000. Davienda bank I'm sure I spelled it wrong lowered there withdraw limit down from 720,000 to 300,000. Bank of Colombia raised there's from 300,000 to 600,000. But schwab card will not work in bank of Colombia ATM. That's where my paypal card comes into play.

SlamCity7777
10-28-13, 13:52
i changed clients dollars yesterday t inter-cambio across from mondongos. i don't know why. but everyone on line but me was changing pesos for dollars. including one guy in front of me who changed 2,800 dollars worth. anyway when i changed my money the lady said the rate was 1960 to 1. wow wow wow. i looked over each bill before leaving the window because twice friends of ours received a suspicious bill. all checked out and boggied out the door. i to use schwab. max withdraw i noticed is 1,500,000. davienda bank i'm sure i spelled it wrong lowered there withdraw limit down from 720,000 to 300,000. bank of colombia raised there's from 300,000 to 600,000. but schwab card will not work in bank of colombia atm. that's where my paypal card comes into play.ok so i'm not nuts! hahaah! i thought that davienda (the little house logo) had a higher limit and banco colombia had the lower. citi bank has ungodly fees! almost $10,00cop per deal plus what ever your bank charges for foreign transactions. no gracias! odd as to why they switched. i'm sure it has some ass back wards logic that runs rampant in colombia. thanks for the tip on the intercambio on 10 or 10a. maybe as your peeps were showing up their peeps where leaving so that's why they were selling vs buying pesos. i do agree that seems odd. yeah man i have a pp card too. the 1% fee is second best to the reunfunded fees of schwab.

Bbrocs
10-28-13, 18:41
ok so i'm not nuts! hahaah! i thought that davienda (the little house logo) had a higher limit and banco colombia had the lower. citi bank has ungodly fees! almost $10,00cop per deal plus what ever your bank charges for foreign transactions. no gracias! odd as to why they switched. i'm sure it has some ass back wards logic that runs rampant in colombia. thanks for the tip on the intercambio on 10 or 10a. maybe as your peeps were showing up their peeps where leaving so that's why they were selling vs buying pesos. i do agree that seems odd. yeah man i have a pp card too. the 1% fee is second best to the reunfunded fees of schwab.the cambio is on the side street between calle 10a and calle 10b almost across from stairs to enter mondongos.

i think your looking at citibank wrong. yes they have a high rate to withdraw money. yes if your using there card they have a foreign fee. but who cares because i'm using my schwab card there and the fee gets reimbursed at the 1st of month. and schwab doesn't charge a foreign fee. in fact if your a schwab user you should only be looking for atm's that have a fee added because you get that back. the ones that don't show a fee hide it inside the transaction and you don't get it back. i use only citibank atm and that other rediculous green atm that sounds like servicho something. there max withdraw is 780,000 one shot with a 8,000 peso fee. but again you get it back from schwab. i do only modest withdraws and this month i got back $84 dollars in atm fees. that's nothing to sneeze at. remember your not saving money if your taking taxis back and forth to oviedo mall cambios. your better taking from the atm.

Nabru
10-28-13, 22:28
Can someone explain to me why I received less ATM fee rebate from Schwab if I withdrew more money. Here is an example. I took out 300 mil COP, got $5. 06 USD rebate. Other time I withdrew 700 mil COP but only received $5. 10 USD back into my account. I have not called Schwab to ask about this yet.

Thanks.I'm not sure but it could be exchange rate fluctuations of the ATM fee from day to day.

Bbrocs
10-29-13, 03:11
I'm not sure but it could be exchange rate fluctuations of the ATM fee from day to day.It doesn't say what atm's you took the money from. But if the fee isn't stated then it's hidden inside the transaction and you don't get it back from schwab. Use the highest fee ATMs you can find because there the ones that have the closest to the official rate. Knowing full well that you will get the 6,000-9,000 back at end of the month.

Also don't way over think this. Just enjoy your vacation. Don't waste a hour walk or a 9,000 peso taxi ride to save 4, 000 pesos.

Time well spent counts for something and before you know it we seem, to all be back at work again. Wishing for another few hours back that we pissed away to save 7,000 pesos.

Vitrea
10-29-13, 04:56
Can someone explain to me why I received less ATM fee rebate from Schwab if I withdrew more money. Here is an example. I took out 300 mil COP, got $5. 06 USD rebate. Other time I withdrew 700 mil COP but only received $5. 10 USD back into my account. I have not called Schwab to ask about this yet.

Thanks.That actually makes sense because what Schwab is crediting you is just the ATM fee, which is unrelated to the amount you withdraw. The difference in 4 cents is probably due to fluctuation in exchange rate.

Vitrea
10-29-13, 05:01
I changed clients dollars yesterday at inter-cambio across from Mondongos. I don't know why. But everyone on line but me was changing pesos for dollars. Including one guy in front of me who changed 2,800 dollars worth. Anyway when I changed my money the lady said the rate was 1960 to 1. Wow wow wow. I looked over each bill before leaving the window because twice friends of ours received a suspicious bill. All checked out and boggied out the door. I to use schwab. Max withdraw I noticed is 1,500,000. Davienda bank I'm sure I spelled it wrong lowered there withdraw limit down from 720,000 to 300,000. Bank of Colombia raised there's from 300,000 to 600,000. But schwab card will not work in bank of Colombia ATM. That's where my paypal card comes into play.This is the cambio I always use and they consistently have the best rates in town.

The folks that are buying dollars must be traveling out of the country. If you are Colombian traveling abroad it is much better to buy Dollars in Colombia than try to exchange them when you get to your destination. For example, the exchange rate from COP to $, in USA is pathetic.

Bango Cheito
10-29-13, 07:50
This is the cambio I always use and they consistently have the best rates in town.

The folks that are buying dollars must be traveling out of the country. If you are Colombian traveling abroad it is much better to buy Dollars in Colombia than try to exchange them when you get to your destination. For example, the exchange rate from COP to $, in USA is pathetic.I just checked on it like a week ago, because supposedly in October the dollar is stronger due to very few Colombians leaving the country on vacation.

For the first time it was more expensive to buy USD at the cambios here in Bogota than it was to send it up via bank transfer. They gave me a rate of 1937, and the cambios wanted 2010!

Looks like gringos really aren't buying that much white stuff anymore :P

Vegas Jeff
12-06-13, 03:11
1970 to 1 USD. Exchanged at both Interdolar and Unicambios over the past two days. The Colombian Peso has been between 1700-2000 over the past three years. This is the highest that I have seen it. It is actually being offered at a slight arbitrage to the world market's 1950, so they obviously want dollars right now.

Went to Unicambios in the Oviedo Mall. 1967. 1 USD. Small line. Process took 15 minutes. I'd required. Exchanged 1k USD.

Went to Interdolar near Parque Llleras. 1970. 1 USD. Process took 2 minutes. No ID required. Exchanged 2. 7k USD.

I have had only good experiences with Interdolar.

http://www.interdolar.co/

http://www.unicambios.com.co/

SirAssAlot
12-06-13, 07:10
I notice everyone only mentions best exchange cambio in MDE. I'm going to Cali, do anyone know best cambio in Cali?

LocoGringo
12-07-13, 19:50
I notice everyone only mentions best exchange cambio in MDE. I'm going to Cali, do anyone know best cambio in Cali?Hit and miss but the best I found was at the airport, close to the ticket counter. All the major malls have them. Today 1940-1950 at money exchange. They try to give you 1880-1900, reject that.

SirAssAlot
12-11-13, 00:40
Ok thanks! Appreciate that.


Hit and miss but the best I found was at the airport, close to the ticket counter. All the major malls have them. Today 1940-1950 at money exchange. They try to give you 1880-1900, reject that.

YG365
12-11-13, 13:54
Hey fellas,

I wish I knew about the Schwab checking account years ago! It's probably too late for me to open, deposit and receive my debit card by this upcoming Sunday (When I leave for Colombia) but I'm going to try! How long did it take you guys to receive your cards?

I was also doing some research and found the Fidelity checking account to offer similar benefits as the Schwab. What are your thoughts?

Thanks,

YG

BayBoy
12-11-13, 16:58
I notice everyone only mentions best exchange cambio in MDE. I'm going to Cali, do anyone know best cambio in Cali?Chipichape Mall has a money exchange store.

Ezyngo
12-12-13, 03:01
How long did it take you guys to receive your cards?In my case, it took 3 weeks. Good luck.
Cheers.

Artisttyp
01-03-14, 01:22
Has anyone exchanged US Dollars to Pesos in the centro? I usually take money out of the Citbank off the pedestrian pathway. Has anyone used that Citibank location to exchange or is the rate not worth it?

Thanks

Sailor Jim
01-16-14, 00:55
ok so i'm not nuts! hahaah! i thought that davienda (the little house logo) had a higher limit and banco colombia had the lower. citi bank has ungodly fees! almost $10,00cop per deal plus what ever your bank charges for foreign transactions. no gracias! odd as to why they switched. i'm sure it has some ass back wards logic that runs rampant in colombia. thanks for the tip on the intercambio on 10 or 10a. maybe as your peeps were showing up their peeps where leaving so that's why they were selling vs buying pesos. i do agree that seems odd. yeah man i have a pp card too. the 1% fee is second best to the reunfunded fees of schwab.davivienda has lowered max withdraw twice in the past 6 months. and so has servibanca. servibanca was 820. 000 max withdraw for a 3k fee and now it is 780. 000 with a 6. 500 fee. was 6. 300 fee last month.

bancolombia never takes any of my 5 cards for a withdrawl. only my bancolombia card, go figure.

SlamCity7777
01-16-14, 03:02
Davivienda has lowered max withdraw twice in the past 6 months. And so has Servibanca. Servibanca was 820. 000 max withdraw for a 3K fee and now it is 780. 000 with a 6. 500 fee. Was 6. 300 fee last month.

Bancolombia never takes any of my 5 cards for a withdrawl. Only my Bancolombia card, go figure.Hey Jim,

I've only seen this ATM in Gran Casino. Are there more in the general Poblado area? I've always gotten rejected by this ATM. Have you ever had any issues?

Hioctane
01-16-14, 04:06
Davivienda has lowered max withdraw twice in the past 6 months. And so has Servibanca. Servibanca was 820. 000 max withdraw for a 3K fee and now it is 780. 000 with a 6. 500 fee. Was 6. 300 fee last month.

Bancolombia never takes any of my 5 cards for a withdrawl. Only my Bancolombia card, go figure.Wasn't Servibanca always 780.000? I never tried more because on screen it said 780.000 max.

Sailor Jim
01-16-14, 16:46
Wasn't Servibanca always 780.000? I never tried more because on screen it said 780.000 max.Servibanca was 820. 000 max about 8-10 months ago. You are right, now it maxes at 780. 000.

Sailor Jim
01-16-14, 16:56
Hey Jim,

I've only seen this ATM in Gran Casino. Are there more in the general Poblado area? I've always gotten rejected by this ATM. Have you ever had any issues?Servibanca treats me right for some reason. I usually just have a problem with Bancolombia and foreign cards.

Servibanca's in Poblado according to their website, I can't be held responsible if their website is wrong.

Carulla / Jumbo. Santa Fe, Premium Plaza

Banco GNB Sudameris (43a 1S-88) right on Ave Poblado.

Casino Alegre (I think this is Poblado)

Confiar Poblado CR43 7D-61.

Exito Poblado

Unfortunately if your card does not work in one it won't work in any as they are all on the same network. This is a good choice (Servibanca taking out 780. 00, paying the 6. 500 Servibanca fee) instead of Davivienda 400. 000 twice. No Davivienda fee but your home bank charging $USD2. 50 or more per transaction.

Hioctane
01-16-14, 17:25
Servibanca was 820. 000 max about 8-10 months ago. You are right, now it maxes at 780. 000.I don't know about that. I've been using them for years and I don't recall them being more than 780. They are my go-to bank behind Citibank and HSBC. There are a lot more Servibancas around.

BTW, anyone have a problem with Bancolombia with their Schwab card? They always reject my card.

Bbrocs
01-18-14, 18:16
I don't know about that. I've been using them for years and I don't recall them being more than 780. They are my go-to bank behind Citibank and HSBC. There are a lot more Servibancas around.

BTW, anyone have a problem with Bancolombia with their Schwab card? They always reject my card.Schwab card does not work at banco Colombia. It works almost at every other ATM but them.

The stupid trend right now is all the banks are lowing the max withdraw. Went to citibank to find that they to lowered it to 800, 000 pesos with a healthy ATM fee, thank god for schwab returning the 9, 000 pesos they charge.

They have all lowered the max withdraw on average except (2) banks banco Colombia which I see on just some machines to be set at 600, 000 up from 300, 000.

Banco social (the blue sign bank) 700, 000 pesos.

Manizales911
01-21-14, 14:27
Nice run up this week.

MdeJohn
01-21-14, 15:22
Nice run up this week.The central bank talked about cutting rates a couple of weeks ago after a weak inflation read. Besides that deficits are getting worrisome and the USD is gaining against most others. I wouldn't wait for it to go too much above 2,000 without any kind of crisis, GDP growth expected around 4% with low inflation this year won't push the COP down much further. Nice little bonus for those of us getting paid in dollars though.

CaptainOrgazm0
01-22-14, 19:33
I'm from NY and I will be going to MDE this weekend. I always send myself money through money wire. I went to a casa de envio (it's like moneygram for South America). They have the dollar at 2,030 pesos. Which is pretty good. So now when I get to MDE I'll have that waiting for me to pick up. I find it to be the best way to exchange money. They charge $5 for every hundred dollars you send.

Bbrocs
01-23-14, 15:07
If you use an ATM for any transaction, including a balance inquiry, you may be charged a fee by the ATM owner even if you do not complete a withdrawal. This ATM fee is a third party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be charged to your Card.

As of March 4, 2014 the new fees will be as follows:

US ATM Withdrawal (Debit Card ATM Withdrawal From)

$ 1. 50 Per ATM Withdrawal within US (Plus any amounts charged by the ATM owner.)

Signature Withdrawal (Debit Card Cash Advance To)

$ 3. 00 Per Signature Withdrawal if a signature is required to obtain cash.

Non-US ATM Transaction-Using an ATM that is not in the US (Debit Card ATM Withdrawal From)

$1. 50; Per withdrawal from a non-US ATM. This fee will apply even if the transaction does not require a currency conversion.

Foreign Transaction Fee (Debit Card Signature Purchase To)

1%; Per purchase from a non-US merchant or use at a non-US ATM. This fee will apply even if the transaction does not require a currency conversion.

So other alternatives. I been playing around with walmarts bluebird Amex debit card. Works for withdraws at banco Colombia only. (trust me I tried). They say there is a $2 fee for withdrawing money. But they waive it if you send money via ach to it. Just linking PayPal to it and doing a transfer counts. Not sure about foreign fees. But I like the card. I can fund it at walmart at the register with either cash or another debit card. Money available immediately.

Hioctane
01-23-14, 16:15
I.

So other alternatives. I been playing around with walmarts bluebird Amex debit card. Works for withdraws at banco Colombia only. (trust me I tried). They say there is a $2 fee for withdrawing money. But they waive it if you send money via ach to it. Just linking PayPal to it and doing a transfer counts. Not sure about foreign fees. But I like the card. I can fund it at walmart at the register with either cash or another debit card. Money available immediately.I use Amex prepaid as an alternative to WU. Yes, if you use ACH, there is loading fee and they waive ATM fee. However, I believe they only waive the fee for US banks and not foreign banks. Loading it from Walmart or at any drugstore with greendot or vanilla is $3.95-$4.95 up to $500.

Hioctane
01-23-14, 16:17
I'm from NY and I will be going to MDE this weekend. I always send myself money through money wire. I went to a casa de envio (it's like moneygram for South America). They have the dollar at 2,030 pesos. Which is pretty good. So now when I get to MDE I'll have that waiting for me to pick up. I find it to be the best way to exchange money. They charge $5 for every hundred dollars you send.If you think about it. $5 for every hundred dollars is 5% which is pretty crazy fee!

Gimmedub
01-23-14, 21:18
Cap1 CC is the best for purchases. No forex fees. The ATM card waives ATM fees if you keep over 5k in the acct. But usually I take US cash and change it at a cambio. Works out to about the same if you don't keep the min.


If you use an ATM for any transaction, including a balance inquiry, you may be charged a fee by the ATM owner even if you do not complete a withdrawal. This ATM fee is a third party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be charged to your Card.

As of March 4, 2014 the new fees will be as follows:

US ATM Withdrawal (Debit Card ATM Withdrawal From)

$ 1. 50 Per ATM Withdrawal within US (Plus any amounts charged by the ATM owner.)

Signature Withdrawal (Debit Card Cash Advance To)

$ 3. 00 Per Signature Withdrawal if a signature is required to obtain cash.

Non-US ATM Transaction-Using an ATM that is not in the US (Debit Card ATM Withdrawal From)

$1. 50; Per withdrawal from a non-US ATM. This fee will apply even if the transaction does not require a currency conversion.

Foreign Transaction Fee (Debit Card Signature Purchase To)

1%; Per purchase from a non-US merchant or use at a non-US ATM. This fee will apply even if the transaction does not require a currency conversion.

So other alternatives. I been playing around with walmarts bluebird Amex debit card. Works for withdraws at banco Colombia only. (trust me I tried). They say there is a $2 fee for withdrawing money. But they waive it if you send money via ach to it. Just linking PayPal to it and doing a transfer counts. Not sure about foreign fees. But I like the card. I can fund it at walmart at the register with either cash or another debit card. Money available immediately.

Bbrocs
01-24-14, 15:08
I use Amex prepaid as an alternative to WU. Yes, if you use ACH, there is loading fee and they waive ATM fee. However, I believe they only waive the fee for US banks and not foreign banks. Loading it from Walmart or at any drugstore with greendot or vanilla is $3. 95-$4. 95 up to $500.There is no fee to load bluebird from Walmart. I haven't seen the $2.00 come out when withdrawing money here in Colombia. I got to see if it's buried inside the transaction.

Bbrocs
01-25-14, 14:28
There is no fee to load bluebird from Walmart. I haven't seen the $2.00 come out when withdrawing money here in Colombia. I got to see if it's buried inside the transaction.I checked it out, Hioctane is right there is a 2 fee to withdraw foreign money here on bluebird.

Right now the cambios are trending 1920 to 1930, but the official rate was 2000 to 1 yesterday.

I personally still believe schwab is best method to take money from a ATM as of right now. That capital one card you need to loan them 5K to get that rate. Schwab nope.

The other option your pay 5 dollars on a hundred? Thats 5% lost

LocoGringo
01-25-14, 23:17
I checked it out, Hioctane is right there is a 2 fee to withdraw foreign money here on bluebird.

Right now the cambios are trending 1920 to 1930, but the official rate was 2000 to 1 yesterday.

I personally still believe schwab is best method to take money from a ATM as of right now. That capital one card you need to loan them 5K to get that rate. Schwab nope.

The other option your pay 5 dollars on a hundred? Thats 5% lostIf you have a total of 25, 000 deposited, checking and savings, TD does not charge ANY fee when using their ATM / Visa card.

Hioctane
01-27-14, 03:46
If you have a total of 25, 000 deposited, checking and savings, TD does not charge ANY fee when using their ATM / Visa card.I believe it's $2,500 to be a premier member for them to refund ATM fees like Schwab. TD doesn't charge fees but the other bank will. Which they will refund if you are a premier member. I have them as my backup card now.

Dealdo
02-16-14, 18:34
Ok guys a questions to the experts and updated. Last trip was better to exchange our dollars on the casas de cambio. ATMs had the official rate but casas de cambio had a way higher rate than official, even the ones at the airport, first time ever in any country that that I find an airport currency exchange higher than ATMs.

How are the things now? Thanks a lot.

Artisttyp
02-16-14, 19:03
Ok guys a questions to the experts and updated. Last trip was better to exchange our dollars on the casas de cambio. ATMs had the official rate but casas de cambio had a way higher rate than official, even the ones at the airport, first time ever in any country that that I find an airport currency exchange higher than ATMs.

How are the things now? Thanks a lot.I say cash is a better deal as long as you can secure it. I was getting anywhere between 1900 and 1920. You might do slightly better with the ATMs but then you have to pay all the fees. UNLESS of course you have these amazing FREE debit accounts from Chuck Shwab etc. But that's a whole other thread.

Dealdo
02-16-14, 23:47
I say cash is a better deal as long as you can secure it. I was getting anywhere between 1900 and 1920. You might do slightly better with the ATMs but then you have to pay all the fees. UNLESS of course you have these amazing FREE debit accounts from Chuck Shwab etc. But that's a whole other thread.If that is all yo can get in the exchange kiosks I think ATMs are back on convenience, the official rate today is 2, 017 pesos per USD even with the 3% fee still OK and not being worry of carrying cash. But anybody knows for sure what is the rate today in the casas de cambio?

Because that rate I got it 2 months ago, is it the same still?

Thanks Artist

Artisttyp
02-17-14, 06:41
If that is all yo can get in the exchange kiosks I think ATMs are back on convenience, the official rate today is 2, 017 pesos per USD even with the 3% fee still OK and not being worry of carrying cash. But anybody knows for sure what is the rate today in the casas de cambio?

Because that rate I got it 2 months ago, is it the same still?

Thanks ArtistThis is the rate I received two weeks ago. Hopefully it went up for your sake.

Vegas Jeff
02-17-14, 07:41
ok guys a questions to the experts and updated. last trip was better to exchange our dollars on the casas de cambio. atms had the official rate but casas de cambio had a way higher rate than official, even the ones at the airport, first time ever in any country that that i find an airport currency exchange higher than atms.

how are the things now? thanks a lot.things are back to normal. when i was in medellin in december cambios were higher than exchange rates at 2000. now exchanges are 2020 to 2035 and cambios 1950 to 2000.

if you are in el poblado interdolar, at the entrance to parque lleras, is a no brainer. i have exchanged $2500 many times. no i'd required. in and out the door in 3 minutes. consistently the highest rate.

in centro, on the corner of oriental and 49, there is skyscraper. it is at least 40 stories high. on the second floor there is a cambio. i exchanged $300 and got 1960 just a few days ago.

someone mentioned pacsafe on this forum awhile back. i bought one for $50 and i really like it.

http://www.interdolar.co/

http://www.youtube.com/watch?v=9-wbf-up1li

Dealdo
02-17-14, 17:33
things are back to normal. when i was in medellin in december cambios were higher than exchange rates at 2000. now exchanges are 2020 to 2035 and cambios 1950 to 2000.

if you are in el poblado interdolar, at the entrance to parque lleras, is a no brainer. i have exchanged $2500 many times. no i'd required. in and out the door in 3 minutes. consistently the highest rate.

in centro, on the corner of oriental and 49, there is skyscraper. it is at least 40 stories high. on the second floor there is a cambio. i exchanged $300 and got 1960 just a few days ago.

someone mentioned pacsafe on this forum awhile back. i bought one for $50 and i really like it.

http://www.interdolar.co/

http://www.youtube.com/watch?v=9-wbf-up1lithanks a lot vegas. not a point at all to carry a lot of cash anymore.

DmeHcg
04-14-14, 22:14
Does anyone know which bank offers the highest available amount to withdrawal? I have used citibank atms in Medellíand and if I remember correctly the largest amount a could take out was 400 US. Is that max or standard if not what about the other banks? Thanks in advance

Bbrocs
04-14-14, 22:35
Today. 16:14DmeHcg.

Does anyone know which bank offers the highest available amount to withdrawal? I have used citibank atms in Medellíand and if I remember correctly the largest amount a could take out was 400 US. Is that max or standard if not what about the other banks? Thanks in advance.

Citibank is now max withdraw one shot 2 million pesos. With a 9500 peso bank fee if not a Citibank client

Next highest is banco Caja at 700, 000 peso withdraw. With ATM fee hidden inside transaction.

Third is newer banco Colombia machines with 600, 000 and fee embedded in transaction.

Hioctane
04-16-14, 17:38
Citibank charges ATM fee even if you are a client (maybe you need to be a premier client).

ServiBanca (the green one) is 780.000.

Vegas Jeff
06-17-14, 23:44
For you guys who have upcoming trips to Medellin make sure to bring cash. I just was at Citibank today and rate was 1900 for withdraw. Most cambios are paying almost 2000. Just as recently as February it was the other way around with cambios paying 2000 while the bank rate was as high as 2040.

Hioctane
06-18-14, 16:38
For you guys who have upcoming trips to Medellin make sure to bring cash. I just was at Citibank today and rate was 1900 for withdraw. Most cambios are paying almost 2000. Just as recently as February it was the other way around with cambios paying 2000 while the bank rate was as high as 2040.I'm about to head to Cartagena on Thursday. Are you saying the cambios are paying almost 100 more than the current XE rate of 1896? If so, I'll bring some cash!

Vegas Jeff
06-19-14, 03:58
I'm about to head to Cartagena on Thursday. Are you saying the cambios are paying almost 100 more than the current XE rate of 1896? If so, I'll bring some cash!Yup. Bring Cash. 1997 at both of these places currently.

http://www.interdolar.co/

http://www.unicambios.com.co/

Bbrocs
06-19-14, 15:42
Yup. Bring Cash. 1997 at both of these places currently.

http://www.interdolar.co/

http://www.unicambios.com.co/Yes VJ is right the cambios are paying higher. But in order to see if it's worth it. How much are you exchanging? How much is the taxi round trip to cambio? How safe is the area around the cambio? For me changing a hundred dollars here and there I still use my schwab card at Citibank where the exact rate I figured was about 1900 after they refund the ATM fee. It's 7,000 pesos difference difference on a hundred dollars. Your not going to get very much in Cartagena with $3. 00 dollars any more. Now if your exchanging a $1,000 USD. That's a different story. We exchanged dollars yesterday and I think the rate was 1970 to 1. I never heard of a cambio giving uneven amounts. They always round to the 10th

Almotu
06-19-14, 18:52
How are these cambios able to offer exchange higher than the official TRM? https://twitter.com/trmcolombia.

Poblado cambios are also not convenient for me. Jeff can you save the business card from the place in Centro and post the info here next time? Plus any special requirements to receive the best rate (ie. Needs crisp bills, no tears or folds? Different rates for $20, $50 & $100 bills? Higher rate for bigger amount?

Island Dreamz
06-20-14, 08:23
I'm about to head to Cartagena on Thursday. Are you saying the cambios are paying almost 100 more than the current XE rate of 1896? If so, I'll bring some cash!I just came back from Colombia. There are exchange offices at the airport and at some malls that will actually give you a better rate (1950) because they want your US dollar.

Bbrocs
06-20-14, 18:25
How are these cambios able to offer exchange higher than the official TRM? https://twitter.com/trmcolombia.

Poblado cambios are also not convenient for me. Jeff can you save the business card from the place in Centro and post the info here next time? Plus any special requirements to receive the best rate (ie. Needs crisp bills, no tears or folds? Different rates for $20, $50 & $100 bills? Higher rate for bigger amount?First you have to understand there main business is selling dollars to.

Colombians not pesos to gringos. This is why they can pay more. It's supply and demand to.

Get dollars to sell to Colombians traveling abroad.

If they buy dollars at 1970 or 1960 then turn around selling them at 2000.

It's a nice spread.

No you don't need big bills, perfect bills to get a rate.

You can maybe get 10 more pesos on dollar for changing a few thousand dollars.

Again figure our which is better for you. If you take money out in the states at ATM that charged you $3 dollars.

Then drive in taxi 6,000 pesos in each direction to go to a cambio to get a extra 14,000 pesos.

On $200 dollars. You didn't save anything.

Vegas Jeff
06-20-14, 20:00
How are these cambios able to offer exchange higher than the official TRM? https://twitter.com/trmcolombia.

Poblado cambios are also not convenient for me. Jeff can you save the business card from the place in Centro and post the info here next time? Plus any special requirements to receive the best rate (ie. Needs crisp bills, no tears or folds? Different rates for $20, $50 & $100 bills? Higher rate for bigger amount?As Bbrocs says, it is just supply and demand. If there is too much of one currency in one place the price will adjust to get back to balance.

I have only used two cambios outside of Poblado. One is in the Premium Plaza Mall. It is near the South entrance of the mall. The other is in El Centro on the corner of Calle 52 and Carrera 47. Located on this corner is one of the tallest buildings in Medellin. There are a couple of places on the bottom floor as you walk in.

Member #4394
06-21-14, 06:03
The indication is that the official rate is not strictly based on supply and demand. Thats when there is a black market for currencies. Probably Colombian people have difficulty to buy dollars at the official places due to various regulations?


As Bbrocs says, it is just supply and demand. If there is too much of one currency in one place the price will adjust to get back to balance.

I have only used two cambios outside of Poblado. One is in the Premium Plaza Mall. It is near the South entrance of the mall. The other is in El Centro on the corner of Calle 52 and Carrera 47. Located on this corner is one of the tallest buildings in Medellin. There are a couple of places on the bottom floor as you walk in.

Miami Bob
07-14-14, 00:02
Coming to the Mansion in two weeks. What type of rate will I likely see?

Bbrocs
07-14-14, 02:34
Coming to the Mansion in two weeks. What type of rate will I likely see?1925 to 1 for dollars at the moment at cambios average.

1820-1850 at the ATM'S.

Hioctane
07-15-14, 16:14
1925 to 1 for dollars at the moment at cambios average.

1820-1850 at the ATM'S.Is that a typo? You really only get 1800's at the ATMs now? I take it for granted that Schwab gives the XE rate. I'll have to check next time.

LocoGringo
07-28-14, 14:18
Cartagena exchange rates are usually 10-25,000 lover than Medellin or Bogota. Yesterday I got 1900 when I exchanged $1000. They will try to give you 1800-1850 but if you are exchanging $500 or more use the cambio that is in BocaGrande just before the caribe hotel. ATM's are at 1850 before fees. It was 1940 earlier in July, has started going down.

SlickVick
07-28-14, 17:16
Is it more common to use pesos than dollars when you are out enjoying the nightlife and with girls? Or is it like Tijuana where you're quoted everything in dollars first and using pesos is the option?

I know using their currencies are always better, but I fear that my tequila induced brain cells will mess up on the math and cost me more in the long run.

AddictedToWomen
07-28-14, 22:11
Is it more common to use pesos than dollars when you are out enjoying the nightlife and with girls? Or is it like Tijuana where you're quoted everything in dollars first and using pesos is the option?

I know using their currencies are always better, but I fear that my tequila induced brain cells will mess up on the math and cost me more in the long run.Divide by 2000 and add 10% gets you close enough for government work.

Anywhere that quotes dollars will convert to pesos at some rate they've just pulled out of their backsides. Avoid.

Ransu1
07-30-14, 02:22
What I take from reading these posts is that the cambio market is not relative to the official forex market, and one should research and shop around to find which option is better at any given moment. That said, I noticed a spike in the forex chart where the dollar dropped to 1557 cop on July 3rd and 4th (then went back to the 1850 range). Did anyone in Colombia witness this fluctuation and was it reflected at the cambios?

Bango Cheito
07-30-14, 03:32
I was running errands today and passed by a mall at cra 15 and cll 93 in Bogota. They are right now buying dollars at 1880. xe.com showed the peso in the 1850's all day today.

LocoGringo
07-31-14, 12:38
Let's see, yesterday the peso went to 1880 on the ATM, dropped to 1870 at the cambio, go figure? Looks like it is going up today at the ATM, it's Colombia.

PianoPlayer
07-31-14, 18:10
If you need to get pesos on arrival at MDE airport, just leave the arrivals and head to the departures hall. There is a row of ATMs including a Citibank ATM (see photo). Across the hall there is a currency exchange counter for cash with rates comparable to those in town - 1860 a couple of days ago when I went through.

Almotu
08-01-14, 13:54
FYI for Medellin:

Arrived 7/29 withdrew 300 K from BBVA ATM from Schwab Account. When I got into town, checked my online Schwab balance. I calculated my rate as 1847.85.

Then 7/30 exchanged cash at a cambio on Av Oriental and got 1865 same as Interdolar in Parque Lleras on that day.

RockTimes
08-04-14, 20:25
Just landed yesyerday the Aug. 3rd 2014 the rate is down now at airport, one before custom exit is 1804, the one on the departure hall is 1800.

Vitrea
08-05-14, 10:06
Just landed yesyerday the Aug. 3rd 2014 the rate is down now at airport, one before custom exit is 1804, the one on the departure hall is 1800.Airport rates are always the worst. Just get a small amount there if you need for the cab ride and get the rest from Cambio in Parque Lleras. ATM is next best bet.

RockTimes
08-05-14, 16:53
Thank you for the response.

I did follow this thread a while back, the general consensus is cash better than ATM, now it is reverse, I guess it is swerving left and right and confusing, oh by the way, it is confusing Colombia anyway, is it?

Interdolar in Parque Lleras is the one you refer to perhaps.

I am now on my way to Poblado.

Thank you all for helping this newbie.


Airport rates are always the worst. Just get a small amount there if you need for the cab ride and get the rest from Cambio in Parque Lleras. ATM is next best bet.

RockTimes
08-06-14, 01:25
I go to parque lleras today and use interdolar exchange, I get 1870, few days ago, the cambio at the airport ripped me off at 1800.

King Rob
08-06-14, 22:02
It was $1,878 for me this afternoon using the ATM at the airport in Bogata.

KR

RockTimes
08-10-14, 02:30
Today, I got 1880 COP for 1 dollar at Interdolar Parque Lleras in Medellin.

Vitrea
09-19-14, 15:44
The interbank rate is 1973. Interdollar in Parque Lleras should be giving at least 2000.

Vitrea
09-19-14, 15:58
Thank you for the response.

I did follow this thread a while back, the general consensus is cash better than ATM, now it is reverse, I guess it is swerving left and right and confusing, oh by the way, it is confusing Colombia anyway, is it?

Interdolar in Parque Lleras is the one you refer to perhaps.

I am now on my way to Poblado.

Thank you all for helping this newbie.Sorry I did not see this till now.

Yes it is a bit confusing but there is a logic to it. As a general rule: When you are traveling to countries that don't have a black (or back) market for dollar, ATM is the best. I consider it utterly foolish to carry USD to Europe and exchange at a Cambio.

But countries that have a black market for dollars, it is the opposite. Cambios offer more as they can sell the dollars back to the locals for more. Argentina is an extreme example. ATM exchange rate is 8. 4 pesos but in black market cambios you can get 11-12 pesos.

Back to Colombia: there is demand for black market dollars but not as much as in some other South American countries. The margin here is only 10-15% and not all cambios pass the saving to the sellers of dollars. Airport cambios all over the world prey on the immediate need of the customer and in general are a bad idea.

Aunsa
11-12-14, 19:43
When redrawing on a card, not only does it give very good rates but also you are guaranteed to get real money.

A lot of fakes going around at the moment, so be careful. With 50's, you need to rub it against a blank white paper, if color comes from it, than its real.

Vitrea
11-13-14, 00:21
When redrawing on a card, not only does it give very good rates but also you are guaranteed to get real money.

A lot of fakes going around at the moment, so be careful. With 50's, you need to rub it against a blank white paper, if color comes from it, than its real.I want to make sure I read this correctly; "if the color comes off, it is real". That is counterintuitive. Are you sure? That means that if you stick a 50.000 peso bill in the pocket of a white cotton shirt, it will stain it? Can others confirm?

Shamester
11-13-14, 18:01
US $ is strong against the Colombian currency. US $=$2109.

Hioctane
11-14-14, 17:29
When redrawing on a card, not only does it give very good rates but also you are guaranteed to get real money.

A lot of fakes going around at the moment, so be careful. With 50's, you need to rub it against a blank white paper, if color comes from it, than its real.Someone on the boards mentioned (last year I think) that they got a fake from the ATMs. I don't believe it myself, but he insisted he did not go anywhere else before he spent the money.

Tip. Don't give taxi drivers big bills!

MNPeter
11-15-14, 22:34
I want to make sure I read this correctly; "if the color comes off, it is real". That is counterintuitive. Are you sure? That means that if you stick a 50.000 peso bill in the pocket of a white cotton shirt, it will stain it? Can others confirm?Yes, sometimes the clerk will rub it on your receipt.

Vitrea
12-12-14, 00:25
Enough said. Time to head down to CO.

Vegas Jeff
12-12-14, 03:12
Enough said. Time to head down to CO.Bring your ATM card with you. Only 2200 or so at cambios. With a no fee card the difference is about 5%-10% right now. Even if the bank charges 3%-5% it is still better than exchanging dollars.

In addition, no need to carry money through airports. At some point it will be the other way around but for now plastic is the way to go.

Hioctane
12-12-14, 18:48
The peso is crashing! Should I withdraw out more and save for future trips?

Dccpa
12-13-14, 03:08
The peso is crashing! Should I withdraw out more and save for future trips?I looked at a 10 year chart recently and around $2500-1 is the highest point. The only time the USD was higher than that was at the 2002 peak ($2962-1).

Vitrea
12-13-14, 08:13
Bring your ATM card with you. Only 2200 or so at cambios. With a no fee card the difference is about 5%-10% right now. Even if the bank charges 3%-5% it is still better than exchanging dollars.

In addition, no need to carry money through airports. At some point it will be the other way around but for now plastic is the way to go.Excellent advice.

Cambio make money by selling dollars to locals. The demand for dollars is low now due to high price. Logical if you think about it.

Vitrea
12-13-14, 08:15
The peso is crashing! Should I withdraw out more and save for future trips?I put more money in my Colombian account and converted more now with a future trip in mind.