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I took a taxi (Metered) from Poblado to Centro for $7 and went to a casa for $14 and had lunch for $2.50. I was buying snacks of the street vendors for 40-75 cents.
Things are getting expensive here, I may have to stay in NY where a taxi from Queens to Midtown is only $40.
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[QUOTE=Luver Of Chicas]The fees I've seen:
Suntrust charges US$5, Etradebank charges $0, so they are the best if withdrawing money. Most internet only banks will credit you back the charge so the withdrawal is free.[/QUOTE]E-trade doesn't charge you because they give you a shitty exchange rate, so when you look at it that way you are still being "charged" 3-4%
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[QUOTE=Bango Cheito]E-trade doesn't charge you because they give you a shitty exchange rate, so when you look at it that way you are still being "charged" 3-4%[/QUOTE]I reviewed my Etrade bank statement, I withdrew 100,000 pesos on December 30, 2007 from BBVA bank and my etrade statement shows $49.95, that is an exchange rate of 2,002 pesos to US$1. My info shows the exchange rate on that date was around 2000 pesos + or - 10 pesos to the US$1 so not sure where your getting the 3-4% charge.
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Are you using xe.com's rates or something similar as a benchmark?
I didn't get an e-trade account because the guy trying to get me to sign up admitted that they give a shitty exchange rate.
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[QUOTE=Malodr]I took a taxi (Metered) from Poblado to Centro for $7 and went to a casa for $14 and had lunch for $2.50. I was buying snacks of the street vendors for 40-75 cents.
Things are getting expensive here, I may have to stay in NY where a taxi from Queens to Midtown is only $40.[/QUOTE]14K sounds a bit high from Poblado to Centro.
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Pesos
[QUOTE=Malodr]I took a taxi (Metered) from Poblado to Centro for $7 and went to a casa for $14 and had lunch for $2.50. I was buying snacks of the street vendors for 40-75 cents.
Things are getting expensive here, I may have to stay in NY where a taxi from Queens to Midtown is only $40.[/QUOTE]The ride to Centro is 7k pesos. Which is about 3.50. How can these guys make a living. $14 is about 28k pesos. Is that casa in another city? Bello is 30minutes away and it is a 15k taxi ride.
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[QUOTE=Tom 33]14K sounds a bit high from Poblado to Centro.[/QUOTE]You are right, I think it was 8,000 actually.
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[QUOTE=Bango Cheito]Are you using xe.com's rates or something similar as a benchmark?
I didn't get an e-trade account because the guy trying to get me to sign up admitted that they give a shitty exchange rate.[/QUOTE]I use gocurrency.com for my rates. And they have good travel info.
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[QUOTE=Bango Cheito]Are you using xe.com's rates or something similar as a benchmark?
I didn't get an e-trade account because the guy trying to get me to sign up admitted that they give a shitty exchange rate.[/QUOTE]I went to xe.com and looked up the historical rate on December 30, 2007, the rate was 2010 pesos to the dollar on that day, so my cost was 8 centavos off the midday rate vs the 2002 rate used or a 0.3% difference.
I've been using Etrade for over 15 years mainly in Brazil and Colombia and I swear the rate has always been nearly spot on the official rate with no extra ATM fees, actually they get charged sometimes, but Etrade credits them back as that's their deal, no ATM fees.
A lot of the time I keep cash in the savings account they offer at 5.05% and then log on somewhere and quicktransfer it over to my checking.
Maybe the Etrade guy was referring to their global trading account, I admit on there when you covert US$ to buy stocks in a foreign currency they ding you on the exchange rate.
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That's great info. That guy was an idiot in that case, I woulda signed up that very day. :P
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[quote=malodr]i took a taxi (metered) from poblado to centro for $7 and went to a casa for $14 and had lunch for $2.50. i was buying snacks of the street vendors for 40-75 cents.
things are getting expensive here, i may have to stay in ny where a taxi from queens to midtown is only $40.[/quote]it is getting expensive here. the metro went up to 1400 for one ride and 2550 for 2. no more 10 ride tickets. but still cheraper than the taxi.
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So much for 2000/$
[url]http://www.cnn.com/2008/WORLD/americas/01/09/colombia.rebel/[/url]
I suppose I should be happy they're making progress. Tho everytime they make progress the exchange rate tanks a little more.
Strong peso makes me a sad panda :(
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Hey guys. Thought I'd share the information I learnt over the past few days as I'm considering purchasing a house in Colombia.
In short the best option for financing is to obtain the line of credit wherever you live. Much better rates than in Colombia PLUS you don't need a co-signer and you repay with your own currency. Move your $ to Colombia using Bancolombia (or other colombian bank). Called today and their exchange rates was what's posted on xe.com. 0. 5%. That's right 0. 5%. Much better than the 3. 5% quoted by other institutions. Also they have special individuals that deal with foreign investments. Call the Gerencia Comercial Filiales del Exterior for the area you're interested in.
[url]http://www.bancolombiacayman.com/cayman/serCliente/oficinas/oficinas.asp[/url]
As for the form 4&11 - the bancolombia individual I spoke with knew all about it and will process it with you.
Hope this helps!
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[QUOTE=Gimmedub]Hey guys. Thought I'd share the information I learnt over the past few days as I'm considering purchasing a house in Colombia.
In short the best option for financing is to obtain the line of credit wherever you live. Much better rates than in Colombia PLUS you don't need a co-signer and you repay with your own currency. Move your $ to Colombia using Bancolombia (or other colombian bank). Called today and their exchange rates was what's posted on xe.com. 0. 5%. That's right 0. 5%. Much better than the 3. 5% quoted by other institutions. Also they have special individuals that deal with foreign investments. Call the Gerencia Comercial Filiales del Exterior for the area you're interested in.
[url]http://www.bancolombiacayman.com/cayman/serCliente/oficinas/oficinas.asp[/url]
As for the form 4&11 - the bancolombia individual I spoke with knew all about it and will process it with you.
Hope this helps![/QUOTE]Avoid Bancolombia at all costs. I used them for a purchase in Jan. Of last year. Those motherfuckers put me through hoops that I still can't believe.
They refused to allow me to open an account 3 different times over 2 years. And I had a current Colombian cedula each time. I finally had to have the money wired into my novia's account.
Then about 9 million pesos was stolen from that Bancolombia account. Bancolombia told us that it would take up to 6 months to get the money back to me. It has now been 3 months, and I have heard nothing.
I recommend trying BBVA or Davivienda.
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[QUOTE=Tom 33]Then about 9 million pesos was stolen from that Bancolombia account. Bancolombia told us that it would take up to 6 months to get the money back to me. It has now been 3 months, and I have heard nothing.[/QUOTE]Have you tried making a complaint to the ombudsman? Got fast results when we tried it.