Again about changing money
Hi all.
I see that my post started almost a thread, mostly disagreeing with my suggestions.
Although nobody of you wrote anything wrong (in my modest experience), I wish to point out two things, hopefully to make you considerate better the value of my advice.
Moreover, I want to reassure you that I agree that *anywhere in the world* I experienced that the rates at airport exchange boxes do approach a robbery. Well, Colombia was an exception (see below).
1) Exchange rate.
Dodger Bulldog wrote:
"When I was there in December, the official interbank rate according to xe.com was 2237, and through the ATM I received a rate of 2221. Close enough."
I was there in the first week of December too. The exchange rate at the official exchange boxes at the airport was 2200, with NO added commission.
It is 1% less than the DB's ATM rate, which probably includes some commission as well.
My hotel was offering something like 2100/2150.
A lady near museo del oro offered me something like 2230.
(maybe with some commission).
As you see, changing at the Bogota airport is still convenient, contrary to what happens usually in airports.
2) ATM
Winner71 wrote:
"You need to set up a bank that doesn't charge fees for using another banks ATM. "
Ehehe, this is the bug. I guess you are all Americans. I live in a country of European Union. My bank account does not offer me this feature!
The only way I have to get money from an ATM abroad (or probably extra-EU) is using the "cash advance" feature of credit cards like VISA.
It charges 4% commission.
In most countries, this is still nearly competitive with the rate+commission offered by banks or small boxes, so using ATM is advisable (and I DO use ATMs, btw).
In COlombia, I made some calculations and I decided to change some money at the airport and to take extra cash from ATMs.
I hope my point is clearer now.
Bye all.