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07-16-19 20:50 #5218
Posts: 5466Originally Posted by Jingo10 [View Original Post]
Most expats stick within their comfort zone. That means shopping at Carulla or Exito. It means staying in estrato 5 or 6 neighborhoods. It means air conditioning and clothes dryers. Because of these things, they pay more. Many also look at it as an opportunity to upgrade. They can get a 3 bedroom place for cheaper than the 2 bedroom they had. It's still cheaper, but they don't get to the best level.
All those stores don't have 2 sets of prices. But you can often go down the street to another store and buy groceries for 20-50% less.
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07-16-19 19:23 #5217
Posts: 172Gringo costs
" they say these costs are for locals and expats pay considerably more". That is be. S.
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07-16-19 18:45 #5216
Posts: 185Originally Posted by Villainy [View Original Post]
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07-16-19 04:45 #5215
Posts: 651Numbeo Cost of Living Index
I have attached a link to a site called "Numbeo". If you want to evaluate the cost of living for Colombia (or any where else for that matter) this site will be a big help.
I used it initially to screen various countries and cities abroad that might be a good place to retire and practice a hobby that we all seem to share. It isn't a commercial.
Site, doesn't cost anything, doesn't require a sign up or anything.
https://www.numbeo.com/cost-of-livin...by_country.jsp
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07-13-19 16:16 #5214
Posts: 127Bank robbing
Originally Posted by JjBee62 [View Original Post]
Originally Posted by JjBee62 [View Original Post]
Originally Posted by JjBee62 [View Original Post]
Originally Posted by JjBee62 [View Original Post]
Originally Posted by FunLuvr [View Original Post]
Originally Posted by MrEnternational [View Original Post]
Oh, and mongers shouldn't be sending money to providers who are far away, but handing it over in person.
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07-13-19 04:39 #5213
Posts: 39Retailer reference
When I translate (Google Translate) it seems the women want a "retailer". When they read my profile or I say something nice to them they tell me I am a "Retailer". A man with a job? Smooth talker? Merchant?
Looking for IRL interpretation.
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07-12-19 21:22 #5212
Posts: 5466Originally Posted by FunLuvr [View Original Post]
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07-12-19 20:32 #5211
Posts: 1042Originally Posted by JjBee62 [View Original Post]
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07-12-19 05:16 #5210
Posts: 5466Originally Posted by FunLuvr [View Original Post]
If you're using a no fee card, ATMs are your best option. If you're using a card that charges fees, Casas de Cambios might be a better option.
One other note is that the Davivienda ATM had a maximum withdrawal of 2 million.
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07-12-19 02:41 #5209
Posts: 1042Exchange Rates
Originally Posted by JjBee62 [View Original Post]
Now I am confused by the rate you received at Davivienda. I think you stated in another post that you arrived Sunday. Using my method of calculation, you should have received Thursday's rate, which was 3196. Sunday's rate was 3211. It appears that the rate is determined by the bank that issues the card because I have never had that much of a difference using the Schwab card.
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07-11-19 17:40 #5208
Posts: 15925Originally Posted by Arcangel [View Original Post]
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07-11-19 17:08 #5207
Posts: 5466Originally Posted by Arcangel [View Original Post]
Currently, living in a rural area, my best option has 1 branch 40 km away. A better option puts me 100+ km away from an office, in the wrong direction. And I've found that the farther I live from an actual branch the more likely I will need to visit the branch.
Moving to Europe and commuting weekly to work in the US seems like a bad deal to save 4% on 3 transactions a year, but I would rack up the airline miles.
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07-11-19 16:08 #5206
Posts: 127How to beat the system
Originally Posted by JjBee62 [View Original Post]
My bank in europe gives me a Visa credit card with no yearly fee, no foreign transaction charges and no ATM charges at any ATM worldwide. They don't reimburse any charges that the ATM puts on top, but there are enough free ATMs in Coombia: Banco Pichincha (1000 k per withdrawal), Banco Caja Social (700 k), Davivienda (400 k).
I just checked my bank statement and compared the exchange rate I got to the day's interbank rate. It's always almost the same, less than 0. 5% difference. I got 1 EUR = 3605 COP on 7/7/2019.
So I'm happy with the deal I'm getting. You guys need to shop around for a decent bank.
I get the same rate when using the card to pay for purchases which I rarely do to keep my card out of harm's way. Because my card is mission crutical, and it has bern blocked on occasions, I carry another card as backup. A Master Card from a different bank, also free yearly and worldwide with excellent exchange rate.
The best way to transfer money to a Colombian bank account that I've found is xend.com, a new fintec grom UK. They have great rates and low fees. For Colombia you need to send as USD which Bancolombia will convert to pesos minus about 2%.
Western Union makes me sick, taking from the poor to give to the rich.Last edited by Arcangel; 07-11-19 at 16:22. Reason: Added actual exchange rate
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07-11-19 04:14 #5205
Posts: 5466Money Exchange
Before this trip I decided to fully explore the money exchange issue. Which one really is best? YMMV on this. I don't have a Scwab card. My ATM withdrawal was using a card from a major US bank.
The Medellin airport rate was 2400-$1. That's a cost of 25.1% to exchange money at the airport.
Buying pesos directly from my bank. Their rate on that day was 2755-$1 at a cost of 16%.
Now to the methods I actually used.
A few weeks prior to my trip I sent 1 million pesos to my old roommate. This won't work for most, because most don't know anyone they can trust. My reasoning was to have an emergency fund. If I got robbed, lost my card, or had a bank problem, I'd at least have enough to eat.
Sending Western Union rate was 2966.83-$1 at a cost of 8. 5%.
When I reached Medellin I withdrew 1,020,000 from a Davivienda ATM. Rate was 3011.42-$1. Cost was 6%.
Today I exchanged $300 for 918000, rate of 3060, cost of 4. 5%.
The cost value is how much under that day'srate I received.
I didn't check every casa de cambios. Checked 2 and picked the best rate. Based on my experience, with my bank, the casa de cambio is the best bargain.
If you're getting under 4. 5% cost from your bank, you're beating the system.
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07-09-19 08:18 #5204
Posts: 1281Originally Posted by Zeos1 [View Original Post]