Thread: Cartagena Reports
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01-14-20 16:11 #9457
Posts: 2513Originally Posted by Hilltopper [View Original Post]
I have a Maestro card, and I am *nearly* (not 100%) sure that, at least in my case, the exchange rate does not change with the ATM, but it is always +1. 5/+1. 75% the daily rate shown on XE or Yahoo. I did this check a few times in the past, and I am going to do that again.
That +1. 5/+1. 75% is applied by MasterCard, but on top of that of course the bank wishes to earn something (the fixed fee applied by most).
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01-14-20 13:59 #9456
Posts: 350Originally Posted by LeyenLouvain [View Original Post]
Davivienda. While they are listed as "no fee", they give you such a poor exchange rate that one is better off with a "fee" ATM unless withdrawing only a small amount.
Bancolombia. Charges an ATM fee.
Banco de Bogota. Charges an ATM fee.
Banco Popular. Charges an ATM fee.
Servibanca. Charges an ATM fee.
Citibank. Charges an ATM fee.
Caja Social. No ATM fee and you get the true exchange rate (one on Av San Martin allows 700 k per pull) used within the last week.
BBVA. No ATM fee and you get the true exchange rate (600 k per pull) used within the last week.
Corpbanca. No ATM fee, but I haven't used within the past year or so.
So the link that Questner provided has mostly accurate information, except that for Caja Social where they say "Unknown", it should read "No Fee", and then for Davivienda where it says "No Fee" it should read "takes high % fee via reduced currency translation rate".
To Mojo Bandit, I can confirm that for the ones I have first hand knowledge of as provided above, where I say "No ATM Fee", it means that that Bank listed does not take an ATM fee regardless of who you bank with. Whether your own back does on your end, well obviously some do (mine doesn't). Given that Pirate has confirmed that Colpatria is also a true "No Fee" ATM, then you can assume that it works just the same: No Fee charge by Colpatria regardless of who you bank with.
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01-14-20 12:14 #9455
Posts: 2513Originally Posted by Questner [View Original Post]
When I withdraw from an ATM ("savings" or "ahorro" in Colombia) in a non-Euro country I am usually presented two options: 1) the amount converted to EUR and 2) the amount in local currency. Interestingly, the exchange rate of the amount converted in EUR (1) is much worse than the rate I get if I opt for (2).
In this (2) case, the Maestro circuit makes the conversion, applying +1.5% (or +1.75%) to the daily interbank rate. This in hard to beat. Most common fees charged by banks and exchange offices is above 4%, if not 10% as in airports.
Interestingly, the reason why some people opts for (1) is that they do not know they are paying 5% more, or they know but prefer to be sure how much they are paying in their currency.
I am now in Indonesia, and therefore I cannot take a photo of an ATM in Colombia and post it, but I can confirm that I have seen that just yesterday.
Finally, the same care must be exercised when paying by credit card. The mobile terminal where the card is inserted (my credit card is Visa) always present the two options:
- with conversion (EUR)
- without conversion (IDR here in Indonesia, COP in Colombia)
ALWAYS be sure that the seller selects WITHOUT CONVERSION!! If they select "with conversion (EUR)", VISA will apply its exchange rate which means you will end up paying at least 5% more.
In the above, I wrote EUR because my home country is in Europe, but I am confident the same happens to you with USD.
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01-14-20 11:02 #9454
Posts: 104Yatcht Party February 29th
What's up fellas if you are in CTG February 29th stop through for yacht party to Cholon. Click the link and place your deposit. Total price is 165 usd that includes liquor and transportation to and from the boat. Hit me private message if you have any questions.
https://cloudlife.wearetitled.com/cartagena
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01-14-20 03:22 #9453
Posts: 1316ATMs and exchanges
Scotiabank / Colpatria website has a link with downloadable pdfs for ATM locations. Usually ATMs don't show their exchange rates, just the amount of pesos to withdraw and a fee.
Visa ATM locator service does not list ScotiaBank Colpatria ATMs but Colpatria only.
All my debit cards are on VisaPlus, and only Mastercard credit cards are on Maestro. I have never seen any machine offering me to reject the proposed exchange rate and choose 'no conversion' - so screenshots are welcome to show how it may look like.
I've found one puntodollar.com location in the city online, maybe will visit to see if the rates are as good as in Bogota or Cali.
I will add BBVA to try them too.
Here are some options in Bocargande:
BANCO DAVIVIENDA S. A. EL LAGUITO EL LAGUITO CALLE 1 NO. 1 A - 98 LOCAL 1 D
SCOTIABANK COLPATRIA MULTIFUNCIONAL BANCA EXPRESS. CENTRO COMERCIAL BOCAGRANDE Carrera 2 # 8-146 Local 119 (This centre also has Davivienda ATM).
Davivienda Bocagrande Cra. 2 ## 9-73. LC. 1-2 open 9 am to 4 pm, Saturday to 12 pm and Sunday closed.
Puntodollar.com Carrera 11 # 39-21 local S-16, open 9 am to 9 pm in CC La Serrezuela (centro), +57 5 6421701.
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01-14-20 00:45 #9452
Posts: 1257No ATM fees for anyone?
Originally Posted by PirateMorgan [View Original Post]
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01-13-20 15:06 #9451
Posts: 350Originally Posted by PirateMorgan [View Original Post]
I've used BBVA and Caja Social for years Cartagena, including each within the last week and there is no ATM fee and you get the true exchange rate. That's all.
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01-13-20 13:29 #9450
Posts: 202Do this
Originally Posted by Scubatoo [View Original Post]
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01-13-20 12:31 #9449
Posts: 172Free ATM
If you listen to Hilltopper. You will get what you deserve. So do this.
So listen CAREFULLY. You want to use the Colpatria / Scotiabank ATM. NOT the Colpatria ATM. Not the Scotiabank ATM. They are different. You want the Colpatria / Scotiabank ATM. It is different. A combination of the two. I THINK it will say on the front that you can take out 2,700,000 pesos each day. I take out 900,000 3 times. Works best for me. Any other use of ATMs in Colombia is dumb. Search around and you will find the 'good' Colpatria / Scotia ATMs. Don't get fooled!
For some reason people on the site keep giving you stupid advice and never change their ways. If you follow my lead you will pay NO ATM fees. You will sometimes receive MORE than the x-rate. But never less than 50 pesos off the rate in my experience.
Just do it.
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01-13-20 11:53 #9448
Posts: 119Originally Posted by Hilltopper [View Original Post]
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01-13-20 11:28 #9447
Posts: 2513Originally Posted by Hilltopper [View Original Post]
I usually opt for Servibanca (the green ones), as they allow to withdraw up to 720 k instead of 600 k (but they charge 17 k as fixed commission, as I believe most others).
Originally Posted by Scubatoo [View Original Post]
So you paid an interesting 11% exchange fee.
P.S.: your auto-corrector changes Cartagena into "Cartegena"?
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01-13-20 06:01 #9446
Posts: 345Currency Exchanges
Just back from Cartegena. The exchange rate at the two booths as you exit the international arrival at the airport were both paying 2900 pesos to 1 USA Dollar. The international exchange rate at the time was about 3250. I had to get some Pesos to take a cab ride into Cartegena, so I did not have any option but to take the exchange. So it cost me about $22 US to exchange $200 US. I did one other transaction inside the Walled City on the street. The exchange was 3000 pesos. I only did $100 US, so that cost me about $7. I used MC for restaurants and other larger purchases. I did not have occasion to check out the banks, but in my travels is usually the way to go. One way to find locations for banks / bank ATMs is to do a googlemaps.com search and bring up the area you are interested in. Then, without changing the map, type in "BBVA" or "Caja Social" and hit search. All the locations within the map will show up. If you change the map area, repeat the search.
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01-13-20 04:29 #9445
Posts: 350Originally Posted by Questner [View Original Post]
Hey, it's not like Mery is looking at her cell phone at all times, replying to texts and emails almost instantly like many folks do these days. The trade-off is that she'll probably live to be a 100 as a result of taking the non-rushed approach to life. .
If you're renting from Mery, she knows the exchange houses that give the best rates. Her taxi driver actually knows a guy who has provided a really good rate in the past.
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01-13-20 04:29 #9444
Posts: 315Originally Posted by Questner [View Original Post]
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01-13-20 04:16 #9443
Posts: 315Originally Posted by TheCarlAnthony [View Original Post]