Money in Colombia: Practical Guide for Travelers
Are you going on a trip to Colombia and don’t know how the money works? Whether it is the Colombian peso (COP) or knowing how much things really cost and where to exchange cash, sorting your money out can save you the hassle and allow you to enjoy your trip without worry.
In this blog, you will find out all the information that you need, including whether to get Colombian pesos in advance, the safest way to carry money, the average cost of traveling, ATM tips, and some of the common tourist mistakes.
Stick to the end and ensure your Colombian adventure runs smoothly from the first transaction!
Colombian Currency
The currency of Colombia is the Colombian Peso (COP), and it is denoted by the use of the $ sign, which can be confusing to travelers who are used to that symbol meaning, “US dollars”. The denominations are available in bills and coins, with notes ranging between 1,000 and 100,000 pesos and coins between 50 and 1,000 pesos. Due to the fact that the peso is worth a fraction of currencies such as the US dollar or euro, you will find yourself carrying large numeric values when it comes to spending on basic items. At the time of this writing, $50,000 COP was worth $13 USD.
The Colombian government has reprinted its currency in recent years; therefore, you are likely to come across both old and new banknotes. Newer bills have cultural icons, vivid colors, and enhanced security systems such as watermarks and textured printing to avoid counterfeiting. Both the old and the new versions are valid and accepted everywhere. How much should you expect to spend in cash versus your credit card? In Colombia, cash remains king, especially in smaller towns, taxis, local shops, and with street food. But in large cities such as Bogotá, Medellín, and Cartagena, credit cards are widely accepted in restaurants, shopping centers, and hotels. Also, carry small bills as many vendors struggle to break larger notes such as $100,000 COP.
Knowing the following basics and how much money you will need during Colombia Group Tours, daily purchases, tipping, and taxi rides will make all your transactions easier and help you avoid unnecessary confusion during your trip.
ATMs
ATMs are common in Colombia, particularly in large cities and tourist destinations, making them the safest and most convenient method to get cash during your trip. The majority of the machines accept international debit cards; however, you should expect to pay a small withdrawal fee and there are daily limits. We highly recommend choosing ATMs located within malls, supermarkets, or bank branches as they have security. Always withdraw in pesos and never use the ATM convert to your home currency option, which, in most cases, comes with a lower exchange rate. Colombian ATMs let you manage your daily expenses comfortably, without having to carry too much money at a time.
Credit Cards
Credit cards are widely accepted across major cities in Colombia, making them a convenient way to pay in hotels, restaurants, and the majority of the tourist attractions. The most popular cards are Visa and Mastercard; however, American Express and Discover can be used in higher-end establishments or upscale places, but not everywhere. Although card payments have become common, small shops, taxis, street vendors, and rural enterprises still use cash; therefore, it is better to carry some pesos as backup. Some terminals will ask whether you would like to be paid in your home currency. Always pay in Colombian pesos to have a good exchange rate.
Tipping
Tipping in Colombia is not always mandatory; however, it is appreciated. A service charge of about 10 percent is usually added to the bill in restaurants, but it is common to leave a small additional tip as an appreciation of good service. In the case of taxi drivers, it is courteous to round up the fare or leave a few extra pesos, whereas hotel workers and the tour guides usually get modest tips as a sign of appreciation. Being aware of the local tipping traditions can help you easily get through the expenses during your visit.
The Verdict
To have a stress-free trip in Colombia, it is important to understand how money works in Colombia. Whether it is getting to know the Colombian peso or understanding when to use credit cards, being up to date will make all your transactions run smoothly during your trip. Staying informed about safe payment practices, tipping customs, and planning your daily expenses will make your traveling experience more pleasant and worry-free. These things will free you up to the Colombian’s stunning landscape, vibrant culture, and unforgettable experiences that await you.
Using Uber or Taxis
Uber is a great option, especially in major cities like Bogotá, Medellín, and Cartagena. Your ride is tracked, and we recommend setting up a PIN number on your Uber account, so there is verification that you are in the right car. If you take a taxi, ask the hotel or restaurant to call one for you. They will have trusted people that they work with, so you can have an enjoyable ride. You don’t want to be stuck with a bad driver or someone who’s on the phone while driving you.
Frequently Asked Questions
Is Uber safe in Colombia?
Absolutely! Uber is safe in Colombia, especially in major cities like Bogotá, Medellín, and Cartagena. For added security, always check the driver's details, share your trip with your friends, and avoid traveling late at night.
How to travel between cities in Colombia?
Domestic flights are fast and popular for long distances, while intercity buses offer an affordable way to explore at a slower pace. For shorter trips, private taxis and shared shuttles are the best choices.
Why is flying in Colombia the best option for long distances?
For long distances, flying in Colombia is the best option because the country’s mountainous terrain and limited highway connectivity make road travel slow and challenging. Domestic flights are affordable, reliable, and fast, letting travelers cover long distances in just a few hours.
