How will they charge me for exchanging Colombian currency?

Upvote:0

The current exchange is about 1 USD = 2915.6447 COP at Western Union.

If you pay by debit or credit card, the fee is about $20; and if you pay with "Bank account" (don't know what this is), the fee is $8 (but takes some days).

Have a look at it : https://www.westernunion.com/us/en/price-estimator/continue.html

Upvote:2

According to XE.com, today's exchange rate is 1 USD =3,117.01COP

An American expat living in Medellin has this to offer on where to get the best exchange rates. The full article also has very useful information on counterfeit currency (how to identify and avoid).

Exchanging Money

You can use ATMs, banks or money exchange places (casas de cambio) to get Colombian currency.

With ATMs you will usually get the best exchange rate. ATMs are plentiful in Colombia with several normally found in each mall. They are also found in many locations on the streets.

However, be careful of using ATMs located on the street; it is safer to use ATMs inside a mall.

At Medellín’s José María Córdova International Airport you will find ATM machines on the level with the airline check-in desks.

For exchanging currency, casas de cambio sometimes offer slightly better rates than banks and have more flexible hours plus provide quicker service. You can find casas de cambio in many of the malls in Colombia.

You will need a passport or cédula (Colombian ID) to exchange money in a casa de cambio or bank in Colombia.

A few times in the past I have seen casas de cambio with exchange rates slightly better than the rate found on xe.com. But this hasn’t been the case recently with the strong dollar.

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