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Sophia
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I visited Colombia in August 2019

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Americas > Colombia > Useful Info
Submitted on Sep 22, 2019 Useful Info

How to pay for items in Colombia

CASH

  • Colombian Pesos (COP) is the official currency in Colombia. Frequency the dollar sign is used to indicate prices but put in mind that the prices are still in Colombian pesos.
  • Colombian pesos exchange rates fluctuate frequently, as per now US$1 is approx COP$ 3000.
  • Currency exchange can be done at exchange banks in major cities, not all banks in Colombia provide foreign exchange services. Traveler cheques are difficult to cash, the best option is to carry cash.
  • US dollars are rarely accepted here except in top-notch hotels and some parts of San Andres, a Colombian island off the Nicaraguan shore.
  • Note that there are 2 types of coins in Colombia since the country introduced new coins but both the old and new coins are acceptable.

CONSIGNACIONES

  • Cosginaciones ( bank transfers) are commonly used to make payments in rural areas. The recipient gives you their bank account number and always keep your receipt to issue the recipient as proof of payment after making the deposit.

CREDIT AND DEBIT CARDS

  • Credit cards and debit cards are relatively common in Colombia, however, online payments are a new trend here and are only used by major airlines and major events organizers.