How to pay for things in Colombia

[Sol]

Hi,

I'm aware that ATMs in Colombia get me a good exchange rate (roughly 2300 pesos per dollar.) I've got an upcoming wedding and a couple of other large expenses that I need to pay for and I'm not all that eager to be carrying around that much money in pesos (or dollars, for that matter.) Is there a another way to pay for things in Colombia and get a good exchange rate? Does Western Union, for example, give a good rate? If I have to resort to cash (and the difference is significant - about 15%) are there ATMs that give more cash at a time than 200,000 pesos? Can I walk into a bank with my ATM card and get more cash from the clerk?

Thanks very much.

Sol

[pack]

... in response to How to pay for things in Colombia, posted by Sol on Sep 9, 2001

i always use traverlers checks in colombia

[FenixRises]

... in response to How to pay for things in Colombia, posted by Sol on Sep 9, 2001

Hi Sol,
I am not an expert nor a banker or an international monetary consultant so here goes.
#1 Call your bank and/or credit card company a couple of days before you go and let them know you will be using your(thier) card in a different country.
#2 Do you have a daily limit on your ATM? Because most ATM cards have a daily limit of around $300 for withdraws on that account. If so see if you can have it temporarly increased.
#3 Link your ATM to your savings and credit card as well. This should allow you to withdraw from all three accounts on any given day. At least I think so???
#3 I am not sure but it is possible that the bank transactions aren't handled immediatly. i.e. The money may not be debited from your account at the instant of the transaction.
#4 Go to ATMs owned by different banks etc. withdraw amounts from each, this might allow you to exceed the daily limit, your milage may vary.
#5 There are ATMs that allow withdrawals of 350,000 pesos(or an amount you specify ) but of course that is only about $160, so you should be able to do two of these per day on any one account.
#6 You can do WU transfers online for $15 for amounts upto
$999 per month. Any more than that and the US wants to know whats going on with all this money going to Colombia. Check the WU site for additional info.
#7 Amex Travellers checks might be a good alternative for specific expenses. And they are safe (relativly) and replacable.
#8 Last and most obvious ask da bank.
Fred

[cdrab]

... in response to How to pay for things in Colombia, posted by Sol on Sep 9, 2001

Sol
 I have been through this trying to get as much money into colombia as possible.
I tried getting money out of the banks without using the automated tellers and was refused.
Also carrying cash and trying to convert it at the banks is also a big time wasteing event.
This is what works very well for me.
Find a banco de colombia,  because they will let you take out 500 000 per day per card  at the automated tellers and get yourself 2 debit cards and a credit card with a pin # and this will allow you to get 1 500 000 pesos per day.
Of course that is if the automated teller is working properly. Keep in mind that there is a weekly limit on your cards that can be taken out.
Clint