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ATM Question

Orlando, Florida
6 posts
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ATM Question

If I use a Wells Fargo Credit or Debit card in Colombia to withdraw cash from an ATM, will the exchange rate be any different from what I would get if exchanging in the US beforehand?

The Money Exchange process is the most confusing part so far.... I've already gotten some pesos from my bank for the first day, etc... I'm wondering if it is actually worth it to wait until I arrive in Colombia.

Thanks,

Orlando, United...
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1 post
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11. Re: ATM Question

Banks are the same anywhere and will get you one way or the other. The exchange rate is actually set by visa or master card ... Their website have calculators that let you check the daily exchange rate... The fees are handled by your bank...For ATM I was just hit US$5 by my bank each time I took money and I used different banks in Colombia , all the same fee. So at the end either taking cash and exchanging it at the airport or withdrawing money will come about the same, to me the difference was minimal. It comes to risk... Bringing dollars and the risk of losing them or use a card with the piece of mind that if there is a problem the bank will probably back you up.

Don't use street ATMs, use mall or in store like ATMs to decrease your risk of getting your card cloned. Sadly it quite common!

Edited: 12 January 2016, 13:40
12. Re: ATM Question

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Removed on: 12 January 2017, 16:17
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