Currency Converter and Payment Methods

A practical guide to manage your money during your trip

In Colombia, the payment system is varied, modern and very practical for those who prefer to use cash in their daily lives. This guide will help you learn practical information about Colombian currency, how to exchange your money safely, what payment methods are available and what tips to follow to organize your budget and avoid unforeseen expenses.

What is the official currency in Colombia?

The official currency in Colombia is the Colombian peso, identified by the symbol $ or by its international abbreviation COP. In circulation you will find coins of 50, 100, 200, 500 and 1,000 pesos; and banknotes of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 pesos.

Each banknote has a design that pays tribute to historical figures and the country's biodiversity. For example, the 2,000 peso banknote shows artist Débora Arango and the landscape of Caño Cristales; the 50,000 peso

banknote honors Nobel laureate Gabriel García Márquez and Ciudad Perdida; while the 100,000 peso banknote shows former president Carlos Lleras Restrepo and the emblematic wax palm of Valle de Cocora.

Familiarizing yourself with these banknotes is useful, since prices in Colombia are usually expressed with dots for thousands (for example, $10.000 = ten thousand pesos).

Currency exchange: what you should keep in mind.

Upon arriving in the country, you can exchange your dollars, euros or other currency in

Colombia at banks, authorized exchange houses or specialized points in airports and tourist centers. The exchange rate varies every day, so it is advisable to check the value of the Colombian peso in real time using mobile applications or reliable digital converters, like the one you find at the beginning of this section.

While some hotels or airports offer exchange services, they generally apply less favorable rates. Therefore, a good practice is to exchange small amounts upon arrival and then look for more convenient options in commercial areas. Avoid exchanging money on the street or with unauthorized persons.

Most common payment methods in Colombia.

Cash.

Cash remains the most accepted method, especially in markets, small stores, public transportation and rural areas. Carrying low denomination bills ($2,000, $5,000, $10,000) is useful for daily payments, since many small establishments do not have change for large bills.

2000 Colombian peso banknote

The design of this banknote consists of the image of artist Débora Arango and an illustration alluding to Caño Cristales, better known as the river of seven colors.

5000 Colombian peso banknote

This banknote includes the image of renowned poet José Asunción Silva, a representation of Colombian páramos, a puya plant and a bumblebee.

10000 Colombian peso banknote

In this banknote, the protagonist is anthropologist Virginia Gutiérrez, accompanied by a representation of the Amazon region, the Victoria regia flower and the tree frog.

20000 Colombian peso banknote

This banknote features the image of president Alfonso López Michelsen, accompanied by the channels of La Mojana, the custard apple fruit, the Zenú earflap and the sombrero vueltiao.

50000 Colombian peso banknote

With this banknote, the country pays tribute to Nobel Prize winner in literature Gabriel García Márquez; to Ciudad Perdida, indigenous settlement of the Tayrona; to the burgao snail; and to the hummingbird, as we host the world's greatest bird diversity, such as hummingbirds.

100000 Colombian peso banknote

This denomination features president Carlos Lleras Restrepo, Valle de Cocora and its wax palm, the motmot bird and the sietecueros flower.

Credit and debit cards.

In cities like Bogotá, Medellín, Cartagena, Cali and other regional capitals, you can pay by card in most hotels, restaurants, shopping centers and tourist services. Visa and MasterCard are the most accepted, while American Express and Diners Club may have less frequent use.

Before traveling, make sure to:

• Verify that your card is enabled for international use.
• Check your balance and available credit limit.
• Inform your bank about your trip to avoid security blocks.
• Know the commissions for foreign withdrawals (can range from 3 to 5 USD per transaction) and surcharges for payments in another currency.

When paying by card, whenever you have the option, select the option to pay in Colombian pesos (COP) instead of your local currency, as this will give you a more favorable exchange rate.

ATMs are available 24 hours in major cities and shopping centers, many with English language option. Use those located in safe places, such as banks or shopping centers, and never share your data.

Digital payments and electronic wallets.

In recent years, digital payments have gained great popularity in Colombia, especially among young people and in large cities. Applications like Nequi and Daviplata allow payments from mobile phones, send money between people and pay in many businesses without needing cash or physical cards. It's also possible to use PayPal on some booking and online shopping platforms.

However, these options may not be available in rural areas or small businesses, so it's not advisable to depend exclusively on them. For those who want to explore this option, it's best to download the app beforehand and ensure internet connection during the trip.

Are cryptocurrencies accepted?

Although cryptocurrencies are gaining ground globally, their use in Colombia remains limited. Some booking platforms allow crypto payments, but in general it's not a practical method for daily expenses. If you travel with cryptocurrencies, keep in mind that almost no physical business accepts them.

Other payment methods in Colombia.

Besides cards and cash, there are other available methods such as:

• Efecty: a national network where you can pay for online purchases with cash, useful if you don't have a card.
• Bank transfers (PSE): widely used for online purchases.

VAT refund for tourists.

An advantage that foreign travelers can take advantage of is VAT refund (value added tax, equivalent to 19%) for purchases made during their visit. This applies to products like crafts, jewelry, emeralds, footwear and appliances, among others.

To request the refund you must:

• Make your purchases at stores that offer "Tax Free" service.
• Keep the original invoices and always request that your tourist status be identified.
• Present yourself at DIAN (National Tax and Customs Directorate) offices located in airports or international exit points of the country.
• Bring your passport and purchased products, along with the forms that will be indicated in the process.

Tips for managing your budget.

What currency to bring?

Although you can arrive with dollars or euros, it's most recommended to exchange them to Colombian pesos (COP) to avoid problems in businesses. Dollars are accepted at exchange houses, but not in stores. Bring $100 USD bills in good condition, as deteriorated or very old ones may be rejected.

Where to exchange?

• Authorized exchange houses in Colombia: safe and easy to find in tourist areas.
• Banks: offer good rates, although they only serve on weekdays.

• Western Union: useful if you need to send or receive money from abroad.
• Never exchange money on the street.

How much to spend? Plan your budget.

The cost of living in Colombia varies according to region and type of trip. Destinations like Cartagena or Medellín are usually more expensive than others, like Los Llanos or the Amazon.

December, Holy Week and mid-year holidays are considered high season in Colombia, so the budget for flights and accommodation is usually different from months like April, May, October or November, which are part of the low season.

Before traveling, define your trip style: budget, mid-range or luxury? This will help you divide your budget into categories like accommodation, transportation, food, tours and unforeseen expenses.

Final recommendations

• Combine cash, card and digital payments for more flexibility.
• Book flights, hotels and activities in advance to reduce cash use during the trip.

• Have an emergency fund in case you need to face unforeseen events like itinerary changes, delays or medical expenses.
• Get travel insurance with international coverage.
• Always keep receipts, even if you don't plan to request VAT refund.
• Check prices before paying for taxis, markets or tours to avoid excessive charges.

Colombia is a destination that adapts to all types of budgets, as long as you have adequate planning. Whether you pay with cash, card or from your phone, the country offers you options to live your trip with tranquility, comfort and security.