Colombia - Money

Colombian Peso (COP) of 100 centavos. A maximum of 500 pesos can be exported and not more than 60 COP exchanged on departure.

The Peso varies its exchange rate with the US dollar (March 2023 - 4825 pesos to the $), so if you agree on having work done on your boat here, it's advisable to somehow lock in the final price.

Withdrawing Money:

ATM’s dispense local currency only; to get US$ it is necessary to
withdraw Colombian Pesos then visit a money exchange. The US$ is not
accepted for any transactions (it is illegal).

ATM's are extremely common, but most only give 600,000 pesos per withdrawal. In a bank, others may see you counting out large sums or you may be marked as a good target.

Colombian banks do not accept telegraphic transfers unless you have a checking account with
them. It is possible to pay marina bills through bank transfer.

It can be difficult to change pounds sterling: US dollars are preferred, particularly smaller notes such as US$20 bills. The exchange rate on actual dollars, however, is quite poor (also, a steep fee may be added) so you may want to either arrange for a bank transfer or get your money from an ATM.

Use great care when banking here, especially outside of the central area. Perhaps use a taxi for return trips to your boat if handling large amounts of cash, or use ATMs and work with smaller sums of money. It's not recommended to use ATMs in outlying shopping malls for large withdrawals.

It is perhaps a good idea to have more than one credit card in case of emergencies and to have copies of your passport.

Cash is necessary for some areas because credit cards may not be accepted.

It is not recommended to use money changers on the street. These are illegal and you will probably be cheated.