Changing money in Peru

Hi Nico!  What amounts are you changing?  I have found that even the stalls on the streets will negotiate if you are doing a few hundred $ or more.   I always use a credit card as that seems to guarantee me the best exchange rates if I don't have Soles.   I avoid the airport as their exchange rates are never as good as I can find in the streets.   Questions 3 and 4 I don't know, but on 5, if you have a credit/debit card, I would think $1000 is more then enough. 

I don't understand the need for $1,000 US to

bring into Peru.  I use a Chase debit card for

soles  withdrawals as needed.  I see no need to

walk around Peru with big money in my pockets.

I ran into problems here in Colombia recently when

my Chase card was the only one accepted at ATM's,

apparently because Banco Guayaquil and CPN co-ops,

which are both Ecuadorian, do not belong to the

same network as is recognized by Peruvian ATM's.

To avoid losing my Chase Card or having it pilfered,

I rarely take it out of my hotel guestroom safe in Colombia

during thus trip, only when getting cash from an

ATM located in the same building as the hotel. 

If I lost the card, I might have to wait a week for

Chase to replace it, making it difficult to obtain cash.

A backup plan is to present my passport or cedula

at a casino and request cash/chips for table games, most

of which I can keep so long as I break even or win

at blackjack.  These chips can often be obtained

at the caja  or cashier.  Otherwise, don't use

casino ATM's as they may offer the least favorable

conversion rates.

cccmedia in Santander, Colombia

Cash seems to be  King in Huaraz.

The hotel I am staying at only charges Us $20 to $30 a night, but I am staying 10 nights.

They say they charge 4% on CC or debit card purchases. And who knows if my fintec cards will work in their machines, as they stopped taking.them in Colombia after 2 years and I can only use them at Davavienda cajeros to take out cash..  So I will pay with cash there.

Not sure how much the Cajeros charge on foriegn card conversions. Nobody answered my detaled questions.

I am bringing $780 in cash  anything else I will have to experiment with cajeros and my fintec card or worst case my Canadiann CC which charges 2% on their end.

Of course I dont know what the street vendors or change houses wil give me as far as change.rate, nor the ATMs.Might be 4% to 6% total included off of the daily posted XE.com.midpoint , or even more as well.Who knows until I try and do the math.

I got a real good rate buying dollars  with COP here in Manizales. Dont know how they do it.

Peru is not Colombia or Ecuador CCC Every place is different, and change over time.

Some extremely rápidly, like Argentina.

@cccmedia you are way more parannoid about losing cards or wallet in Colombia.CCC

I walk around with it all the time like anywhere.

Been  living here for 12 years without a problem.

Though I did have had a fraud issue with my Davavienda account a while ago. Someone lifted 300 mil out.with a mercado Libre purchase.

Think its because I had my card info. In my account with NercadoLibre and they have lousy security. Needless to say I deleted my Mercado Libre account, and changed my Davavienda card and not putting money in my Davavienda nor BanColombia accounts úntil after they do their investigación . I will change my BanColombia card later, as well.

Dont flash my wallet  the.street or am a partier, carry it in the front pocket where its harder to get.

Posters, this thread is about changing money in Peru

so if most of your comments are Colombia-specific,

kindly post on a Colombia forum.

---

My non-USA cards are not being honored here in

Peru, just as they were not honored in Colombia.

So I am down to my Chase Bank card for all CC

transactions and cannot afford to misplace or

otherwise lose it.  So it sits in my hotel guestroom safe

most of the time.  I take it out for hotel extensions

and ATM cash trips and rarely otherwise.

I don't consider that paranoid, but rather prudent,

since any human can misplace or lose an individual

card on any given day.

Until a couple of years ago, I brought my Wells Fargo card

with me and that worked as a backup .. until

Wells informed me it was closing my account for

lack of a legit home address in the States.

cccmedia in Lima

@nico peligro

Yes I like to travel with cash although I have family to be able to transfer some if I needed a large amount.

With cash I prefer the money change offices that are everywhere (although some people swear by the authorised street changers around the banks - was put off them years ago by being tear gassed).

Usually enough change offices to give a competitive rate - which is usually posted on a sign outside.

Airport changers give terrible rates.

CCC is not wrong to be careful these days - particularly Lima - lots of snatch theft.

And definitely calculate the exchange yourself and count the actual amount you have been given very carefully. Had one last year who had rigged his print out hoping people would just walk off with the changed money.

Otherwise yes ATM machines (often inside banks) arent too bad a rate and usually cheaper that a travel agent will charge you for paying with a card. However you lose the insurance with that option.

Buena suerte. And take warm clothes!  : )

@nico peligro

UPDATE

I can easily remove money from several bank cajeros using a

Canadian Fintec card and I an exchange rate withiin 0.5% 0f the Master Card international rate.

So people can bring a no charge card like Capitol One or Charles Schwab or other and use that at cajeros.

Only need maybe a $100 USD in cash at the airport at most to get you started. The change house at the airport ríps you off though..charges 12%.

There might be cajeros at the airport as well..never checked..probanky a rip off as well. All you need is $100 or 350 soles to get started.

The thing about cajeros at least in Huaraz, and I imagine elsewhere in Peru is they only allow 400 Soles per day, but you can go to different bank cajeros, they all apear to give no charge and give good exchange rate..BETTER than in Colombia.