What Currency Is Used in Cali Colombia
When planning a trip to Cali, Colombia, one of the first questions that may come to mind is, “What currency is used there?”
Well, the official currency of Cali, Colombia is the Colombian peso. Abbreviated as COP, it is the primary form of payment accepted throughout the country.
In Cali, prices are marked with a dollar sign, but don’t be fooled – the price is actually in Colombian pesos. It’s important to familiarize yourself with the denominations of Colombian currency to avoid any confusion during your visit.
So, how do you exchange your money to Colombian pesos? And what are the current exchange rates in Cali?
In this article, we will explore the ins and outs of currency in Cali, Colombia, including the denominations of Colombian currency, exchanging money in Cali, ATMs and banking options, tipping customs, and much more. By the end, you’ll be fully prepared to manage your travel money in Cali with ease.
Key Takeaways:
- The official currency used in Cali, Colombia is the Colombian peso (COP).
- Prices in Cali are marked with a dollar sign, but they are in Colombian pesos.
- Colombian currency comes in denominations of bills and coins.
- Most banks in Cali do not offer currency exchange services.
- ATMs are widely available in Cali, but it’s important to be aware of fees and limits.
Denominations of Colombian Currency
In Cali, Colombia, the denominations of Colombian currency include bills in various denominations, as well as coins. The bills are available in denominations of $1,000, $2,000, $5,000, $10,000, $20,000, $50,000, and $100,000 Colombian pesos. On the other hand, coins in Colombia come in denominations of $50, $100, $200, $500, and $1,000 Colombian pesos.
It’s important to note that there have been changes to the Colombian coins. In 2016, the coins underwent a makeover, which means that you may encounter two different versions of the same coin amount in circulation. To further clarify, the equivalent of cents in Colombian Spanish is known as “centavos.”
With this understanding of the denominations of Colombian currency, travelers can be better prepared when dealing with their finances during their stay in Cali, Colombia.
Exchanging Currency in Cali
When visiting Cali, it’s essential to have local currency on hand for your expenses. While most banks in Cali do not offer currency exchange services, you can easily find money exchange establishments throughout the city. These money exchanges are also commonly found in other major cities in Colombia, including Cali.
It’s important to exercise caution when exchanging money on the streets, as this option may not be the safest or most reliable. There have been instances of counterfeit bills being circulated, so it’s advisable to exchange your currency at reputable establishments. Avoid the risks and inconveniences by choosing a reliable money exchange for your currency needs in Cali.
An alternative option for obtaining cash is through Western Union offices, which can be found in major cities, including Cali. Western Union allows you to wire cash from abroad, providing you with a secure and convenient method of accessing money during your stay.
In summary, when in Cali, it’s recommended to visit a trusted money exchange or use available Western Union services for your currency exchange needs. Be cautious of counterfeit bills and opt for reputable establishments to ensure a hassle-free experience. With these resources, you can easily obtain local currency and enjoy your time in Cali.
ATMs and Banking in Cali
ATMs are widely available in Cali, making it convenient for visitors to access cash when needed. Whether you’re exploring the city or heading to remote areas, you’ll find ATMs scattered throughout, except in the smallest towns. These machines provide a reliable way to withdraw money during your stay.
When it comes to withdrawing cash, using a bank ATM card is the recommended approach. Bank ATM cards are almost universally accepted at ATMs in Cali, ensuring hassle-free transactions. However, it’s important to keep in mind that withdrawal fees can be relatively expensive and may vary depending on the bank you’re using. Be sure to familiarize yourself with any potential charges to make informed decisions about your finances.
Throughout Colombia, including Cali, there are usually limits on how much you can withdraw from an ATM in a day. Typically, the limit is around COP$1,000,000. This limit is in place to safeguard your funds and prevent unauthorized access to your account.
Alternatively, credit and debit cards are becoming increasingly prevalent in Cali. Using cards for payments and transactions offers convenience and security. However, it’s essential to check with your bank beforehand to understand any additional fees or charges that may apply to foreign transactions. By being aware of potential costs, you can plan your expenses accordingly and avoid any surprises on your bank statement.
To ensure uninterrupted card usage during your time in Cali, we recommend notifying your bank of your travel plans. This proactive step helps prevent any temporary holds or issues with using your card internationally. By informing your bank in advance, you can enjoy a seamless banking experience throughout your travels.
Tipping in Cali
When it comes to tipping in Cali, there are a few customs and service charges to keep in mind. In most sit-down restaurants, a 10 percent service charge is automatically included in the bill. While wait staff are required to ask if you would like to include the service charge, it’s always a good idea to double-check. Tipping is not expected in bars or cafes, but you may come across tip jars that are becoming more common.
It’s important to note that international visitors are often expected to tip more than locals. However, tipping is not customary for taxi drivers, although rounding up the bill is appreciated for exceptional service. When it comes to hotels, a tip of COP$5,000 is usually sufficient for porters, unless there is a large amount of luggage.
Remember, tipping is a personal choice and should be based on your satisfaction with the service provided. It’s always a nice gesture to show appreciation for good service, but the amount you tip ultimately depends on your budget and level of satisfaction. In Cali, tipping is an opportunity to reward exceptional service and show gratitude for a job well done.
Banking and Payment Options in Cali
When it comes to managing your money in Cali, there are several convenient banking and payment options available. Let’s explore the different methods you can use for seamless transactions during your visit.
Bank Transfers in Cali
Bank transfers, also known as “consignaciones,” are a popular choice for paying hotel reservations, tour packages, or entry to national parks in Cali. With this method, you can deposit the required amount directly into the recipient’s bank account, eliminating the need to carry large sums of cash. To ensure a smooth transaction, make sure you have the recipient’s bank account details and specify whether it is a checking or savings account. Depending on the establishment, you may need to provide identification and fingerprints for security purposes.
Credit and debit cards are widely accepted in Cali, making it convenient for both locals and international visitors. When making a payment, it is important to specify whether you are using a credit or debit card. Major credit cards like Visa and Mastercard are commonly accepted, and some establishments may also honor American Express and Diners Club. This payment method offers ease and security, allowing you to keep track of your expenses without the worry of carrying excessive cash.
Payment Options in Cali
Other payment options such as mobile wallets and online banking are also becoming increasingly popular in Cali.
These digital platforms allow for quick and convenient payments for a variety of services, including transportation, dining, and shopping. Mobile wallet apps like PayPal and PayU are widely used, providing a seamless payment experience through your smartphone. Online banking options offered by local banks can also be utilized for secure and hassle-free transactions.
In closing, whether you prefer the traditional method of bank transfers or the convenience of paying with cards or mobile wallets, Cali offers a range of payment options to suit your needs. These reliable and efficient methods ensure a smooth financial experience during your time in this vibrant Colombian city.
Value Added Tax in Cali
Non-Colombian visitors in Cali are entitled to a refund of value-added taxes for purchases on certain items if the total purchases exceed COP$300,000. To claim your tax refund, it is important to follow these steps:
- Save your credit card receipts for qualifying purchases.
- Fill out Form 1344, which is available at the DIAN office.
- Submit the form to the DIAN office at the airport before your departure.
In order to ensure a smooth process, we recommend visiting the DIAN office before checking your luggage as the purchased items may need to be presented. Please note that the process for tax refunds can be complex, so it is important to carefully follow all the necessary steps to ensure success.
For more information on value added tax in Cali and claiming tax refunds, please visit the official website of DIAN.
Conclusion
In conclusion, when traveling to Cali, Colombia, it is important to be familiar with the local currency, which is the Colombian peso. Understanding the denominations of Colombian currency and the current exchange rates will help you navigate your way through Cali smoothly.
While ATMs are widely available in Cali, it is recommended to use your bank ATM card to withdraw cash. Be mindful of any fees or limits associated with ATM withdrawals to avoid any unexpected charges.
When it comes to tipping, consider the local customs. While a 10 percent service charge is often included in sit-down restaurants, it is not expected in bars or cafes. Remember to round up the bill for taxi drivers and offer a tip of COP$5,000 to hotel porters.
For currency exchange, it is advisable to visit reputable establishments rather than exchanging money on the streets. Counterfeit bills are a concern, so exercising caution is important.
Payment options in Cali include bank transfers and the use of credit and debit cards. Major cards like Visa and Mastercard are widely accepted, providing convenient options for transactions.
Non-Colombian visitors may be eligible for tax refunds on certain items. Remember to save your credit card receipts and follow the necessary steps to claim your refund before departing from Cali.
With this information, managing your travel money in Cali, Colombia will be a breeze. Have a wonderful trip!
