Colombia’s currency is the peso (COP), and the first thing to get used to is the zeros: a coffee is 4,000, a lunch 15,000, a nice dinner 150,000. The exchange rate has hovered around 4,000 pesos to the US dollar in recent years (about 3,100–3,200 at our last check — it moves), so a rough “drop three zeros, divide by four” works for quick maths. This guide covers where to get pesos without being fleeced, what cards work, what still needs cash, and the small habits that avoid fake notes and blocked cards.
Pesos at a glance
| Notes | 2,000 · 5,000 · 10,000 · 20,000 · 50,000 · 100,000 (the 100,000 is hard to break; ask for 50,000s at the ATM) |
|---|---|
| Coins | 50 · 100 · 200 · 500 · 1,000 |
| Written prices | “$15.000” means fifteen thousand pesos — the dot is a thousands separator and the $ is pesos, not dollars. Menus sometimes drop the zeros: “15” or “15K” |
| Rough conversions | 10,000 COP ≈ US$3 · 50,000 ≈ US$16 · 100,000 ≈ US$32 (at about 3,150 per dollar) |
Getting cash
- ATMs (cajeros) are the right way. Use machines inside bank branches or malls (Bancolombia, Davivienda, BBVA, Banco de Bogotá); withdraw in daylight; refuse “help”. Most cap a withdrawal at 300,000–1,000,000 COP and charge a local fee of roughly 15,000–25,000 COP on foreign cards on top of your own bank’s fee, so take larger sums less often. Decline the ATM’s offer to convert to your home currency — its rate is worse than your bank’s.
- Exchange houses (casas de cambio) in El Poblado, the malls and the airport arrivals hall change dollars and euros at posted rates; bring clean, unmarked, newer-series bills, because torn or marked dollars are refused. Change only what you need for the first day at the airport.
- Never change money on the street, and do not let anyone “check” your notes for counterfeits — see scams.
Cards and phones
- Visa and Mastercard work in hotels, most restaurants, supermarkets, malls, ride apps and the metro’s card top-up machines; American Express is patchier. Terminals come to the table and ask for the tip before you tap.
- You will be asked “¿cuántas cuotas?” — how many installments. Say una (one).
- Tell your bank you are traveling, and carry a second card: fraud algorithms block Colombian transactions with some regularity.
- Apple Pay and Google Pay work where contactless terminals exist, which is most of El Poblado and Laureles and few street stalls.
- Local transfer apps (Nequi, Daviplata, Bre-B) are how Colombians pay each other; they need a Colombian account, so they are not for short visits.
What still needs cash
Street food and juice stands, market stalls (Minorista, Mercado Arví, the Sabaneta buñuelo counter), small-town buses and Willys jeeps, tips for guides and porters, the rock ticket at Guatapé, the Parque Arví Line L ticket window on some days, and most taxis (drivers accept cards reluctantly). Carry 100,000–200,000 COP in small notes on a normal day, more for day trips.
Fake notes
Counterfeit 50,000 and 100,000 notes circulate. The current series are polymer-window notes with a clear window and a raised print you can feel; hold them to the light and check the watermark. Shops routinely check yours; you may check theirs. Break big notes in supermarkets and pharmacies, not with street vendors.
Budgeting
A comfortable mid-range day — a good hotel, three meals, a tour and transport — runs roughly 400,000–600,000 COP per person; a hostel-and-corrientazo day about a third of that. The trip-cost guide builds the numbers out, and the tipping guide explains the 10% you will see on every restaurant bill.
FAQ
Should I bring dollars to Colombia? A small amount for the first day at most; ATMs with a foreign card are simpler and fairer.
Can I use US dollars in Medellín? Not in shops — pesos only.
Is it safe to use ATMs? Inside bank branches and malls in daylight, yes.
Banknote and payment facts from Banco de la República and bank fee disclosures; rate is indicative and moves daily — check xe.com before you travel. Checked August 2026.
