$US exchange in Chile

[scubacruiserx2]

Where is the better or best place to exchange money in Chile?

Santiago or Valparaiso?

Thanks for your input.

[phlewt]

Are you arriving by air in Santiago? If so, you might as well use one of the changing booths at the airport. There are many banks in Santiago, and many in Valparaiso as well, and they do observe bankers hours, so if you choose to go to a bank, you will need to plan to be there when the bank is open.

 

We use ATM's -- they are plentiful and are open 24 hours.

[scubacruiserx2]

Thanks for the info.

We are arriving by air and will check out the airport and ATM's.

Thank you again.:)

[Wotan758]

Where is the better or best place to exchange money in Chile?

Santiago or Valparaiso?

Thanks for your input.

 

The best deals (exchange rates) is to withdraw from your account in ATMs. Pay as much as you can with you credit card and have only small amount in local cash.

[scubacruiserx2]

Thanks.

I never know, with the fees some of the atms charge etc.

It sounds like the simplest way. I don't want to be running all over looking for banks or a currency exchange.

[venusbello1]

Just as an FYI--I paid no ATM fees when I withdrew money in any of the Chilean cities I visited.

[Geckospot]

There are money changing booths in the mall in Vina del Mar and you get get Chilean cash easily from an ATM.

 

ALSO - just be careful with the currency - I used a ton of money at first, because everything was half the numerical value I was used to. For example, the 20 bill is equal to $40. Also, a common term in Chile for a "bill" is a Luca - 1 luca = 1000 pesos.

 

Good luck.

[greatam]

Where is the better or best place to exchange money in Chile?

Santiago or Valparaiso?

Thanks for your input.

 

And please don't forget the $100.00 US for the airport fee. They are frowning on $100.00 bills (too many counterfeit), so plan on 5 $20.00's per person.

 

I am a frequent Chile/Peru business traveler (in fact, I am in Cusco now). I just use my ATM (Citi). There are Citi banks all over, so the fees are reasonable.

 

MAKE SURE you let your bank know before you leave the USA. Otherwise, you may find you account cut off. And I DO NOT recommend using your ATM with PIN for purchases (not the ATM machine). You can use your ATM WITHOUT PIN (run it as credit) or use a credit card. Too many unsecure ATM/PIN purchase transactions in South America.

[travelingjan]

The group I am going with says you can use your credit card for the $100. fee rather than carrying that extra money. Is this correct??

[greatam]

The group I am going with says you can use your credit card for the $100. fee rather than carrying that extra money. Is this correct??

 

The credit card machines only work sporadically, if the airport personnel want to mess with the machines. And sometimes they just aren't available (the airport people make everyone pay cash). I sure wouldn't take a chance. And most credit cards will charge you not only the actual fee, but also 2-5% transaction charge for a foreign transaction.

 

A couple years ago, I saw a whole group of people trying to use the machines. They weren't working. Then they all headed for the ATM. The ATM ran out of money/quit working after about 7 out of a group of 20. They were all standing around looking dumbfounded. After all, it is South America and there is always manana. Don't know what happened to them, but I bet they had a pretty uncomfortable afternoon and most likely missed a part of their vacation-maybe even their cruise.

 

TAKE THE CASH. If nothing else and the machines are working, pay for your transfer to the ship or your hotel room or something with the cash.

[phlewt]

The credit card machines only work sporadically, if the airport personnel want to mess with the machines. And sometimes they just aren't available (the airport people make everyone pay cash). I sure wouldn't take a chance. And most credit cards will charge you not only the actual fee, but also 2-5% transaction charge for a foreign transaction.

 

Greatam, when was the last time you paid the visa fee to enter Chile?

 

Two months ago we used a credit card to pay the $100 per person visa fee. We did not have to first obtain the money from an ATM machine. The booths to collect the visa fee have the ability to process a credit card transaction.

 

Also of note, the normal 2% foreign transaction fee did not appear on my billing statement. The fee was exactly $100 per person.

 

I think there was a time (a few years back?) that one needed cash, but it appears to me that a credit card is a good way to go at the present time.

[greatam]

Greatam, when was the last time you paid the visa fee to enter Chile?

 

2002-you only pay once for the life of your passport. However, I have made at least 22 business trips to Chile since 2002 and in fact, arrived at JFK a couple hours ago from Lima, Peru. Last week, I was in Chile.

 

Two months ago we used a credit card to pay the $100 per person visa fee. We did not have to first obtain the money from an ATM machine. The booths to collect the visa fee have the ability to process a credit card transaction.

 

I do not dispute the fact that credit card machines ARE AVAILABLE. What I do point out is the machines MAY NOT be working (malfunction/maintenance), your particular card may not work for a variety of reasons (like the magnetic strip is unreadable) or airport personnel choose to shut down the machines when you are there (could be a variety of reasons, one as simple as they are working on phone lines in another part of the airport.)

 

 

Also of note, the normal 2% foreign transaction fee did not appear on my billing statement. The fee was exactly $100 per person.

 

I think there was a time (a few years back?) that one needed cash, but it appears to me that a credit card is a good way to go at the present time.

 

"the normal 2% foreign transaction fee"-there is NO normal forex fee. The charge is what your credit card company decides it is. And a few credit cards do not have ANY forex fees (Capital One and some of the high level Amex cards are a couple)

 

Yes, thing may go just fine with a credit card. But I prefer to be a little bit more prepared for any contingency. It would be a shame to arrive in SCL, have the machines NOT working, the ATM out of money (believe me, if the credit card machines are not working, you won't be the only one trying to get cash out of the ATM) and you have to deal with missing your transfer to your cruise. Why would you take that chance????

[phlewt]

I do not dispute the fact that credit card machines ARE AVAILABLE. What I do point out is the machines MAY NOT be working (malfunction/maintenance), your particular card may not work for a variety of reasons (like the magnetic strip is unreadable) or airport personnel choose to shut down the machines when you are there (could be a variety of reasons, one as simple as they are working on phone lines in another part of the airport.)

 

Prior to our arrival to SCL in 2004, I read here on CC that one needed to pay the Chile visa fee in cash and that no credit cards were accepted. So I had the cash with me -- but I noticed that the booths for obtaining the visas were accepting credit cards for payment. Subsequent to that trip, we needed to renew our passports, so when we went this year, I simply planned to pay with a credit card.

 

I am not sure what you mean when you say "machines". The payment process is the same as paying for a meal with your credit card. The attendant in the booth simply swipes your card and has you sign the sales slip. And there are multiple booths, so if one has a malfunction, I would think you could obtain your visa at one of the others.

 

As for the fee, my visa card has a 2% foreign transaction fee for payment in currencies other than US$. Apparently the processing of the visa fees at SCL is done in US$, so there was no foreign transaction fee. Other purchases I made while in Chile had the 2% fee assessed.

 

So we may agree to disagree, but if it were me, I would be very comfortable using a credit card to pay for the Chile visa at SCL.

[greatam]

Prior to our arrival to SCL in 2004, I read here on CC that one needed to pay the Chile visa fee in cash and that no credit cards were accepted. So I had the cash with me -- but I noticed that the booths for obtaining the visas were accepting credit cards for payment. Subsequent to that trip, we needed to renew our passports, so when we went this year, I simply planned to pay with a credit card.

 

I am not sure what you mean when you say "machines". The payment process is the same as paying for a meal with your credit card. The attendant in the booth simply swipes your card and has you sign the sales slip. And there are multiple booths, so if one has a malfunction, I would think you could obtain your visa at one of the others.

 

As for the fee, my visa card has a 2% foreign transaction fee for payment in currencies other than US$. Apparently the processing of the visa fees at SCL is done in US$, so there was no foreign transaction fee. Other purchases I made while in Chile had the 2% fee assessed.

 

So we may agree to disagree, but if it were me, I would be very comfortable using a credit card to pay for the Chile visa at SCL.

 

Please don't call the fee a "visa". It is a reciprocal fee, which was instituted by Chile after the USA raised the price of entry visa for Chileans to the USA.

 

How do you think your credit card is processed in the payment booth, a restaurant, or a retail store? There is a machine hooked up to a credit card processing center via fiber optic or phone line. Credit card processing machines can be taken off line manually by authorized personnel or a glitch in computer processing, phone lines or fiber optic lines can render the "machines" invalid and unable to process a transaction. The Santiago airport personnel take the machines off line due to glitches in the system (after all, you are in South America, where phone lines/computers don't always work as they should). They simply do not want to "mess" with trying to get the machines to work properly. It is easier to collect cash.

 

Again, the foreign transaction charge is assessed according to the terms of your particular credit card. Some credit cards assess a charge for ANY transaction made outside the USA, no matter what currency the transaction is actually made in. A rip off, yes. But it can and does happen. Mastercard agreements are more prone to assessing charges than Visa. http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

 

I travel internationally a lot (business). I would not travel without thorough contingency planning. And contingency planning entering Chile via air means $100.00 US CASH (for US citizens) as well as your credit card. If the card works, great. If not, at least you have not inconvenienced YOURSELF by not being prepared.

[Geckospot]

I agree with Greatam. And while Chile is more advanced that other South American countries, it is definitely good to be prepared.

 

Another FYI - if you rent a car in Chile, don't expect it to have a full tank of gas. You will be responsible to fill it up and return it empty...

[phlewt]

(after all, you are in South America, where phone lines/computers don't always work as they should)

 

Huh? I gather that you travel much much more than I do, but in the few trips to South America that I have taken, there has never yet been a problem using my credit card.

 

Frankly I am more comfortable using the card than carrying around huge quanties of cash. If one is robbed, the results are far worse if cash was taken than if a credit card is taken.

 

But let's not belabor this. Those who worry that the phone lines and computers will be unreliable should take cash. Those who don't worry about such things (such as myself) should use a credit card.