Colombia (CO)
Colombia offers expats an extraordinary combination of year-round spring climate (especially in Medellín), very affordable living, rich culture, improving safety, and one of Latin America's most welcoming visa systems.
Currency & Money
Practical money tips for living in Colombia.
Denominations
Coins: $50, $100, $200, $500, $1,000. Banknotes: $1,000, $2,000, $5,000, $10,000, $20,000, $50,000, $100,000.
Payment Culture
Card payments (Visa/Mastercard) widely accepted in cities and established businesses. Smaller shops, markets, street food, mototaxis, and rural areas are cash-only. Always carry some COP cash. In tourist/expat areas USD and even EUR may be accepted at an unofficial rate — always use COP for fair pricing.
ATM Tips
ATMs (cajeros automáticos) are ubiquitous in cities. Bancolombia, Davivienda, BBVA Colombia, and Banco de Bogotá ATMs are most reliable. Withdrawal limits: COP $600,000–1,000,000 per transaction. Use ATMs inside banks or shopping malls; avoid isolated street ATMs at night. International card fees: ~3–4% typical. Nequi and Nubank apps allow zero-fee COP transfers peer-to-peer.
Exchange Tips
Best rates: authorised casas de cambio (exchange houses) in Bogotá (Zona Rosa, Centro Histórico) and Medellín (El Poblado). Avoid street cambistas — counterfeiting and short-change are common. Dollar-to-COP rate fluctuates significantly (~4,000–4,300 COP/USD in 2026). Wise and Revolut offer competitive rates for international transfers into COP accounts.
Pro tip: Best apps for expats
- • Wise — Send money internationally at near-interbank rates
- • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
- • N26 — German IBAN, free account, good for EU residents