Here is a chart comparing the currency conversion cost among credit card companies for overseas transactions. Written by Kristin Arnold on Bankrate.com.

http://www.bankrate.com/brm/news/cc/20050624b1.asp

Do not forget, this chart is for PURCHASES made with a credit card. If you can, use your DEBIT card to make withdrawals from ATM's in pesos then pay in pesos. You will get the interbank rate usually with a say %1 conversion fee charged by the institution that does the conversion-not which will not be done by your bank. Also do not forget you are in effect selling dollars to buy pesos. Neither the Colombian bank or my Florida bank where I have direct deposits charged me any fees. Usually most banks use the daily rate quoted in the "Wall Street Journal." Mrs. Gator and I were very recently in Santa Marta apartmento hunting and here are some of the rates we got on ATM's

8/1/05 Banco de Colombia $200.000 cop, cost $87.40 usd exchange rate approximately 2.288.33

8/2/05 Conavi, $100.000 cop, cost $43.76 usd, rate 2.285.19

8/5/04 Conavi, $200.000 cop, cost $87.58 usd, exchange rate 2.283.63

(I usually use Conavi because that is our bank in Colombia. Conovi allows a transaction of no more than $200.000 at a time but you can make several in a row-I have withdrawn three(3) $200.000 cop in a row. One caveat, watch out for large with drawls at say Banco de Colombia or Banco de Republica-sometimes, if it is large amount, you will be given $50.000 peso notes which are hell to use for normal street purchases-too large.

I typically withdrawl COP400.000 at a time, using BofA's partner BanColombia, and as Gator points out they give you 7 x 50.000, 2 x 20.000, and 1 x 10.000 notes.

BofA's official notes to their alliances program (read to me today over the phone by a BofA rep at the 800 number) claims all $5 fees are waived if you use a BofA alliance bank (in Colombia: BanColombia, BanCafe, Banco Popular and one other if I remember correctly).

www.XE.com

Declining dolar disaster! The US dollar is now at 1800cop and declining. When will it end? This might affect some mongers and me personally will be more frugal.

USD-COP 1854.9250 -15.9500 -0.8525% 10:38

I withdraw a $1000 worth at a time, Just in January I was getting at least 2mil with would have gave me 2,000,000 de pesos,, now my same $1000 is giving me 1,800,000 SURPISE you just lost $100 or 200.000 cop

Anybody noticing the Colombian Peso lately? That may decide my next destination...

Jonsie,
Just checked last nite. 2,351 cop = $1.00 US.
I am going mid November. I have heard it is easier to use the ATM.s to get money than carry down US money & exchange it. Is this the case ?
Also I come in around 10:00 at night. I guess the ATM's are 24 hr right ?
Ill be at the Mansion Nov. 13 - 24 anyone gonna be around ?

Don't bring US $ - use the ATM's. Call your bank and notify them you will be in Colombia those dates so you don't get blocked. - Hemp

ATM's are definitely the way to go....there are 2 citibank atm's 2 blocks from mansion....800,000 COP per day....rate is much better than exchanging US$'s....some places fingerprint you and require a form with physical passport to exchange $'s. The ATM's are not open 24 hr, but just take out what you need as u go

Thanks Hemp & Cobra
ATM's all the way.
Since I am getting in around 10:00 or 11:00 PM
What should I do for funds that night ?
Can I get some Pesos here before I go or can I stop at a market & use Dollars ? Seems like just the first night will be a hassle. ???
Thanks again
Stratone

If I remember there is an ATM at the bottom of the hill less than 100 yards from the Mansion. It is inside of a bank and there was a shotgun toting guard at the entrance when I was there a few years ago.

For what it's worth, remember where you are at and leave the bling behind. A couple of Mansion guests were mugged right outside of the property earlier this year.

RG.

Thanks Road..
Yea I will wear mt Costa Rica rubber watch. I always try to blend in, albeit hard as a 270 lb, blue eyed gringo.

(Message edited by stratone on October 25, 2008)

I think (not sure) the Blockbuster (Citibank) ATM will be open. Have your driver wait while you get a few bucks. Have fun in Medellin. Don't fall in love, just lust! - Hemp

there is an ATM at the airport that some of my friends use...after you get your bag just re-enter and head up the stairs to the 2nd floor departures...i gotta believe it is 24 hr

I was in Medellin in September and I used an ATM at the airport upon arrival. There are two ATMs next to each other on the second level. You have to go outside the arrival area and go upstairs to the departure area. I arrived at 11:00 PM and they were working.

Use the ATM in the airport second level, The ATM half way down to MDE at the gas station.. Or the CITIBANKS at Blockbuster or Avenida Poblado are 24hrs. The Citibank on avenida poblado has armed security.. I was taking out 1million a shot.. But a real big thing if you CARE is you banks SERVICE fee,, citibank charges 2% AND a foreign transaction fee.. it adds up, so make sure you check you banks transaction fees.

I do my checking/ATM with a small local bank in Florida and use the Citi ATM's. I am charged a flat $1.75 fee per transaction. Since I travel frequently, the savings add up. With the fee, the larger banks charge $5-$10 per visit.

If you travel a lot, try CapitalOne. There are no fees at all. And my CapitalOne Visa has no foreign transaction fees.

Tomtom,
careful w/ capitol one. I called them, granted they have no foregin transaction fee, BUT, they do have a 1 to 3% $10.00 max cash fee. Thats per transaction.
So the 1% international fee on my B of A, ATM card would end up less than my capitol one charges.
Be at the Mansion day after tomorrow night.
Hope theres work when I come back.
Stratone