Planning to go to Colombia? Get fully informed about the Colombian currency, the Colombian peso, which you can use to pay for all your purchases. Whether it’s about the form that Colombian money takes, payment methods, withdrawals, or exchanges, it’s important to properly educate yourself before you set off.
In this guide, you’ll learn everything you need to know about currency in Colombia so that you can travel with complete peace of mind.
What is the official currency in Colombia?
The official currency of Colombia is the Colombian peso, issued by the country’s central bank — the Banco de la República:
- Its symbol is: “$,”
- Its abbreviation is COP (Colombian peso),
- 1 euro is worth around 4050 pesos,
- Each peso can be divided into 100 centavos (cents).
Check the latest euro-Colombian peso conversion rate.
What are the coins and banknotes in Colombian currency?
Colombian currency consists of various coins and banknotes, ranging from 50 pesos to 100,000 pesos:
- Coins in Colombian currency: 50, 100, 200, 500 and 1000 pesos,
- Colombian banknotes: 1000, 2000, 5000, 10,000, 20,000, 50,000 and 100,000 pesos.
Send money to Colombia with Western Union
With Western Union, you can send money to Colombia in just a few clicks at a great rate.
How can you pay in Colombia?
In Colombia, you can pay in several ways: cash, bank card, PSE (Pagos Seguros en Línea — secure online payments), or transfer. While cash payment in Colombian currency remains the most widely used payment method, payment by bank card is also very common, especially in tourist areas.
Let’s go over the details of these different payment methods:
- Cash: Cash payments are very common in Colombia, both for small and large expenses. According to a study by the Banco de la República in 2023, they account for 78% of the payments made every month.
- Bank card (credit or debit): This is the second most popular method of payment in the country, and you can make most purchases with a local Visa or Mastercard bank card. Most department stores and other stores, supermarkets, hotels and restaurants accept foreign bank cards. However, check the fees and charges withheld on each transaction to avoid losing too much money.
- PSE: An online payment system that allows payment for purchases directly from your bank account. PSE is especially useful when you can’t use your debit card.
- Transfer: This payment method is very popular in Colombia. It allows you to pay for all physical purchases easily and quickly via a banking app on your smartphone. Transfers are also widely used to send money to loved ones and friends.
To better manage your expenses, it’s recommended to pay for everyday purchases (shopping, souvenirs at markets, taxis, buses) in cash and to pay for larger transactions by bank card. So, consider always keeping Colombian currency on you. If you pay by card, you’ll be asked “¿a cuántas cuotas?,” meaning “how many monthly installments?”. Always answer “una,” meaning “one,” to pay for your purchase in one go.
Can you pay in euro in Colombia?
No, it isn’t usually possible to pay in euro in Colombia, although some international hotels may accept it at generally unfavorable rates. As such, it’s recommended to always pay with Colombian money. However, the dollar is more popular and more readily accepted by certain establishments.
Where can you exchange money in Colombia?
You can exchange your money in Colombia:
- At casas de cambio (foreign exchange counters), which are very common in major cities,
- At Western Union agent locations,
- At foreign exchange counters at airports (often unfavorable),
- At banks,
- At some hotels,
- At some tourist locations.
If you travel outside major cities, you’ll find it difficult to find foreign exchange counters. You’ll need to check whether the available banks have an exchange service. Most importantly, do not exchange your money on the street. As well as it being dangerous, you risk being given counterfeit notes.
Note that traveler’s checks can also be used to exchange your money by cashing them at banks.
As with Argentine currency, you can exchange your money at your bank before you leave, but check the exchange rate and the delivery time (you’ll need to order Colombian currency). However, this option isn’t recommended, as the rate is often very low and the fees high.
Wherever you exchange your money in Colombia, pay attention to the exchange rate being offered, as it will vary from place to place with each institution applying its own rate. Also take into account whether or not there is a fee, so that you get as much Colombian money as possible.
Western Union offers the best exchange rates. We operate throughout the country and offer a safe, fast and cost-effective service, whether you’re changing your euro to Colombian currency or receiving money.
Where can you withdraw money in Colombia?
You can withdraw money in Colombia at ATMs that accept international cards. There are a lot of ATMs at banks, airports, hotels and tourist locations. Withdrawals generally have a limit between 300,000 and 2,000,000 pesos, equivalent to 74 and 494 euro.
For a lot of people, this is the most convenient way to get currency in Colombia and some banks, such as Davivienda, offer withdrawals without local fees. To make safe withdrawals, choose ATMs inside of banks and withdraw your Colombian money during daytime. You should also withdraw large sums to avoid accumulating fees.
On the other hand, avoid making withdrawals at night and avoid ATMs in very touristy areas — as with exchange rates, withdrawal fees can be high. Similarly, usage fees may be applied, meaning that your withdrawal may cost more than you want.
There are a lot of places in Colombia where you won’t find ATMs, especially near beaches in places like Rincón del Mar, Nuquí, Minca, and Palomino, etc. Look up whether there are ATMs or the option to pay by card before traveling to these areas, and plan ahead to bring enough Colombian currency.
You can also withdraw money at Western Union locations in major Colombian cities and enjoy the best exchange rate.
FAQs
What is the Colombian peso exchange rate?
The Colombian peso exchange rate is approximately:
- 1 euro = 4050 Colombian pesos,
- 1 Colombian peso = 0.0002 euro.
Easily convert EUR to COP with Western Union, whatever the amount.
How can I send money to Colombia?
With Western Union, easily send money to Colombia from France:
- Online in a few clicks via our website,
- With our mobile app,
- In person, by going to an agent location.
Your receiver can get the money in cash, in their account (via their Colombian IBAN) or in their mobile wallet.
