Currency in Colombia
The complete Colombian Peso (COP) travel guide
The Colombian Peso (COP, symbol $ within Colombia — distinguished from USD by context) is the official currency of Colombia. Issued by the Banco de la República (BanRep), banknotes come in COP$1,000, $2,000, $5,000, $10,000, $20,000, $50,000, and $100,000 denominations; coins in $50, $100, $200, $500, and $1,000. Colombia has become one of Latin America's fastest-growing tourist destinations, attracting 5+ million international visitors annually (Cartagena, Medellín, Bogotá, the Coffee Triangle, Tayrona). COP has experienced gradual depreciation against USD — from 2,500 (2014) to 4,000-4,500 (2025) — under managed-float policy.
Cash, cards, and ATMs in Colombia
Colombia is increasingly card-friendly in Bogotá, Medellín, Cartagena, and major tourist destinations. Visa and Mastercard work at chain hotels, malls (Andino, El Tesoro, Santa Fe), chain restaurants (Crepes & Waffles, Andrés Carne de Res, Juan Valdez), and supermarkets (Éxito, Carulla, Olímpica). Amex acceptance is moderate. ATMs at Bancolombia, Davivienda, BBVA, and Banco de Bogotá accept foreign cards with per-transaction limits of COP$400,000-800,000 (~$95-190) and fees of COP$15,000-25,000 per withdrawal. Cash remains useful at small restaurants, traditional markets (Plaza de Paloquemao in Bogotá), street vendors, and tipping. Nequi and Daviplata dominate Colombian mobile money but require local accounts.
Tipping culture in Colombia
Tipping in Colombia is appreciated but not always expected. Restaurants: a "voluntary 10% service charge" is added to most sit-down restaurant bills — Colombian law requires servers to ask if you want to include it (they will say "¿desea incluir la propina del 10%?"). You can decline; if you accept, that's the tip. Taxis: round up to nearest COP$1,000-5,000; Uber/InDriver drivers can be tipped in-app. Hotels: COP$5,000-10,000 per bag for porters; COP$5,000-10,000 per night for housekeeping. Tour guides at Cartagena/Medellín tours: COP$20,000-50,000 per person per day. Spa/salon: 10%.
Best way to get Colombian Peso (COP)
For USD-to-COP, multi-currency cards (Wise, Revolut) deliver rates within 0.5-1% of mid-market. Authorized casas de cambio in central Bogotá, El Poblado (Medellín), and Cartagena tourist areas offer competitive in-person rates — comparison-shop across 2-3 booths. Avoid Bogotá El Dorado (BOG) airport currency exchange counters — spreads of 4-7% above mid-market are common. For substantial transfers, Wise consistently beats traditional bank wires (Bancolombia, BBVA) by 1-3% on total delivered amount. Colombian residents face DIAN (tax authority) reporting requirements for outbound transfers above $10,000 USD equivalent.
Practical money tips for Colombia
- •Use Uber, InDriver, or Cabify in Bogotá and Medellín — significantly cheaper and safer than street taxis (Uber operates in a legal grey area but works fine)
- •Pay tolls (peajes) in cash if driving the inter-city highways — most don't accept foreign cards
- •VAT (IVA, 19%) is included in displayed prices at chain retailers; tourist refund scheme available on purchases over USD$365 from participating stores (claim at major airports)
- •Colombia plug types A and B (same as US); voltage 110V/60Hz — Americans don't need an adapter or voltage converter
- •Carry small denominations (COP$5,000, COP$10,000, COP$20,000) — many small shops and street vendors can't change COP$50,000+ notes
- •Get a SIM card on arrival (Claro, Movistar, Tigo) — 7-30 day plans available for COP$20,000-50,000
- •Bogotá altitude is 2,640m — drink water and avoid heavy exertion on arrival day
Common money scams to avoid in Colombia
Common tourist money scams in Colombia include: scopolamine ("burundanga") drink-spiking in Bogotá and Medellín bars/clubs (never accept open drinks from strangers); rigged taxi meters from BOG/MDE airports (use only authorized airport taxis or Uber); aggressive emerald and souvenir touts in Cartagena Old Town with inflated "tax-free for tourists" pitches; "tour guide" approaches at Plaza de Bolívar (Bogotá) and Comuna 13 (Medellín) that turn into pressure shopping; counterfeit COP$50,000 notes given as change at money changers (use only authorized casas de cambio); and credit-card cloning at small bars and restaurants. Some Cartagena beach vendors quote prices in USD then demand more pesos than agreed.
Frequently asked questions
Can I use US dollars in Colombia?
Some Cartagena and Cartagena-area tourist businesses accept USD at terrible rates (5-10% loss). Most Colombian businesses require COP. Convert at an authorized casa de cambio for the best in-person rates, or use a Wise card. Withdraw COP from a Bancolombia or Davivienda ATM on arrival.
How much cash should I bring to Colombia?
Plan on COP$40,000-100,000 ($9-25) per day in cash for street food, taxis, tips, and small purchases. With cards accepted at hotels and chain restaurants, your card spend covers most of the rest. Colombian ATMs cap foreign-card withdrawals at COP$400,000-800,000 per transaction.
Why does the Colombian Peso depreciate against USD?
USD/COP has gradual upward drift driven by: Colombia's trade-deficit cycles (oil exports vs imports), inflation slightly higher than US inflation, political-uncertainty episodes (Petro government 2022-2026 reforms), and capital-flow volatility. BanRep manages depreciation rather than fighting it — the structural drift is roughly 3-5% annual COP weakening against USD over the past decade.
Is Colombia safe for tourists?
Major tourist destinations (Cartagena Old Town, Medellín El Poblado, Bogotá La Candelaria/Chapinero, Coffee Triangle, Tayrona) are generally safe with standard precautions. Take Uber instead of street taxis. Avoid displaying valuables. Don't accept drinks from strangers. Rural areas (especially in former conflict zones) have ongoing safety concerns — check your government's current travel advisory. The "no dar papaya" (don't give the opportunity) cultural rule means visible valuables invite theft.
What's the best way to send money to Colombia?
For USD-to-COP remittances, Wise consistently offers the lowest total cost (typically 0.5-1% margin). Remitly and WorldRemit compete closely for amounts under $1,000. Western Union has wider spreads (2-4%) but offers instant cash pickup at thousands of Colombian agent locations (Éxito stores, Carulla, Davivienda branches). For Nequi or Daviplata recipients, direct mobile-wallet delivery via Wise partnerships is fastest.
Convert to and from COP
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Exchange rates refresh hourly from Frankfurter (European Central Bank reference data). Travel money information was compiled in 2026 and reflects current cash/card culture, tipping norms, and common scam patterns.