Travelex at DFW quoted CL$48,000 for US$131. At the interbank rate, CL$48,000 would cost only US$99.11. That is a 32% markup over the interbank rate. Ouch!
The markup drops to 22% if you buy US$500 worth of Chilean pesos and avoid Travelex's US$9.95 fee. It still hurts.
My Wells Fargo bank office quoted a 19% markup. That hurts, too.
My ATM card will mark up the withdrawal by 0%. The markup will be about 5% if I am charged a CL$2500 transaction fee by the ATM owner. I will use my ATM card.
The worst US ATM cards charge 3% plus US$5. The markup would be 8% with such a card, 13.4% if you are charged a CL$2500 transaction fee by the ATM owner.
The ATM markups drop quickly with larger withdrawals. US travelers should use an ATM card to withdraw Chilean pesos. Avoid Travelex.