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ATM or Money Exchanges?

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Hamilton, Canada
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300 posts
188 reviews
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ATM or Money Exchanges?

What is the least expensive means to get chilean peso? We are Canadian but will be carrying some US cash. Are the rates at money exchange reasonable?

The Chilean Central...
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for Chile
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1. Re: ATM or Money Exchanges?

6 points or more at an exchange house for USD.

ATMs: Depending on bank ATM debit card, 0% to 3% exchange rate average or more if your bank charges a per use fee.

Chile banks except for Banco Estado (Cirrus system only) and Banco Security ATMs charge a per withdraw fee of 2,500 to 3,300 pesos and cap each withdraw at 200,000 pesos (exception again is Banco Estado).

As a Canadian, a Scotiabank Canada debit card used at a Scotiabank Chile ATM only incurs a 1% exchange fee and no other fees.

Santiago, Chile
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for Chile, Santiago
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2. Re: ATM or Money Exchanges?

The Chilean peso is a strong currency. So don't expect that the exchange rate will be a bargain. The 200,000 peso (slightly more than $500) limit is per withdrawal not per day. I would advise using ATM's rather than cash.

Michigan
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17 posts
296 reviews
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3. Re: ATM or Money Exchanges?

Hola Toid! we will have only 1 free day in Santiago, otherwise we are on a package tour. What is the minimum amount we can get from the ATM? We only need the Chilean pesos for souvenirs, snacks, taxi, maybe, etc...

Gracias!

Toronto, Canada
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115 posts
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4. Re: ATM or Money Exchanges?

To be honest I don't know. I suspect it might be 5,000 pesos, about US$10.00.

The Chilean Central...
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for Chile
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5. Re: ATM or Money Exchanges?

Be aware that the Chile bank ATMs that charge a per withdraw fee have increased their fee.

The Chile-side fee free ones continue to be Banco Estado (Cirrus-only) and Banco Security. I believe BCI has the highest fee now, $4000-$4500 per withdraw.

Oxon Hill, Maryland
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1,048 posts
66 reviews
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6. Re: ATM or Money Exchanges?

Also, if you are bringing US dollars make sure they are the new bills with no rips, markings, ect. They won't be taken. Also, I've had a problem with $100.00 bills being accepted.

Timmins
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182 posts
2 reviews
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7. Re: ATM or Money Exchanges?

Scotia Bank is now charges a hefty premium per withdrawal, 3,500 pesos per 100,000 withdrawn...

Next time I´ll try Banco Estado....

San Francisco
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114 posts
28 reviews
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8. Re: ATM or Money Exchanges?

Does anyone know the current maximum amount you can withdraw from an ATM per day? I will only have two days in Chile before I go to Torres del Paine so I will need a fair amount of cash at the beginning of the trip.

Santiago, Chile
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for Chile, Santiago
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9. Re: ATM or Money Exchanges?

It is 200,000 a withdrawal. I don't know if there is a daily limit.

Santiago, Chile
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for Chile, Santiago
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10. Re: ATM or Money Exchanges?

It is 200,000 a withdrawal. I don't know if there is a daily limit.