GENERAL INFORMATION
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counterfeit and returns it to you telling you he can't accept it. Two travelers have
reported this scam during the writing of this book.
Exchanging Money
You can exchange money at the airport, but the rate of exchange is not favorable
for travelers. In major cities there are money exchange businesses that give
better rates. In Bogotá you can exchange money at the mall at Parque 93 and
the mall at Usaquén. There are multiple money exchange businesses. If you're in
Colombia on business and are dealing with large money exchange transactions
you need to take precautions. The Colombian National Police will assist with
security escorts for money exchanges to a safe point, upon request from
foreigners.
It's recommended to use ATMs to receive your money in Colombia.
ATMs/ Credit Cards
Colombia has a modern and extensive banking system. There are dozens of
banks and you can find ATMs everywhere. Upon arriving at the airport you can
find multiple ATMs to receive your original traveling money. ATMs in Colombia
accept the same network of ATM cards throughout the world. Still, some
travelers have reported problems with using their ATM in Colombia. This is rare,
but it happens. It's best to carry an extra ATM card to protect from this
happening.
Travelers MUST inform their bank that they will be using their card in Colombia
and other countries where they're traveling. Many banks will shut off access to
cards that are being used abroad. A simple phone call to the bank before your
travels can help avoid this. Banks do this to protect their customers from fraud.
You should also check your bank's transaction fee for international withdrawals.
Many banks have varying rates for the transaction.