Actually as a colombian myself, let me tell you that you are making a huge mistake. Never put big bills with smaller bills together in the same pocket or wallet. Always Keep the big bills in your socks or a hidden pocket and the small bills handy. I think the reasons for doing that are pretty self explanatory so I won't elaborate on that. Stay safe.
In my experience being in Medellin for about 2 weeks, yes it IS possible to spend 2,000 in a week if you want to live the absolute most richest 5-star white table lifestyle. For the first 2 days I stayed in the nicest hotel in Medellin and it was about $250 a night. So yeah it IS possible, but tbh crazy AF to come here and live like that, if you live normally you can save SO much money.
My thoughts the same. Even though I have never been to colombia, I've talked to people from colombia and been doing some research. I'm the type of person that doesn't care too much about the hotel so I would choose a moderate priced one where it's under 100 dollars a night. And food wise really just stick to street food or mom and pop shops. So idk but I believe in a week I can keep it at about 1,000 dollars.
Well done, and you run exactly as I do there. I never carry a wallet, but only cash, 1 card, and copy of passport and backup phone at night. I always make sure I have 60-100 USA dollars on me in the event I get robbed, for the exact reason you mentioned. Keep your max daily limits reasonable on your runaround card in case you are escorted to the ATM by a bad guy. Have your big card for super large ATM withdrawals at a safe location for the big withdrawal each month for rent etc.
Keep the big dollar account in a cardless account and transfer from there smaller amounts into account with ATM card to be withdrawn when needed. Keep your cash in a pouch out of sight (I keep it near my precious part) and smaller bills in front pocket. Keep everything else in your safe. Be careful who you invite home, better to stay in a hotel for a night if you have company. Stay safe on your trip.
Great advice. I'll be going to Medellin soon, and learning more about the culture is very important. In USA, I rarely ever use cash, and don't even think about being somewhere that prefers cash over credit. Thanks, David.
Thus is just too much caution ⚠️ 😢sad really, Colombia is a great country but the rate where foreigners are getting drugged, robbed, k!!lled , you can’t even hold your phone and be surfing freely when you are out and about and not getting your phone snatched from you! Is too much hassle, people should look elsewhere to visit. You don’t get this even in the worst places in Northern Europe or America. You gonna have to be on extremely high alert all the time, and that can add to stress, you go on vacation to relax and recharge and not to be be worried with anxiety about your presence of being a gringo in Colombia 😢. The government should step up to stamp these out to save tourism in Colombia. In Thailand, is not like this. And they are also poor and a developing country
Been robbed twice in South America had a throw down dummy wallet threw it down and ran worked both times. I do 2 VISA credit cards in each shoe Get the best exchange rate of my dollars can dispute all transactions. Has saved me lots over time.
David, these are excellent informational videos on Colombia (not just this one, but the recent ones you've done the past few months). Only someone who's spent a lot of time in the country has this in-depth knowledge. Keep it going!
When I lived in Colombia in 2004-2007. I always kept a few hundred dollars of 10 and 20K bills at home. I also could never get the hang of the coins. My solution was to have a coin dish in my entrance way. Every day a dropped my change into it. Once a month, I made little baggies of $5K and paid my taxi fares with them. Taxistas were always very happy, to get them!
In Colombia I usually kept about 200mil in my wallet, one 50 plus an array of smaller bills. The rest of my 50s were rubber-banded with my backup dollars in my front pocket, underneath a bandana. This wad was never taken out in public. One tip to avoid pickpocketing in risky situations (i.e. standing at a food stall with crowds passing behind you) is to wear your shirt untucked and pull it tight in front with one hand. Pickpockets are not dumb, they won't try if they clearly won't succeed.
This is a good video. In Jamaica you're raised to have money in multiple pockets. If you get pickpocketed then you only lose a fraction of your cash. This is for locals. Tourists don't frequent areas like downtowns and street markets where these things are more prevalent. Truth is as a tourist they'll beg instead of steal.
Hi, great channel - I find your advice really helpful - I go to Colombia quite often to be with my Venezuelan friends - my Spanish is getting much better but I still sound like a gringo so when my friends order me a taxi to go back to my hotel or Airbnb at night using indriver they tell me don’t talk to the taxi driver - you don’t know him and you don’t want to let him know how much of a tourist you are so the less you talk to him in gringo Spanish - the safer you will be.
Also, make copies of your credit card, passport and any other important documents. Before going to Colombia let your credit card institution know that you'll be traveling there so they could note take that down on your records and not freeze your card because it's being used in a foreign country. Keep some money in your pocket, in your socks and other hidden compartments.
I never been to Colombia and I’m planning to go the end of October by myself , but after watching this video and the 10 things not to do video 🤔 , I believe I need to think twice about it .
In 2019 I went to Medellin for a week. I thought I’d need a lot of cash so I pulled out something like $400 worth. I was staying in a nice neighborhood (conquistadores), I got a local SIM card, did normal touristy stuff, ate out every meal, took taxis most places, bought some clothes and souvenirs. After paying cash for the taxi to the airport I realized I still had 500,000 pesos. I bought some overpriced coffee beans and a meal at the airport, but still left with 350,000 pesos (which at the time was about $100). I can’t imagine trying to spend $2,000 in a week. Things are just so cheap.
@@geraldcardenas9571 It's been a few years for me, but if you already have your hotel covered, $500 is way too much. I guess I didn't do any clubbing, but eating, drinking, transport, etc. You're gonna be hard pressed to spend more than $50 a day. Most ATMs I came across had a limit of around 800,000 COP (around $200 usd). If I was you, I'd just withdraw that amount and see how far it gets you... my guess is probably your whole trip.
This is an excellent video bro. Awesome tips. A lot of travelers don’t understand how to use and spend money in Latin America. There’s a lot of adjustment coming from USA. I spent 4.5 months in Latin America across 6 countries earlier this year and everytime getting adjusted to exchange rate and ATM and buying small things knowing when and where to use your card. It’s all education. Argentina was the worse for me. Just brutal for Americans USA dollars. I didn’t do enough research and made mistakes my first day there. But I learned along the way. Stay up bro 👊🏾
Glad you made this, as I was wondering when to do exchanges or how much cash to keep on you. I figured you just go to the ATM if you don’t have a local bank account. And I see you finally got to remove that bandage from your finger.
I live in pereira and I keep no more than 200,000 pesos on my person. I get a lot put at the bank and take it to my apartment because I don’t wanna do a bunch of withdrawals because of fees
Depending on how your bank’s fees work, I’d say take out as much cash as you’re comfortable taking out in one transaction and then store some of it away if you need to. Wells Fargo charges $5 per withdrawal whether it’s 20,000 pesos or 300,000 pesos, so might as well take out more money in fewer transactions.
omg, this was hilarious "enough so they know the have robbed enough, a good day's work"🤣. I will be in Medellin in October as my husband and I travel through Central America and your tips are appreciated!!
Peripheral vision is important when sitting on hot coals while guarding a stash of cash with your back to the public, haha. Useful tips about money in Colombia, thx Dave. I have been following your channel, amazing variety of topics, incredibly creative. Keep on trucking and tell us about live over there.
I think I have been doing it right after watching this. I have been on Colombia for a week and a half and I have been taking out $300.000 pesos and using that money as long as I can. When I am low or I know I need to pay for the bus to another city, I make sure I have enough cash. I used my card like three times and that was at the grocery store and pharmacy. I think the only time one will spend $2000 in like a week is if they do tours and stuff, but still too much. Everything is cheap and I do things on my own, so I won’t be spending $2000 in the 3 weeks I am going to be here in Colombia.
#1 RULE: NO DAR PAPAYA When I would walk around downtown/plaza botero/san Antonio I would never take out my wallet while walking the streets. I kept my cash separately in a different pocket (never using bills larger than 20,000 peso) bc I never wanted to make myself a target. If I was indoors at a nice restaurant in poblado, I would use my wallet normally like I do in the US.
@@ej1692 if you're wearing athletic shorts that have loose pockets (like basketball shorts) yes, having too many bills can get messy. Most ppl in Medellín wear well fitted pants, so things in yoir pockets stay in place. Like david said, go out with a set amount of money, NOT ALL your cash. Going specifically somewhere downtown (not and entire day trip) you're not gonna be spending hundreds of thousands of pesos. The metro, a meal, a drink and a little extra spending money won't run you more than 100,000. Just be smart, don't draw unnecessary attention and keep your eyes out for shady characters and life in Medellín is beautiful.
Wow, great stuff, thanks for telling us it’s cash society Only, can you use cards in shops & restaurants, great in-depth knowledge and being smart and vigilant. Keep them coming ❤
Great tips! Thanks. I'd love to know what you're using for health/travel insurance here in Colombia. I'm having a difficult time working out what option to go with.
Great information Dave, Can you do a video about the best way foreigners can withdraw money from their home country and not paying high transaction fees please. - thanks Bro 😎
Been here twelve years, get a visa and open a bank account which will flag you for income tax, use a debit card and generally pay a higher foreign exchange fee, the latter IMO is preferable as there is no traceable record. The moral of the story is that you can pay them now or pay them later.
@@Leonardo-1 Them on the one hand would be the banks, paying an exchange rate of 6 or 7 % over the mid market rate at the ATM is highway robbery but that's life here. The other is the government, Colombia taxes on world wide income, you make $60K in the US, you pay tax on that here. There is a tax treaty between the two countries, I know nothing about it other than you can't be double taxed, you need an expert and I'm not. One thing about a bank account, the banks are essentially spies for the government and will report transactions that they deem "unusual" to DIAN, you don't want DIAN messing in your affairs, believe me. Use a debit card and the withdrawal can't be traced.
Great video David. You asked if anyone has spent $2000 US in a week in Colombia. Yes I have but I was with my girlfriend in Cali and we stayed at the Marriott and we went grocery shopping and to the mall also😄😉. I am always amazed at the amount of places that do not accept credit cards. That’s all I bring so we are forced to go to the big shopping places because the mom and pop stores and boutiques don’t accept card😫.
you'll be fine. Most people don't have issue but you're starting out right by listening to David's tips so if something does happen you dont turn a bad situtation into something even worse. I wouldn't carry more than 600,000 pesos about 150 dollars and if you do, take a radio taxi or uber. leave your debit cards/ids in the hotel/airbnb unless you need them for a specific reason. take copies and pictures on your phone. If you have an expensive phone go to claro or any shop and buy a cheap unlocked phone for $50 $100 to carry during the day/night you can have the expensive phone with you in safe areas but be careful. Just use some common sense and it's things we don't normally have to look out in other countries to the north, normally.
In Bogota, high end spa. 3 adults, one hr massage each, I paid $150 US dollars. It was great. So thats a big difference. Back in NYC one person one hr massage would be $150 at a reasonable place.
Holaaa David, you can now buy wallets with a hidden bill compartment & cards in the back... Keep a few notes in the open section and your high value notes in the hidden bill compartment ... So in case of robbery, straight off hand them everything the robber can see and keep hold of your wallet.
Rocketman is right, thief will take your wallet, Bad advise Dino. What I do in Mexico is I take two wallets. One with just cash money in it, and not a lot of cash, and I keep the other wallet with my Debit, ID, big cash bills in this wallet, and I keep it in my boot/sock or money belt. This is mostly when I go out at night.
Im gonna start a channel soon myself. I live in Cali. I have been in Colombia since 2003 and I have been all over...I mean all over...even Caqueta ( Florencia ). I had not seen a 100k denomination at all till about a year ago and I have probably spent over 1 to 1.3 million USD in Colombia since my first arrival. I have used all the different ATMs and such as well.
Excellent vlog! As a long time subscriber I enjoy all your videos as I like your down to earth style but one's like this, how to ride the metro, finding an apartment, etc. that are very practical in nature are most helpful on the ground. Ok stay well and look forward to future content. 👍
As we live in Mexico, at first we hated coins!! But more days in the country we don’t mind them now. We give them for tips and coffe type things. 🇲🇽🇲🇽🇲🇽
I think the most I ever had there in Colombia on me at one point was 300,000 pesos. That was for taking a cab for a day to Guatape and back and not knowing what type of ATMs would be there. Of course i was very nervous having that in my wallet walking around. I've also noticed a lot of places that I go to, the larger places like you say, David, take credit card. I feel much better using that in case it gets stolen. Canceling that and getting the money back will be much easier. With cash it's impossible. I would say typically I had maybe 100 or 200,000 pesos. I get reimbursed at the end of the month for ATM fees so it's worth it paying them at the time and having less I feel like.
Another good thing to do is to use the coins to top up your purchase to get single bills for change. Eg. Costs 8200 and you have a 10k bill and some coins, you can give them 10200 pesos to get a 2k back.
This is so true…. I was there earlier in the year for 2 months, and I took some money in $100k bills, and it became impossible to use the bills in stores and restaurants….it’s like it you’re trying to pay in the USA with $1000 bill lol. I went back to the bank and got $20k and $50k bills.
David I live in the usa I'm trying to learning about switching money from here to the currency out there. Can you tell me some examples on how much the difference would be for example 5$ of usa bills to maybe a hundred dollars of usa bills switching over to columbia?
My wife and I just arrived last week and would love to connect if you’re interested! We’re currently in Bello and will be here a few months - we’ve been keeping up with you since we were in the DR & decided this would be our next stop
Yea sounds about right I’ve never been to Colombia 🇨🇴 but most Colombians and acquaintances that I know that have been rave how much cheaper it is then let’s say other Latin American countries ❤ 2000 in a week is do’able anywhere in Latin America if you want to splurge and do it BIG time with the luxurious villa 🏡 car 🏎 eating 🍽 at what would be considered expensive restaurants in Colombia 🇨🇴🦞 🥩 🍷 👨🍳 then yes 🙌🏻
I don't understand why Colombia doesn't eliminate the zeros. Numbers for everything are ridiculously high. Mexico did it once back in the 1990s when the Mexican peso lost much of its value. They changed the currency and 1,000 pesos became one peso. Colombia should do the same. Have $1 = 4 pesos instead of 4,000. When you go to Brazil it's about 5 reais to the dollar. The Peruvian sol is about the same. Dealing in tens of thousands of pesos for small transactions gives me a headache.
Yeah, quite a few countries have done that in the past. It looks like Colombia is functionally doing it through the way they designed the bills. Instead of saying 100,000 on the bill, there's a big "100" followed by a small "mil". Would be nice if they did that for prices too, though. It shouldn't be necessary to write 23000 next to an item when you could just write "23 mil". And if you're looking to buy a house the numbers get real silly, a listing could say 140000000.00 and that's just not easy to read.
Exchanging your money at the airport. I recommend Only a little bit before you get to an currency exchange store. The exchange rate at the airport is the worst rate. I will exchange most of my money once I get into the city where I can find an currency exchange store or go the an ATM to withdraw from my US bank account
Can you go into more details about handling Columbian money like coins value, how to make to receive correct change and reading sale amount to giving correct amount to purchase. I hope this made sense I'm traveling there soon.
i found it frustrating walking around with all the coins. because within a few days i had too much of it. but it is also usefull to know how to handle it fast. i divided the banknotes too. had a bunch of 1k up to 10k in a easy-access pocket to pay the daily bills. and larger banknotes down in a small wallet in a pocket. i accessed it only on more protected areas, like larger stores and restaurants.
Unless you're buying from a street side vendor, most every store and restaurant I've been to takes credit/debit cards. When time to pay at a restaurant they'll ask if paying in cash or card and usually if you want tip included. I've seen tip amounts range from 5%-10%-15%-20%.
If you go to the mom and pop restaurants that do the typicial menu of the day breakfast/lunch those guys only accept cash. As well as most small mom/pop convenience stores. it depends on where you're at too. If you're in Poblado, Envigado, or Laureles there are a lot of places that take cards. If you go to Bogota it's mostly cash everywhere except some of the more expensive restaurants and the centro comericals...
When I lived in Chile the only place I could use the huge bills you got from the ATM was McDonalds. Used to have to eat McDonalds every couple of days just to get change to spend elsewhere
Best tip I received about how to spend money in Medellin. 1) look at the cost of the item or service similarly to how you would in the US. For example I paid 20,000 COL for a haircut. I spend 20 for a haircut in the US. Or 2,000 Col for a water, or I would spend 2 dollars in the US. 2) you don’t need to do a conversion to dollars on each transaction. It allows you to enjoy your trip. Business owners are the same like in the US. If you pay for a soda with a 50 US bill they will look at you crazy, because you are taking all their change. In Medellin use your smaller bills when you are moving around. Use the 10,000, 5,000 or 2,000 for the purchase of water or drink. You can the total conversation of all the cash you are carrying at the start of you day, then see how much you spent at the end. Enjoy your time in Colombia!!
I carry coins for gum/ candy never carry 100ooobill I only walk la 70. Planning your day and knowing the timing to take metro, taxi or moto across town avoiding traffic is key. The remaining coins I pay the tunnel when leaving.
In your first week you will probably spend the most as time goes the longer you stay you get used to it and you spend less. I spent almost £400 my first week, but by the 4th week I was spending no more than £100-£150. this is not accommodation or travel, this is food, groceries and entertainment for 2 people
I do exactly the same thing in all the LATAM countries. In Argentina now, it's exactly what you're saying but half the value (i.e. $30-$100 USD worth of local).
It doesn't hurt to ask first if a smaller business wants to take a larger bill. I always tried to pay with one bill and get one bill in change, it's fair for both parties. A few purchases from street vendors can easily wipe out all your 2s, so don't spend them at stores. I used coins at businesses only to simplify making change...e.g. pay 11mil for a 6mil purchase. And always state how much you are paying when you hand over cash.
Even if the $2,000 spending includes the cost of accommodation in a fancy place, and also eating in fancy restaurants, that is a lot of money to burn through in a week.
yeah, you can get a decent 4/4.5 star hotel in Medellin for $75 per night. Most restaurants you're not going to spend over $20 per meal and that would be with quite a few rounds of drinks.
In the US, quarter, nickel, dime, or penny are always the same in diameter size, The size of the coin never changes for its value. Not in Colombia. If you are not familiar with the coins, you have to look at the coin closely to see its value. A 100 peso coin, for example, can vary in diameter size. It can be the size of a dime, a nickel or a quarter. Bit frustrating. I guess I'm a spoiled American.
One tip I have after going to Colombia is always go inside a mall or supermarket to use an ATM. Avoid street ATMs like the plague!
Actually as a colombian myself, let me tell you that you are making a huge mistake. Never put big bills with smaller bills together in the same pocket or wallet. Always Keep the big bills in your socks or a hidden pocket and the small bills handy. I think the reasons for doing that are pretty self explanatory so I won't elaborate on that. Stay safe.
I bought a hidden pouch I keep inside my pants for this reason. Way easier to stash your spare cards and such, should you get jacked.
That’s what I thought .
Good tip, very logical.
Going tomorrow and I’m going to do that
Know this is a city man👍🏾
In my experience being in Medellin for about 2 weeks, yes it IS possible to spend 2,000 in a week if you want to live the absolute most richest 5-star white table lifestyle. For the first 2 days I stayed in the nicest hotel in Medellin and it was about $250 a night. So yeah it IS possible, but tbh crazy AF to come here and live like that, if you live normally you can save SO much money.
My thoughts the same. Even though I have never been to colombia, I've talked to people from colombia and been doing some research. I'm the type of person that doesn't care too much about the hotel so I would choose a moderate priced one where it's under 100 dollars a night. And food wise really just stick to street food or mom and pop shops. So idk but I believe in a week I can keep it at about 1,000 dollars.
You did too much, go airbnb next time and doesn't have to be the best. I spent 600 haha
Well done, and you run exactly as I do there. I never carry a wallet, but only cash, 1 card, and copy of passport and backup phone at night. I always make sure I have 60-100 USA dollars on me in the event I get robbed, for the exact reason you mentioned. Keep your max daily limits reasonable on your runaround card in case you are escorted to the ATM by a bad guy. Have your big card for super large ATM withdrawals at a safe location for the big withdrawal each month for rent etc.
this is the best advice
Or just use a digitalized card and a mobile...
I cant imagine a safer option than that
Keep the big dollar account in a cardless account and transfer from there smaller amounts into account with ATM card to be withdrawn when needed. Keep your cash in a pouch out of sight (I keep it near my precious part) and smaller bills in front pocket. Keep everything else in your safe. Be careful who you invite home, better to stay in a hotel for a night if you have company. Stay safe on your trip.
Great advice. I'll be going to Medellin soon, and learning more about the culture is very important. In USA, I rarely ever use cash, and don't even think about being somewhere that prefers cash over credit. Thanks, David.
A lot of restaurants in big cities prefer cash, to avoid taxes of course.
I just got back from medellin. I stayed in San javier. I would carry around 5 million all the time
Thus is just too much caution ⚠️ 😢sad really, Colombia is a great country but the rate where foreigners are getting drugged, robbed, k!!lled , you can’t even hold your phone and be surfing freely when you are out and about and not getting your phone snatched from you! Is too much hassle, people should look elsewhere to visit. You don’t get this even in the worst places in Northern Europe or America. You gonna have to be on extremely high alert all the time, and that can add to stress, you go on vacation to relax and recharge and not to be be worried with anxiety about your presence of being a gringo in Colombia 😢.
The government should step up to stamp these out to save tourism in Colombia. In Thailand, is not like this. And they are also poor and a developing country
Been robbed twice in South America had a throw down dummy wallet threw it down and ran worked both times.
I do 2 VISA credit cards in each shoe
Get the best exchange rate of my dollars
can dispute all transactions.
Has saved me lots over time.
I always carry two wallets with me in Mexico, one with chump cash in it, the other real one in my boot or money belt.
@@williesteele4503 you must have been in bad areas 😂
David, these are excellent informational videos on Colombia (not just this one, but the recent ones you've done the past few months). Only someone who's spent a lot of time in the country has this in-depth knowledge. Keep it going!
When I lived in Colombia in 2004-2007. I always kept a few hundred dollars of 10 and 20K bills at home. I also could never get the hang of the coins.
My solution was to have a coin dish in my entrance way. Every day a dropped my change into it. Once a month, I made little baggies of $5K and paid my taxi fares with them.
Taxistas were always very happy, to get them!
In Colombia I usually kept about 200mil in my wallet, one 50 plus an array of smaller bills. The rest of my 50s were rubber-banded with my backup dollars in my front pocket, underneath a bandana. This wad was never taken out in public. One tip to avoid pickpocketing in risky situations (i.e. standing at a food stall with crowds passing behind you) is to wear your shirt untucked and pull it tight in front with one hand. Pickpockets are not dumb, they won't try if they clearly won't succeed.
I’m not a shopper either.
This is a good video. In Jamaica you're raised to have money in multiple pockets. If you get pickpocketed then you only lose a fraction of your cash.
This is for locals. Tourists don't frequent areas like downtowns and street markets where these things are more prevalent.
Truth is as a tourist they'll beg instead of steal.
I'm your opinion what areas of Jamaica are the safest? I'm considering a vacation there. Tia.
Hi, great channel - I find your advice really helpful - I go to Colombia quite often to be with my Venezuelan friends - my Spanish is getting much better but I still sound like a gringo so when my friends order me a taxi to go back to my hotel or Airbnb at night using indriver they tell me don’t talk to the taxi driver - you don’t know him and you don’t want to let him know how much of a tourist you are so the less you talk to him in gringo Spanish - the safer you will be.
Well, that's reassuring. 😒
Also, make copies of your credit card, passport and any other important documents. Before going to Colombia let your credit card institution know that you'll be traveling there so they could note take that down on your records and not freeze your card because it's being used in a foreign country. Keep some money in your pocket, in your socks and other hidden compartments.
I never been to Colombia and I’m planning to go the end of October by myself , but after watching this video and the 10 things not to do video 🤔 , I believe I need to think twice about it .
Dont let fear get in the way, feel the fear and do it anyway
I’ll see you there same boat ! Lol
Just landed in Medellin this is very helpful thanks man
In 2019 I went to Medellin for a week. I thought I’d need a lot of cash so I pulled out something like $400 worth. I was staying in a nice neighborhood (conquistadores), I got a local SIM card, did normal touristy stuff, ate out every meal, took taxis most places, bought some clothes and souvenirs.
After paying cash for the taxi to the airport I realized I still had 500,000 pesos. I bought some overpriced coffee beans and a meal at the airport, but still left with 350,000 pesos (which at the time was about $100).
I can’t imagine trying to spend $2,000 in a week. Things are just so cheap.
Your comment sounds more accurate than most in this section
Iam traveling to Medellin in the end of November for 4 days . I was told $500 dollars was more then enough ? Any insight would help thanks
@@geraldcardenas9571 It's been a few years for me, but if you already have your hotel covered, $500 is way too much. I guess I didn't do any clubbing, but eating, drinking, transport, etc. You're gonna be hard pressed to spend more than $50 a day. Most ATMs I came across had a limit of around 800,000 COP (around $200 usd). If I was you, I'd just withdraw that amount and see how far it gets you... my guess is probably your whole trip.
This is an excellent video bro. Awesome tips. A lot of travelers don’t understand how to use and spend money in Latin America. There’s a lot of adjustment coming from USA. I spent 4.5 months in Latin America across 6 countries earlier this year and everytime getting adjusted to exchange rate and ATM and buying small things knowing when and where to use your card. It’s all education. Argentina was the worse for me. Just brutal for Americans USA dollars. I didn’t do enough research and made mistakes my first day there. But I learned along the way. Stay up bro 👊🏾
How do you mean? Do dollars no go very far in Argentina?
Glad you made this, as I was wondering when to do exchanges or how much cash to keep on you. I figured you just go to the ATM if you don’t have a local bank account. And I see you finally got to remove that bandage from your finger.
I live in pereira and I keep no more than 200,000 pesos on my person. I get a lot put at the bank and take it to my apartment because I don’t wanna do a bunch of withdrawals because of fees
Depending on how your bank’s fees work, I’d say take out as much cash as you’re comfortable taking out in one transaction and then store some of it away if you need to. Wells Fargo charges $5 per withdrawal whether it’s 20,000 pesos or 300,000 pesos, so might as well take out more money in fewer transactions.
omg, this was hilarious "enough so they know the have robbed enough, a good day's work"🤣. I will be in Medellin in October as my husband and I travel through Central America and your tips are appreciated!!
I was hoping you would have touched on gratuities, "tips" and whats common for restaurants small and large, taxi, ect.
Peripheral vision is important when sitting on hot coals while guarding a stash of cash with your back to the public, haha. Useful tips about money in Colombia, thx Dave. I have been following your channel, amazing variety of topics, incredibly creative. Keep on trucking and tell us about live over there.
I'm going to Cartagena in 5 days and appreciated this info man!
How was it? I plan on going as well
I think I have been doing it right after watching this. I have been on Colombia for a week and a half and I have been taking out $300.000 pesos and using that money as long as I can. When I am low or I know I need to pay for the bus to another city, I make sure I have enough cash. I used my card like three times and that was at the grocery store and pharmacy. I think the only time one will spend $2000 in like a week is if they do tours and stuff, but still too much. Everything is cheap and I do things on my own, so I won’t be spending $2000 in the 3 weeks I am going to be here in Colombia.
#1 RULE: NO DAR PAPAYA
When I would walk around downtown/plaza botero/san Antonio I would never take out my wallet while walking the streets. I kept my cash separately in a different pocket (never using bills larger than 20,000 peso) bc I never wanted to make myself a target.
If I was indoors at a nice restaurant in poblado, I would use my wallet normally like I do in the US.
isn't having a bunch of bills sitting in your pocket kind of easy to lose though?
@@ej1692 if you're wearing athletic shorts that have loose pockets (like basketball shorts) yes, having too many bills can get messy. Most ppl in Medellín wear well fitted pants, so things in yoir pockets stay in place.
Like david said, go out with a set amount of money, NOT ALL your cash.
Going specifically somewhere downtown (not and entire day trip) you're not gonna be spending hundreds of thousands of pesos. The metro, a meal, a drink and a little extra spending money won't run you more than 100,000.
Just be smart, don't draw unnecessary attention and keep your eyes out for shady characters and life in Medellín is beautiful.
Wow, great stuff, thanks for telling us it’s cash society Only, can you use cards in shops & restaurants, great in-depth knowledge and being smart and vigilant. Keep them coming ❤
I love your way of thinking! 🙏🏻💕😘
great info David!
Great tips! Thanks. I'd love to know what you're using for health/travel insurance here in Colombia. I'm having a difficult time working out what option to go with.
I have a link in the description of a good travel insurance
@@LifewithDavid awesome thanks. It'd be great to hear your opinion on the digital nomad visa which just got announced as well!
Great information Dave, Can you do a video about the best way foreigners can withdraw money from their home country and not paying high transaction fees please. - thanks Bro 😎
That would be a really useful video
Been here twelve years, get a visa and open a bank account which will flag you for income tax, use a debit card and generally pay a higher foreign exchange fee, the latter IMO is preferable as there is no traceable record. The moral of the story is that you can pay them now or pay them later.
@@Leonardo-1 Them on the one hand would be the banks, paying an exchange rate of 6 or 7 % over the mid market rate at the ATM is highway robbery but that's life here. The other is the government, Colombia taxes on world wide income, you make $60K in the US, you pay tax on that here. There is a tax treaty between the two countries, I know nothing about it other than you can't be double taxed, you need an expert and I'm not. One thing about a bank account, the banks are essentially spies for the government and will report transactions that they deem "unusual" to DIAN, you don't want DIAN messing in your affairs, believe me. Use a debit card and the withdrawal can't be traced.
@@williamhutchison5969 Great advice. Stay under the rader as its only going to get worse with technology and Colombia high rate kicks in early.
Bank of America only charges shipping for whatever amount you request. They ship to your house in us or local branch
Great video David. You asked if anyone has spent $2000 US in a week in Colombia. Yes I have but I was with my girlfriend in Cali and we stayed at the Marriott and we went grocery shopping and to the mall also😄😉. I am always amazed at the amount of places that do not accept credit cards. That’s all I bring so we are forced to go to the big shopping places because the mom and pop stores and boutiques don’t accept card😫.
This is what worries me man. Next time I go there I want to go eat out somewhere but I worry about getting ripped off.
you'll be fine. Most people don't have issue but you're starting out right by listening to David's tips so if something does happen you dont turn a bad situtation into something even worse. I wouldn't carry more than 600,000 pesos about 150 dollars and if you do, take a radio taxi or uber. leave your debit cards/ids in the hotel/airbnb unless you need them for a specific reason. take copies and pictures on your phone. If you have an expensive phone go to claro or any shop and buy a cheap unlocked phone for $50 $100 to carry during the day/night you can have the expensive phone with you in safe areas but be careful. Just use some common sense and it's things we don't normally have to look out in other countries to the north, normally.
by far u make some of the most useful videos on Colombia. Thank u bro
Also it's also a good idea to carry around coins for the beggars in the street, if you go for a walk.
Agree, I will hand the coins to street vendors and let them keep their product. They will look out for you.
I always give a coin to the sweet Guatemalan girls who dance with their family.
I am cheapskate too, but earn much, and give much to charity.
I was definitely guilty of the wad of cash thing. Gonna started folding my cash small bills out and keeping big bills separate from smaller bills
In Bogota, high end spa. 3 adults, one hr massage each, I paid $150 US dollars. It was great. So thats a big difference. Back in NYC one person one hr massage would be $150 at a reasonable place.
I’m going to Bogota, Medellin, and Cartagena next week, your vids are really helpful 🙏🏼
Yes hi I have been watching all your. Videos there very educational for a Colombian who has not been there in decades.
I paid for most of my expenses with my cc. I kept the cash at the Airbnb I was staying at
Thanks, David! You have the most practical advice on here. I'll probably hit you up for one of those consultations when I decide to make the leap.
It would be helpful to show the coins individually and see how much each is worth.
Agreed. Same approach in any developing country - Latin American, Asia, Africa etc.
Another great video! Thank you for sharing. I may hit you up for that consultation soon!
Holaaa David, you can now buy wallets with a hidden bill compartment & cards in the back... Keep a few notes in the open section and your high value notes in the hidden bill compartment ... So in case of robbery, straight off hand them everything the robber can see and keep hold of your wallet.
they will snatch your whole wallet. Keep your high bills in your underwear!
Rocketman is right, thief will take your wallet, Bad advise Dino. What I do in Mexico is I take two wallets. One with just cash money in it, and not a lot of cash, and I keep the other wallet with my Debit, ID, big cash bills in this wallet, and I keep it in my boot/sock or money belt. This is mostly when I go out at night.
Im gonna start a channel soon myself. I live in Cali. I have been in Colombia since 2003 and I have been all over...I mean all over...even Caqueta ( Florencia ). I had not seen a 100k denomination at all till about a year ago and I have probably spent over 1 to 1.3 million USD in Colombia since my first arrival. I have used all the different ATMs and such as well.
Good info, heading to Colombia in September and your info helps me prepare.
Didn’t know you were back posting 👍
you're awesome, been watching every video prepping for my bday trip to Medellin in September!
wow
con tanto consejo de seguridad ya no quiero ir a colombia, aqui en mexico no esta tan mal como allá
Con tantos narcos matando gente,ya no quiero ir a México ,aquí en Argentina no está tan mal
@@stevenortiz9008 solo se matan entre ellos, es lo bueno.
All your videos are Useful, I Love them
David, thanks for educating people worldwide with this type of currency. I much appreciate it. Saludos desde 🇺🇸 E.E.U.U.
I love you man, thanks for the videos. This helps so much. Keep doing what upur doing
Excellent vlog! As a long time subscriber I enjoy all your videos as I like your down to earth style but one's like this, how to ride the metro, finding an apartment, etc. that are very practical in nature are most helpful on the ground. Ok stay well and look forward to future content. 👍
As we live in Mexico, at first we hated coins!! But more days in the country we don’t mind them now. We give them for tips and coffe type things. 🇲🇽🇲🇽🇲🇽
This is really good advice for people traveling to Colombia
Buena esa
💯again u hit the nail on the head and short sweet and to the point ! Great tips!
Good advice! I would say you can spend whatever you want in a beautiful place like Medellin!
Heading to real madrid and I believe this information is so helpful to me
I think the most I ever had there in Colombia on me at one point was 300,000 pesos. That was for taking a cab for a day to Guatape and back and not knowing what type of ATMs would be there. Of course i was very nervous having that in my wallet walking around.
I've also noticed a lot of places that I go to, the larger places like you say, David, take credit card. I feel much better using that in case it gets stolen. Canceling that and getting the money back will be much easier. With cash it's impossible. I would say typically I had maybe 100 or 200,000 pesos. I get reimbursed at the end of the month for ATM fees so it's worth it paying them at the time and having less I feel like.
Another good thing to do is to use the coins to top up your purchase to get single bills for change. Eg. Costs 8200 and you have a 10k bill and some coins, you can give them 10200 pesos to get a 2k back.
Hi David, thanks for the video. I have a buddy in Medellin and he WANTS 100K bills from ATMs. Which ones there give the larger bills? Thanks.
Thanks man these tips are really helpful i appreciate you for doing this 💯
First time going to Colombia 🇨🇴 ❤
This is so true…. I was there earlier in the year for 2 months, and I took some money in $100k bills, and it became impossible to use the bills in stores and restaurants….it’s like it you’re trying to pay in the USA with $1000 bill lol. I went back to the bank and got $20k and $50k bills.
David I live in the usa I'm trying to learning about switching money from here to the currency out there. Can you tell me some examples on how much the difference would be for example 5$ of usa bills to maybe a hundred dollars of usa bills switching over to columbia?
I do need a refresher for next month👀
You forgot the advice about atm’s 👀
.thank you so much, I’m learning so much from this.!!
My wife and I just arrived last week and would love to connect if you’re interested! We’re currently in Bello and will be here a few months - we’ve been keeping up with you since we were in the DR & decided this would be our next stop
Yea sounds about right I’ve never been to Colombia 🇨🇴 but most Colombians and acquaintances that I know that have been rave how much cheaper it is then let’s say other Latin American countries ❤ 2000 in a week is do’able anywhere in Latin America if you want to splurge and do it BIG time with the luxurious villa 🏡 car 🏎 eating 🍽 at what would be considered expensive restaurants in Colombia 🇨🇴🦞 🥩 🍷 👨🍳 then yes 🙌🏻
So much appreciated the info!
Been to Colombia many times and this is some great tips
the way you explain, it's like in Medellin, a foreigner, has 90% to get robbed :) ...
I don't understand why Colombia doesn't eliminate the zeros. Numbers for everything are ridiculously high.
Mexico did it once back in the 1990s when the Mexican peso lost much of its value. They changed the currency and 1,000 pesos became one peso. Colombia should do the same. Have $1 = 4 pesos instead of 4,000.
When you go to Brazil it's about 5 reais to the dollar. The Peruvian sol is about the same.
Dealing in tens of thousands of pesos for small transactions gives me a headache.
Yeah, quite a few countries have done that in the past.
It looks like Colombia is functionally doing it through the way they designed the bills. Instead of saying 100,000 on the bill, there's a big "100" followed by a small "mil".
Would be nice if they did that for prices too, though. It shouldn't be necessary to write 23000 next to an item when you could just write "23 mil".
And if you're looking to buy a house the numbers get real silly, a listing could say 140000000.00 and that's just not easy to read.
Hahaha you're so right
Exchanging your money at the airport. I recommend Only a little bit before you get to an currency exchange store. The exchange rate at the airport is the worst rate. I will exchange most of my money once I get into the city where I can find an currency exchange store or go the an ATM to withdraw from my US bank account
Great video been going to ctg/mde for a year, from NYC i already follow all those tips
Have zips added to yr back pockets, stops pick pockets.... keep small bills in one pocket and larger bills in another pocket
Can you go into more details about handling Columbian money like coins value, how to make to receive correct change and reading sale amount to giving correct amount to purchase. I hope this made sense I'm traveling there soon.
I’ve been to Medellín 3 times and will be there next week, I’ve spent $2000 in five days going to the clubs and spending 3million a night 😅
i found it frustrating walking around with all the coins. because within a few days i had too much of it.
but it is also usefull to know how to handle it fast.
i divided the banknotes too. had a bunch of 1k up to 10k in a easy-access pocket to pay the daily bills.
and larger banknotes down in a small wallet in a pocket. i accessed it only on more protected areas, like larger stores and restaurants.
Medellín taxi airport = 27 usd.
Coffee cup = 3 usd.
Water bottle = 0.6 usd.
Local Beer = 1.5 usd.
4.000 c.p. = 1 usd
I really enjoyed your videos in Brazil, it would be nice for you to come back in the future.
Unless you're buying from a street side vendor, most every store and restaurant I've been to takes credit/debit cards. When time to pay at a restaurant they'll ask if paying in cash or card and usually if you want tip included. I've seen tip amounts range from 5%-10%-15%-20%.
If you go to the mom and pop restaurants that do the typicial menu of the day breakfast/lunch those guys only accept cash. As well as most small mom/pop convenience stores. it depends on where you're at too. If you're in Poblado, Envigado, or Laureles there are a lot of places that take cards. If you go to Bogota it's mostly cash everywhere except some of the more expensive restaurants and the centro comericals...
Nowadays it's pretty usual use QR code with Bancolombia if u have a bank account in Colombia.
Good info, we'll be landing in Medellin in a few days.
When I lived in Chile the only place I could use the huge bills you got from the ATM was McDonalds. Used to have to eat McDonalds every couple of days just to get change to spend elsewhere
No big stores/markets ?
@@jesusismyking4345 You'd be surprised sometimes big markets will say they have no change. I just use card every place I can.
Thanks David. Nice vid as always.
Best tip I received about how to spend money in Medellin. 1) look at the cost of the item or service similarly to how you would in the US. For example I paid 20,000 COL for a haircut. I spend 20 for a haircut in the US. Or 2,000 Col for a water, or I would spend 2 dollars in the US. 2) you don’t need to do a conversion to dollars on each transaction. It allows you to enjoy your trip.
Business owners are the same like in the US. If you pay for a soda with a 50 US bill they will look at you crazy, because you are taking all their change.
In Medellin use your smaller bills when you are moving around. Use the 10,000, 5,000 or 2,000 for the purchase of water or drink. You can the total conversation of all the cash you are carrying at the start of you day, then see how much you spent at the end. Enjoy your time in Colombia!!
be in Colombia for a month thanks for the tips
Great vid ty
So happy I found your channel! Going in a couple weeks. What percentage of tip is is expected to pay at restaurants? Thanks
I carry coins for gum/ candy never carry 100ooobill I only walk la 70. Planning your day and knowing the timing to take metro, taxi or moto across town avoiding traffic is key. The remaining coins I pay the tunnel when leaving.
In your first week you will probably spend the most as time goes the longer you stay you get used to it and you spend less. I spent almost £400 my first week, but by the 4th week I was spending no more than £100-£150. this is not accommodation or travel, this is food, groceries and entertainment for 2 people
Thank you for the information. I'm thinking of taking a vacation from my factory job to party in medellin, I just don't want to be killed 😫
I do exactly the same thing in all the LATAM countries. In Argentina now, it's exactly what you're saying but half the value (i.e. $30-$100 USD worth of local).
It doesn't hurt to ask first if a smaller business wants to take a larger bill. I always tried to pay with one bill and get one bill in change, it's fair for both parties. A few purchases from street vendors can easily wipe out all your 2s, so don't spend them at stores. I used coins at businesses only to simplify making change...e.g. pay 11mil for a 6mil purchase. And always state how much you are paying when you hand over cash.
Your videos are very helpful 👏🏽
If you can get a nice vacation for 150 USD/ 600,000 Pesos that is a good deal!
Even if the $2,000 spending includes the cost of accommodation in a fancy place, and also eating in fancy restaurants, that is a lot of money to burn through in a week.
yeah, you can get a decent 4/4.5 star hotel in Medellin for $75 per night. Most restaurants you're not going to spend over $20 per meal and that would be with quite a few rounds of drinks.
4:24 It's funny what you are telling here. I have been a Colombian resident for nearly 6 years now, and it is perfectly fine to use the "big" bills.
Why do you do the analysis if there are reliable Cross Staking platforms such as Cross Staking?
In the US, quarter, nickel, dime, or penny are always the same in diameter size, The size of the coin never changes for its value. Not in Colombia. If you are not familiar with the coins, you have to look at the coin closely to see its value. A 100 peso coin, for example, can vary in diameter size. It can be the size of a dime, a nickel or a quarter. Bit frustrating. I guess I'm a spoiled American.
Bro! I don't think any modern or progressive country in the world still uses 1 cent coins, and I'm Canadian
Yes but it's always gold in color, the problem is the 50 and the 200, both similar size and silver.