TRAVEL FINANCE
March 10, 2026
7 min read
You just landed at José María Córdova airport and you need Colombian pesos. You have five options. Four of them will cost you more than they should. Here's what most tourists actually do vs. what they should do.
Word Smith (Muhammad Ali)
Senior Author & Travel Correspondent
On-the-ground travel finance advice from someone who's been through every exchange option in Medellín
Medellín runs on cash. Your Airbnb host might take a transfer, and the nicer restaurants accept cards, but the arepa guy on the corner, your barber, the colectivo bus, the fruit lady at the market — they all want pesos. Physical pesos.
So the question isn't whether you need pesos. It's how you get them without losing 10-20% of your money in the process.
Here are your five options, ranked from worst to best.
You see it the moment you walk out of customs at José María Córdova: a brightly lit exchange booth with "CAMBIO" in big letters. It feels convenient. It feels safe. It's neither.
Example:If the real rate is 4,200 COP per dollar, the airport booth might give you 3,600-3,800. On $200, that's 80,000-120,000 pesos you're losing. That's a week of lunches.
Verdict:Skip it. Take a taxi to your hotel and figure out money later.
ATMs are what most tourists default to. They're everywhere in El Poblado, Laureles, and Envigado. You stick in your US debit card, punch in some numbers, and cash comes out. Simple.
But simple isn't cheap.
Example:You withdraw 600,000 COP ($143 at market rate). The Colombian ATM charges $7. Your bank charges $5. Their rate markup costs you another $3. Total real cost: $15 per withdrawal. Do that 4 times in a week and you've spent $60 on ATM fees alone.
Verdict:Better than the airport, but you're bleeding money every time you use one.
You can walk into a Colombian bank and exchange dollars at a decent rate. The problem? Everything else about the experience.
Example:You walk into Bancolombia at 10am. You wait 45 minutes. You fill out a form. They photocopy your passport. They give you a rate that's 1-2% off market. You walk out with pesos at 11:15am. Your morning is gone.
Verdict:If you have a lot of time and a lot of patience, it works. Most tourists don't.
In certain areas of Medellín — especially around Parque Lleras and some tourist zones — you'll find guys offering to change money. Sometimes they approach you. Sometimes they have a little table.
Their rates look amazing. That's the point.
Example:A guy offers you 4,300 COP per dollar when the market rate is 4,200. Sounds great until you realize he slipped two fake 50,000 peso bills into your stack. You just lost $24 and have no one to complain to.
Verdict:Not worth the risk. Period. Even experienced locals get burned.
Here's the option that didn't exist two years ago. DolarPeso lets you exchange USD or USDC to Colombian pesos online and pick up cash at a verified partner location in Medellín.
No airport booth. No ATM fees. No sketchy street deals.
Example:You exchange $200 online. At 4,200 COP per dollar with DolarPeso's 2.0% margin, you receive about 823,000 pesos. At an ATM, you'd get roughly 780,000 after all fees. At the airport, maybe 720,000. That's about 100,000 more pesos with DolarPeso — enough for 3 days of transport and street food.
Verdict:Best rate, safest process, most convenient. This is what you should do.
Here's what we see every week: a tourist lands, exchanges $100 at the airport booth because they're nervous about having no cash. Then they use ATMs for the rest of the trip, making 3-4 withdrawals a week.
Total damage over a two-week trip? They lose $150-200 to fees and bad rates. That's real money — that's 5-6 nice dinners, or a weekend trip to Guatapé, or 10 days of coffee and street food.
Here's what you should do instead:
Before you fly: Download the DolarPeso app or visit dolarpeso.app. Have your payment method ready.
When you land: Take a taxi or Uber to your accommodation. Don't exchange anything at the airport. Most taxi drivers to El Poblado accept card or fixed rates.
First morning: Open DolarPeso, check the rate, exchange what you need for the week. Pick up at a partner location near you.
During your stay: Exchange as needed, when the rate is good. You're in control.
Emergency cash: Keep one ATM withdrawal as a backup option, but make it your last resort, not your first.
Method | Rate vs Market | Fees | Safety | Convenience
Airport Booth | 10-15% worse | Hidden in rate | ✅ Safe | ✅ Immediate
ATM | 1-3% worse | $8-15/withdrawal | ✅ Safe | ⚡ Available 24/7
Bank | 1-2% worse | Minimal | ✅ Safe | ❌ Long lines, limited hours
Street Changer | Varies wildly | None visible | ❌ Risky | ⚡ Fast but dangerous
DolarPeso | 2.0% margin | Transparent | ✅ Verified partners | ✅ 15-30 min pickup
You worked hard for your money. Don't give 10-15% of it to an airport booth or ATM fees. Plan ahead, use DolarPeso, and keep more pesos in your pocket for the things that actually matter — the food, the coffee, the experiences that brought you to Medellín in the first place.
Check today's rate and see how much more you'd get compared to your usual method. The difference might surprise you.
✈️ Planning your Medellín trip? Compare flights and hotels on our Travel page.
Exchange USD or USDC to Colombian pesos and pick up cash in Medellín. Better rate than ATMs, safer than the street.
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