Anchorage's Bolivian Money Access: A Guide

If you're looking to exchange your money for Bolivian currency, you may be wondering about your options. In Anchorage, exchanging currency is a quick and easy process, with various banks and money marts available for in-person transactions. However, exchanging Bolivian currency specifically may be more challenging. Bolivia is not as advanced in banking, payments, and currency exchange, and its official currency, the Boliviano, is difficult to obtain outside of the country. Your best option is to bring US dollars and exchange them at a Casa de Cambio or a bank in Bolivia, ensuring that your bills are new and crisp as old ones are often rejected.

Exchanging currency in Anchorage

ATMs are also a convenient option for exchanging currency in Anchorage. They are widely available in malls, convenience stores, and other businesses, and they accept major cards such as Visa, Mastercard, American Express, and Discover. Additionally, most Anchorage businesses accept card payments, and travellers can opt to receive cashback in US dollars when making purchases at most retailers.

When exchanging currency, it is generally recommended to do so in your country of origin, as you are more likely to get a better rate. However, if you need to exchange currency in Anchorage, it is important to shop around for the best rate and be aware of any fees or commissions that may be charged.

If you are looking to exchange US dollars for Bolivian currency, it is worth noting that it is extremely difficult to obtain Bolivian bolivianos in advance outside of neighbouring countries such as Peru or Argentina. The best option is usually to bring US dollars and exchange them in Bolivia. You can do this at a "Casa de Cambio" (money exchange company) or a bank, although the exchange rate will be less favourable at banks. It is important to ensure that your USD bills are new and crisp, as old or damaged bills may be rejected.

Getting Bolivian money before arriving in Bolivia

It is extremely difficult to get Bolivian money before arriving in Bolivia and is usually only possible in neighbouring countries such as Peru or Argentina, and even then, the rates are often bad.

If you are flying into La Paz or Santa Cruz airports, there are currency exchange facilities and ATMs in the airport, so you can simply exchange or withdraw some money upon arrival. If you are entering Bolivia by land, you can exchange your money in the border towns once you have crossed the border. However, it is recommended not to change too much money, as better rates are available in the major towns and cities.

It is a good idea to bring plenty of small-denomination US dollar notes with you from home, as many places will accept payment in USD, although not always at great rates. Make sure that your bills are crisp and new, as old ones are inspected and almost always rejected.

Exchanging money in Bolivia

The official currency of Bolivia is the Boliviano, often denoted by the symbol 'Bs' and abbreviated as 'BOB'. The exchange rate of the Boliviano to the US dollar has remained quite stable in recent years, with 1 USD worth around 6.9 Bolivianos.

Before Arrival

It is a good idea to bring US dollars in cash to exchange in Bolivia, as other currencies are difficult to exchange and will attract poor rates. Ensure that your bills are new and crisp, as older notes are often rejected. It is also recommended to bring at least two types of credit card in case one is not accepted. Inform your bank in advance that you will be travelling to Bolivia, and check your card has a 4-digit PIN.

On Arrival

If you are flying into La Paz or Santa Cruz airports, there are currency exchange facilities and ATMs available, so you can exchange or withdraw Bolivianos upon arrival. If you are crossing the land border from Peru or Argentina, you can exchange USD in the border towns of Desaguadero, Copacabana, and Villazon. However, exchange rates will be better in major towns and cities, so only change a small amount to tide you over.

During Your Stay

You can exchange US dollars for Bolivianos at 'casas de cambio' (exchange agencies) or with street money-changers, but you will need to negotiate for a preferable rate with the latter. Exchange offices are more secure than street exchangers, but may charge high commissions or fees. You can also exchange money at banks, which usually offer the best exchange rates after ATMs, and at your hotel or hostel, but be sure to ask about limits in advance.

ATMs are available in major cities and some small towns, but they may run out of cash or not work reliably, so it is best to plan ahead and carry cash. Most ATMs accept Visa, Mastercard, and Maestro, but American Express is not widely accepted. There is a limit to the amount of money you can withdraw from a Bolivian ATM, ranging from around 1500 Bs to 6500 Bs (approximately 950 USD) per transaction, depending on the bank.

Safety Tips

Bolivia is one of the poorest countries in South America, and flashing large amounts of money can make you a target for robbery. Avoid exchanging money in view of a crowd, and be wary of street changers, particularly around borders and bus stations, as they are known for giving poor rates and shortchanging travellers. It is also important to be vigilant about fake money, as there have been cases of high-quality counterfeit notes in circulation.

Using ATMs in Bolivia

ATMs are readily available in major cities and some small towns in Bolivia. However, it is recommended to withdraw cash before arriving in smaller places, as ATMs in these locations may not be from major bank networks and could reject foreign cards. Additionally, it is not uncommon for ATMs in places like Uyuni and Tupiza to run out of cash or be non-functional. Therefore, it is advisable to plan ahead and withdraw cash in larger cities whenever possible.

When using ATMs in Bolivia, be cautious of ATM fraud and credit card skimming, where fraudsters copy your card information. It is also important to note that most ATMs in Bolivia do not charge for withdrawals, but your bank may impose a fee. The currency conversion rate may not always be favourable, so consider using a card with good exchange rates, such as a TransferWise MasterCard.

The withdrawal limits vary depending on the bank, but they typically range from 1500bs to 6500bs, with an average maximum withdrawal of 3500-4000bs per transaction. The best banks to try for withdrawals are BNB, BCP, BMSC, and Banco Union. VISA cards are the most widely accepted, followed by MasterCard. American Express is rarely accepted.

Credit cards in Bolivia

Credit cards are accepted in Bolivia, though it's always a good idea to carry some cash as backup. Accepted credit cards include Visa, Mastercard, American Express, and Diners Club. However, some merchants and restaurants will add a credit card transaction fee.

ATMs are plentiful in major Bolivian cities and some small towns, but it is recommended that you only withdraw cash from one in a secure area, such as next to a bank, in case anything happens. Banco de Credito has favourable transaction rates, while Banco Union does not. It is also worth noting that not all ATMs in the country accept foreign bank accounts.

If you are travelling from Australia, it is recommended that you get an international travel card before your trip to make spending cheaper and more convenient. Wise and Revolut are two examples of cards that can be used in Bolivia.

If you are travelling from Canada, it is recommended that you get a low-cost international debit card from a provider like Wise, in addition to your regular bank card.

Frequently asked questions