Essential Cash Planning For A Bolivian Adventure

Bolivia is one of the most affordable countries in South America. The official currency is the Bolivian boliviano, which has been quite stable against the US dollar for years. The exchange rate is flexible, and you can get a better rate if you exchange your dollars in advance. However, it is hard to obtain bolivianos outside of Bolivia, so it is recommended to bring US dollars to exchange once you arrive. ATMs are available in major cities and some small towns, but it is advised to carry cash when travelling to rural areas. Credit and debit cards are accepted in some places, but it is best to have a mix of payment options.

How much cash to bring

Bolivia is one of the most affordable countries in South America. The official currency is the Boliviano, and it's a good idea to bring some cash in this currency with you, as well as US dollars. You can exchange US dollars for Bolivianos at casas de cambio (exchange agencies) or with street money-changers. However, it's recommended that you bring new notes, as old ones are often rejected due to their condition.

It's also a good idea to bring at least two types of credit card in case one is not accepted. Banks in all major cities and larger towns are connected to the nationwide Enlace network of ATMs, from which you can withdraw cash in US dollars or Bolivianos using a credit or debit card.

If you're on a tight budget, you should plan to spend around Bs140 ($20) per day. This will cover basic hotels and meals in local restaurants. For a more comfortable trip, with better hotels, taxis, and guided tours, you'll need around Bs280 ($40) per day. If you want a very comfortable trip, you can spend over Bs490 ($70) per day.

How to get local currency

The official currency of Bolivia is the Boliviano, often denoted by the symbols BOB or Bs. It is difficult to obtain Bolivianos outside of Bolivia, so it is recommended that you bring US dollars to exchange. Euros, Canadian dollars, Australian dollars, and UK pounds will be difficult to exchange and will result in poor rates.

If you are arriving in Bolivia by air, there are currency exchange facilities and ATMs at La Paz and Santa Cruz airports, so you can simply exchange or withdraw some BOB upon arrival. If you are entering Bolivia by land, you can exchange USD to BOB in the border towns of Desaguadero, Copacabana, and Villazon. However, it is recommended that you do not change too much money at the border as you will get better rates in major towns and cities.

ATMs can be found in major cities, but they are less common in smaller towns and are known to sometimes run out of cash or not work. Additionally, there are limits to how much money you can withdraw from a Bolivian ATM, ranging from about 1500 Bs to 6500 Bs (around 950 USD) per transaction, depending on the bank. Some recommended banks to try are BCP, BNB, Banco Mercantil Santa Cruz, and Banco Union.

You will find money exchange services, known as "Casa de Cambio" or "Bureau de Change," in every city and most towns, which often offer better rates than the banks. Stick to reputable services with professional-looking offices, and exercise caution with street exchangers.

Using cards

It is recommended that you bring at least two types of credit card to Bolivia, as one may not be accepted. Visa is the most reliable, and other accepted cards include Mastercard, American Express, and Diners Club. However, be aware that many mid-range and higher-end hotels, restaurants, and stores will charge a service fee for card payments. This is because merchant service fees are high, the payment is often taken in USD, and there is an additional banking charge for all USD transactions.

ATMs are available in major cities and some small towns, but it is advised to carry cash at all times, as smaller stores and restaurants are unlikely to accept card payments. Additionally, some ATMs in smaller places may not accept foreign cards, and there are reports of cards being retained by these machines. It is recommended to use ATMs during the day and in busier places, and to keep your eye on your surroundings.

Before your trip, be sure to inform your bank that you will be travelling to Bolivia. Check that your ATM card has a 4-digit PIN, as this is required. Some banks will offer more favourable transaction rates, so it is worth researching this beforehand. There is a limit to how much money you can withdraw from a Bolivian ATM, and this varies depending on the bank—smaller banks may limit you to around 1500 Bs, while larger banks may allow up to 6500 Bs (around 950 USD) per transaction.

Budgeting for expenses

Bolivia is one of the most affordable countries in South America. The official currency of Bolivia is the Boliviano (Bs) and it is a good idea to arrive with some cash in US dollars. The exchange rate of the Boliviano to the US dollar has been stable for a number of years, with 1 USD equalling around 6.9 Bolivianos.

Meals and drinks will cost approximately one-third to one-half the price you would expect to pay in North America. There is no sales tax, but restaurants will add a 10% service charge to the bill. Budget for about $25 for food per person per day.

For accommodation, you can expect to pay between $25-$60 per night for a good-quality, well-rated property.

For transportation, local buses, trains and trams provide an affordable way to get around, with an average price of 16 AUD.

If you want to take a taxi, it is a good idea to have small change as people are often reluctant to accept larger-denomination bills.

For activities and entertainment, there are plenty of free options, such as walking around the cities and exploring the local culture. For organised tours, prices start from 27 AUD.

If you are happy to stay in basic hotels and eat at local restaurants, you can get by on Bs140 ($20) per day. For a more comfortable trip, with better hotels and taxis, you can expect to pay around Bs280 ($40) per day.

It is worth noting that very little provision is made in Bolivia for disabled people. Public transport, hotels and public places are often not equipped with ramps or disabled toilets.

Money-saving tips

Bolivia is one of the most affordable countries in South America, and there are several ways to save money during your trip. Here are some tips to help you make the most of your budget:

• Exchange currency wisely: The official currency of Bolivia is the Boliviano (Bs or BOB). It is difficult to obtain Bolivianos outside of Bolivia, and it is recommended to bring US dollars to exchange. Some sources suggest bringing new, crisp USD bills, as old ones may be rejected. You can exchange USD at casas de cambio (exchange agencies) or with street money-changers, but you may need to negotiate for a preferable rate with the latter. Credit cards are also widely accepted, but some merchants may add a transaction fee. It is a good idea to carry multiple forms of payment, including cash and different types of credit cards.
• Be mindful of ATM usage: ATMs are available in major cities and some small towns in Bolivia, but it is recommended to use them during the day and in busy places to avoid potential fraud. There may be limits to the amount of money you can withdraw from ATMs, and foreign cards may be rejected or retained by the machines.
• Shop around for exchange rates: Exchange rates can vary between different providers. Money exchange services in cities and towns may offer better rates than banks, but it is recommended to use reputable and professional services to avoid scams.
• Book accommodation and tours in advance: Booking accommodation and tours online before your trip can help you find better deals and save money. However, it is also worth bargaining in person, as some tour companies may offer room for negotiation depending on demand.
• Eat and drink affordably: Meals and drinks in Bolivia are significantly cheaper than in North America. Street food and local restaurants offer tasty and affordable options, with dishes such as choripan and salteñas available for a few dollars or less. Bottled water and local beer are also inexpensive.
• Utilize free activities: Bolivia offers a range of free activities, such as exploring the outer walls of San Pedro Prison in La Paz or wandering the charming streets of Sucre and Copacabana. Nature lovers can also enjoy breathtaking sights like the Uyuni Salt Flats without breaking the bank.
• Travel by bus: Air-conditioned tourist coaches are a comfortable and budget-friendly option for travelling between cities in Bolivia. Buses are generally more affordable than flights, although longer journeys may be preferable by plane.

Frequently asked questions