Using Credit Cards In Bolivia: Which Ones Work?

If you're planning a trip to Bolivia, it's a good idea to bring at least two types of credit card, as some may not be accepted. Visa is the most widely accepted, followed by Mastercard, while American Express cards are rarely used. Credit cards accepted in Bolivia include Visa, Mastercard, American Express, and Diners Club. However, some merchants and restaurants will add a credit card transaction fee. It's also important to note that ATMs are readily available in major cities and some small towns, but it's recommended to use those located inside hotels, stores, restaurants, or banks for safety reasons.

Credit cards in Bolivia: Visa, Mastercard, and more

Credit cards are accepted in Bolivia, but the country is not as advanced as most when it comes to banking, payments, and currency exchange. It's a good idea to bring at least two types of credit card in case one is not accepted. Visa is the most widely accepted, followed by Mastercard. American Express is rarely used and not accepted at all according to one source.

Credit cards can be used in most establishments, but it's more common to pay by card in cities than outside of them. Many mid-range and higher-end hotels, restaurants and stores will accept cards but will usually charge a service fee for doing so. This is because merchant service fees are high, often the payment is taken in USD, and there is an additional banking charge for all USD transactions. All credit card transactions pass through the tax system, so merchants will have to declare them and pay tax.

ATMs are plentiful in major cities and some small towns, but it's best to be prepared and carry cash when heading to rural areas. US dollars can be changed into bolivianos at banks and by street money changers almost everywhere in the country.

Using cash in Bolivia

The official currency of Bolivia is the Boliviano, denoted by Bs or BOB. The exchange rate of the Boliviano to the US dollar has been stable for several years, with 1 USD worth around 6.9 Bolivianos.

It is very difficult to obtain Bolivianos before arriving in the country. 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 some Bolivianos upon arrival. If you are crossing the land border from Peru or Argentina, you can exchange US dollars for Bolivianos in the border towns of Desaguadero, Copacabana, or Villazon.

US dollars are the only foreign currency that is widely accepted and easily exchanged in Bolivia. Other currencies, such as Canadian dollars, Australian dollars, and UK pounds, are extremely difficult to exchange and will result in poor rates. Euros may be slightly more successful, but it is still advised to bring US dollars. Ensure that your US dollar bills are crisp and new, as old bills are often rejected.

ATMs are available in major cities and some small towns, but it is advised to carry cash when travelling to smaller towns. Banco de Credito is recommended for favourable transaction rates. There is a limit to the amount of money you can withdraw from ATMs, ranging from 1500 Bs to 6500 Bs (around 950 USD) per transaction, depending on the bank. Additionally, some ATMs may not accept foreign cards, and there are reports of cards being retained by these machines.

Money exchange services, known as "casas de cambio" or "bureau de change," can be found in every city and most towns, often offering better rates than banks. It is recommended to use reputable and professional services and exercise caution with street exchangers.

Change and coins are in short supply in Bolivia, and many businesses, such as local buses, shops, and taxis, may not accept large denomination notes. Try to break large notes whenever possible, such as in hotels, restaurants, large stores, or bus companies.

While credit cards are becoming more widely accepted, particularly Visa and Mastercard, it is still best to carry cash as a backup. Many mid-range and higher-end hotels and restaurants will accept credit cards but may charge a service fee. American Express is rarely accepted.

ATMs in Bolivia

ATMs are available in Bolivia, but they are more common in major cities like La Paz and Santa Cruz than in smaller towns. Banco Mercantil Santa Cruz, Banco Bisa, BNB (Banco Nacional de Bolivia), and BCP (Banco de Crédito) are some of the banks that should accept foreign cards. However, it is always a good idea to carry cash as a backup, as connections to banking systems can be unstable, and some ATMs may run out of cash or not be functional.

When using ATMs in Bolivia, be cautious of fraud and credit card skimming, where fraudsters copy card information. It is also important to inform your bank in advance about your travel plans to avoid any issues with foreign transactions. Additionally, make sure to bring at least two types of credit cards to ensure compatibility and have a backup option.

Before your trip, it is recommended to exchange your currency for US dollars, as they are widely accepted and can be easily exchanged in Bolivia. When bringing US bills, ensure they are new and crisp, as older bills may be rejected due to strict quality standards.

Traveller's cheques

American Express was, historically, one of the main issuers of traveller's cheques. However, they no longer issue new traveller's cheques, although valid cheques remain backed by the company and have no expiration date. You can redeem American Express traveller's cheques online, over the phone, or at eligible foreign exchange partners or merchant locations worldwide. You may need to provide photo identification, and commission charges may apply.

In Bolivia, there are American Express offices in La Paz and Santa Cruz, where you can redeem traveller's cheques. There is also a bank on Plaza Quintanilla in Cochabamba called Banco Santa Cruz, which sells traveller's cheques for a 1% commission.

Exchanging currency in Bolivia

The official currency of Bolivia is the Boliviano, with the symbol Bs or Bs., and the exchange rate has remained quite stable in recent years.

It is difficult to obtain Bolivianos before arriving in the country, unless you are in a neighbouring country such as Peru or Argentina, and even then, the rates are usually poor. It is recommended to bring US dollars to exchange, as other currencies are hard to exchange and the rates are terrible.

If you are flying into La Paz or Santa Cruz airports, you can exchange currency or withdraw Bolivianos from an ATM upon arrival. If you are crossing the border from Peru or Argentina, you can exchange USD to Bolivianos in the border towns of Desaguadero, Copacabana, and Villazon.

It is best to bring plenty of small-denomination US dollar notes to give you flexibility when changing money, as many places will accept payment in USD, although not always at great rates. Make sure your bills are crisp and new, as old, ripped, or creased bills are often rejected.

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. Money exchange services can be found in every city and most towns, and they often give better rates than the banks, so it is worth checking them out. Stick to reputable-looking offices, and be cautious of street exchangers.

ATMs can be found in major cities, but they are less common in smaller towns, so it is advised to travel with cash. Banco de Credito has favourable transaction rates, while Banco Union does not. There is a limit to the amount of money you can withdraw from a Bolivian ATM, and this varies depending on the bank. Some smaller banks limit withdrawals to around Bs1500, while larger banks allow up to approximately Bs6500 per transaction.

Credit cards are accepted in Bolivia, including Visa, Mastercard, and American Express. However, some merchants and restaurants will add a credit card transaction fee, and you may need to show a form of ID such as a driver's license. It is recommended to bring at least two types of credit card in case one is not accepted.

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