The Best Places To Exchange Currency In Bolivia

If you're planning a trip to Bolivia, you'll need to get your hands on some Bolivianos, the country's official currency. While it's extremely difficult to get hold of this currency before you travel, there are plenty of options for exchanging your money once you arrive. You can exchange US dollars for Bolivianos at a Casa de Cambio (money exchange agency) or with street money changers, but be sure to negotiate a good rate with the latter. You can also use your debit or credit card to withdraw cash from an ATM, but be aware of foreign currency conversion fees and international ATM fees. Banks and exchange offices will also exchange your money, but be on the lookout for high commissions and exchange fees. It's worth noting that US dollars are widely accepted in larger cities and stores, but you'll need local currency in smaller towns and remote regions.

Exchanging money at the airport

La Paz Airport

The currency exchange at La Paz Airport has been described as "very fair" (close to 7 BOB per USD), although there is a 15 BOB service charge. It is recommended to exchange a larger amount of money to make the service charge worth it.

Other Options

If you are not flying into La Paz, or you would prefer to avoid exchanging money at the airport, there are other options available.

ATMs are available in major cities and some small towns in Bolivia, although they may not always work or have cash available. Banco Mercantil Santa Cruz has the option to withdraw in US dollars. It is recommended to use ATMs attached to banks, preferably during opening hours.

You can also exchange money at a "Casa de Cambio" (money exchange agency) or with street money changers, but you will need to negotiate for a preferable rate with the latter.

Using ATMs

Finding ATMs in Bolivia

ATMs can be found in most major cities and towns in Bolivia, but their availability decreases in smaller towns and rural areas. Look for ATMs at major airports, town squares (Plaza de Armas), tourist areas, and malls. Some ATMs are located inside banks, while others are standalone.

Popular Banks with ATMs in Bolivia

When looking for ATMs in Bolivia, you can try the following popular banks:

• BCP Bolivia
• Banca Ganadero
• BNB – Banco Nacional de Bolivia
• BancoSol
• Mercantil Santa Cruz

Types of Cards Accepted at ATMs

ATMs in Bolivia generally accept Visa and Mastercard. Other card networks that may be accepted include Cirrus, Plus, and Maestro. However, it is unlikely that ATMs will accept cards such as JCB, UnionPay, American Express, Diners, Discover, or RuPay.

Withdrawal Limits and Fees

The withdrawal limit per transaction can vary depending on the bank and your account type. In Bolivia, it typically ranges from Bs 500 to Bs 2000, with some ATMs allowing up to Bs 5000. There are also ATMs that charge no fees, while others may charge fees ranging from Bs 0 to Bs 69.67. It is recommended to use fee-free ATMs to save on transaction costs.

Safety at ATMs

When using ATMs in Bolivia, it is important to be cautious and aware of your surroundings. Utilize ATMs in busy, well-lit areas, and avoid using them at night. If possible, bring a companion when withdrawing cash, and always keep your cash secure and discreet after the transaction.

Additional Considerations

It is recommended to inform your bank about your travel plans to avoid any unexpected card freezes. Additionally, having multiple bank cards from different issuers can provide backup options in case of card retention or other issues. Carrying small denomination US Dollar notes can also be useful for exchange and small purchases, as USD is widely accepted in tourist areas.

Exchanging money at a bank or exchange office

If you're looking to exchange money at a bank or exchange office in Bolivia, there are a few things to keep in mind.

First, it's important to know that Bolivia's official currency is the Boliviano, often referred to as the peso. You'll want to have Bolivianos in cash for everyday expenses, especially smaller amounts, as many small stores and village businesses don't accept large denominations. You can exchange your money at official exchange offices, known as "casas de cambio", or banks. Banks typically offer better rates than exchange offices, but both are safer options than exchanging money with people on the street. When exchanging money, be sure to ask for a mix of larger bills and smaller coins to accommodate a range of transactions.

It's recommended to bring US dollars with you, as they are much more widely accepted and easily exchanged than other currencies. Crisp, new bills are preferred, as older bills are often inspected and rejected. You can also use your debit or credit card at an ATM for an instant exchange, but be sure to notify your bank before travelling to avoid any issues with your card being frozen due to unusual activity. Check with your bank about any foreign currency conversion fees and international ATM fees, as these can quickly add up.

ATMs are widely available in Bolivia's major cities and towns, but they may not be reliable in smaller villages. It's best to use ATMs during opening hours and those attached to banks, such as BNB or BBVA. Banco Mercantil Santa Cruz is also recommended, as it offers the option to withdraw in US dollars directly. It's also a good idea to carry a "Visa Internationale" or "Mastercard" credit card, as these are widely accepted.

Exchanging money at your hotel or hostel

It is generally recommended to bring US dollars to exchange in Bolivia, as other foreign currencies are difficult to exchange and will often result in poor rates. When bringing US dollars, ensure that the bills are in pristine condition, as banks in Bolivia will not accept notes with even minor tears or damage. It is also a good idea to bring smaller denomination notes, as these will be more useful for smaller purchases and can be used in some locations directly.

ATMs are available in major cities and some small towns in Bolivia, but they may not always be reliable. It is important to inform your bank before travelling to avoid any issues with your card being frozen due to suspected fraud. Additionally, be aware that there may be foreign currency conversion fees and international ATM fees charged by your bank for each withdrawal.

For the best exchange rates, consider using a "Casa de Cambio" or money exchange company. These can often offer better rates than banks, but it is important to compare rates and use reputable providers to avoid being taken advantage of.

Lastly, while it is possible to exchange money with street changers, this is not recommended unless you are confident in your Spanish abilities and have a good understanding of the current exchange rates. Street changers often offer poor rates and may not give you the correct amount.

Using credit cards

Credit cards are accepted in Bolivia, but they are far less common outside of the cities. Many mid-range and higher-end hotels, restaurants, and stores will accept cards but may charge a service fee for doing so. 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. All credit card transactions also pass through the tax system, so merchants have to declare them and pay tax. Visa is the most widely accepted card, followed by Mastercard; American Express cards are rarely used.

It is a good idea to bring at least two types of credit card in case one is not accepted. Tell your bank in advance that you will be travelling to Bolivia, and make sure your ATM card has a 4-digit PIN. Banco de Credito has favourable transaction rates, while Banco Union does not.

ATMs are plentiful in major cities and some small towns, but there is a limit to the amount of money you can withdraw from a Bolivian ATM, and this changes depending on the bank. Some smaller banks limit you to about Bs1500 per transaction, while larger ones can allow up to about Bs6500 (around $950 USD).

Frequently asked questions