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Travel Money Guide: South America
Peso, sol or real? Compare your travel money options so you can switch off and enjoy your next adventure.
Types
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With the Galapagos tempting you offshore, Machu Picchu nestled in the slopes of the Andes and the Amazon rainforest just waiting to be explored, it's easy to forget that South America is made up of 12 different countries with 12 separate currencies.
Our top tip for paying your way through? Make sure to have an emergency supply of cash, especially when travelling to rural locations like the Amazon where some towns have no ATM at all.
Compare travel money options for South America
With so many currencies to contend with, it's important to have a combination of travel money options including credit and debit cards, local currency and US dollars as a backup, which are accepted in multiple South American countries.
What should I know about money for South America?
Some of the major South American currencies include:
- Argentine peso
- Bolivian boliviano
- Brazilian real
- Chilean peso
- Colombian peso
- Peruvian nuevo sol
- Uruguayan peso
- Venezuelan bolivar
What should I take, a travel card, debit card, or credit card?
Visa and Mastercard branded credit cards, debit cards and travel cards enjoy wide acceptance throughout the continent of South America. Merchants which have the facilities to accept card payments will accept both these card scheme brands, American Express is accepted in few places besides high-end businesses. Stick to a Visa or Mastercard product so you can make withdrawals and card payments in a variety of places.
Travel money options for South America at a glance
| Travel money option | Pros | Considerations |
|---|---|---|
| Debit cards for travel |
|
|
| Prepaid travel money cards |
|
|
| Credit cards for travel |
|
|
| Cash |
|
|
This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.
How each travel money option works in South America
Credit cards
Credit cards provide a line of credit with limited interest free terms which can be used all over the world (American Express and Diners Club Cards in fewer places than Mastercard and Visa). Choose a credit card which doesn't charge for currency conversion to save money on international transaction fees when travelling through South America. Bankwest Platinum cards won't charge for international withdrawals as well as currency conversion. ATM withdrawals using your credit card are not advised if you're concerned with saving money, as you'll be charged high cash advance fees. But you can sometimes load a credit card with a positive balance to cut out cash advance fees and charges when used at an ATM. The card scheme anti-fraud guarantees don't apply when you withdraw from an ATM using a credit card with a positive balance.
Debit cards
A travel friendly transaction account is a better travel money option for a trip to South America. By choosing a debit card which lets you transact in a foreign currency without paying for currency conversion, you can use the account over the counter in South America as you would in Australia for no extra cost. Most debit card providers apply a $5 charge for international ATM withdrawals. As well as no currency conversion fees, the Citibank Plus Transaction Account also waives the additional charge for international ATM withdrawals.
- Tip: Westpac cardholders (including St.George, BankSA and Bank of Melbourne cardholders) can avoid the international ATM withdrawal fee using ScotiaBank ATMs in Chile and Peru thanks to the Westpac Global Alliance.
Travel prepaid cards
No prepaid travel cards support the currencies of the South American countries, so these products shouldn't be considered for a trip to the continent unless it doesn't charge a currency conversion fee. Although you can load US Dollars onto these travel money products, acceptance is limited and you'll pay to convert funds twice. Travel card providers apply a margin to the exchange rate when you convert funds and then a currency conversion fee applies when you spend in a currency not loaded on the card. While there are products which will waive the currency conversion fee, other fees apply when you withdraw cash or reload the card for example. Consider one of the other forms of travel money compared on this page for a trip to South America.
- Tip: The South American regions of French Guiana off the coast of Brazil and the Falkland Islands adjacent to Argentina use the euro and pound respectively. A travel card is suited to spend in these overseas departments of France and United Kingdom.
Traveller's cheques
Don't bother taking traveller's cheques to South America. They're difficult to cash and expensive, and no more secure than using a debit card (ATMs in South America are everywhere), credit card or prepaid travel card.
Cash
South America is one destination where you're going to need to have a supply of cash for emergencies. Although you can use your card in more places now more than ever, there's no guarantee that you'll be able to access cash at any given moment, especially outside of major cities. Card payment facilities vary greatly depending on the location. You won't have a problem with card acceptance and ATM withdrawals in the capital cities, especially in countries like Chile, Brazil, Colombia and Argentina for example. However, there are major tourist attractions, like the Amazon, where you're going to need enough cash to last you for the entire leg of your trip.
Using ATMs in South America
Visa and Mastercard should work at all ATMs where you can see a Maestro, Cirrus, Mastercard or Visa logo on the front of the machine.
- Tip: Anecdotal evidence suggests that ATMs in the Amazon region of Brazil, some parts of Venezuela and Bolivia will not accept foreign debit cards. Ensure you have enough cash to last you the duration of your stay if you're visiting these regions.
- Tip: Smaller towns in rural areas may not provide ATM facilities. Research your destination for advice from other travellers before you arrive. Always try to use ATMs attached to the side of a bank.
- Tip: ATMs will give you your money before your card, which can lead to instances of people leaving their card in the machine.
Exchanging cash in South America
ATM withdrawals are by far the most efficient way to get local currency in cash on your holiday. ATMs are located all throughout the continent. If you want to carry cash as an emergency backup, US Dollars are widely accepted and the choice of money if you can't pay in the local currency. While the major exchange offices in shopping centres and in tourist locations will exchange Australian Dollars, but US Dollars are preferred.
Exchange rate history
| Year | Exchange Australian Dollar (AUD) to US Dollar (USD) ($1 AUD=) |
|---|---|
| 2012 | 1.02 |
| 2013 | 1.04 |
| 2014 | .89 |
| 2015 | .82 |
| 2016 | .73 |
| 2017 | .72 |
| 2018 | .78 |
*Exchange rates are accurate as of 1 January of each year
Some of the major South American currencies include:
- Argentine peso
- Bolivian boliviano
- Brazilian real
- Chilean peso
- Colombian peso
- Peruvian nuevo sol
- Uruguayan peso
- Venezuelan bolivar
How much money do I need to bring to South America?
From country to country and region to region, prices in Brazil are more expensive than Ecuador, Ibague (the 7th largest city in Colombia) is cheaper than Medellin (the 2nd biggest city in Colombia). You'll find prices are varied in South America. Wherever your travel, the continent can be as expensive as you make it. Below you can find some budget prices for different countries in South America.
| Bogotá (Colombia) | Brasília (Brazil) | Lima (Peru) | Santiago (Chile) | |
|---|---|---|---|---|
 | Hostel dorm bed$10 per night | Hostel dorm bed$20 per night | Hostel dorm bed$10 per night | Hostel dorm$12 per night |
 | Arepa con queso on the street$1.50 | El Negro Food Truck. El Matanza (hot dog)$4.50 | Ceviche pescado in a cheap restaurant$2 -$3 | Empanada on the street$1 |
 | Bogota graffiti tour Free (donation based on satisfaction) | See the city from the top of the television tower Free | See the changing of the guards at the Presidential PalaceFree | Museo Histórico NacionalFree on Sundays and holidays |
*Prices are approximate and are subject to change.
Back to topBuying currency in Australia
It will be cheaper if you wait to exchange your money when you arrive. Rates on offer in Australia for South American currencies are worse than what you get get from local banks and money changers. If you do want to get money changed in Australia, it's a good idea to get US Dollars if you can't purchase specific South American currencies. Colombian Pesos, Bolivian Bolivianos and Venezuelan Bolívars may be hard to get in Australia. Consider these institutions if you want to purchase foreign cash:
| Bank | Currencies | ||||
|---|---|---|---|---|---|
| Brazil Reals | Chilean Pesos | US Dollars | Colombian Pesos | Argentine Pesos | |
| American Express | |||||
| ANZ | |||||
| Australia Post | |||||
| Commonwealth Bank | |||||
| NAB | |||||
| Travelex | |||||
| Westpac | |||||
How much money do I need to bring to South America?
From country to country and region to region, prices in Brazil are more expensive than Ecuador, Ibague (the 7th largest city in Colombia) is cheaper than Medellin (the 2nd biggest city in Colombia). You'll find prices are varied in South America. Wherever your travel, the continent can be as expensive as you make it. Below you can find some budget prices for different countries in South America.
| Bogotá (Colombia) | Brasília (Brazil) | Lima (Peru) | Santiago (Chile) | |
|---|---|---|---|---|
| Hostel dorm bed$10 per night | Hostel dorm bed$20 per night | Hostel dorm bed$10 per night | Hostel dorm$12 per night |
| Arepa con queso on the street$1.50 | El Negro Food Truck. El Matanza (hot dog)$4.50 | Ceviche pescado in a cheap restaurant$2 -$3 | Empanada on the street$1 |
| Bogota graffiti tour Free (donation based on satisfaction) | See the city from the top of the television tower Free | See the changing of the guards at the Presidential PalaceFree | Museo Histórico NacionalFree on Sundays and holidays |
*Prices are approximate and are subject to change.
A quick guide to the Brazilian Real
Did you know?
The Brazilian word for the national currency, 'real' means both real and royal and all Brazilian coins feature the Southern Cross!
Why you'll need a combination of travel money options
It's important to take a combination of travel money options wherever you go in the world, but this is especially true for a trip to South America. As we've seen with Will and his trouble with card acceptance in Cuba (not technically South America but his anecdote is still relevant), it's important to have a combination of cards and cash to use a backup. Have US Dollars on hand to use in emergencies and a travel card or debit card and credit card combination to use when necessary.
Back to top
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Ask an Expert
Like many others , I am quite confused.
I have a CBA travel card with GBP still on it, and was going to convert it to USD. Now I am wondering if there is any point , if my USD s have to be converted to the local currency , would I lose less money by leaving the GBP on it ? I would be taking some cash out in the local currency, and also using the card as a credit/debit card .
I also need to load more money onto the card, and for the same reason above, would it be better to just load AUD ?
I am travelling mostly to Peru, Ecuador ,Argentina ,and Brazil on an organised trip, so will just have to pay for food and souvenirs. I will be taking some small denominations in USD .
Thank you
Hi Pauline,
Thank you for your questions.
As a financial comparison service, we’re unable to recommend any specific product, service or strategy to our users as the best option will always depend on the user and their individual financial needs.
As there aren’t many prepaid travel money options for Australians travelling in South America, you would find that when you load any funds on the card (whether it be AUD, GBP or USD or any other supported currency) and make a transaction in a local currency, that you would incur a currency conversion fee.
However, as we mention on our South America Travel Money Guide, US currency is widely accepted in South America. As such, you may find that loading your card with USD could result in the least amount of currency conversion or foreign transaction fees.
You may wish to consider the fees, rates and exchange rates involved to determine which option poses the most value for you.
I hope this has helped answer your question.
Thanks,
Sally
I have an ANZ Platinum Visa but am curious about being able to withdraw cash for spending money. Am I best to have a travel card for my spending money and just use the Platinum Visa for my big items??
Hi Shahne,
Thank you for your question.
Travel cards can be used to make direct EFTPOS payments or for ATM withdrawals. An advantage of the travel card is that, unlike a credit card, you are using your own funds that you have loaded onto the card and can manage your budget while spending overseas. Some travel cards can support several currencies and offer the benefit of no currency conversion fees. However, the features available to you will largely depend on which travel card you use.
To compare your travel card options, please view our Travel Money Card Finder.
I hope this has answered your question.
Thanks,
Sally
Hi! We were wondering if Aussie dollars are accepted in Peru, Bolivia, Chile, Argentina, Brazil, Eucador?
Exchanged for local currency in these countries
Cheers
Hi Tony,
Thanks for your question.
In South America you can generally pay with the USD everywhere. You can choose to change your AUD into USD, or if the local exchanges let you, you can directly exchange your AUD into the local currency.
Cheers,
Shirley
I am in Colonia Uragauy site seeing ,,I can’t use my citibank Visa card in any of the ATMs because they won’t accept the data chip on the card this is also the case with all my other Australian cards ,,same issue in Montevideo,,please advise
Hi Johan,
Thanks for your question.
Unfortunately it could be an acceptance issue with the card. If you have other travel money options like cash, it’s advisable to use that instead.
It might be best to get in touch with Citibank as well to see if they have offer any replacement options.
Cheers,
Shirley
Hi there,
Last week paed for 2 CBA travel money cards.
This week rang their travel centre and the woman said that mastercard is not accepted in South Ameerica !
Help so do I also get maybe an NAB Visa or Debit card??
So confusing, please help esp anyone who has just returned.
I’m going for 5 weeks to 4 countries.
Thx Amanda
Hi Amanda,
Thanks for your question.
You can take a look at this page to read about your South America travel money options.
I hope this will help.
Thanks,
Elizabeth