Is Colombia a cash or card country?

Mostly cash, but it depends on the kind of shop. The Banco de la República survey was published in February 2023 with 2022 data. It found cash accounted for 78.4% of habitual monthly payments by number, with transfers at 12.6%, debit cards at 7.9% and credit cards at 1.2%. Cash had been 88.1% in 2019.

Merchants differed widely. 92.8% of hypermarkets accepted debit and credit cards, against 3.6% (debit) and 2.8% (credit) of neighbourhood shops. Electronic transfers were accepted more widely, but they are designed for Colombian bank accounts.

Where you are paying What to use Why
Hotel, hypermarket, large chain Card Card acceptance is near-universal in large formats
Neighbourhood shop, market stall, bakery Cash (small notes) Under 4% of these shops took cards in 2022
Restaurant Card if offered, cash for small places Ask before ordering; check the tip line
TransMilenio or Medellín metro card top-up Cash at recharge points, or apps See the airport guides for each city
Anything over 3 UVT you will take home Card, with an electronic invoice in your name Needed for the tourist VAT refund

These are 2022 national figures from a survey of how people pay. They show how common card acceptance is, but not whether a particular shop in Bogotá takes cards. Ask at the till.

The peso notes in circulation are COP 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000, according to Banco de la República. Coins go up to COP 1,000. Small shops and taxis often struggle to change a 100,000 note, so break large notes at supermarkets.

What do ATMs in Colombia charge?

There is no single answer, and no national cap. The Superintendencia Financiera says Colombian financial institutions set their fees freely. They must give consumers the information they need, before the service, to make an informed choice. For you, that means two fees: the Colombian bank's fee for using its ATM, and whatever your home bank charges for a foreign withdrawal. Per-withdrawal limits are also set by the ATM's bank and your card issuer. We found no official figure that applies to all banks.

Where can I change money legally?

DIAN's exchange-control FAQ says professional buying and selling of foreign cash can be done only by dealers authorised in advance by DIAN, or by banks and other authorised intermediaries. When you buy or sell currency with one of these dealers, a foreign-exchange declaration (declaración de cambio) is completed, so bring your passport. Street changers are not on DIAN's list of authorised channels, and if a note is forged or the count is short, you have no record to complain with.

If you carry more than USD 10,000, or the equivalent, in cash into or out of Colombia, DIAN Form 530 must be completed. The full border rules are in the Colombia entry and Check-MIG guide.

How does the tourist VAT refund work?

Colombia refunds VAT (IVA) on goods, not services, that foreign tourists buy and take out of the country. DIAN's refund page sets the thresholds in UVT, a tax unit the government resets each year. DIAN set the UVT for 2026 at COP 52,374 in Resolución 000238.

Rule Value in UVT 2026 value in pesos
Each invoice must be over 3 UVT Over COP 157,122
Maximum refund per request 200 UVT COP 10,474,800

Under DIAN's tourist ABC, you qualify as a foreigner without Colombian nationality who entered on a tourist permit. Each purchase needs an electronic invoice with a CUFE code or QR code, showing your full name and passport number. POS till receipts do not qualify. You make the request when you leave by air, before you check in your luggage, at the DIAN office in the airport or at a self-service kiosk.

The approved amount is paid in pesos to a credit card issued outside Colombia, less financial and operating costs. DIAN says an office decision takes up to one month, and a kiosk decision up to 10 days. The 2026 Spanish ABC also carries the 2026 UVT value and repeats that you must apply before checking luggage.

Worked example. You buy a leather jacket for COP 420,000 and two gifts for COP 90,000 each, in separate shops. Only the jacket invoice is over COP 157,122, so only its VAT can be claimed. The two COP 90,000 purchases fall below the threshold and do not count. To claim, ask the shop for an electronic invoice with your passport number, keep the jacket with you until the refund request is made, and add your foreign credit card to the request.

How much should I tip in Colombia?

According to the Superintendencia de Industria y Comercio, the tip (propina) is voluntary. A business may suggest a tip of no more than 10% of the bill. Staff must ask whether you want it included when you ask for the bill. You can refuse or change it, even after the bill is printed. Businesses must also display notices about this at the entrance and on menus.

On a COP 120,000 dinner bill, the most a restaurant can suggest is COP 12,000. If it is added without anyone asking you, you can ask for it to be removed. If staff refuse, the SIC takes complaints through its PQRSD form. It says businesses that break the rules can be fined up to 2,000 monthly minimum wages.

What to do if something goes wrong

  • The ATM declines your card: try an ATM from a different bank before assuming your card is blocked. Your home bank may have flagged the foreign withdrawal, so check its app.
  • The ATM shows a fee you did not expect: cancel before you confirm. The Superfinanciera says banks must disclose costs so you can accept or reject them.
  • A shop will not give you an electronic invoice: without one there is no VAT refund. Decide before paying whether the refund matters on that purchase.
  • You are charged a tip you did not agree to: ask for it to be removed. If staff refuse, keep the bill and complain to the SIC.

For what the ride into town costs in pesos, see El Dorado airport to Bogotá and José María Córdova airport to Medellín.