Currency exchange in Usaquén, Bogotá

It is always advisable to change in official entities such as banks or official currency exchange branches. It is also recommended to take all the security measures (more details below) to be able to exchange dollars without surprises. Keep in mind that some banks only allow their clients to obtain foreign currency. If you are not a customer, it could be an issue.

They are a waste of time (long queues at slow banks) and money (fees to get them, fees to collect them).

Use your card to pay for more substantial items (usually hotel stays, shopping at large stores and restaurants, travel agencies, car/car rental agencies, etc.). Cash may be left for minor expenses or emergencies.

Credit card companies may offer competitive exchange rates, but many charge high commissions and interest rates. Besides, the interest on a cash advance begins immediately when you take the money instead of after the typical interest-free grace period for credit card charges.

As a general rule, exchange houses at airports almost always end up costing more money than they should be spending. Even if they say they don't charge commissions or fees, they still charge you a much less favorable exchange rate than you would get in a conventional bank.