Money & Currency
The peso in plain terms, whether to carry cash or card, what a coffee and a lunch really cost, and how tipping works here.
Colombia runs on the peso, roughly 4,000 to the US dollar. Cards work across Poblado and Laureles; carry a little cash for taxis and small tiendas. Restaurants add a voluntary 10% you approve.
Money in Medellín is easy once you’ve got the shape of it: one currency, cards accepted almost everywhere in the areas you’ll spend time, and a little cash for the small stuff. Here’s how to not overthink it.
The peso, in plain terms
Colombia runs on the Colombian peso (COP). The exchange rate moves, but a useful mental anchor is roughly 4,000 pesos to the US dollar — so a 20,000-peso lunch is about five dollars. Check a live rate the week you travel; it drifts.
The prices come with a lot of zeros, which trips people up for a day or two. A quick trick: knock three zeros off and you’re roughly in dollars-times-four territory. “50” on a menu means 50,000 pesos, around twelve dollars.
Card or cash?
In El Poblado, Laureles, malls, and most sit-down restaurants, cards work fine — Visa and Mastercard especially. Carry some cash for taxis, the corner tienda, market stalls, tips, and the small family places that are cash-only and often the best food you’ll eat.
Getting cash out
Use ATMs inside banks, malls, or well-lit shops rather than street-side machines. Bancolombia and Davivienda are everywhere. A few things to know:
- Most machines charge a withdrawal fee, and some cap you around 400,000–600,000 pesos per pull
- Choose to be charged in pesos, not your home currency, when the machine asks — the “convenience” conversion is a worse rate
- Tell your bank you’re traveling so the transaction doesn’t get frozen
What things actually cost
To calibrate your first few days:
- A specialty coffee: 6,000–10,000 pesos ($1.50–2.50)
- A hearty menú del día lunch: 15,000–25,000 pesos
- A nice dinner for two: 120,000–200,000 pesos
- A short Uber or DiDi ride: 8,000–15,000 pesos
- A metro ride: about 3,000 pesos
Tipping, the paisa way
At restaurants you’ll often be asked “¿Con propina?” or see a 10% servicio voluntario on the bill. It’s genuinely optional and you approve it — say yes for good service, and no without any awkwardness if the service was off. Rounding up for taxis is kind but not expected.
Keeping your money safe
The local phrase is no dar papaya — don’t hand someone an opportunity. Keep your phone off the table on the street, carry one card and a little cash rather than your whole wallet, and use ATMs indoors. It’s the same street sense any big city asks for, nothing paranoid.
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