Day 2 here in Colombia, and I´m quickly learning the ropes.
What´s cheaper than Ecuador, what´s not, and what´s a LOT cheaper.
But I´ve learned that just as important as knowing what to buy is HOW to buy?
To get the best deals in Colombia pay for EVERYTHING on credit card!
If you take dollars to exchange to pesos you will get a really lousy exchange rate, right now on the street and in the banks its around $2680 pesos to $1 USD.
If you take out of the ATMs using your Ecuadorian or international bank card like I did directly into pesos you will get hit with several nasty surcharges.
To be specific, I took out $100 USD worth of pesos from my Ecuadorian Banco Pichincha ATM card and I got nabbed with about $10 in fees!
But… if you buy things with a credit card you will get without a doubt the best rate once the purchase is converted over to your currency, actually, you will get the official exchange rate of $3125 pesos to $1 USD. No extra fees.
So forget the cash, and take a few credit cards on a side trip from Ecuador to Colombia and take advantage of one of the most devalued currencies in the world over the last year!
So far so good, I already bought one item I need for my business in Ecuador that in Ecuador costs $700, here I got it for $265! Learn about it and many more of the most profitable items to bring back from Colombia to Ecuador in my new Insiders Guide to Random Importing to Ecuador, ideal for ANYONE looking to travel to Ecuador (or for an expat living in Ecuador) that goes back frequently to the United States or Canada looking to make a few extra bucks.
Why not have your trip pay for itself, and more?
If you liked this article, you’d love my weekly newsletter, revealing everything you need to know BEFORE you invest in Ecuador. Unsubscribe at any time: