Chile Local Currency Exchange and Payment Options

The Chilean peso is the official currency of Chile, and as a traveler, you'll want to know how to exchange it and make payments. You can exchange your money at a bank, a currency exchange office, or a hotel.

The Chilean peso is divided into 100 centavos, and you'll often see prices listed in both pesos and dollars. This is because many businesses, especially in tourist areas, price their goods and services in dollars to cater to foreign visitors.

You can use a credit or debit card to make purchases, but be aware that some businesses may not accept card payments, especially in smaller towns.

On a similar theme: Uruguayan Peso

The official currency in Chile is the Chilean peso, which is issued by the country's central bank — the Banco Central de Chile.

The local name of the currency is peso chileno, and its symbol is $, which can sometimes be displayed as $ or $CLP to avoid confusion with the US dollar.

The Chilean peso has not been divided into sub-units (cents) since 1984.

You can exchange your money for Chilean pesos at banks, currency exchange offices, or some hotels and restaurants.

Here are some key facts about the Chilean peso:

The Chilean peso comes in various denominations, including coins and banknotes, ranging from 10 pesos to 20,000 pesos.

Exchanging money in Chile can be a bit tricky, but with some knowledge, you'll be all set. Always compare exchange rates you're offered to the USD-CLP mid-market rate, so you're sure you're not getting ripped-off. Banks and foreign exchange kiosks often add a markup to the exchange rate, which pushes up prices overall.

You can check the current mid-market rate by using an online currency converter. Never, under any circumstances, exchange money on the street, as street money changers are often scam artists. They'll rip you off by using a rigged calculator, giving you fake banknotes, or simply running away with your money.

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There are several good options if you're changing USD to CLP in Santiago. Turismo Frontera, Cambio Costero, and Guiñazu are well-rated currency exchange stores that offer competitive rates. You can also consider using an ATM to make withdrawals, which often offer the best exchange rates possible.

The two main ATM networks in Chile are Redf and Redbanc, and ATMs are widespread, even in rural areas. However, many tend to run out of cash after 4 PM, so it's best to plan ahead. Most ATMs have an English language option, but you'll need to select "extranjeros" (foreign clients) after you key in your PIN to make a withdrawal with your foreign card.

Here are some popular places to exchange money in Chile:

Foreign exchange offices are the most convenient way to exchange currency in Chile, as they are open for longer than banks on weekdays and they offer better rates. The Chilean peso has 5 denominations: $1,000, $2,000, $5,000, $10,000, and $20,000. Coins are available in Chile but rarely used, with denominations of 10, 50, 100, or 500 pesos.

Check this out: Currency in Chile to Usd

Paying with money in Chile is relatively straightforward, but it's essential to know the basics to avoid any issues. Cash is the most practical way to pay for purchases in Chilean currency, especially outside of major cities.

You can use coins for small purchases and services, such as buses, taxis, gas, and groceries. Try to use small denominations when making cash payments, as large bills may be refused in rural and remote places.

Bank cards are widely accepted in major cities, but you'll need to put your passport number on the receipt as a security measure, and each transaction will incur a fee of up to 6% of the amount.

In remote areas or if there are connection problems with payment terminals, it's a good idea to carry Chilean money with you in the form of cash.

You can pay with credit or debit cards in Chile, but it's rare to find places that accept card payments in villages and rural areas.

If you plan on leaving the main tourist hotspots, make sure you have enough cash in your pocket to cover your expenses.

The most common card networks accepted in Chile are Visa, MasterCard, and AmEx.

Some merchants may impose a 2% to 4% surcharge when you pay by card.

Paying in cash is often cheaper than using a card.

You may be offered Dynamic Currency Conversion (DCC) when you spend with your card overseas, but it's not a good idea as it often comes with a poor exchange rate and high costs.

It's a good idea to pay in the local currency, CLP, to save money.

Recommended read: Pay in Local Currency or Usd

In Chile, you'll find that cash is still the most practical way to pay for purchases, especially outside of major cities. Cash is widely accepted and can be used to pay for small purchases and services like buses, taxis, and groceries.

Coins are also common in Chilean currency, and they can be used to pay for small transactions. However, large bills may be refused in rural and remote places, so it's best to use small denominations.

Bank cards, including credit and debit cards, are widely accepted in major cities, but may not be as common in rural areas. Merchants may also impose a 2% to 4% surcharge when you pay by card, making cash payments often cheaper.

To pay with your card, the most common networks are Visa, MasterCard, and AmEx. However, be aware that Dynamic Currency Conversion (DCC) may be offered, which can result in poor exchange rates and high costs.

Here's a quick rundown of payment methods in Chile:

It's always a good idea to carry some cash with you, especially when traveling to more remote places or in case of connection problems with payment terminals.

Chilean peso coins offer values of 1, 2, 5, 10, 20, 50, 100, and 500 pesos a piece.

You'll find that coins are still widely used in Chile, and in everyday speech, you'll often hear locals use terms like "una luca" for a sum of 1000 pesos, "una quina" for 500 pesos, and "una gamba" for 100,000 pesos.

The 1- and 5-peso coins were commonplace until November 1, 2017, but with merchants using rounded amounts, those coins are no longer used or minted. Similarly, 500-peso banknotes, while still legal tender, are no longer printed.

Here's a summary of the coins and banknotes in Chilean currency:

The design and production of the new family of banknotes was assigned to international companies, with Note Printing Australia Ltd handling the 1000, 2000, and 5000 peso notes, and Crane AB handling the 10,000 and 20,000 peso notes.

If you're traveling to Chile, you'll want to know some fun facts about the local currency. The Chileans have a unique way of referring to their money, with nicknames like "lucas" for 1,000 pesos, "quinas" for 500 pesos, and "gambas" for 100 pesos.

You might be surprised to learn that the 1 peso and 5 peso coins are mostly used for decoration, as the locals don't care much for them. They're more likely to be used as trinkets than for actual spending.

Some Chilean coins are actually valuable due to misprints. The 2008 misprinted 50 peso coins with "Chile" misspelled as "Chiie" can be worth a pretty penny. Who knew mistakes could be so valuable?

The pricier banknotes often have nicknames based on the people featured on them. For example, the 5,000 peso note is nicknamed "gabriela" after Gabriela Mistral.