Introduction
If you’re planning a trip to Peru, you’re probably wondering about the best way to exchange your money. While it’s always convenient to use your credit card or withdraw cash from an ATM, there are times when you’ll need to exchange your currency for Peruvian soles. In this article, we’ll give you some tips and tricks on how to get the best exchange rate, the most convenient places to exchange your money, and reviews of some of the most popular money exchange services in Peru.
Getting the Best Exchange Rate
Before you exchange your money, it’s important to do some research and compare the exchange rates of different services. You can use websites like XE or Oanda to check the current exchange rate between your currency and Peruvian soles. Keep in mind that the exchange rates at banks and money exchange services may differ slightly from the rates listed online.
Tip #1: Avoid exchanging money at the airport
While it may be tempting to exchange your money at the airport, the exchange rates are often much worse than other places in the city. If possible, wait until you get to your hotel or a more central location to exchange your money.
Tip #2: Look for exchange services with no commission
Some exchange services charge a commission on top of the exchange rate, which can add up to a significant amount if you’re exchanging a large sum of money. Look for services that offer a “no commission” exchange rate.
The Most Convenient Places to Exchange Your Money
Option #1: Banks
Banks are a safe and reliable option for exchanging your money, but they may not offer the best exchange rates. If you’re exchanging a small amount of money and convenience is your top priority, banks are a good option.
Option #2: Money Exchange Services
Money exchange services are often located in busy tourist areas and offer competitive exchange rates. Some popular money exchange services in Peru include Western Union, Moneygram, and Casa de Cambio.
Option #3: ATMs
ATMs are a convenient option for withdrawing cash, but they often charge a withdrawal fee and the exchange rate may not be as favorable as other options. If you do use an ATM, make sure to notify your bank before your trip to avoid any issues with your account being frozen.
Reviews of Money Exchange Services in Peru
Western Union
Western Union is a popular money exchange service that offers competitive exchange rates and no commission. They have multiple locations throughout Peru, making it a convenient option for travelers. However, some users have reported long wait times and slow service at certain locations.
Moneygram
Moneygram is another reliable option for exchanging your money, with multiple locations throughout Peru. They also offer competitive exchange rates and no commission. However, some users have reported difficulty with finding a location that accepts their currency.
Casa de Cambio
Casa de Cambio is a chain of money exchange services located throughout Peru. They offer competitive exchange rates and no commission, and are often located in busy tourist areas. Some users have reported slow service and long wait times during peak travel season.
Conclusion
With these tips and tricks, you’ll be able to exchange your money in Peru with confidence. Remember to do your research, compare exchange rates, and choose a reliable service. Whether you choose a bank, money exchange service, or ATM, you’ll be able to enjoy your trip to Peru without worrying about your money.
