Accessing funds through an ATM, un Redbanc is by far the easiest and most convenient way of carrying money while in Chile. Most ATMs use the Plus (Visa) or Cirrus (MasterCard) systems and will accept your debit card. Most also have instructions in Spanish and English. You may have to pick an option titled tarjeta extranjera (foreign card) before starting the transaction.
You'll find machines in most towns (with the exception of Chile's Pacific Islands and small highland villages). ATMs are often open 24 hours and give decent exchange rates, though your bank will probably charge a fee for each foreign ATM transaction.
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Currency
- Name Chilean Peso
- Symbol Ch$
Peso notes come in denominations of 500, 1000, 2000, 5000, 10,000 and 20,000. Try to carry small bills with you, as it can be difficult to change bills larger than Ch$1000 in rural areas.
Coin values are 1, 5, 10, 50, 100 and 500 pesos, although one-peso coins are fast disappearing, even fives and tens are uncommon.
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Changing Your Money
Exchange rates are usually best in Santiago. Generally, only Santiago will have a ready market for European currencies. Chile's currency has been pretty stable in recent years, but naturally, fluctuation may occur. Paying a bill with US cash is sometimes acceptable, especially at tour agencies (check their exchange rate carefully). Many top-end hotels publish rates in US dollars with a lower exchange rate than the daily one.
Compare the rates carefully to determine whether paying in pesos or US cash is the more favorable option. Other than that, expect to pay all transactions in the local currency.
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Money Tips
Revaluation of the Chilean peso and tourist sector inflation have increased travel costs substantially in the past few years, so that Chile is no longer inexpensive. However, it's still possible to travel on a budget. Allow a minimum of US$25.00 per day for food and lodging, but if you purchase your food at markets or eat at modest restaurants you may be able to get by more cheaply.
Sample Price Guide
- bottle of red wine
- US$ 3.00
- car hire per day
- US$ 70.00
- litre of petrol
- US$ 1.00
- bottle of water (1L)
- US$ 0.50
- souvenir t-shirt
- US$ 5.00
- empanada (snack)
- US$ 0.50
- internet per hour
- US$ 1.00
- set lunch
- US$ 3.50
Average Room Prices
Low Mid High Deluxe US$10-20 US$20-35 US$35-60 US$60+ Average Meal Prices
Low Mid High Deluxe US$3-5 US$5-20 US$20-30 US$30+ -
Tipping
In restaurants, it is customary to tip about 10% of the bill. In general, waiters and waitresses are poorly paid, so if you can afford to eat out, you can afford to tip. Taxi drivers do not require tips, although you may round off the fare for convenience. Handicrafts markets are subject to bargaining, and haggling on hotel prices is possible in the off-season or for long stays.
