When traveling through South America, one of the main concerns is how to manage money. So, is it better to pay with a card or carry cash? To answer this question, it’s essential to understand the particularities of each country regarding currency exchange, tax benefits, and payment options. In this guide, we explore the best choices in Argentina, Uruguay, and Chile.
Each country has its own currency exchange system. Therefore, before traveling, it’s crucial to know the available options in each destination.
Argentina: Exchanging money at official exchange houses might not be the best option. However, to get a more favorable exchange rate, many travelers prefer using the MEP dollar, a legal option that provides access to a higher rate through bank transfers.
Uruguay: In this case, exchange houses offer competitive and safe rates. It’s also possible to pay with a credit card without noticing a significant difference in fees.
Chile: Here, the best option is to exchange money at city exchange houses. It’s important to avoid airports, as they usually have higher exchange rates.
Both options have pros and cons, depending on the country and your situation. Let’s break down the benefits of each:
Paying in Cash:
In Argentina, paying in cash can be a good option to avoid the official exchange rate, which is unfavorable for tourists. In Uruguay, cash payments may allow you to negotiate lower prices in some stores. Paying in cash helps you avoid surcharges or unexpected fluctuations in the conversion rate.
Paying by Credit Card:
Uruguay offers an excellent benefit: Tax-Free shopping at certain businesses, like restaurants, with automatic VAT refunds. In Argentina, the “tourist dollar” applies, which gives foreign cards a better rate than the official exchange rate. In Chile, credit card use is common and safe, though it’s wise to check for international transaction fees.
When exchanging money, it is essential to ensure the transaction is safe. Here are some tips to avoid issues with counterfeit bills or unfavorable rates:
Argentina: Avoid street money changers. It’s better to use legal platforms like the MEP dollar to get a better rate.
Uruguay: In this case, exchange houses offer competitive and safe rate.
Chile: Exchange money at official exchange houses, and always check the updated exchange rate for the best deal.
Staying informed about the exchange rate is key to avoiding unexpected fluctuations. Some useful apps include:
Dólar Blue & CCL (Argentina): Shows the different exchange rates in Argentina, keeping you aware of fluctuations.
XE Currency: This app allows real-time currency conversions and is very popular among travelers.
Conversor de Monedas Plus: Easy to use and doesn’t require an internet connection — ideal for travelers visiting areas with limited coverage.
Flexibility and Security When Managing Your Money
Each country has its own rules and benefits when it comes to payments. Generally, a combination of cash and international credit cards will give you greater flexibility and security. If you’re planning a trip to Argentina, Uruguay, or Chile, we invite you to check out our travel packages and prepare with the best information.
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