Chile is one of the easiest countries in South America for handling money: it has a stable, efficient banking system and low inflation, so prices hold steady and cards work smoothly in the cities. The main thing to plan for is cash in the remote south and the desert north, where ATMs thin out. Here’s what you need to know.
The currency is the Chilean peso (CLP). It’s always handy to have some local currency in your pocket, and US dollars and euros are easily exchanged — casas de cambio usually give the best rates, followed by banks, with hotels and some restaurants also able to change money. Familiarise yourself with the current rate before you travel so you have a feel for prices.
Credit and debit cards are widely accepted in cities and at established hotels and restaurants. Banks and ATMs are plentiful in major cities, making cash easy to withdraw — though most ATMs charge foreigners a transaction fee (Scotiabank and Banco del Estado are notable exceptions). As always, bring two cards as a backup and tell your bank your travel dates so they aren’t blocked.
Carry enough cash when you leave the cities. South of Puerto Montt in Patagonia, ATMs are less common and cards aren’t as widely accepted, so plan ahead — in Futaleufú, for instance, there’s just one ATM (Mastercard/Cirrus). Easter Island and San Pedro de Atacama have ATMs, but they sometimes run out of cash, so withdraw what you’ll need when you can.
Chile generally costs about half to two-thirds of North American or European prices. Everyday meals and drinks are around half what you’d pay back home, while high-end, sit-down restaurants can match prices in the US or Europe — you can still eat very well for around US$20 a head. Prices include 19% VAT (called IVA), so the listed price is what you pay.
One worthwhile saving: foreign tourists are exempt from the 19% IVA on hotel accommodation when the stay is paid in US dollars or with a foreign credit card. Hotels apply this when you show your passport and tourist card, so the tax comes off your room bill — always worth confirming at check-in.
Tipping is appreciated and usually given in cash:
Carry a copy of your passport (or another photo ID such as a driver’s licence) as you travel, since some merchants ask for identification when you pay by card. Keep the original passport secured in your hotel safe.
Ready to explore from the Atacama to Patagonia? Browse our Chile tours — we handle the logistics so you can focus on the scenery.
