Planning to go to Chile? Before catching your flight, get fully informed about the Chilean currency, the peso, which you’ll use for all your purchases. Whether it’s about the form that money in Chile takes, withdrawing or exchanging it there, or learning how payments work, it’s important to properly educate yourself ahead of time.
In this guide, you’ll learn everything you need to know about currency in Chile so that you can head off with peace of mind.
What Is the Official Currency in Chile?
The official currency in Chile is the Chilean peso, which is issued by the country’s central bank — the Banco Central de Chile:
- Its local name is peso chileno,
- Its symbol is $,
- Its abbreviation is CLP,
- 1 euro is worth around 1033 pesos,
- The Chilean peso has not been divided into sub-units (cents) since 1984.
The symbol of the Chilean peso is identical to that of the currency in Mexico: $. As this symbol is also the same as the US dollar symbol, prices in Chilean pesos will sometimes be displayed as $ or $CLP, and prices in dollars as US$ or USD.
What Are the Coins and Banknotes in Chilean Currency?
The currency in Chile consists of various coins and banknotes, ranging from 10 pesos to 20,000 pesos:
- Chilean Coins: 10, 50, 100 and 500 pesos,
- Chilean Banknotes: 1000, 2000, 5000, 10,000 and 20,000 Chilean pesos.
Coins are still widely used in Chilean currency. In everyday speech, you’ll often hear Chileans use the term “una luca” for a sum of 1000 pesos, “una quina” for 500 pesos and “una gamba” for 100,000 pesos.
1- and 5-peso coins were commonplace until November 1, 2017. However, 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.
Send Money to Chile with Western Union
With Western Union, you can send money to Chile in just a few clicks at a great rate.
How to Pay in Chile
There are two main payment methods in Chile — cash and bank card. While cash is the most practical way to pay for purchases in Chilean currency, card payment is widely used in major cities and is recommended for tourists.
Let’s go over the details of these different payment methods:
- Cash: As with Argentine currency, cash remains the most common payment method for transactions, especially outside of major cities. Coins are still very common in Chilean currency — they can be used to pay for all small purchases and services (buses, taxis, gas, groceries, etc.). To make cash payments easier, try to use small denominations, as large bills may be refused (in rural and remote places, for example).
- Bank Card (credit or debit): bank cards are widely accepted in the country, especially in stores and establishments in major cities. Depending on the business, you may need to put your passport number on the receipt as a security measure. In addition, each transaction will incur a fee of up to 6% of the amount.
Even if you plan to pay for your purchases by card, you should always carry Chilean money with you in the form of cash when traveling to more remote places and in case there are connection problems with payment terminals.
Can You Pay in Euro in Chile?
Yes, sometimes you can pay in euro in Chile at certain international establishments (hotels, car rental companies, airlines), but this is quite rare.
However, it’s easier—and even encouraged—to pay in US dollars (card or cash). In fact, at many hotels, paying in dollars means you can avoid paying 19% VAT. In this case, you’ll pay a price in USD that doesn’t necessarily correspond to the current exchange rate. Furthermore, this only applies at hotels authorized by the Chilean tax department to issue bills without VAT.
Please note that your dollars must be in perfect condition if you want to pay in cash. The slightest tear may lead to them being refused.
To sum up, always take euro with you so you can exchange them when you’re there, but be sure to change some into dollars so you can easily pay for certain purchases if needed. Nevertheless, bear in mind that paying in Chilean pesos is still most common and should be your go-to.
Where Can You Change Money in Chile?
You can change your money in Chile:
- At foreign exchange offices, which are very common in major cities (especially Santiago),
- At Western Union agent locations,
- At foreign exchange counters at train stations or airports,
- At banks.
Foreign exchange offices, or casas de cambio, 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. Rates can vary significantly depending on the region you’re in. So, consider doing some research before you travel.
If you want to change your money in Chile, go to major banks like Scotiabank or Santander, where you can often exchange euro and dollars at the counter. No matter where you want to change your currency in Chile, never exchange it on the street, as it’s illegal and always risky. Go to official establishments.
To get the best exchange rate wherever you are in the country, change your Chilean money with Western Union. Our agent locations, which are often located in post offices, are open all week and offer safe, convenient and fast exchanges.
Where Can You Withdraw Money in Chile?
You can withdraw money at any ATM in the country. This is the quickest way to get currency in Chile. The main network of ATMs is Redbanc and they can be easily found in major cities and tourist areas. Withdrawals are generally limited to 200,000 Chilean pesos, which is equivalent to around 200 euro.
To withdraw money in Chile, check that the ATM has the Visa, Mastercard and American Express logo displayed. Take care, as some bank ATMs refuse foreign cards and could be empty, broken or under maintenance (for example in San Pedro de Atacama). In addition, as the bank card is usually returned after the Chilean currency is issued, remember to take it after every withdrawal.
All bank withdrawals will incur fees — not just from your French bank, but from the local bank too. The Chilean fee is generally 8500 pesos (around 8 euro), except at Scotiabank, which does not charge one.
Finally, before you head off to Chile, remember to let your French bank know about your travel dates and that you’ll be using your card in Chile, to avoid the risk of them blocking it as a security measure.
FAQs
- What Is the Chilean Peso Exchange Rate?
The Chilean peso exchange rate is approximately:
- 1 euro = 1033 pesos
- 1 peso = 001 euro
- How Can I Send Money to Chile?
With Western Union, easily send money to Chile from France:
- Online in a few clicks via our website,
- With our mobile app,
- In person, by going to an agent location.
Your receiver can get the money in cash, in their account (via their Chilean IBAN) or in their mobile wallet.
