Just landed - wondering what gives the better rate in Chile: ATM withdrawal or airport exchange counter?
The best way in Chile is to plan a hybrid approach. Exchange a little at the airport for taxis or snacks, then head into Santiago and use ATMs for bulk withdrawals. Budget CLP 25,000-35,000 per day for comfortable travel. Use major bank ATMs inside secure locations and avoid freestanding ones to reduce the chance of extra fees. Always choose to be charged in pesos, not your home currency. Airport counters are convenient, but they cost too much in the long run.
Chile’s airport counters were disappointing. I swapped $200 and later checked against my bank statement - I lost at least 10% compared to the ATM rate. That’s basically two days of metro rides, empanadas, and market shopping wasted. For a country where I was budgeting CLP 30,000-40,000 per day, it was a frustrating start. Don’t rely on airport counters unless you absolutely must. ATMs, even with the withdrawal fee, beat them every time.
I exchanged $50 at Santiago Airport for a ride into town and later regretted it. The rate was awful compared to the ATM withdrawal I made at BancoEstado in the city center. I was spending about CLP 25,000 daily on meals, buses, and wine tastings. ATMs gave me much more value, even with fees. My tip: get just enough pesos at the airport for transport, then withdraw larger sums in the city to stretch your money.
In Chile, ATMs generally give better rates than airport exchange counters, but they add a flat withdrawal fee (around 4,000 CLP). Even with that fee, the net rate is usually stronger than what you’d get at Santiago Airport kiosks. If you’re budgeting CLP 20,000-30,000 per day for meals, metro rides, and sightseeing, an ATM withdrawal from BancoEstado, Santander, or BCI is more cost-effective. The airport counters are only useful if you need immediate pesos for a taxi.