ATMs in Peru: A Terraveler’s Guide to Withdrawing Money

Embarking on a journey through Peru, whether exploring the vibrant streets of Lima or trekking the ancient trails of Machu Picchu, requires a bit of financial foresight. While cash is still king in many parts of the country, accessing funds conveniently and securely can be a concern for terravelers. In this guide, we delve into the ins and outs of using ATMs in Peru, covering everything from locations and fees to safety tips for worry-free transactions.

ATM Locations: Where to Find Them

Peru boasts a network of ATMs that extends from bustling city centers to remote countryside regions, catering to the needs of both urban adventurers and intrepid explorers. In major cities like Lima, Cusco, and Arequipa, ATMs in Peru are ubiquitous, with banks such as Banco de Crédito del Perú (BCP), BBVA Continental, and Scotiabank dominating the landscape. You’ll find these machines conveniently located in shopping malls, airports, and along main thoroughfares, ensuring easy access to cash when needed.

Even in more rural areas and popular tourist destinations like Aguas Calientes (the gateway to Machu Picchu) and Puno (near Lake Titicaca), ATMs are readily available, albeit in fewer numbers. While you may encounter fewer options in these locales, rest assured that major banks still maintain a presence, offering a lifeline for travelers in need of funds.

Understanding Fees: What to Expect

Before making withdrawals in Peru, it’s essential to familiarize yourself with the fee structure to avoid any unpleasant surprises. While fees can vary depending on your home bank and the specific ATM used, here’s a general overview of what to expect:

ATM Operator Fees:

Most Peruvian banks charge a nominal fee for using their ATMs, typically ranging from 5 to 20 soles per transaction. While this may seem like a small amount, these fees can add up over time, especially if you make frequent withdrawals.

Foreign Transaction Fees:

If you’re using a card issued by a foreign bank, be prepared for additional charges. Many banks levy a foreign transaction fee, which is usually a percentage of the total amount withdrawn. Check with your bank beforehand to understand the extent of these fees and whether they offer any rebates or partnerships with international networks.

Exchange Rates:

When withdrawing cash from an ATM in Peru, you’ll often be given the option to complete the transaction in either local currency (soles) or your home currency. Opting for local currency is typically the better choice, as it allows you to take advantage of more favorable exchange rates offered by the ATM operator.

Bank Names and Fees

Peru is home to several prominent banks, each with its own network of ATMs scattered throughout the country. Here are some of the major players to look out for:

Banco de Crédito del Perú (BCP)

• Fee: No ATM fee for foreign cards.
• Maximum Withdrawal: 700 soles.

BBVA Continental

• Fee: Typically around 20 soles per transaction.
• Maximum Withdrawal: 700 soles.

Interbank

• Fee: Approximately 14 soles per transaction.
• Maximum Withdrawal: 700 soles.

Scotiabank

• Fee: Generally no fee for international account withdrawals, especially for customers of Global ATM Alliance banks (such as Bank of America and Westpac).
• Maximum Withdrawal: 400 soles per transaction. However, you may need to make multiple transactions to withdraw larger amounts.

GlobalNet ATMs

• Fee: Higher end of the spectrum, around 20-25 soles per transaction.
• Maximum Withdrawal: 400-700 soles, depending on the specific ATM.

Banco de la Nación (MultiRed)

• Fee: No fee for withdrawals, making it a good option for fee-free transactions.
• Maximum Withdrawal: 700 soles

Urban vs. Countryside: What to Expect

Navigating the ATM landscape in Peru can vary depending on whether you’re in an urban or countryside setting. In major cities like Lima and Cusco, ATMs are plentiful and easily accessible, often located within close proximity to popular tourist attractions and accommodations.

In rural areas and smaller towns, however, you may encounter fewer ATMs and limited banking facilities. Plan ahead by withdrawing cash in larger cities before venturing into more remote regions to ensure you have an ample supply of funds for your travels.

Security Considerations: Staying Safe While Withdrawing Cash

While ATMs in Peru are generally safe to use, terravelers should exercise caution to minimize the risk of theft or fraud. Here are some essential safety tips to keep in mind:

Choose ATMs in Peru Wisely:

Opt for ATMs located in well-lit, populated areas, and avoid using machines that appear tampered with or suspicious.

Shield Your PIN:

When entering your PIN at the ATM, cover the keypad with your hand to prevent prying eyes or hidden cameras from capturing your information.

Be Vigilant:

Keep an eye out for any suspicious individuals or activity around the ATM, and trust your instincts if something feels off. If you’re unsure about the safety of a particular machine, it’s best to find an alternative.

Monitor Your Accounts:

Regularly check your bank statements and transaction history for any unauthorized or unusual activity. Report any discrepancies to your bank immediately to mitigate potential losses.