ATMs in Chile: A Terraveler’s Guide on how to withdraw money easily

As a terraveler embarking on an adventure in Chile, one of the practicalities you’ll encounter is the need for cash. Whether you’re exploring the bustling streets of Santiago or immersing yourself in the serene countryside of Patagonia, having access to ATMs in Chile is crucial. In this comprehensive guide, we’ll delve into the use of ATMs in Chile, covering everything from locations and fees to bank options and security aspects.

ATM Locations

Chile boasts a well-developed banking infrastructure, meaning you’ll find ATMs scattered across both urban and rural areas. In major cities like Santiago, Valparaíso, and Concepción, ATMs are abundant and can be found in shopping centers, banks, and high-traffic areas. Even in smaller towns and rural regions, you’re likely to encounter ATMs, although their availability may be more limited.

Fees

When using ATMs in Chile, it’s essential to be aware of potential fees to avoid any surprises. Here’s a breakdown of the typical charges you might encounter:

Withdrawal Fees:

Most ATMs in Chile charge a withdrawal fee for transactions conducted by foreign cardholders. These fees can vary depending on the ATM provider and your home bank.

Here are some specific bank fees:

When traveling to Chile and using foreign debit or credit cards at ATMs, you should be aware of the various fees associated with different banks. Here is a comprehensive list of ATM fees charged by different banks in Chile for foreign card withdrawals:

• Scotiabank stands out as the only bank that does not charge any fees for ATM withdrawals with foreign cards, making it the most cost-effective option for travelers​
• Banco Internacional: 5,000 CLP per transaction.
• Banco Condell: 5,000 CLP per transaction.
• Banco Security: 5,000 CLP per transaction.
• BBVA: 5,000 CLP per transaction.
• Banco Consorcio: 5,000 CLP per transaction.
• Citi: 5,000 CLP per transaction.
• Banco Estado: 5,500 CLP per transaction, with a higher withdrawal limit of 300,000 CLP.
• Banco de Chile: 8,500 CLP per transaction.
• Santander: 8,500 CLP per transaction.

Currency Conversion Fees:

Some ATMs may offer to convert your transaction into your home currency. While this may seem convenient, it often comes with unfavorable exchange rates and additional fees. Opting to withdraw in Chilean pesos (CLP) and allowing your home bank to handle the currency conversion can often result in better rates.

Foreign Transaction Fees:

Your home bank may impose a foreign transaction fee for using your card abroad. Check with your bank to understand these charges beforehand.

Bank Options

Several banks operate ATMs throughout Chile, each with its network and coverage. Here are some of the prominent banks you’re likely to encounter:

Banco de Chile:

One of the largest banks in Chile, Banco de Chile has an extensive ATM network across the country, particularly in urban areas.

BancoEstado:

As a state-owned bank, BancoEstado’s ATMs are widespread and can be found in both urban centers and rural communities.

Santander Chile:

With a significant presence in Chile, Santander’s ATMs are commonly found in major cities and tourist destinations.

Scotiabank:

While not as ubiquitous as some other banks, Scotiabank’s ATMs are still present in many areas frequented by tourists.

Urban Areas vs. Countryside

In urban areas like Santiago, accessing ATMs is relatively straightforward, with multiple options available within walking distance. However, in more remote or rural areas, ATMs may be less abundant. It’s advisable to withdraw enough cash when visiting rural destinations to avoid being caught without access to banking facilities.

Security Aspects

While using ATMs in Chile, safety should always be a priority. Here are some tips to ensure a secure transaction:

Choose ATMs Wisely:

Opt for ATMs located in well-lit, populated areas, preferably within banks or reputable establishments.

Shield Your PIN:

When entering your PIN, cover the keypad with your hand to prevent anyone from seeing your code.

Be Vigilant:

Stay alert and aware of your surroundings while conducting transactions. If something seems suspicious, trust your instincts and find another ATM.

Secure Your Cash:

Once you’ve completed your transaction, promptly secure your cash, cards, and receipt before leaving the ATM.

Notify Your Bank:

Before traveling to Chile, inform your bank of your itinerary to prevent any potential issues with card usage or security alerts.