We spent 7 weeks in Santiago, and here is everything we learned about using money in a Spanish speaking country and money in Chile. While the specific currency might change from country to country in Latin America, familiarizing yourself with Spanish language numbers will be a big help wherever you go in Latin America.
Arriving with Money in Chile
Before we left the USA, I ordered Chilean pesos, CLP, from my bank. That way, when we landed at the Santiago airport we’d already have local cash in our pockets. You don’t have to have cash when you exit the airplane, but I always feel better when I have money on hand.
I was unable to request specific denominations from my bank, but I did have the option of ordering ‘large bills’ or ‘small bills’. I chose small bills, which turned out to be an assortment of 1000, 2000, and 5000 Chilean pesos. These denominations were ideal, since larger purchases were better suited for my credit card.
How Much Cash Money in Chile Is Too Much?
I ordered $300 USD in pesos from my bank, which was WAY more cash than was necessary. If I did it over again, I’d take less. I would have been fine converting only $100 USD into Chilean pesos. Once we arrived in Santiago, we found plenty of ATM machines that worked with our bank cards, and money in Chile was easy to access, however, using ATM machines can be expensive, so it’s important to be aware of the fees associated with the ATM machines you use.
In the early planning stages, well before you start on your travels, it’s worth reviewing the terms of your bank cards, especially the potential fees you might encounter while using the cards outside of your home country, these costs may be different than your current in-country costs. You might have to pay hefty fees for the use of a foreign bank machine as well as fees charged by your own bank for the transaction.
We accessed cash from ATMs twice during our stay in Santiago. The first time, at a Scotiabank, the machine gave us 10.000 peso notes, which worked fine for us. The second time, at Banco de Chile, the machine gave us 20.000 peso notes, which was larger than I would have liked. I never spent more than 40.000 Chilean pesos on a cash purchase during our time in Chile, and I only did this in order to use up some of the larger bills we had been given at the ATM machine. For purchases over 10.000 pesos, I almost always used a credit card.
What Bank Cards Will I Need?
After our own research, we determined that a Schwab Bank account was best for our travels. Our Schwab account allows the withdrawal of funds in foreign countries, and also reimburses the account for any foreign bank fees accrued. Bank fees can sometimes be exorbitant, and even small fees will add up over time, so it’s worth the effort to open accounts that will allow you to get more bang for your buck as you travel. And be sure to have at least one back-up bank card, an alternative bank card to use in the event that your primary card is lost or not working.
We also acquired credit cards that did not charge foreign transaction fees. The card I favored during my trip was a Capital One credit card without foreign transaction fees. After making a purchase, I was able to easily check online and see the card balance already converted into US dollars, without additional fees added. In the event of an issue with this card, I also had a back-up credit card that did not charge foreign transaction fees. If you are a budget traveler, then considering these details can make a measurable impact on your travel wallet.
Bank cards are not always an option to use, or even the ideal way to make a purchase, especially at smaller mom and pop operations. For purchases less than $10, or for buying at small vendors or street markets, I like to use cash. 1000, 2000, and 5000 peso notes was my preferred money in Chile. Exchange rates for Chilean pesos, CLP, and your home currency will change over time, but at the time of our travels, I found the buying power of 1000 Chilean pesos to be comparable to a US dollar.
Many things you will not need cash for, especially larger ticket items like the major costs of travel and lodging which you will likely charge in advance. Since we were house sitting, our lodging costs were minimal. You can find a variety of affordable lodging options online, especially if you are booking accommodations for an extended period of time. We often use AirBnB, Booking.com, or Tripadvisor when researching the cost of lodging options.
Do I Really Need Cash?
Our first cash purchase in Chile was the bus ride from the airport into Santiago, which was less than 5000 pesos for both tickets. It was nice to go directly from the plane to our ground transportation without having to think about getting local money. Once we left the bus downtown, we went directly to the Santiago Metro and purchased subway fare cards, which also required cash. Having money in Chile for incidental travel, snacks, water, etc. was convenient, and we found it easy to use Chilean pesos, even with our limited Spanish skills.
I say limited, but we did study basic Spanish beginning 2 months before our trip. During this 2 month time, honestly, we learned very little Spanish, or it felt like we learned very little, but even a little studying will go a long way once you hit the ground, especially if you make an effort to understand Spanish numbers.
Learn Some Spanish Numbers – Make Cash Purchases Much Easier
They can look long and be a mouthful to pronounce, but with a little practice, you’ll have Spanish numbers mastered in no time.
Learning and memorizing 0-10 first helped me the most, because these numbers will come in handy for most larger numbers as well.
0 = cero
1 = uno
2 = dos
3 = tres
4 = cuatro
5 = cinco
6 = seis
7 = siete
8 = ocho
9 = nueve
10 = diez
The Spanish 11, 12, 13, 14, and 15 don’t really follow a pattern.
11 = once
12 = doce
13 = trece
14 = catorce
15 = quince
To say 16 -19, you’ll say 10, then the Spanish word for “and” – “y”, then the remaining number.
16 = diez y seis
17 = diez y siete
18 = diez y ocho
19 = diez y nueve
For 21-29, you’ll say the Spanish word for “20” – “veinte”, then the remaining number.
20 = veinte
21 = veinte uno
22 = veinte dos
23 = veinte tres
For most numbers between 30 – 999, you’ll use “y” between the the first and last part of the number. Examples:
30 = treinta
31 = treinta y uno
32 = treinta y dos
33 = treinta y tres, etc.
80 = ochenta
81 = ochenta y uno
85 = ochenta y cinco
88 = ochenta y ocho
Spanish words for multiples of 10:
10 = diez
20 = veinte
30 = treinta
40 = cuarenta
50 = cincuenta
60 = sesenta
70 = setenta
80 = ochenta
90 = noventa
100 = cien (only 100 = cien, all other numbers 101 to 199 are ciento)
How to say the Spanish 100s:
- 100 = cien
- 200 = doscientos
- 300 = trescientos
- 400 = cuatrocientos
- 500 = quinientos
- 600 = seiscientos
- 700 = setecientos
- 800 = ochocientos
- 900 = novecientos
- 1000 = mil
Here are some examples of putting together the numbers I’ve referenced:
- 101 = ciento uno
- 122 = ciento veinte dos
- 148 = ciento cuarenta y ocho
- 150 = ciento cincuenta
- 255 = doscientos cincuenta y cinco
- 543 = quinientos cuarenta y tres
- 999 = novecientos noventa y nueve
- 1.766 = mil setecientos sesenta y seis
- 12.016 = doce mil diez y seis
- 20.922 = veinte mil novecientos veinte y dos
- 306.448 = trescientos y seis mil cuatrocientos cuarenta y ocho
- 950.550 = novecientos cincuenta mil quinientos cincuenta
CG and I are traveling long term, but packing light. We’ve been traveling now for more than a year carrying a single Osprey Porter 30 Travel Backpack each. You can find more info about our travel packs and the current prices for these travel packs here.
Santiago is a wonderful, diverse city to explore, and in almost all of our encounters we found locals to be super helpful and accommodating of our limited Spanish. If you’re visiting Chile in the future, then I hope this currency information makes your trip a lot easier.
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