💰 Peru Uses Two Currencies in Practice
Peru's official currency is the Peruvian Sol (PEN / S/), but USD is widely accepted for hotels, tours, and higher-priced services. Many businesses quote prices in both currencies. Understanding when to pay in soles vs. dollars, and how to get the best rate on each, can save you significant money.
🎧 Order Peruvian Sol Before You Fly
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Order PEN → CEI Currency ExchangeCambistas: Peru's Licensed Street Money Changers
Unlike most countries, Peru has a legal, regulated system of street money changers called "cambistas." These individuals are licensed by SUNAT (Peru's tax authority) and are a legitimate, widely used way to exchange USD cash for soles. They are not black market dealers.
How Cambistas Work
Where to find them: On busy commercial streets, near banks, and in market areas. In Lima, Miraflores and the financial district of San Isidro have many. In Cusco, they cluster around Plaza de Armas and Avenida El Sol
How to identify them: They wear reflective vests (often blue or green) and carry calculators and wads of cash. Licensed cambistas carry a SUNAT registration card
Rates: Usually within 0.5–1% of the mid-market rate, often matching or beating bank rates. They make money on the spread between their buy and sell price
Best bills: Like Argentina, crisp $100 and $50 USD bills get the best rates. Smaller denominations may get 1–2% less
How to use them: Ask "A cuanto compra el dolar?" (what's your buy rate for dollars?). Compare to the current rate on Google or xe.com. If acceptable, hand over your USD, count the soles carefully, and go
⚠ Cambista Safety Tips
Counterfeit soles do circulate in Peru. Learn to check for the metallic security strip and watermark on sol bills. Only use cambistas in well-trafficked, daytime locations. Avoid anyone who approaches you aggressively or tries to rush the transaction. If a rate seems too good to be true, it probably comes with counterfeit bills. Stick to cambistas with visible SUNAT credentials near banks or busy shopping streets.
Cash vs. Card: What to Expect in Peru
Lima's Miraflores, Barranco, and San Isidro districts are card-friendly. Visa and Mastercard are widely accepted at restaurants, shops, supermarkets (Wong, Metro, Plaza Vea), and hotels. Contactless payments work at newer terminals in these areas. Cusco's tourist restaurants and shops on and around Plaza de Armas accept cards, but local eateries, San Pedro Market, and taxis are cash-only. Arequipa and Trujillo have good acceptance at tourist-facing businesses, mixed at local spots.
Rural areas, trekking routes, and small towns are almost entirely cash-based. Stock up in Cusco before heading to the Sacred Valley, Machu Picchu, or any trek. Aguas Calientes (Machu Picchu town) has a few ATMs, but they frequently run out of cash during peak season. The Inca Trail, Salkantay, and Lares routes have zero ATMs. Colca Canyon, Lake Titicaca towns, and Amazon lodges have very limited ATM access. Carry plenty of S/10 and S/20 notes since rural shops cannot break S/100 or S/200 bills.
How to Get Soles for Your Peru Trip
Peru runs a soft dual-currency economy on top of a strong cash habit. Lima's Miraflores and Barranco take cards just fine, Cusco's Plaza de Armas tourist restaurants take cards, but San Pedro Market, Sacred Valley taxis, Inca Trail tip envelopes, Aguas Calientes lunch spots (when their ATMs run dry, which they often do at peak season), and the Salkantay and Lares routes are cash-only. There's also an in-country quirk: Peruvian cambistas (licensed street money-changers in green vests) routinely beat both bank ATMs and casas de cambio on USD-to-soles spreads, so many seasoned travelers carry USD specifically to swap on the street rather than at the airport. Two cheap ways to get soles: pre-order before takeoff, or pull from a BCP, BBVA, or Scotiabank ATM after landing.
Order soles before you fly
For pre-arrival soles, two paths. A currency-exchange service like CEI Currency Exchange ships physical Peruvian soles to a US address with insured 2–5 day delivery, at a small spread over the bank rate. Useful if you're flying directly into Cusco (CUZ) on the LAX-via-Lima route and starting straight on a Sacred Valley itinerary where Aguas Calientes ATMs sometimes run empty during peak season. Your home bank can also order PEN (Bank of America, Chase, Wells Fargo, Citi may stock it depending on the branch); allow 5–10 business days because soles aren't a flagship currency. Peru-specific perk: Scotiabank Peru is a Bank of America Global ATM Alliance partner, so once you land, BoA debit users withdraw at any Scotiabank Peru branch ATM with no operator fee and no BoA non-network surcharge. The most-cost-effective combo for many Peru travelers: arrive with USD $300–500 in clean, post-2009 $100 bills, swap a portion to soles via a green-vested cambista in Miraflores or Cusco's Avenida Sol (rates often beat ATMs after fees), and use Scotiabank ATMs for the rest.
Withdraw from a Peruvian bank ATM
On the ground, the cheapest source of soles is a major Peruvian bank ATM. BCP (Banco de Crédito del Perú), BBVA Continental, Interbank, Scotiabank Peru, and BanBif all give the actual interbank rate with no markup. Most do charge a per-transaction operator fee for foreign cards (typically S/15–20, posted on the screen before you confirm). BCP machines have the largest network and tend to be the most reliable; BBVA Continental ATMs in Lima often have the highest withdrawal caps (up to S/2,000–3,000). A dual-currency feature: most Peruvian bank ATMs let you choose to withdraw in soles or USD at the screen. Take soles for daily spending and only take USD if you specifically need it for a tour deposit or backup. Two procedural rules in Peru: stick to ATMs inside bank branches, hotel lobbies, or shopping malls (Larcomar, Jockey Plaza, Real Plaza Salaverry) rather than street-facing standalones, especially in central Cusco and Aguas Calientes where skim risk is documented. And decline DCC every time the screen offers "charge in USD" at the conversion step. See the Best ATMs section below for the bank-by-bank lineup, or our Lima money guide for neighborhood-level locations. Want to know what a BCP withdrawal will actually cost on your debit card after their fee? Drop it into our ATM fee calculator.
Airport counters & "sin comisión" booths
Three traps to walk past in Peru, and one notable exception. The Travelex and Globo counters in arrivals at LIM (Lima Jorge Chávez) and CUZ (Cusco) advertise rates that look reasonable but routinely run 6–12% off the interbank rate, plus a fixed fee. The casas de cambio along Avenida Larco in Miraflores and around Cusco's Avenida Sol use the "sin comisión" framing while burying the markup in the rate. Honest exception: the licensed green-vested cambistas on Avenida Larco in Miraflores, around Avenida José Pardo, and near Cusco's Plaza de Armas have a long-standing reputation for offering the country's best USD-to-soles rates (often better than ATMs after fees); locals use them daily. Carry USD in clean, post-2009 $100s and check the rate against your phone before handing money over. Third, the standalone Globalnet ATMs you'll see inside hotel lobbies and tourist plazas in Cusco and Aguas Calientes layer aggressive operator fees on top of DCC pitches. Stick to bank-branded ATMs at BCP, BBVA, Interbank, or Scotiabank, decline DCC, and the licensed cambistas are the one acceptable cash-to-cash route. Heading to Lima or Cusco? Our Lima and Cusco money guides walk the cleanest cash strategy.
For a side-by-side comparison of every method (bank wire, travel card, pre-order, ATM, exchange counter) including USD-to-PEN timing tips, see our complete Getting Currency guide →.
Best ATMs to Use in Peru
Peru's ATM network is reliable in cities but sparse in rural and trekking areas. Withdrawal limits for foreign cards are lower than in Europe or the US, typically around S/700–1,500 per transaction (roughly $190–400 USD). Most ATMs let you withdraw in either soles or USD.
Banco de Crédito del Perú (BCP)
Peru's largest bank with the most extensive ATM network: 2,000+ ATMs nationwide. Found everywhere from Lima malls to small towns. BCP ATMs are the most reliable for foreign Visa and Mastercard withdrawals. English-language option available.
Top Pick
BBVA Perú
Peru's second-largest bank. Modern ATMs with multilingual interfaces. Strong presence in Lima, Cusco, Arequipa, and other major cities. The international BBVA network means their systems handle foreign cards smoothly. Also offers USD withdrawals.
Recommended
Interbank
Known for the highest withdrawal limits for foreign cards, sometimes allowing up to S/2,000+ per transaction. Distinctive green branding. Around 1,500+ ATMs with strong urban coverage. Found in many shopping centers and gas stations.
Recommended
Scotiabank Perú
Part of the Global ATM Alliance, so if your home bank is a member (Bank of America, Barclays, BNP Paribas, Deutsche Bank, and others), you may avoid the foreign ATM surcharge. Good presence in Lima, Cusco, and major tourist cities.
RecommendedBanco de la Nación
Peru's state-owned bank. The only bank with ATMs in many rural towns and remote areas. Essential for travelers heading to smaller destinations off the main tourist circuit. Lower withdrawal limits, but sometimes it is the only option available.
Recommended⚠ Watch Out for Dynamic Currency Conversion (DCC)
Some ATMs in Peru will offer to convert your withdrawal to your home currency (USD, EUR, GBP). Always decline and choose Peruvian Soles (PEN). DCC adds a 3–8% markup. Look for prompts saying "conversion," "guaranteed rate," or offering your home currency. Select "sin conversion" or "moneda local" to avoid the fee.
ATMs to Avoid in Peru
Not all ATMs are created equal. Independent and tourist-targeting machines charge extra fees and push unfavorable conversions.
GlobalNet ATMs
Peru's largest independent ATM operator. Found in convenience stores, gas stations, and tourist areas. Charges higher fees than bank ATMs (often S/15–25 extra per withdrawal) and aggressively pushes DCC. Travelers consistently report worse exchange rates.
Avoid
Euronet
Expanding in Lima and Cusco tourist zones. Same aggressive DCC tactics used worldwide. Fees run 5–10% higher than bank ATMs when you factor in the inflated conversion rate. Recognizable by blue and yellow branding.
AvoidStandalone ATMs in Tourist Areas
Unbranded or unfamiliar ATMs near Cusco's Plaza de Armas, Machu Picchu bus stops, and Lima's tourist districts. Higher fees, lower limits, and greater skimming risk. Always use ATMs inside or attached to a recognized bank branch.
AvoidAirport Exchange Counters
Exchange counters at Lima's Jorge Chávez Airport (LIM) offer rates 5–10% worse than city cambistas. ATMs in the arrivals hall are fine (use BCP or BBVA), but avoid the exchange counter windows. If you need soles immediately, withdraw a small amount from a bank ATM and exchange the rest in the city.
AvoidPaying by Card in Peru
Card Networks
Visa and Mastercard are accepted at hotels, tourist restaurants, supermarkets, and larger shops in Lima, Cusco, Arequipa, and other major cities. Coverage drops significantly in smaller towns. American Express is accepted at some international hotels and upscale restaurants but is not widely supported. Discover has very limited acceptance and is not recommended for Peru.
Contactless & Mobile Payments
Tap-to-pay is expanding in Lima's Miraflores and San Isidro at newer restaurant and supermarket terminals. It is less common in Cusco and rare elsewhere. Apple Pay and Google Pay work at some modern terminals in Lima but are not widely supported outside the capital. Bring a physical card with a working chip as your primary payment method.
Where Cards May Not Work
San Pedro Market in Cusco, Mercado Surquillo in Lima, and all local markets are cash-only. Taxis throughout Peru are cash-only (most don't use meters; agree on the fare before getting in). Local buses and combis require cash. Trekking routes, village stays, and rural transport are entirely cash-based. In Cusco, always carry cash if venturing beyond the main tourist restaurants around Plaza de Armas.
Tipping in Peru
Tipping Guide
Restaurants: 10% is customary at sit-down restaurants. Some add a 10% "servicio" charge to the bill already, so check before tipping extra. At cevicherías and casual restaurants, rounding up is fine. Trek porters and guides are the most important tipping situation in Peru. For the Inca Trail, budget S/50–100 ($14–28) per porter for the full trek, and S/100–200 ($28–55) for the lead guide. Pool tips with your group and distribute at the end. Taxis: no tip expected. Hotels: S/3–5 per bag for bellhops, S/5–10 per night for housekeeping at upscale hotels. Free walking tours in Lima and Cusco: S/20–30 per person is standard.
Lima, Cusco & Beyond: Practical Money Tips
Things to Know
For city-specific tips, see our Lima, Cusco, and Arequipa money guides. Each covers neighborhood-level card acceptance, ATM locations, transport payments, and local spending tips.
Dual currency pricing is common in Peru. Hotels and tours almost always quote prices in USD. Restaurants and shops price in soles. If a hotel charges $80 USD or S/300, calculate which is cheaper at the current rate. Sometimes paying in soles with a no-FX-fee card saves 2–3%. Always negotiate in soles at markets and with taxi drivers for better prices.
Jorge Chávez Airport (LIM) in Lima has BCP and BBVA ATMs in the arrivals hall. Skip the exchange counter windows (5–10% worse rates). Withdraw a small amount from a bank ATM and exchange the rest at cambistas in Miraflores.
Stock up in Cusco before trekking. Aguas Calientes ATMs run out of cash during peak season. The Inca Trail, Salkantay, and Lares routes have zero ATMs. Budget cash for 4–5 days plus tips for porters and guides. Colca Canyon, Lake Titicaca, and Amazon lodges have very limited ATM access too.
Peru is affordable for USD/EUR travelers. A good meal in Cusco runs S/15–40 ($4–11). Budget accommodation starts around S/50–80 ($14–22) per night. The sol is relatively stable against the USD, making budgeting straightforward.
ATM withdrawal limits are typically S/700–1,500 per transaction. Interbank often allows more. Peruvian banks charge S/10–22 per foreign withdrawal. Always withdraw in soles unless you specifically need USD cash for cambista exchange or hotel payment.
Money Safety in Peru
Staying Safe
Use ATMs inside bank branches or shopping malls. Avoid street-facing ATMs at night, especially in Lima's Centro Histórico and near Cusco's Plaza de Armas after dark.
Counterfeit soles circulate in Peru. Learn to check for the metallic security strip and watermark on sol bills. Only use cambistas with visible SUNAT credentials in well-trafficked, daytime locations near banks or busy shopping streets like Avenida Larco in Miraflores or Avenida El Sol in Cusco.
Bring two cards on different networks. Peru is a common travel destination so fraud holds are less frequent than in obscure countries, but ATMs do occasionally reject cards. If your Visa gets blocked at a BCP machine, a Mastercard backup at Interbank keeps you going. Wise and Charles Schwab debit cards are popular no-FX-fee options that work well in Peru.
Frequently Asked Questions
What are cambistas and are they safe to use?
Cambistas are licensed street money changers regulated by SUNAT (Peru's tax authority). They wear reflective vests, carry calculators, and offer rates within 0.5–1% of mid-market. They are a legitimate, widely used way to exchange USD for soles. Use them in well-trafficked daytime locations near banks in Miraflores (Lima) or Avenida El Sol (Cusco). Check your soles for counterfeits before walking away.
Should I pay in soles or USD in Peru?
Hotels and tours usually quote in USD. Restaurants, shops, and everyday purchases are in soles. Always compare: if a hotel charges $80 or S/300, calculate which is cheaper at the current rate. At ATMs and card terminals, always choose soles (PEN), not USD, to avoid DCC markups. Negotiate in soles at markets and with taxi drivers for better prices.
Are there ATMs at Machu Picchu?
Aguas Calientes (the town at the base of Machu Picchu) has a few ATMs, but they frequently run out of cash or go offline during peak season. Do not rely on them. Withdraw enough soles in Cusco before taking the train. The Inca Trail, Salkantay, and Lares trekking routes have zero ATMs along the way.
How much should I tip Inca Trail porters?
Tipping trek porters is expected and important. Budget S/50–100 ($14–28) per porter for the full 4-day Inca Trail trek, and S/100–200 ($28–55) for the lead guide. Pool tips with your group and distribute at the end. At restaurants, 10% is customary (check if a servicio charge is already included).
Which ATMs should I avoid in Peru?
Avoid GlobalNet ATMs (Peru's largest independent operator, found in convenience stores and gas stations). They charge higher fees (S/15–25 extra) and aggressively push DCC. Euronet ATMs in Lima and Cusco tourist zones are similarly expensive. Standalone unbranded ATMs near Plaza de Armas in Cusco carry higher skimming risk. Stick to BCP, BBVA, Interbank, or Scotiabank ATMs inside bank branches.
Is Peru expensive?
Peru is affordable for USD/EUR travelers. A good meal in Cusco runs S/15–40 ($4–11). Budget accommodation starts around S/50–80 ($14–22) per night. The sol is relatively stable against the USD with no parallel market, so prices are predictable. Lima's Miraflores district is more expensive than Cusco or other cities.
Skip the Foreign Transaction Fees
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Get the Wise Card →Quick Comparison
| Method | Cost | Convenience | Best For |
|---|---|---|---|
| No-FX-fee card at bank ATM | Good (small local fee only) | ★★★★☆ | Primary method in cities |
| Cambista (USD cash) | Best rate (near mid-market) | ★★★☆☆ | Supplementing ATMs |
| No-FX-fee credit card | Best (zero fees) | ★★★★★ | Hotels, restaurants, shops |
| Airport exchange counters | Poor (5–10% worse) | ★★☆☆☆ | Absolute emergency only |
Peru Quick Facts
| Currency | Peruvian Sol (PEN / S/) |
| Exchange Rate | Relatively stable. One official rate (no parallel market like Argentina) |
| USD Acceptance | Hotels and tours quote in USD. Everyday purchases require soles |
| ATM Limits | S/700–1,500 per transaction (roughly $190–400 USD) |
| Card Acceptance | Good in Lima and Cusco tourist areas. Cash-dependent elsewhere |
| Best Strategy | No-FX-fee card at bank ATMs plus some USD cash for cambistas |
| Trekking Tip | Stock up on cash in Cusco. No ATMs on trails, unreliable in Aguas Calientes |
| Tipping | 10% at restaurants. Budget S/50–100+ per porter for multi-day treks |
Peru City Guides
Neighborhood-level money guides for Peru's biggest cities. Where to find ATMs, which areas need cash, how to pay for transport, and more.