Commercial Bank

When traveling in Peru, it is advisable to use a combination of cards and cash. Banks, ATMs, and businesses that accept international cards are available in major cities and tourist areas. However, cash may still be necessary at markets, small businesses, rural communities, and for certain transportation services.

Service availability, fees, withdrawal limits, and the currencies dispensed by ATMs may vary. Therefore, this information should be used as general guidance and verified before each transaction.

Main banks in Peru

The official currency is the sol, whose symbol is S/. Each sol is divided into 100 céntimos.

Coins are available in the following denominations:

• 10, 20, and 50 céntimos;
• S/ 1, S/ 2, and S/ 5.

Banknotes are available in the following denominations:

• S/ 10;
• S/ 20;
• S/ 50;
• S/ 100;
• S/ 200.

On December 15, 2015, the currency officially ceased to be called the “nuevo sol” and was renamed the “sol.” On the same date, the former symbol S/. was replaced by S/.

Using credit and debit cards

International cards are mainly accepted at hotels, supermarkets, formal restaurants, travel agencies, shopping centers, pharmacies, and tourist establishments.

ATMs and businesses may work with networks such as Visa, Mastercard, and American Express, but acceptance depends on the establishment, the payment terminal operator, and the type of card. Travelers should not assume that every card will be accepted everywhere. PROMPERÚ reports that ATMs connected to different international networks are available in major cities and may dispense Peruvian soles or US dollars.

Before traveling, it is advisable to:

• confirm that the card is enabled for international purchases and withdrawals;
• check the fees for transactions made abroad;
• know the personal identification number, or PIN;
• check the daily purchase and withdrawal limits;
• enable notifications for each transaction;
• save the issuing bank’s contact numbers;
• carry a second card as a backup.

Some financial institutions no longer require customers to report every trip, while others may apply additional security controls. Travelers should therefore review their own bank’s instructions before leaving their country.

ATMs and cash withdrawals

ATMs are mainly found at:

• bank branches;
• airports;
• shopping centers;
• supermarkets;
• gas stations;
• stores and other establishments in major cities.

Small towns and rural areas may have fewer ATMs, connectivity problems, or limited cash availability. Before traveling to a remote destination, it is advisable to withdraw a reasonable amount of money in a nearby city.

Some ATMs allow withdrawals in Peruvian soles and US dollars. However, not every machine offers both currencies, and availability may depend on the cash currently stocked in the ATM.

Payments in Peruvian soles and US dollars

The sol is the currency generally used throughout the country and is the most practical option for:

• markets and fairs;
• local restaurants;
• taxis and urban transportation;
• handicrafts;
• tips;
• small shops;
• rural communities;
• small payments.

It is advisable to carry coins and S/ 10 or S/ 20 banknotes. Some vendors or drivers may not have change for S/ 100 or S/ 200 banknotes.

Before leaving an ATM, bank, or establishment, count the money and check the condition of the banknotes.

Before paying in US dollars, confirm:

• that the establishment accepts the currency;
• which exchange rate will be used;
• which currency will be used to provide change;
• that the banknote is in good condition.

Some establishments may reject US dollar banknotes that are damaged, marked, torn, or from certain series. For everyday purchases, paying in Peruvian soles is usually easier.

Euros and other foreign currencies are not normally used for direct payments. They generally need to be exchanged for Peruvian soles or, when applicable, US dollars at an institution that handles those currencies.

Safety recommendations when using ATMs

Peru’s Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS) recommends taking the following precautions:

• use ATMs located inside banks, shopping centers, or well-lit places;
• check that the card reader, keypad, and cash dispenser do not have any unusual objects attached to them;
• cover the keypad when entering the PIN;
• do not accept help from strangers;
• keep a safe distance from other people;
• do not hand over the card or reveal the PIN;
• wait until the transaction has been fully completed;
• take the card, cash, and receipt before leaving.

If assistance is needed, ask an identified employee of the financial institution.

Recommendations when paying at establishments

When making a purchase:

• Do not let the card out of your sight.
• Ask for the payment terminal to be brought to your table.
• Check the amount before entering the PIN.
• Confirm whether the transaction is being processed in Peruvian soles or US dollars.
• Do not allow anyone else to enter your PIN.
• Keep the receipt.
• Check the notification or banking app after making the payment.

The SBS recommends that customers never allow their card to be taken to another area and that they always cover the keypad when entering their PIN.