When planning a trip to Venezuela, considering which forms of payment and credit cards are accepted there is one of the things you should do before you travel. This way you can easily avoid high bank fees.
Pay with credit card and withdraw cash in Venezuela
When traveling in Venezuela, it is advisable not to carry too much cash with you, as crime in the South American country is relatively high and you cannot get a replacement if you lose the cash. It is therefore extremely important to take an acceptable credit card with you. However, if you would like to use the credit card as a cashless payment method, you will be standing in front of closed doors in many places, as these are not accepted everywhere. Sufficient cash is essential, especially in rural areas.
The currency in Venezuela is the Bolivar Fuerte. If you would like to take cash with you from home, we recommend using the US dollar in smaller denominations. It is also important that the banknotes are in good condition. So that you do not have to travel with too much cash, money can be withdrawn at the machine in the larger cities and tourist centers.
When choosing a credit card, the Visa card and the Mastercard are recommended as the best form of payment, since all others are not accepted by many payment locations and ATMs. The easiest way to pay in Venezuela is in shops, hotels and restaurants. Money in can only be fixed at the machine with a credit card. ATMs are also called cajeros , but not all accept international credit cards. Only the BaCream bank and the Agree bank offer tourists the option to withdraw cash with a Visa or Mastercard.
However, the procedure for this is quite unusual. Once you have found a suitable ATM that accepts international credit cards, you must first insert or swipe the card. After asking for a PIN, the machine then requests the last two digits of a Venezuelan passport. Sometimes you can enter the zero twice, sometimes not.
Extreme caution is also required when withdrawing money from ATMs in Venezuela. For security reasons, you should only withdraw money in very busy environments. Never give up your credit card when paying!
Avoid high bank fees for card payments or cash withdrawals in advancelia
The official and unofficial exchange rates in Venezuela are very different, which can result in cash withdrawals or cashless payments by credit card. If you withdraw money from a cash machine in Venezuela with a Maestro card, the bank in Venezuela determines the costs. You can only find out the actual fee for this at home if you hold the account statement in your hands. Usually the costs are usually as high as those you are used to from your own bank. The fee for foreign currency use for cashless credit card payments usually fluctuates between 1% and 1.75%. Special fees can sometimes also be charged by the restaurant or the hotel. It is therefore worth avoiding cashless payments and getting cash from the machine as needed.
However, there are credit card contracts in which there are no fees for cashless payments or for ATM withdrawals. You receive this credit card when you open one of the free current accounts offered in Germany, which not only enable free cash withdrawals abroad, there is also no annual fee for these cards. In addition, there are sometimes various special services, such as a starting credit of 50 or 100 USD when opening an account.
Cashless payment with such a credit card is also possible in Venezuela, which improves the holiday budget a bit. Switching from your house bank to a free current account is worthwhile for your trip abroad, but there are no other costs for account management.
In Venezuela, you should definitely have at least one credit card with you to be able to get enough cash. Because payment with cash is possible everywhere.