Planning a trip to Chile? Whether you are paying for your hotel, eating out or withdrawing cash from an ATM, the moment you use your everyday bank card outside the sterling area, your bank back home may quietly start charging you.
In Chile, you do not pay in pounds. Every time you use your normal bank card, your bank may charge a so-called foreign transaction fee (usually 1.75% to 2.00%).
Many holidaymakers only notice this creeping drain on their money weeks later, when they check their bank statement at home and find dozens of small foreign currency charges.
Estimate your travel budget. Based on typical market conditions, our calculator works out how much your current bank is likely to charge you for currency conversion in Chile.
Editorially checked on: 05/07/2026
You do not have to put up with these bank charges. Specialist travel credit cards are designed for exactly this purpose: they waive foreign transaction fees worldwide and may even cover charges for withdrawals at third-party ATMs, depending on the provider’s terms.
Apply for a fee-free travel credit card before your holiday (for example Barclays, DKB, TF Bank or N26). These cards often come with a £0 annual fee on a long-term basis.
Pay in Chilean Peso (CLP) using the genuine, fair Visa/Mastercard exchange rate.
Compare the best travel credit cards nowPermanently fee-free • £0 at ATMs worldwide • Apple/Google Pay compatible
Most current accounts are optimised for use within the UK or familiar payment areas. As soon as you travel beyond that, banks often turn it into a lucrative source of income. There are two main cost traps you need to know about in Chile:
As payments in Chile are made in Chilean Peso (CLP), your bank has to convert every transaction into pounds, whether in a supermarket, hotel or car hire office. For this internal processing step, almost all traditional banks add a percentage surcharge. The industry norm is around 1.75% to 2.00%. So if you spend the equivalent of £1,000 by card on holiday, your bank may automatically keep up to £20 as a processing charge.
It becomes even more expensive if you need cash from an ATM. If you use your normal debit card or a standard credit card, your bank will often charge a fixed fee per transaction, regardless of how much you withdraw. These charges are often at least £4.50 to £6.50 per withdrawal. If you keep taking out small amounts while away, the fees quickly add up.
| Service in Chile | Traditional high street bank | Genuine travel credit card |
|---|---|---|
| Payment in restaurants/hotels | approx. + 1.75% to 2.00% fee | 0.00% (free) |
| Cash withdrawal at an ATM | approx. £4.50 - £6.50 per withdrawal | £0.00 (free) |
| Annual card fee | Often £25 to £70 per year | Permanently £0 |
There is one trick you absolutely need to know in Chile: when you pay by card or withdraw cash, the card terminal or ATM will often ask whether you want to be charged in the local currency (Chilean Peso (CLP)) or in pounds sterling (GBP).
Always choose the local currency (Chilean Peso (CLP))!
If you choose “in pounds”, the ATM operator or merchant in Chile carries out the currency conversion (DCC). These rates are usually very poor and can include hidden mark-ups of up to 10%. If you are charged in Chilean Peso (CLP), you leave the conversion to Visa or Mastercard at their fair, up-to-date wholesale exchange rates.
Cards on domestic-only networks may not work reliably outside Europe. Cards with a Maestro logo or newer Visa/Mastercard debit cards usually work technically. However, they do not protect you from your bank’s often very high foreign transaction and cash withdrawal charges.
Yes. Some ATM operators in Chile add their own usage fee (surcharge), which is added directly to the withdrawal amount (for example: “This ATM charges a fee of ...”). This fee is charged by the ATM operator, not by your bank. Even travel credit cards often cannot refund this third-party charge. In that case, simply look for an ATM from a different bank.
Even though card payments (Apple Pay, Google Pay and contactless) are becoming more common worldwide, you should still carry some local cash (Chilean Peso (CLP)) for tips, small street stalls, taxis or remote areas.
Our guides and calculators are based on the analysis of current price lists and terms from banks and card providers.
They are developed by our team to help travellers avoid unnecessary bank charges and tourist traps worldwide.
Important note: banking terms can change. Our calculator provides well-founded estimates to illustrate potential charges (guidance only).
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0% foreign transaction fee in Chile
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