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Money & Payments in Arequipa

Good to know

Good to Know

  • Visa/Mastercard are your most reliable cards in Arequipa; American Express and Discover rarely work
  • Banco de la Nación (MultiRed) ATMs offer fee-free withdrawals but cap at 400 soles per transaction—make multiple withdrawals to avoid carrying excess cash unsafely
  • Always check the ATM screen for fees before completing the transaction; they vary by machine and change without notice
  • Decline Dynamic Currency Conversion (DCC) at ATMs and card terminals—choose to be charged in soles and let your home bank convert at a better rate
  • Most Peruvian ATMs have withdrawal caps of 400–700 soles per transaction; plan ahead if you need larger amounts
  • Cash is essential for markets, street food, taxis, and rural areas; keep small 10–20 sol bills for convenience and to avoid overpaying on change
  • Use daytime ATM withdrawals at busy locations (bank lobbies, shopping centers) and cover your PIN; avoid isolated machines
  • Some card surcharges (5–10%) appear at small businesses and tour agencies—clarify total costs before paying

ATM Fees

Summary
Most Peruvian ATMs charge foreign cards 18–36 soles per withdrawal; fee-free options limited
ATM Access
ATMs are ubiquitous in Arequipa city center (banks, plazas, shopping centers, pharmacies); 24/7 outside bank branches

Fee By Bank

  • Banco de la Nación (MultiRed)
    Visa fee
    PEN 0.00
    Per Transaction Limit
    PEN 400
    Note
    Fee-free for foreign cards; often the cheapest option in Arequipa
  • BCP
    Visa fee
    PEN 0.00
    Per Transaction Limit
    PEN 700
    Note
    Some international cards qualify for fee-free withdrawals; no fee reported for selected foreign cards
  • Scotiabank
    Visa fee
    PEN 18
    Per Transaction Limit
    PEN 400
    Note
    Part of Global ATM Alliance; some account types may have reduced/waived fees
  • BBVA Continental
    Visa fee
    PEN 22
    Per Transaction Limit
    PEN 400
    Note
    Higher end of typical fees
  • BanBif
    Visa fee
    PEN 19
    Per Transaction Limit
    PEN 700
    Note
    Typically 13–20 soles; allows higher per-transaction limit

Currency Options

  • Peruvian Soles
    Currency Local
    PEN
  • US Dollars
    Currency Local
    USD

Account Opening Requirements

Recent Changes
As of June 16, 2025, foreign nationals may use passports or national identity cards as alternatives to a Peruvian Identity Card for opening certain savings accounts.

Residents With Carne

  • Carné de Extranjería (foreign resident ID)
  • Valid passport
  • Proof of address (utility bills, rental agreement)

Tipping Norms

Taxi Drivers
Rounding up or small change is customary; specific percentage norms not established
Guides And Tours
Common practice to tip; customary amounts not verified for Arequipa
Restaurants Casual
Tipping optional; 5–10% if you wish to add
Restaurants Upscale
Tip 10–15% if service charge not already added; check itemized bill before authorizing card
Note Research Limitation
General Peru guidance only; Arequipa-specific tipping culture not independently verified

Card Acceptance

Discover
Limited acceptance
Dcc Warning
Decline 'conversion to your home currency' (DCC) at POS terminals and ATMs; choose to be charged in soles for better rates
Visa Mastercard
Widely accepted in Arequipa city center, restaurants, hotels, supermarkets, and tourist businesses
American Express
Limited acceptance
Surcharge Warning
Some small businesses and tour agencies may add 5–10% surcharge for card payments; always ask before paying
Contactless Mobile Wallets
Growing mainstream acceptance in urban areas

Notes

Interbank and Scotiabank may accept some foreign nationals on tourist visas (exceptions exist). Online banking widely available and secure. Employer sponsorship possible for some expats (limited transaction access).

Challenges

Non-residents typically cannot open accounts; residency visa required. Tourist visa holders generally no longer accepted. Process requires in-person visit. Spanish-language documents standard. Banks charge fees for various services.

Major Banks

Major Banks

  • Banco de Crédito del Perú (BCP)
  • BBVA Perú
  • Scotiabank
  • Interbank
  • Banco de la Nación

Account Types

Account Types

  • Savings account
  • Checking account (cuenta sueldo)
  • Fixed deposit account

Withdrawal Limits

Daily ATM withdrawal limits typically range from 400–700 PEN depending on bank; some banks impose lower limits (e.g., 500 PEN) after 6 p.m.

AI-generated estimateData refreshed July 2026

Sources cited for this category

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

  1. 1.howtoperu.com
  2. 2.howtoperu.com
  3. 3.peru-explorer.com
  4. 4.terrasurtravels.com
  5. 5.atmfeesaver.com
  6. 6.defylife.com
  7. 7.myhospitalnow.com
  8. 8.bestcosmetichospitals.com
  9. 9.expatlife.ai
  10. 10.faculty.studyabroad.yale.edu
  11. 11.expatfocus.com
  12. 12.wise.com
  13. 13.fragomen.com
  14. 14.nvcabogados.com
  15. 15.expatfocus.com
  16. 16.rentechdigital.com
  17. 17.staywildtravels.com
  18. 18.foodtravelexplore.com

More About Arequipa

Data last updated July 2026 · Verify anything important.