Money, Cards and ATMs in Peru: What to Carry and What to Decline

Peru’s currency is the sol (plural soles, written S/ or PEN), and it is what you will use for taxis, markets, snacks, tips and most daily spending. Visa and Mastercard debit cards work at ATMs across the country, but the machines charge their own fee on top of whatever your home bank charges. They also cap how much you can take out at once, so planning your withdrawals saves real money. Two other decisions come up on the ground. One is whether to accept a card terminal’s offer to charge you in your home currency (decline it). The other is how to tip, which is customary in soles and mostly done in cash.

The figures below carry the dates their publishers gave. ATM fees and limits change often, so the number on the machine’s screen before you confirm is the one you pay. The Peruvian exchange-rate figures were current on November 6, 2026.

Exchange rates and conversion offers

The sol’s exchange rate against the US dollar changes daily, and several rates are in use at once. SUNAT, Peru’s tax authority, publishes a reference rate used for tax and accounting. For Friday, November 6, 2026, SUNAT’s rate was S/ 3.446 to buy and S/ 3.452 to sell, so one US dollar was worth between those two figures. Over the previous two weeks the reference rate stayed in a narrow band: S/ 3.443 buy and S/ 3.451 sell on October 26, and S/ 3.458 buy and S/ 3.467 sell on November 2. A rounded mental conversion based on these figures is close enough for budgeting.

The SUNAT rate is a benchmark and differs from what a traveler gets when exchanging money. On the same day, the dsn.pe page listed street-market quotes of S/ 3.435 to buy and S/ 3.455 to sell, and an online digital-dollar platform quoting S/ 3.436 to buy and S/ 3.516 to sell. The gap between the buy and sell prices is the exchanger’s profit, so a wide gap costs you more. If you bring US dollars to change, compare two or three quotes before handing over notes.

Some Peruvian businesses accept US dollars, but this depends on the town and the type of business. Treat dollars as a backup and plan to pay in soles. Some ATMs dispense dollars as well as soles, and a machine that does will offer the choice on screen. Withdrawing soles avoids a second conversion, and soles are what you will actually spend. If you do take dollars out, they are typically US$ 20 notes.

On a first trip, the simplest approach is to withdraw soles shortly after landing from an ATM inside the airport or at a bank branch. Before you leave the country, change any leftover soles back.

Declining dynamic currency conversion

Dynamic currency conversion (DCC) is an offer, made at a card terminal or ATM, to charge you in your home currency instead of soles. It sounds convenient because you see the final amount in dollars. The merchant, its bank, or the ATM operator sets the conversion rate, which usually includes a markup. Without DCC, your own card issuer converts the amount when the charge posts, usually a day or two later, at the network rate plus any fee your bank applies.

Travel Currency Guide’s June 2026 BCP page lists a DCC markup of about 5% to 12% if you accept it, and other guides cite different ranges, so check the terminal’s disclosure. Even the low end is more than the 1% to 3% conversion fee a home bank typically charges. On a S/ 400 withdrawal, a 5% to 12% markup is a substantial extra cost, comparable to or larger than the ATM fee itself.

The rule is simple: choose soles (PEN). Travel Currency Guide’s Peru page advises declining conversion and choosing the sol option when an ATM asks whether you want to be charged in your home currency or mentions conversion or a "guaranteed rate." Wording varies between machines, so any prompt that mentions your home currency, an exchange rate offered on the spot, or "conversion" is a DCC prompt. The sol button is the one that lets your bank do the conversion.

Card network rules require DCC providers to disclose the exchange rate and margin. They also require that cardholders can choose between local and home currency. The Wikipedia article on DCC notes that not every merchant complies. If a restaurant or shop runs a card in dollars without asking, check the receipt before you sign. If it shows your home currency, ask them to cancel and re-run the payment in soles. Waiters sometimes run the card on a handheld terminal at the table, so look at the screen before approving.

Cards to bring and ATM fees

Peruvian ATMs typically accept Visa, Mastercard and American Express, and Visa is the most common network. A US debit card showing a Visa, Mastercard, Plus or Cirrus logo works at BCP (Banco de Crédito del Perú), the country’s largest bank, according to Travel Currency Guide’s June 2026 BCP page. Bring at least two cards from different networks or banks. If one is blocked or swallowed by a machine, you still have money.

Before you leave home, tell your bank you are traveling and confirm that the card is cleared for foreign use. Anti-fraud blocks on foreign ATM withdrawals are common, and a block placed while you are in a village with no other options is a bad place to discover the problem. Check also what your bank charges for foreign ATM use and for foreign transactions, since those fees apply every time. Some debit cards waive them, and choosing one of those cards saves money on every withdrawal.

You may see references to Peru’s cash-payment rule, called bancarización (literally "banking-ization"). Since April 1, 2022, Decreto Legislativo 1529 has set the threshold at S/ 2,000 or US$ 500, lowered from S/ 3,500. Above that amount, Peruvian taxpayers must pay through banks to deduct a business expense. Law firm Carlos Lingan & Asociados gives the same figure in a piece dated April 26, 2026. The rule applies to taxpayers who claim business expense deductions. It does not limit what a traveler pays in cash for hotels, tours, meals or shopping.

Card payment works in Lima’s larger hotels, malls and restaurants. Cash covers the rest: market stalls, small restaurants, taxis and tips. Some villages have no ATMs at all, so withdraw enough before heading to remote areas.

Every foreign-card withdrawal carries two fees. The Peruvian bank or machine operator charges the first, and your home bank charges the second. Both are charged per withdrawal, so a S/ 400 withdrawal and a S/ 700 withdrawal cost the same fee. The table shows reported Peruvian fees per withdrawal, from New Peruvian (updated July 23, 2026) and Travel Currency Guide (June 2026).

Across the large banks, expect roughly S/ 18 to S/ 36, about US$ 5 to US$ 10 at current rates. Banco de la Nación, the state bank, is the main exception. Its MultiRed ATMs are generally free for foreign cards, and New Peruvian calls it "one reliable exception." Its machines, however, have a withdrawal cap of about S/ 400, so the fee savings come with smaller withdrawals. The standalone GlobalNet machines found on streets and in small shops sit at the expensive end of the range.

Your home bank’s charges are added on top. Travel Currency Guide gives a typical foreign ATM fee of US$ 2 to US$ 5 from the home bank, plus a currency-conversion fee of 1% to 3% unless your card waives it. New Peruvian reports that some home banks charge more than US$ 10 per overseas withdrawal. A single withdrawal can therefore cost US$ 7 to US$ 20 or more in combined fees. That is a large share of a S/ 400 withdrawal worth about US$ 116.

ATM limits and withdrawal planning

Per-withdrawal limits matter more than most first-time visitors expect. As of July 2026, New Peruvian reports that about S/ 400 is standard at most machines, including BBVA, Interbank, Scotiabank and Banco de la Nación. BCP and BanBif machines typically allow about S/ 700. Travel Currency Guide’s June 2026 BCP page puts BCP limits at about S/ 700 to S/ 1,000, varying by machine. These caps apply to dollar withdrawals as well.

At S/ 400 per withdrawal, a one-week budget of S/ 2,000 needs several withdrawals and several fees. The higher-limit BCP and BanBif machines reduce that number. BCP machines are widespread, including in tourist towns, so building your plan around them is realistic. Run the arithmetic for your own trip: divide your expected cash needs by the limit at the machine you plan to use, then multiply by the fee.

Three more points affect timing:

• Night limits. Some banks lower the withdrawal amount at night, typically between about 10 p.m. and 6 a.m. A machine that dispensed S/ 700 in the afternoon may offer less after dark. Safety is another reason to withdraw during the day, ideally inside a bank branch, a mall or a hotel.
• Daily totals. Daily withdrawal limits exist and vary by bank. New Peruvian says they "seem to change often," so the screen of the machine or your home bank’s app gives the accurate number. Your home bank sets its own daily limit too, and the lower of the two applies.
• Old rules. New Peruvian reports that BCP introduced a monthly foreign-card limit of S/ 700 in 2017, and that this restriction lapsed long ago. Old forum posts and guidebooks still mention it, and it no longer applies.

Three habits reduce the fee cost of withdrawals. Make fewer, larger withdrawals, up to the machine’s cap, since each one carries a fixed fee. Use Banco de la Nación machines when one is nearby and a smaller amount suits you. And read the fee screen before pressing confirm. Peruvian machines are required to show the charge before the transaction, and you can cancel at that point without paying anything. A card that refunds ATM fees or waives foreign-transaction fees changes the math, so check your bank’s terms before you go.

Because limits and fees both vary, withdraw before you need the money. Pull cash in Lima or Cusco city before heading to smaller towns, trekking trailheads or villages, where machines are fewer, offline more often, or empty.

Cash, notes and refused bills

Soles withdrawals usually come out as S/ 100 notes, sometimes S/ 50 or S/ 20. A S/ 100 note is hard to break for a S/ 3 taxi ride, a market snack or a small tip. Explorify recommends carrying S/ 5, S/ 10 and S/ 20 notes for taxis, markets and small tips, and The List Nest says large notes are difficult to break for small tips. Break your S/ 100 notes early, at hotels, supermarkets, pharmacies or restaurants, and keep the small notes and coins in a separate pocket from your main cash.

How much cash to carry depends on your route. In Lima, Cusco and other cities, you need less cash each day because many hotels, restaurants and shops take cards. On trekking routes, in villages and at markets, cash is the main way to pay, along with tips for guides, porters and drivers. Withdraw enough for the whole stretch before you leave the last reliable ATM. Keep the reserve in two places, such as a wallet and a hidden pouch, in case of loss.

Refused notes and your rights

Peru’s consumer-protection agency, Indecopi, issued a notice carried on October 14, 2026 by El Peruano and Radio Nacional. It says businesses must accept bills and coins issued by the central bank (Banco Central de Reserva del Perú), citing article 43 of that bank’s Organic Law. Businesses may encourage cards and digital wallets for security or convenience, but that does not exempt them from taking cash. Refusing cash without a valid reason may harm consumer rights and may be a consumer-protection infraction.

The exceptions are notes showing signs of counterfeiting, notes that are badly damaged, and notes withdrawn from circulation. The notice followed a case in Chimbote where a shop refused S/ 200 notes, and Infobae reported on October 15, 2026 that a blanket ban on all S/ 200 notes, imposed without examining their features, could be an infraction. If a business refuses your genuine bill, ask for the reason and request the libro de reclamaciones, the complaints book that businesses must keep. RPP reported on October 16, 2026 that penalties range from a warning to a fine of up to 450 UIT (a tax unit Peru uses to set fines).

In practice, shopkeepers do refuse torn, taped or heavily worn notes, and you can still have trouble even when the rule is on your side. Inspect the bills you receive and politely ask for replacements for torn ones at the time of the transaction, since passing them on later is the same problem in reverse.

Tipping in cash

Tipping is customary in Peru, and it is mostly done in cash and in soles. Explorify says tips are usually given in soles, while First Step Expeditions says US dollars are increasingly used and sometimes preferred, so staff in tourist areas may take either. Cash is better than card for tipping. Staff receive cash right away, while tips added to a card may be delayed or never added on the terminal, according to The List Nest. That is another reason to hold small notes and coins.

Restaurants and the service charge

When the bill shows no service charge, 10% is the most common restaurant tip, according to Peru Explorer and Infobae, citing ESAN professor Edmundo Lizarzaburu. Evolution Treks suggests 10% to 15% at upscale places. At casual restaurants, Explorify suggests rounding up the bill or leaving S/ 3 to S/ 5. Salkantay Trekking (updated October 28, 2026) says gratuity is generally not included in most bars and restaurants.

Read the bill first, because some places add a charge. When a service charge is included, it usually appears at upscale places as a line such as "10% service charge." Look for "servicio" or "servicio de mesa" on the receipt, which Peru Machu Picchu Tours says typically indicates a 10% charge. A surcharge of this kind is called a recargo al consumo, and it may be up to 13% of the bill. If it is already on the bill, you do not need to add a full tip on top.

The legal picture has been described differently over time. Infobae in 2024 called the recargo a compulsory tip. The more recent view comes from lawyer Roberto Shimabukuro, who told La República on July 12, 2025 that restaurants cannot force customers to leave a tip, because it must be voluntary. If you object to a charge, you can ask for a corrected bill without it, use the complaints book, or file a complaint with Indecopi.

Other customary amounts

The amounts below come from tipping guides and vary by guide and region. Treat them as starting points.

Trekking tips add up quickly because they are per day and per trekker, and they are paid in cash at the end of the trek, usually in a group handover. If you plan a multi-day trek, withdraw the tip money beforehand and bring it in small notes so the group can split it fairly.

Key Takeaways

• Carry soles and break large notes early. ATMs dispense mostly S/ 100 notes, which are hard to change for taxis, markets and tips, so keep a stock of S/ 5, S/ 10 and S/ 20.
• Expect a fee on each foreign-card withdrawal. Large Peruvian banks charge roughly S/ 18 to S/ 36 (about US$ 5 to US$ 10) on top of your home bank’s fee, and Banco de la Nación’s MultiRed machines are the main fee-free option. Read the fee on the screen before you confirm.
• Match withdrawals to machine limits. Most machines cap a withdrawal at about S/ 400, while BCP and BanBif typically allow about S/ 700, so fewer, larger withdrawals at those machines cost less in fees. Withdraw before heading to villages and trekking routes.
• Decline dynamic currency conversion every time. Pick soles at ATMs and card terminals, since accepting your home currency carries a reported markup of about 5% to 12%. Check receipts for charges in dollars.
• Tip in soles and check the bill first. The usual restaurant figure is 10% when no service charge appears, and a "servicio" line or recargo may already cover it. Staff get cash tips immediately, but card tips may be delayed.
• Clear your card before leaving home. Anti-fraud blocks are common on foreign ATM use, and carrying two cards from different banks or networks covers a blocked or lost one.