El Salvador

Money & costs

Money

In January 2001, El Salvador adopted the US dollar as official currency, a change known as the dolarización. The previous currency (the colón) technically still exists, but you'll probably never see or use one.

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ATMs

ATMs (cajeros automáticos) can be found in most cities and towns, especially those that receive a fair number of travelers. (The glaring exceptions are Suchitoto, Perquín and La Libertad.) Banco Cuscatlán, Scotiabank, and Banco Atlántida have the largest network of ATMs, and most accept major foreign debit cards. It used to be that ATMs only accepted cards with Plus/Visa symbols, but Cirrus/Mastercard debits cards now generally work as well. If the machine doesn't take your card, you may be able ask the teller inside the bank. Or if your bank at home charges exorbitant foreign ATM fees (and your debit card has a Visa or Mastercard symbol) you can usually avoid the fee by going into the bank and using your debit card to take out a cash advance, as if it were a credit card. For this to work be sure to say it is a tarjeta de crédito not a tarjeta de débito. The malls in San Salvador, Santa Ana and San Miguel all have multiple ATMs, and are a secure place to withdraw cash. In town, some banks place their ATMs in small locking cabins, which are preferable to those right on the street. In all cases, be aware of your surroundings and avoid withdrawing money at night.

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Cash

Bring US dollars, preferably in US$20 bills and smaller. There is no need to buy, carry or use the old Salvadoran currency - even ATMs distribute dollars. Banco Cuscatlán, Scotiabank and Banco Atlántida change travelers checks; only Banco Cuscatlán exchanges non-US currency, like euros or quetzals. You can also change Honduran lempira and Guatemalan quetzals at the respective borders.

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Credit cards

Credit cards are usually accepted without an additional fee in modern malls, high end hotels and upscale stores, but smaller establishments often add a 6% to 12% surcharge. Visa cards encounter the least resistance, though Mastercard is very widely-accepted now as well; American Express is much more hit-and-miss.

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Traveler's checks

Many people find travelers checks less convenient and no more secure than using debit cards. You may consider bringing a couple of hundred dollars in TCs, as an emergency stash should your debit card be lost or stolen; you can always re-deposit unused checks into your bank account when you return home. Most Banco Cuscatlán, Scotiabank and Banco Atlántida branches change traveler's checks (passport required); American Express checks are best. There are also Western Union offices in most towns, even tiny isolated ones - hello, remittances!

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