Quick Answer: Expect to pay between 18-36 Peruvian soles ($5-$10 USD) per ATM withdrawal in Peru, with limits of 400-700 soles per transaction. Banco de la Nación offers fee-free withdrawals, while BCP provides the highest limits at 700 soles per transaction.
Current ATM Fee Structure in Peru (2025)
ATM fees in Peru have increased significantly since 2017, creating a challenging environment for budget-conscious travelers. Understanding the current fee structure helps you plan your cash strategy effectively.
Major Bank ATM Fees and Limits
Fee-Free Options:
- Banco de la Nación (MultiRed): No fees, 400 soles limit per transaction
- BCP (select foreign cards): No fees for some international cards, 700 soles limit
Banks with Fees:
- Scotiabank: 18-20 soles fee ($5-6 USD), 400 soles limit
- BBVA Continental: 18-25 soles fee ($5-7 USD), 400 soles limit
- Interbank: 20-25 soles fee ($6-7 USD), 400 soles limit
- BanBif: 18-20 soles fee ($5-6 USD), 700 soles limit
- GlobalNet: 19-36 soles fee ($5-10 USD), 400 soles limit
Important Note: Fees and policies change frequently. Always check the ATM screen for current fees before completing your transaction, as some machines display charges before processing.
Understanding ATM Withdrawal Limits
Peru’s ATM withdrawal limits are notoriously low compared to other countries, which can be frustrating when you’re trying to minimize transaction fees.
Per-Transaction Limits
- Standard Limit: 400-700 Peruvian soles ($110-$190 USD)
- Highest Limit: 700 soles at BCP and BanBif
- Lowest Limit: 400 soles at most other banks
Daily and Monthly Restrictions
Beyond per-transaction limits, many banks impose additional restrictions:
- Daily Limits: Most banks allow 2-3 withdrawals per day
- Monthly Limits: BCP previously had a controversial once-per-month limit for foreign cards (now reportedly lifted)
- Your Bank’s Limits: Check with your home bank for overseas withdrawal limits
Three Types of ATM Fees You’ll Encounter
Understanding all potential charges helps you calculate the true cost of accessing your money in Peru.
1. Peruvian Bank Fees
Local banks in Peru charge foreign cardholders for ATM usage. These fees range from 0 soles (at Banco de la Nación) to 36 soles (at premium locations like airports).
2. Your Home Bank’s Foreign Transaction Fees
Most banks charge for overseas ATM use:
- Fixed Fee: $3-$5 USD per transaction
- Percentage Fee: 1-3% of withdrawal amount
- Both: Some banks charge both fixed and percentage fees
3. Currency Conversion Charges
Banks profit from exchange rate markups, typically adding 2-4% above the mid-market rate. Always choose to be charged in Peruvian soles rather than your home currency to avoid Dynamic Currency Conversion (DCC) fees.
Best Banks for ATM Withdrawals in Peru
1. Banco de la Nación (MultiRed) – Best for Fee-Free Withdrawals
- Pros: No withdrawal fees, widely available
- Cons: Lower 400 soles limit, often crowded
- Best for: Budget travelers, frequent small withdrawals
2. BCP (Banco de Crédito del Perú) – Best Overall
- Pros: Highest 700 soles limit, no fees for select cards
- Cons: May charge fees depending on your card type
- Best for: Travelers wanting to minimize transactions
3. Scotiabank – Best for Global ATM Alliance Members
- Pros: No fees for Bank of America, Barclays, and other alliance members
- Cons: 400 soles limit, fees for non-alliance cards
- Best for: Customers of partner banks
Smart Alternatives to Traditional ATMs
Savvy travelers are finding creative ways to avoid Peru’s high ATM fees entirely.
Money Transfer Services
- Western Union: Send money to yourself, collect at any location
- Remitly: Transfer to Interbank for pickup
- Xoom (PayPal): Popular with US travelers
- Azimo: Good option for European travelers
Digital Banking Solutions
- Wise (formerly TransferWise): Multi-currency card with real exchange rates
- Revolut: Up to $500 fee-free withdrawals monthly
- Charles Schwab Checking: Reimburses all ATM fees worldwide
Cash Advance at Bank Tellers
Some travelers successfully obtain cash advances at bank counters using Visa cards, though this isn’t guaranteed and may involve fees.
ATM Safety Tips for Peru
Protecting yourself and your money is just as important as saving on fees.
Choose Safe ATM Locations
- Use ATMs inside banks or secure buildings
- Avoid standalone street machines
- Prefer ATMs in well-lit, busy areas
- Never use ATMs at night if possible
Security Best Practices
- Cover your PIN entry
- Check for card skimming devices
- Put cash away immediately
- Have someone accompany you if nervous
- Keep backup cards in separate locations
Before You Travel
- Notify your bank of travel plans
- Confirm your card will work internationally
- Ensure you have a 4-digit PIN (standard in Peru)
- Check your daily withdrawal limits
- Research your bank’s international fees
Where to Find ATMs in Peru
Guaranteed ATM Locations
- Plaza de Armas: Every town’s central square has nearby ATMs
- Shopping Centers: Malls always have multiple bank ATMs
- Airports: All major airports (higher fees expected)
- Bank Branches: Most secure option
Limited ATM Areas
- Small Andean villages
- Remote jungle locations
- Inca Trail (bring cash for entire trek)
- Some beach towns
Pro Tip: Always carry backup cash when heading to remote areas, as ATMs may be out of service or out of money.
Currency Considerations
Soles vs. Dollars
Most Peruvian ATMs offer both currencies:
- Peruvian Soles: Better for daily expenses, small vendors
- US Dollars: Accepted in tourist areas, useful for larger purchases
Bill Denominations
ATMs typically dispense:
- 100 and 50 sole notes (most common)
- 20 sole notes (if you’re lucky)
- Request smaller bills at banks when possible
Money-Saving Strategies
Minimize Transaction Frequency
- Withdraw maximum amounts to reduce per-transaction fees
- Plan your cash needs for several days
- Balance security with efficiency
Optimize Your Banking Setup
- Get a travel-friendly debit card before departure
- Consider digital banking solutions
- Research Global ATM Alliance partnerships
Mix Payment Methods
- Use credit cards where accepted (restaurants, hotels)
- Keep cash for markets, tips, and small vendors
- Consider money transfers for longer stays
Regional Variations in Peru
Lima and Major Cities
Abundant ATM options with competitive fees and higher limits.
Cusco and Tourist Centers
Good ATM availability but potentially higher fees due to tourist demand.
Amazon Jungle
Limited ATMs in Iquitos and Puerto Maldonado; bring sufficient cash for jungle tours.
Coastal Towns
Variable ATM availability; major beaches like Máncora have options, smaller fishing villages may not.
Emergency Cash Solutions
When ATMs fail or are unavailable:
- Hotel Front Desk: Some can exchange USD for soles
- Casas de Cambio: Currency exchange offices in tourist areas
- Banking Hours: Visit bank branches during business hours
- Emergency Contacts: Keep bank phone numbers for card issues
Frequently Asked Questions
Q: Which bank has the lowest ATM fees in Peru?
A: Banco de la Nación (MultiRed) offers fee-free withdrawals but with a 400 soles limit. BCP may not charge fees for certain international cards.
Q: Can I use my credit card at ATMs in Peru?
A: Yes, but credit card cash advances typically carry higher fees and immediate interest charges. Debit cards are more cost-effective.
Q: How much cash should I withdraw at once?
A: Withdraw the maximum allowed (700 soles at BCP) to minimize transaction fees, but only carry what you need for safety.
Q: Do ATMs in Peru accept all international cards?
A: Most accept Visa and Mastercard. American Express and Discover have limited acceptance.
Q: Are Peru ATM fees tax-deductible for business travel?
A: Consult your tax advisor, but bank fees for business travel may be deductible in some jurisdictions.
Final Thoughts
While Peru’s ATM fees can be frustrating, understanding the system helps you minimize costs and avoid surprises. The key strategies are:
- Use Banco de la Nación for fee-free withdrawals when possible
- Maximize withdrawal amounts to reduce transaction frequency
- Consider digital banking alternatives for longer stays
- Always prioritize safety over saving small amounts
- Have backup payment methods ready
Remember that ATM policies change frequently in Peru, so verify current fees and limits when you arrive. With proper planning and the right banking tools, you can keep your money access costs minimal and focus on enjoying Peru’s incredible attractions.
Planning your Peru adventure? Check out our other travel guides for insider tips on transportation, accommodations, and must-see destinations throughout Peru.
