New Cash Exchange Points on San Andrés Island

Banco de la República (the Central Bank of Colombia) has set up two cash exchange points to solve the lack of banknotes and coins in circulation on the island of San Andrés.
Publication Date:
Tuesday, 28 November 2023
17:36

Banco de la República (the Central Bank of Colombia) has set up two cash exchange points to solve the lack of banknotes and coins in circulation on the island of San Andrés. 

Banco de la República’s Cultural Center in San Andrés informs the community that the Complementary Cash Center (CCE in Spanish) and the Cash Exchange Point are now available on the island. Through these points, the island’s merchants and the interested public will be able to exchange large and small value denomination banknotes and coins at no cost to the user. With this initiative, the Bank expects to renew deteriorated banknotes and increase the flow of cash.

Merchants may make their exchange requests through the financial entities where they have registered accounts; commercial banks are the only institutions that may present exchange requests before the Complementary Cash Center (CCE). This center is managed by ATLAS, a Cash Management Company, which will provide the following services:

  • Exchange of deteriorated small-value denomination banknotes for suitable small-value denomination banknotes and/or coins.  
  • Exchange of large-value denomination banknotes in any condition (suitable or deteriorated) for fit small-value denomination banknotes and/or coins.  
  • Exchange of deteriorated large-value denomination banknotes for suitable banknotes of any denomination. 

Additionally, Banco de la República set up a Cash Exchange Point with the company Multipagas, located on the first floor (office 112 of the Leda building) on Providencia Avenue (Morgan Canyon), where any citizen may exchange large and small value denomination banknotes in any condition for small-value denomination banknotes (COP$2,000 and COP$5,000). Each cash exchange transaction shall be for an amount up to COP 10 million.

The opening hours to access the services of the payment point are Mondays through Fridays from 8:00 a. m. to 6:00 p. m. and Saturdays from 8:00 a. m. to 2:00 p. m.

Please note:

he aforementioned exchange services are completely free of charge (zero cost).