Paying for a vehicle in Chile is not a very easy task, most ATMs are limited to 200,000 CLP a day and charge high fees. international bank transfers takes ages to arrive, this makes buying a car more complicated and creates trust issues with local sellers. Here we have gathered all the solutions we heard about through all the cars our clients bought:
First: consider bringing USD/EURO in cash with you (our recommended budget is 7,000-10,000 USD)
converting cash in Chile is probably the easiest, cheapest and fastest solution.
Try this Scotia ATM, might allow many withdrawals of 200,000 without high fees or any fees https://goo.gl/maps/rnZY9KbyFuv address: Monjitas 860, Santiago, Región Metropolitana
Revolut - https://www.revolut.com/ prepaid credit card, can be used to take out large amounts from atms in chile.
BICE Bank - might have no commission and fees to some nationalities.
www.transatuauto.cl a chilian system to pay in credit card for cars.
Transferwise - great for bank transfers
Small world - works for some nationalities, good for getting cash with low rates.
Pros: fastest, cash that can be paid at the time of transfer (safer)
cons: The most expensive. Western union charges around 7% for each transfer and its limited for 5000$ for each transfer, walking around with cash is not safe, they don't always have all the cash in one place.
pros: You don't have to walk around with cash, less fees from western union, arrives directly to seller.
cons: very slow (3 - 10 days), need to wait for the money to show in the seller's account. Most of the time the seller will keep the car until the money shows in his account.
Many particular sellers won’t sell you the car this way
cons: can be very slow as most people are limited for 200,000 a day, some atm's have high commissions (you should use banco internacional,banco security ,santander and scotiabank. Do not use chilean banks
Alternative online money transfer services you should check out:
https://www.smallworldfs.com/small-world/esp/es-es - small world - a service for getting cash cheap and easy but only works with some countries
https://azimo.com/en/ - new service, no reviews yet
Pros: lower fees, easy transfer
Cons: you should check which service suits you best, can be slow sometimes.
If you buy from a car dealership they might accept Visa but they charge a percentage
If you buy from another foreigner you should do a direct bank transfer between your countries.