easy money in Colombia and Venezuela

[mmaarten]

It sound strange, but it actually works... Ofcourse there is some risk involved.
This was in 2004, so check first.

You start in Colombia.
First you go to the bank in a major town and withdraw 1000 U$ on your credit-card. You receive the money in Colombia peso's. aprox 2500 peso for a U$
Now you exchange this at a street-money-exchange into U$. You will receive approx. 10 % more. (1100 U$) due to exchange rate's differances at banks and exchange offices.

Now you ride you bike into Venezuela. There the have a U$-shortage, so while the official rate is 1900 for a U$, on the street they pay you 2600 for a U$.

So now you have Venezuelan bolivares for a value of aprox 1500 U$.

Ride back to Colombia and at the border these Bolivares will be exchanged for peso's at little less then the normal rate... Lets say you end up with 1450 U$ in Colombian peso's, which again you exchange and earn 10 %.

Sound like heaven huh?

Ofcourse it is not alowed to bring U$ into Venezuela.... and if they catch you, they will write this in your pasport and you need to exit with the same amont.
If the amount is to high (I think more then 1000 Us) they will thank you very friendly and take it of your hands..... or, if you are very unlucky, they put you in jail (but this means the guard looses the money)

Some people I met live on this... but they admit it gets harder and harder. There faces are to well known by now.

Maarten

[jimmmy]

A friend of mine lives in Venezuela and told my about the same thing.

[brclarke]

More money is nice. Getting fined is not nice. Getting thrown in jail is worse.

I think I'll stick to making money legally, thanks. It takes a lot longer, but at least I don't end up in the slammer...

[Cpt Barbarossa]

If that is the case... why go to Venezuela? Why not just take $1000 out of the bank, walk round the corner get "10%" $100 more, walk back, do it again and so forth and make about $1,000 an hour?????????

Why have 3 million poor Colombians not latched onto this?

Since when do you need to check in to cross teh Venez/Colombian border? Thousands of Colombians and Venezuelans walk, ride, drive through Cucuta border daily and don't bother with their passports.

(I crossed Colombian borders 3 times in 3 entries and had to go back to get my stamps each time cos they flow without obvious restriction)

Although I admit, if I'd seen this when I was there I'da tried with $100 out of curiosity.
:confused1: :confused1: :confused1:

[juddadredd]

[Shakes head] Why not just run

Drugs
Weapons
Booze
And Women

Across the borders like the rest of us, I mean how the hell do you think WE can afford to do these extended trips.

I Thought everyone know Sue bought Grant at auction in Peru for a knock down price I might add, and that's how their trip started jumping borders avoiding the LAW.

[Cpt Barbarossa]

Mate, you are the epitome of evil....

What I always wanted to be when I grew up. Jejeje.

If ur on the road I wanna hook up just to put a face to the DEVIL.lol.

You travelling? Or on sabbatical at home? if you're within 3 borders of me st any point I'll cross em, to meet ya mate.

[twinkle star]

thanks for that... now to find the starting 5k to get to colombia....

[venezraider]

here are a few tips etc when travelling to Venezuela, the black market rate as it's an election year has exploded it's around 9.5 BsFs to the $.
The street rate is 8 maybe 8.5 if you have a decent amount to exchange, the best place and probably most safe is in the International terminal at CCS, guys will approach you as soon as you get thru customs or in the terminal, most speak some english, and offer siete 7, you say no ocho 8, usually if you have around $1000 they will give you that.
Remember it is illegal and if a National Guardsman sees you you will end up giving him everything to avoid jail, be smart and savy, make sure the guy who exchanges your $s does not call you a taxi, because odds are that is his friend and half way to Caracas, he will pull over put a gun to your head and steal everything you own.
As far as exchanging Bolivars in Colombia then back into $s, be careful ( Colombia is after Peru the second biggest forgers of counterfeit $s so carry a marker pen like they use in banks to check the $s are legit), the Chavez govt. has been cracking down on that and the borders now are very very dangerous for anyone doing multiple crossings, due in part to the illegal sale of gasoline, so make sure you stash your cash in a safe place not the usual money belt etc, I've been going there for 8+ years so I know the scoop, just be careful and don't expect any help from the cops as most are on the take too

[venezraider]

the other tip is wear a bum bag with a back hidden pocket with your money in, in the front compartment have another wallet with a few $s and BsFs in and a bunch of the fake credit cards that you get in the mail when companies are trying to get you to sign up, that way if you are held up then you give them the wallet with the fake cards and you walk away some what intact !
Also get photocopies of all your documents before you get there, you will need them !

[ANDYDK]

Sounds like good advice........

Would you buy a house in Ven dude?