Amazon’s Black Friday is here with the most anticipated discounts of the season; of course, we already had some promotions since November 20th. This season is the most awaited time to upgrade our gadgets and buy a little something extra. So, to help you stretch your money as far as possible, I’ve created this little guide based on my experience as a shopper who has always tried to protect his wallet. I admit I’ve sometimes fallen for some “discounts” that weren’t discounts at all, but you live and learn, as some say.
Amazon Prime is Key: Amazon has a minimum purchase value of $35 for free shipping to Colombia. For Amazon Prime members, this limit disappears. If you already have Prime Video, you automatically get the benefits of Amazon Prime, including the removal of the minimum purchase limit. Now for the little “trick”: if you want to take advantage of this benefit, you can sign up for Prime “temporarily.” The service has a 30-day free trial, so you can sign up, buy what you need, and cancel the trial before the 30 days are up. If you want to subscribe permanently, I recommend the annual one-time payment, which is much cheaper than the monthly payments. Even by splitting the payment into 12 installments, the savings would be approximately 45% compared to paying monthly. Other advantages of Amazon Prime include exclusive deals and shipping to Colombia for many items that a standard Amazon account doesn’t allow. You can sign up using this link: Amazon Prime.
Debit Card, a Viable Option: Many see not having a credit card as an obstacle to online shopping. Nowadays, that’s no longer a problem; for a couple of years now, it’s been possible to pay for your online purchases, both domestic and international, with a debit card. Remember that with a debit card you can’t split payments into installments, so you need to have enough money in your account to make the purchase.
Take Advantage of Bank Promotions: Take advantage of the promotions offered by various banks. For example, Davivienda has 15% discounts on purchases over $50, but with their “terms and conditions.” NuBank offers lower interest rates on purchases made on this day, and Bancolombia has a $20 coupon for purchases over $100; the latter also offers $10 coupons for purchases over $50 on the first Tuesday of every month. I’m not sure what promotions other banks have for this date.
Paying in Pesos or Dollars, That is the Question: The applicable dollar exchange rate for purchases is the Representative Market Rate (TRM), which appears on the Banco de la República website. Remember to check it at the time of your purchase. Although Amazon gives you the option to pay in pesos, keep in mind that they use an exchange rate different from the official one and also charge a small commission for the conversion service. The advantage is that they guarantee that the price shown is the one you will be charged. Generally, Amazon doesn’t charge for the purchase immediately; they do it when they have the item in their “hands”—the charge can happen a couple of hours after the purchase or maybe a couple of days later (usually no more than three days). Due to market volatility, the dollar can fluctuate, and this way Amazon guarantees you the price you saw at the moment of purchase. If you prefer to pay in dollars, then the cost of your purchase is governed by the aforementioned TRM. Those purchases in dollars are typically split into 24-month installments by your credit card issuer; if your bank allows it, you can change the number of installments if you want to make a single payment. With some cards, Amazon allows you to choose the number of installments for the purchase; when that option is available, then the payment must be in pesos. So, check the TRM at the moment of purchase to decide whether it’s better for you to pay in pesos or dollars.
The Tax Issue: Keep in mind that purchases with a value equal to or less than $200 do not pay customs duties (Article 428 of the Colombian Tax Statute), but for some items, due to their size or weight, Amazon may charge for shipping. If you are going to buy several items that together exceed the legal threshold, split the purchases; this way you avoid paying import taxes. This is legal, so you don’t have to worry about any repercussions from the DIAN (Colombian Tax and Customs Authority). When the cost of an item you want to buy exceeds $200, it pays the corresponding customs duties: the 10% tariff on the Free On Board (FOB) value, which includes freight and insurance (if Amazon charges for shipping), plus the 19% corresponding to VAT. Often, it’s still cheaper than buying it locally, especially if you can’t even find it in the country. One clarification: if you buy five or more similar items, even if the total purchase is below $200, you will also pay customs duties, as it’s presumed to be for commercial purposes. If you want to learn more about this, the DIAN has a very simple and easy-to-understand guide (in Spanish): “Modalidad de tráfico postal y envíos urgentes”. That’s if you want to know more, but fortunately Amazon handles all of this; so the price shown is exactly what you have to pay, whether it includes shipping or customs duties.
Hassle-Free Returns: If it’s your first time buying on Amazon, I recommend buying products that have the “Free International Returns” notice. This is found in the main product description column, under the product name and after the price. This is important for items like clothing or shoes, as sizing can vary between brands; so, better to make sure of this, and if it doesn’t fit, you can request a return without any issues. Returns are handled through DHL offices; you can find the nearest location on the DHL website. I do not recommend the package pickup option for smaller cities or towns. The time limit to request a return is 30 days, and remember, the product must be eligible for returns.
Shipping Carriers: Amazon uses different companies for its shipments: Envía, DHL, etc. But the most common one is Pasarex, which only has offices in capital cities or major urban centers. If they don’t have an office in your location, they use a third party for delivery, which is usually Interrapidísimo.
Watch Out for the Marketplace: Not all products are sold directly by Amazon; some are from official stores, like Samsung’s, and others are from third-party sellers (the marketplace). However, Amazon handles the logistics and claims in case of any problems. For this reason, you can sometimes find the same product at different prices. Also, while most items on Amazon are original brands, be careful—on rare occasions you might find replicas, so don’t be fooled by the price alone. The important thing is to always read the reviews, check the ratings, and look at the number of sales.
That’s all. I hope your money goes a long way and the purchasing process doesn’t turn into a nightmare due to lack of knowledge. This guide works for any purchase you make on Amazon; it’s not just for Black Friday. In the future, hopefully soon, I’ll make guides about buying from other online stores; Chinese stores are a whole other story.
This guide is a more detailed version of the one published in the HuilaGeek Facebook group (https://www.facebook.com/share/p/1BjfX6NT4m/). The guide is also valid for Cyber Monday, which is the first Monday after Black Friday and focuses more on technology items.