Withdrawing Money can be a real pain. It took me a while to find the right ATM’s. One’s that usually work are: Banco Republica, ScotiaBank, Itau and sometimes Santander. You will be able to withdraw USD and Uruguay pesos. There is usually a 6 USD fee.
You can Exchange Money at the “cambio”. Look for this sign. You don’t need an ID and they don’t charge commission (sweet deal). If you exchange more than 200 USD you will get a better rate. Try not to exchange money at the airport as you will get a very bad conversion and that will spoil your holiday. Best to take money with you and exchange the following day at the “cambio” or bank.
$ is the peso sign and U$S is the USD dollar sign. It can be confusing. You can pay in USD at restaurants, shops, taxis – but you will get change in pesos. Remember to pay with your VISA in restaurants, so you pay 22% less VAT, which happens automatically. The machines will register that your card is foreign. You can also pay with MasterCard, but the tax is not written off right away. There is usually a delay, so I recommend VISA.