BajaNomad

Buy Pesos ?

mojo_norte - 5-18-2017 at 06:30 AM

mtgoat666 - 5-18-2017 at 07:06 AM

Quote: Originally posted by mojo_norte  
Buy Pesos ?


Sure! Why not?

Bajaboy - 5-18-2017 at 08:01 AM

I do each trip.

woody with a view - 5-18-2017 at 08:03 AM

GottaPeso!

willardguy - 5-18-2017 at 08:32 AM

buy a bunch....they go quick ;)

David K - 5-18-2017 at 08:41 AM

On each of my research trips for this year, I have exchanged dollars to pesos before crossing south.
Last New Years, it was 20.00:1 (pesos: dollar).
Jan. 30, it was 20.20:1
Mar. 2, it was 18.80:1
Apr. 19, it was 17.70:1

Interestingly, most of the Pemex stations (at least near the border) offered the same or better exchange rates. The advantage is less confusion during purchases. The argument about national honor using Mexican money is kind of mute when you see so many locals using dollars for their purchases. Baja is really a dual currency region, at least the northern state is.

ehall - 5-18-2017 at 08:49 AM

May 12th was 18.60

Peso exchange

bajaguy - 5-18-2017 at 08:58 AM

And this morning it is 19.08

[Edited on 5-18-2017 by bajaguy]

David K - 5-18-2017 at 09:23 AM

Great... the figures I posted were the actual exchange house rate I got buying pesos, not a bank online quote. I use the money exchange booth in the Auto Zone parking lot (diagonal from Pep Boys) in Calexico, a couple blocks north of the border.

kevin_in_idaho - 5-18-2017 at 10:21 AM

Yes, buy pesos. Many camp grounds, etc. still give you a very good deal if you pay in pesos.

Bob and Susan - 5-18-2017 at 11:34 AM

Quote: Originally posted by bajaguy  
And this morning it is 19.08


I don't know where you get these rates...
today at the bank the exchange rate was 18.13
yesterday 17.9

I assume the cambios at the border are 17.5

sancho - 5-18-2017 at 04:46 PM

Wasn't very long ago, Feb. maybe, the border cambios were
21 ish. Calexico cambio, a week ago was 18.10. Found the
rate at stores, etc. in Baja at 18

Of couse you should buy pesos!

AKgringo - 5-18-2017 at 06:57 PM

Renting them just doesn't make sense!

I was packing my travel bag for my trip back north this evening, and found 7800 pesos left over from my Nov/Dec trip. I knew I had some left, but sure lost count of what was in my emergency stash!

Doug/Vamonos - 5-22-2017 at 08:58 AM

Did anyone ever determine if the withdrawal limits at mexican bank atms have been decreased and how much? Lately I've been using the atms in the parking lot of the Walmart and Home Depot in Ensenada. I usually use three atm cards and withdraw 4,000 or 5,000 pesos each if they will let me. Last month I think I remember only being able to get 3,000? It would not accept anything more. And still charged the same fee with the lesser withdrawals. Thanks.

bajaguy - 5-22-2017 at 09:06 AM

I routinely withdraw 6,000 pesos at a time from ATM's at Banorte, HSBC and Santander at the Wal-Mart Microplaza and at the Banamex ATM in COSTCO
Quote: Originally posted by Doug/Vamonos  
Did anyone ever determine if the withdrawal limits at mexican bank atms have been decreased and how much? Lately I've been using the atms in the parking lot of the Walmart and Home Depot in Ensenada. I usually use three atm cards and withdraw 4,000 or 5,000 pesos each if they will let me. Last month I think I remember only being able to get 3,000? It would not accept anything more. And still charged the same fee with the lesser withdrawals. Thanks.

Doug/Vamonos - 5-23-2017 at 05:54 AM

Thanks Bajaguy. You've done that in the past month? I had no problems in February and March but did have problems in April. Is the Microplaza the same place I'm referring to?

bajaguy - 5-23-2017 at 06:58 AM

Yup, the MicroPlaza is where the Wal Mart/Home Depot complex is located

We use two debit/ATM cards, one from our local Credit Union and one from USAA, and notify both by phone when we will be in Baja, no problems.

You might also want to try Banco Imbursa, same plaza, next to the Telcel store.

One problem might be your card(s) do not have a high enough daily US funds withdraw amount/rate vs the current peso exchange rate. Check your US daily withdraw amount with the bank or financial institution who issued your card.

Our last withdraw was April 12th of this year


Quote: Originally posted by Doug/Vamonos  
Thanks Bajaguy. You've done that in the past month? I had no problems in February and March but did have problems in April. Is the Microplaza the same place I'm referring to?

Doug/Vamonos - 5-23-2017 at 09:21 AM

Thanks a lot. My withdrawal limits are $500 on each. In fact, I call my credit union after my first withdrawal and they authorize a second. I'll give it a try again and at the other banks. And I always place the travel notice. Didn't have problems before and I noticed several posts last month about mexican banks playing with the withdrawal limits and fees.

A. T. M.

J.P. - 5-23-2017 at 02:42 PM

Every one makes money on the exchange of money. We live in Ensenada and use our Bank card at least 2 or three times a week the exchange rate is different every where you shop. It is Foolhardy to expect the people to give you the exact posted rate.
The use of American dollars is discouraged and not as popular as it was in the past. The Mexican banks have a limit on how much foreign money a merchant can deposit.
as a practice I withdraw the limit and when that is gone I withdraw more. For large purchases it sometimes takes a while to accumulate enough by drawing the maximum
amount. I do not use Mexican bank's

bajaguy - 5-23-2017 at 03:38 PM

Stay away from BBVA Bancomer
Quote: Originally posted by Doug/Vamonos  
Thanks a lot. My withdrawal limits are $500 on each. In fact, I call my credit union after my first withdrawal and they authorize a second. I'll give it a try again and at the other banks. And I always place the travel notice. Didn't have problems before and I noticed several posts last month about mexican banks playing with the withdrawal limits and fees.

SFandH - 5-23-2017 at 03:55 PM

Quote: Originally posted by bajaguy  
Stay away from BBVA Bancomer


Why do you say that? I was in BCS for 5 months this past winter and used a Bancomer ATM weekly, cards from two different US banks. Never had any problems.

woody with a view - 5-23-2017 at 04:45 PM

Worst fees this side of extortion.

AKgringo - 5-23-2017 at 04:56 PM

Last winter from Thanksgiving to just before Christmas, Bancomer ATMs in Mulege and Loreto were a crap shoot. Either they had a very low maximum withdrawal, or would not allow any at al!

They would also not accept US dollars for exchange, unless you had an account to deposit them in.

Is any of that still happening?

SFandH - 5-23-2017 at 04:58 PM

I did notice high fees with my B of A card. My other card is a Fidelity Investments card which reimburses the fee Bancomer charges.

But I didn't have any trouble using either card. At times I took out 6,000 pesos but usually less.

[Edited on 5-24-2017 by SFandH]

Alm - 5-25-2017 at 03:03 PM

Quote: Originally posted by kevin_in_idaho  
Many camp grounds, etc. still give you a very good deal if you pay in pesos.

Hasn't been my experience. Camps are gringo-oriented ventures, prices are usually posted in USD.

Some small place, "kinda camp", like a rancho where they let you park for a night, can be in pesos. Sta Inez in Catavina comes to mind. But mostly, (and in tourist-y places), prices are in USD.

You need pesos for groceries though.