BajaNomad

Peso problem

okiegumbo - 1-12-2019 at 12:14 PM

My bank (WF) called me today. They said that the pesos I sold back to them last November were no longer in circulation. They wanted me to voluntarily pay $92 to cover their loss. I declined, not my mistake, not my problem. I paid for gas and dinner in Ensenada and received the bills as change.

Should I be more vigilent in the future while in Mexico?

TMW - 1-12-2019 at 12:59 PM

No just let them deal with it.

weebray - 1-12-2019 at 01:01 PM

I assume they gave you nuevo pesos? BTW the peso is headed up in a big way the last week or so.

[Edited on 1-12-2019 by weebray]

Alm - 1-12-2019 at 03:45 PM

I have not heard that some pesos were taken out of circulation recently. Is there any proof of this? (at least, a link to well known source)

mtgoat666 - 1-12-2019 at 03:54 PM

Quote: Originally posted by okiegumbo  
My bank (WF) called me today. They said that the pesos I sold back to them last November were no longer in circulation. They wanted me to voluntarily pay $92 to cover their loss. I declined, not my mistake, not my problem. I paid for gas and dinner in Ensenada and received the bills as change.

Should I be more vigilent in the future while in Mexico?


You gave the bank bad money, so your fault, you owe the bank.

Based on your experience, yes, you should be vigilant about being given bad money at the particular establishments you visited.

bajaguy - 1-12-2019 at 04:00 PM

My questions are where did you eat in Ensenada and where did you get fuel??
Quote: Originally posted by mtgoat666  
Quote: Originally posted by okiegumbo  
My bank (WF) called me today. They said that the pesos I sold back to them last November were no longer in circulation. They wanted me to voluntarily pay $92 to cover their loss. I declined, not my mistake, not my problem. I paid for gas and dinner in Ensenada and received the bills as change.

Should I be more vigilent in the future while in Mexico?


You gave the bank bad money, so your fault, you owe the bank.

Based on your experience, yes, you should be vigilant about being given bad money at the particular establishments you visited.

basautter - 1-12-2019 at 04:05 PM

Can someone please explain which pesos are no longer in circulation? Pictures would be nice. Thanks in advance! :?:

AKgringo - 1-12-2019 at 04:09 PM

It sounds like a crooked business owner, or more likely a rouge employee, slipped a few pre-1993 pesos into the change given!.

At the time of changing to the "new peso", 1000 old pesos was equal to one new one!

It sure would be nice to know which pemex or resturant that happened at.


[Edited on 1-12-2019 by AKgringo]

okiegumbo - 1-12-2019 at 04:43 PM

Goat:

I did not give the bank "bad money." Bank said it was not counterfit, it was just no longer in circulation. It is entirely possible I received the pesos when I purchased them from my bank. Note, I also said the bank asked to be reimbursed voluntarily. I have no way of knowing which establishment may have given me obsolete currency. I would not want to wrongly accuse someone. Perhaps you would be kind enough to elighten us all on how to identify a questionable note.

Not a realistic request

thebajarunner - 1-12-2019 at 04:48 PM

Quote: Originally posted by okiegumbo  
Goat:

I did not give the bank "bad money." Bank said it was not counterfit, it was just no longer in circulation. It is entirely possible I received the pesos when I purchased them from my bank. Note, I also said the bank asked to be reimbursed voluntarily. I have no way of knowing which establishment may have given me obsolete currency. I would not want to wrongly accuse someone. Perhaps you would be kind enough to elighten us all on how to identify a questionable note.


You have asked the Goat for a positive piece of input
The Goat only does negative
Better luck next time

Alm - 1-12-2019 at 05:01 PM

Quote: Originally posted by basautter  
Can someone please explain which pesos are no longer in circulation?

Since nobody was able to answer this (also mine) question, here it is:

http://www.anterior.banxico.org.mx/billetes-y-monedas/servic...

Only first 2 types are no longer in circulation: AA and A.

It's Just One of Those Things

MrBillM - 1-12-2019 at 05:24 PM

Someone likely found a few old peso notes (I still have some 1K bills) and decided to pass them on to the unsuspecting tourist. Given that they've been out of circulation for 23 years now and all but an insignificant few would have been turned in while they still had some value, one wouldn't expect it to be a recurring event.

Here's another link:

https://en.wikipedia.org/wiki/Mexican_peso

TMW - 1-12-2019 at 07:35 PM

I didn't know there were 1,5 and 10 peso paper money. As far as I can recall they were always coins.

defrag4 - 1-12-2019 at 11:29 PM

bank error in your favor, collect $92, proceed directly to taco stand

Bubba - 1-13-2019 at 04:37 AM

Quote: Originally posted by defrag4  
bank error in your favor, collect $92, proceed directly to taco stand


Winner!

pacificobob - 1-13-2019 at 07:24 AM

in many developing countries especially ones with a lot of worn/tattered notes in circulation, it is a common practice to pass out the undesired notes as change to travelers/outsiders.

Santiago - 1-13-2019 at 07:34 AM

OkieGumbo:
In my view you have made a few critical errors:
1. You bank with Wells Fargo. 'nuf said.
2. The fees you give said bank for buying and then selling back unused pesos are outrageously high.
3. You ended a vacation with unused pesos. You're either driving very carefully or not having enough fun. Save unused pesos for next entry into Baja so youse can get that first taco and pay your Visa fee before getting to bank. There are safe and mostly reliable ATMs at major migration points anymore.


All of this can be avoided by stopping at the first bank-owned ATM and get the max amount of pesos, normally around $5-7k. Stop at the next one and do likewise (may need to be the next day if you have a daily limit on your card). Now you have enough cash for two people to have a pretty nice week's vacation.
By the way, I've eaten a lot of gumbo, what's "Okie Gumbo"?

chippy - 1-13-2019 at 07:53 AM

Was it the changing of the 500 peso notes to the new blue ones with whales on it?

https://www.google.com/search?q=new+500+peso+bill+mexico&...



[Edited on 1-13-2019 by chippy]

BajaMama - 1-13-2019 at 08:47 AM

You are trying to pass on your bad of erroneously accepting old pesos to your bank. YOU should have known they were old. A bank teller who has never been to Mexico would have no idea. I say shame on you for not taking personal responsibility.

JoeJustJoe - 1-13-2019 at 08:56 AM

It sounds like a scam, but if it actually was Well Fargo, and you gave them bad pesos.

You should go down and run to Wells Fargo, and made good on those bad pesos because if you don't.

You could see Wells Fargo, employees, opening up accounts in your name, that will charge you high fees. Maybe, they will open an auto policy in your name, and take more money from you like they did to thousands of customers.

However, if you want to fight Wells Fargo, you should write Senator, Elizabeth Warren, who once had Well Fargo's, CEO on the hot seat, and she just destroyed him. A few weeks later he resigned.

Put on Boots

MrBillM - 1-13-2019 at 10:55 AM

As usual, the Scheisse is getting deep.

And will get deeper.