flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
Member Is Offline
Mood: gone fishin'
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Loreto / No hay feria (No Change)
I was just informed by our one and only bank, Bancomer, that they will no longer make change. Shopowners now canNOT bring in a large bill (dollars or
even pesos) and receive smaller denominations in bills or monedas (change) in exchange for it.
I found this out when I sent an employee to make change at the bank, something I've done for years.
We'll now have to write a check and ask for small bills/change, then deposit the large bill/s. Problem solved, but a pain in the a$$.
OK if you have an account, but lots of small mom and pop shops do not have this luxury. They live hand to mouth.
Last year I sent my secretary to change a couple hundred dollars cash into Mex pesos. She was sent away and told me that she had to have an ID and an
account with them. I solved that problem by sending her to do the same with a photocopy of my passport and my account numbers written on it. Now for
the last few times they just gave it back to her and made the exchange. So I;ve been using the same copy.
Completely unfair to those who don't have an account with this bank. I knew it before it happened that I'd see what you can see all over town,
"Cambio Dolares" in store windows. Now folks with US dollars can change them into Mex pesos at any of these stores that will "Buy Dollars". Of
course the exchange rate will be in the favor of the shop owner.
Well, I will spare you further commentary, but please understand that your shopkeepers in Loreto may have technical difficulties making change, so
please bring small bills!
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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Pam we have the same problems with both of the Banks in Santa Rosalia. and of course we don't have a bank in Mulege. these banks don't care much for
there customers and even less for the poor traveler that happens to come here.
Keep up the good work down there Pam I get all good comments about your service from my customers. I recommend you for any of my customers that are
going to Loreto to fish.
Bruce R Leech
Ensenada
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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banks
perhaps the new loreto bay village with its conection to fonature can put a little pressure on the banks services in loreto?? have a good one. jerry
jerry and judi
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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yes an authentic Mexican Bank. that is what we need
Bruce R Leech
Ensenada
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
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| Quote: | Originally posted by flyfishinPam
OK if you have an account, but lots of small mom and pop shops do not have this luxury. They live hand to mouth.
...please understand that your shopkeepers in Loreto may have technical difficulties making change, so please bring small bills! |
They live hand to mouth...most below the law.
Ask yourself this:
Why would a business not have a bank account?
My business is located the same distance from a bank as most others yet local business owners and their customers constantly come to me for change.
Even prosperous shops located near banks don't carry change.
Banks are well within their rights to limit services only to their customers.
Technical difficulties my a**.
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tehag
Super Nomad
Posts: 1248
Registered: 1-8-2005
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change
Bancomer now has an ATM in Loreto. It works great but gives mostly 500P bills. These are most difficult to change in the local businesses.
Gas stations, Pescador Mkt, ISSTE Tienda are good bets for change most days. Only with purchase, of course.
Sigh, still beats the old days of 2 hours in line at the teller window only to be told when your turn finally comes that they are out of cash.
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
Member Is Offline
Mood: gone fishin'
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Dave we'll have to agree to disagree..
Loreto has only one bank because this bank has likely paid for its privlidge of being the only bank here. Now this is a tourist town and 100% of this
town's economy is based on tourism. If the bank should refuse all but its customers then how would tourists cash traveler's checks, exchange currency
or get any other service that is needed? Its nice that we finally have ATM's in town and one person pointed out that they dispense almost exclusively
$500 peso bills. How does one get change for that?
I agree that businesses should have accounts, but the fact is that most little businesses and pequena contribuyentes do not have an account. These
people are the ones that will suffer the brunt of these stupid politics.
I would welcome an authentic Mexican bank in the new authentic Mexican village being built by the Canadians but the new bank will probably be full of
looneys that are not widely accepted here.
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
Member Is Offline
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| Quote: | Originally posted by flyfishinPam
If the bank should refuse all but its customers then how would tourists cash traveler's checks, exchange currency or get any other service that is
needed? |
You're telling me that the bank is refusing tourist business? Even for a fee? That's just plain stupid.
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