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shari
Select Nomad
Posts: 13033
Registered: 3-10-2006
Location: bahia asuncion, baja sur
Member Is Offline
Mood: there is no reality except the one contained within us "Herman Hesse"
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the Dollar Dilema at banks
I tried to open a US dollar account at the Banamex a few days ago and was surprised by more dollar woes....not only do they not have dollar accounts
anymore but they dont accept ANY dollars now either depositing to your peso account or even to exchange them for pesos!!!! THAT SUCKS!!!
They blathered on about the new changes in the system to alleviate money laundering and explained the only dollar accounts are in banks in border
cities. WTF? I told them I had a BAncomer dollar account and they said ALL banks were going to be shutting down the dollar accounts. Yesterday at
Bancomer they didnt seem to know about this though.....sheesh.
This is awful for all the businesses in GN who take dollars...how the heck will they deposit them now? So be advised you wont be able to exchange
dollars for pesos anymore in GN.
We will most likely have to revise our option of paying us here at our Inn in dollars and try to get people to only bring pesos to pay with.
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meme
Senior Nomad
Posts: 756
Registered: 8-20-2003
Location: San Felipe,BC
Member Is Offline
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The Bancomer bank in San Felipe will not accept U.S Checks for deposit or dollars either. We closed our account there as we always done the check
deposits each month.It does us no good if we cannot deposit U.S checks.
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Hook
Elite Nomad
Posts: 9006
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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Shari, you are just going to have to come up with an electronic solution for customers to pay you. Any expenses for doing so, will have to be included
in your prices. Ally yourself with a bank that lets you easily access the transferred amounts.
Then, the only thing your customers have to show up with is incidental pesos for much smaller stuff like tips, "trinkets", meals and alcohol. No
carrying larger amounts of dollars and/or pesos down the peninsula.
OK, maybe alcohol is not that small of an expense................
I hate it, too, but it is the way of the future.
'Course, I dont mind what my stock investment in Paypal has done over the last 2.5 years. 
I'm not suggesting that Paypal is the answer. I dont use it enough to know. Others are far more knowledgeable about electronic pay services.
I will say I DO appreciate businesses that separate out their services into electronic and cash-only payments; giving a price break for those that
pay in case. Why should cash payers subsidize the others?
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pacsur
Nomad
Posts: 191
Registered: 8-28-2003
Location: San Jose del Cabo,BCS
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Santander and Scotia both deal with dollars in Los Cabos, I was under the impression the other banks that are not allowed to deal with dollars are the
ones that got caught up with the money laundering issue a couple of years ago?
Santander normally has a much better exchange rate and even better when you exchange online, Scotia's exchange rate always sucks, it gets a little
better if you call the manager and ask for current rates, I don't know if there is a minimum, but I usually exchange at least $1,000usd when asking
for the special rate.
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wilderone
Ultra Nomad
Posts: 3779
Registered: 2-9-2004
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You can't deposit a check for pesos?
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Hook
Elite Nomad
Posts: 9006
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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GN probably has one Bancomer and one Banamex and that's it. Her options are probably limited.
Santander is the best true bank in Mexico that I have used. That's a good one, if she can find one. But I never see them in small towns below probably
20,000 people.
[Edited on 11-23-2017 by Hook]
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BornFisher
Super Nomad
Posts: 2103
Registered: 1-11-2005
Location: K-38 Santa Martha/Encinitas
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Can`t you just accept credit cards? My last trip down I used my cc at 2 gas stations and 2 motels. These included the Pemex on the north side of
Guerrero Negro and the Terra Sol in Guerrero Negro.
"When you catch a fish, you open the door of happiness."
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CaboMagic
Super Nomad
Posts: 1103
Registered: 4-30-2005
Member Is Offline
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Shari check your email (not u2u)
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shari
Select Nomad
Posts: 13033
Registered: 3-10-2006
Location: bahia asuncion, baja sur
Member Is Offline
Mood: there is no reality except the one contained within us "Herman Hesse"
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there is only a Bancomer in Vizcaino and that is a 3 hour round trip and Guerrero Negro only has Banamex so my options are sooooo limited.
I bought a credit card terminal but found it didnt work as our internet is waaaaay tooooo slooooow and unreliable so that doesnt work either at this
time.
So I guess what we will do is stick with PayPal and just charge an extra fee for that so that people paying in pesos cash will get a lower price.
Maybe I will open a Santander account in Ensenada as I think we can make deposits at the telegraph office here....hmmm
thanks everyone for your suggestions!
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Bob and Susan
Elite Nomad
Posts: 8807
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
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what about the bank coppel has inside
I wonder of they can help you
its a good company
I was in bancomer today...they will open a dollar account today and will retain the service later
they knew about banamex
todays rate was 17.82
that means the cambios at the border are at 17.60
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Bob and Susan
Elite Nomad
Posts: 8807
Registered: 8-20-2003
Location: Mulege BCS on the BAY
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Mood: Full Time Residents
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tourists driving down should ONLY carry pesos
they should exchange the dollars at the border for pesos
and exchange the extra back when they return
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David K
Honored Nomad
Posts: 64493
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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For Calexico/Mexicali, I always use the place next to Auto Zone, across from Pep Boys, on the U.S. side a couple blocks before the border.
[Edited on 11-23-2017 by David K]
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shari
Select Nomad
Posts: 13033
Registered: 3-10-2006
Location: bahia asuncion, baja sur
Member Is Offline
Mood: there is no reality except the one contained within us "Herman Hesse"
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you are right Bob & Susan....I will look into Coppel too gracias.
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Bob and Susan
Elite Nomad
Posts: 8807
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
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coppel bank will give you a visa debit AND credit card with your account
you can use it anywhere
"what's in YOUR pocket?"
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AKgringo
Elite Nomad
Posts: 5819
Registered: 9-20-2014
Location: Anchorage, AK (no mas!)
Member Is Offline
Mood: Retireded
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Any ATM problems?
Last year at this time in both Mulege, and Loreto, I was not able to draw pesos using my US credit, or debit cards at the ATMs. No problem I thought,
I have greenbacks in reserve. They wouldn't exchange them either!
Is this going on again this year? If I am able to get my crippled car on the road soon, I will definitely be stashing more pesos somewhere in it (and
hope I remember where)!
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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Bob and Susan
Elite Nomad
Posts: 8807
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
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Quote: Originally posted by AKgringo  | Last year at this time in both Mulege, and Loreto, I was not able to draw pesos using my US credit, or debit cards at the ATMs. No problem I thought,
I have greenbacks in reserve. They wouldn't exchange them either!
Is this going on again this year? If I am able to get my crippled car on the road soon, I will definitely be stashing more pesos somewhere in it (and
hope I remember where)! |
same this year...exchange dollars for pesos...whats left exchange them back when you return
don't assume your debit card will work everytime in a Mexican ATM
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woody with a view
PITA Nomad
Posts: 15937
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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ATMs are picky about the cards being used? I've heard only 4 numbered pins and calling your bank first, but now you're saying some machines pick and
choose what cards they accept?
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Russ
Elite Nomad
Posts: 6741
Registered: 7-4-2004
Location: Punta Chivato
Member Is Offline
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What ever happened to the idea that tourist dollars are a good thing?
Bahia Concepcion where life starts...given a chance!
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Bob and Susan
Elite Nomad
Posts: 8807
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
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| Quote: Originally posted by woody with a view | | ATMs are picky about the cards being used? I've heard only 4 numbered pins and calling your bank first, but now you're saying some machines pick and
choose what cards they accept? |
that's right...it depends if the bank you use
has a contract with the Mexican bank
for the exchange rate they will use when you take out the money..
if it doesn't the card will NOT be accepted
don't assume your card will work at all atms if any
take cash on vacation
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mtgoat666
Select Nomad
Posts: 17343
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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They are. Govt just wants to stop illegal $ and transactions that avoid taxes.
Woke!
“...ask not what your country can do for you – ask what you can do for your country.” “My fellow citizens of the world: ask not what America
will do for you, but what together we can do for the freedom of man.”
Prefered gender pronoun: the royal we
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