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JoeJustJoe
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Lets reverse this dollar dilema at banks and see how it sounds.
The Peso Dilema at banks.
Lets pretend it's from a Mexican ex-pat visiting an American bank in the US.
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I tried to open a peso account at the Bank America a few days ago and was surprised by more peso woes....not only do they not have peso accounts
anymore but they don't accept ANY pesos now either depositing to your dollar account or even to exchange them for dollars!!!! THAT SUCKS!!!
Blah blah blah...........
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It seems to me that Americans banks wouldn't bend over backwards serving Americans with dollar/peso issues, and Mexico does have a money laundering
problems.
I'm sure there are places that will exchange dollars for pesos, although it will cost more.
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shari
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Posts: 13033
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Location: bahia asuncion, baja sur
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Mood: there is no reality except the one contained within us "Herman Hesse"
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Oh my....I never thought of it that way....good point. I want to say that tourism depends on dollars but I bet in border areas pesos are prevalent too
and people would like the banks to take them.
Seems like we all need to begin to change the way we think and travel especially in other countries....crossing the border or before....get a crapload
of pesos!
but how does this help with my dollar dilema? I have credit cards with Bancomer & BAnamex.
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surabi
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Quote: Originally posted by Hook  | 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] |
Would have to disagree re Santander. My daughter had to open an account with them, as the international school she was working for used Santander and
that was where her salary was deposited.
When she asked the bank how she could transfer $ from her account here to her Canadian bank, they told her it wasn't possible. And there were so many
convolutions for her to get the money from Santander to her Paypal acct, that she just gave up.
She HATED dealing with Santander and they certainly didin't operate like a "best true bank".
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joerover
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Registered: 2-3-2011
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Mood: sleepy
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How easy do you want it to be to transfer your money?
| Quote: Originally posted by surabi |
When she asked the bank how she could transfer $ from her account here to her Canadian bank, they told her it wasn't possible. And there were so many
convolutions for her to get the money from Santander to her Paypal acct, that she just gave up.
She HATED dealing with Santander and they certainly didin't operate like a "best true bank". |
In Ensenada I found an external device on the atm machine, a card reader that belonged to an electronic bandido. I pointed it out to the police man
standing on the malecon. He did not care or understand. The bandido followed me around the corner and asked what the policeman said? He dont care.
They made the paper, good heist over a holiday weekend. Both Ensenada and Tijuana police have been caught recording credit
card numbers, and making bank transfers to them. A nice girl in Tijuana will help you figure out your paypal and on line banking. She types english
better than I do. She will transfer $500 to your paypál acount if you give her $250 right now. not sure why her account name is blueeyes, hers are
brown. She made a $500 a week living for 3 or more years like this. The deported english teacher was working for the Ensenada police, making
electronic transfers of your money to the police mans bank account. That is until the Tecate pólice shot him, for growing to many hecters of
marijuana to close to their 300 acre field.
How easy do you want it to be to transfer your money?
the fat lady is breeding
which means
The fat ladys are breeding
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Paco Facullo
Super Nomad
Posts: 1301
Registered: 1-21-2017
Location: Here now
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Mood: Abiding ..........
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I refuse to link my bank account with PayPal.
The guy that bought my business had his account linked and ended up getting robbed fro $7,000 . He tried to get it back but never did.
Be careful out the folks.
Also, many years ago I lost $1650 from and ATM card skimmer in Colombia.
I stupidly used a lone standing ATM machine. Never again.
Will ONLY use ATM's at Banks or ones much used at muskets.
I always PULL on the place your card is inserted hard and hide my hand when putting in my pin.
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JoeJustJoe
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| Quote: Originally posted by joerover | | Quote: Originally posted by surabi |
When she asked the bank how she could transfer $ from her account here to her Canadian bank, they told her it wasn't possible. And there were so many
convolutions for her to get the money from Santander to her Paypal acct, that she just gave up.
She HATED dealing with Santander and they certainly didin't operate like a "best true bank". |
In Ensenada I found an external device on the atm machine, a card reader that belonged to an electronic bandido. I pointed it out to the police man
standing on the malecon. He did not care or understand. The bandido followed me around the corner and asked what the policeman said? He dont care.
They made the paper, good heist over a holiday weekend. Both Ensenada and Tijuana police have been caught recording credit
card numbers, and making bank transfers to them. A nice girl in Tijuana will help you figure out your paypal and on line banking. She types english
better than I do. She will transfer $500 to your paypál acount if you give her $250 right now. not sure why her account name is blueeyes, hers are
brown. She made a $500 a week living for 3 or more years like this. The deported english teacher was working for the Ensenada police, making
electronic transfers of your money to the police mans bank account. That is until the Tecate pólice shot him, for growing to many hecters of
marijuana to close to their 300 acre field.
How easy do you want it to be to transfer your money? |
Have you been drinking?
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Paco Facullo
Super Nomad
Posts: 1301
Registered: 1-21-2017
Location: Here now
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Mood: Abiding ..........
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| Quote: Originally posted by Paco Facullo | I refuse to link my bank account with PayPal.
The guy that bought my business had his account linked and ended up getting robbed fro $7,000 . He tried to get it back but never did.
Be careful out the folks.
Also, many years ago I lost $1650 from and ATM card skimmer in Colombia.
I stupidly used a lone standing ATM machine. Never again.
Will ONLY use ATM's at Banks or ones much used at markets.
I always PULL on the place your card is inserted hard and hide my hand when putting in my pin. |
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
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| Quote: Originally posted by shari | 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! |
I would have thought that you would have gone to EXEDE by now. That is what a couple of businesses and the coop here have done so they can process
debit and CC transactions. From what I understand it will be a while before there are any upgrades along the coast. Hell we can not get any new
phone or internet service and the existing service is all but unusable during the day.
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BajaBlanca
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Location: La Bocana, BCS
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Shari
It is possible to deposit to Santander from telegrafo.
Your dilemma is real. We are lucky as our US bank now allows us to transfer US$1500 at a time here to our local telegrafo. It becomes available within
the hour and only costs $5 dollars. Muy bueno es wells fargo.
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surabi
Ultra Nomad
Posts: 3164
Registered: 5-6-2016
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"How easy do you want it to be to transfer your money?"
Any "real " bank should be capable of transferring $ to any other real bank without it disappearing.
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shari
Select Nomad
Posts: 13033
Registered: 3-10-2006
Location: bahia asuncion, baja sur
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Mood: there is no reality except the one contained within us "Herman Hesse"
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things would indeed be easier if I had an American bank account but I"m Canadian! I looked into Xoom and it charges 20%!!! that dog dont hunt!
So I asked at our telegraph office which is sort of like a bank as it has a card swiper and you can get money out of your Mexican account. They said
the easiest bank to deal with is Santander and I can make deposits there at the telegraph office which means not having to drive to Vizcaino.
About Excede...I am indeed waiting as I heard that the guy in Vizcaino who puts up towers to provide fast internet like to Pta.Chivato....he is
getting a land deal done to put the tower up for here so I will wait for that which sounds better than Excede.
Then I can have a point of sale App to take credit cards!!!
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
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| Quote: Originally posted by shari | things would indeed be easier if I had an American bank account but I"m Canadian! I looked into Xoom and it charges 20%!!! that dog dont hunt!
So I asked at our telegraph office which is sort of like a bank as it has a card swiper and you can get money out of your Mexican account. They said
the easiest bank to deal with is Santander and I can make deposits there at the telegraph office which means not having to drive to Vizcaino.
About Excede...I am indeed waiting as I heard that the guy in Vizcaino who puts up towers to provide fast internet like to Pta.Chivato....he is
getting a land deal done to put the tower up for here so I will wait for that which sounds better than Excede.
Then I can have a point of sale App to take credit cards!!! |
Shari. What is his source for the internet going to be? In Vizcaino (and other places) he uses Telnet, which is fast because they have fiber. We
did the same thing in Abreojos using EXEDE for a while (I brought the equipment down from the states for 6 users). Worked OK, but most of us decided
to get our own because we were many times competing for download speed and were dependent on having the availability of an unlimited bandwidth
account. Good Luck.
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Hook
Elite Nomad
Posts: 9006
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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| Quote: Originally posted by JoeJustJoe | Lets reverse this dollar dilema at banks and see how it sounds.
The Peso Dilema at banks.
Lets pretend it's from a Mexican ex-pat visiting an American bank in the US.
______
I tried to open a peso account at the Bank America a few days ago and was surprised by more peso woes....not only do they not have peso accounts
anymore but they don't accept ANY pesos now either depositing to your dollar account or even to exchange them for dollars!!!! THAT SUCKS!!!
Blah blah blah...........
_____________
It seems to me that Americans banks wouldn't bend over backwards serving Americans with dollar/peso issues, and Mexico does have a money laundering
problems.
I'm sure there are places that will exchange dollars for pesos, although it will cost more.
|
Of course, what renders your comparison scenario ridiculous (as usual) is that US banks have virtually NEVER accepted pesos for deposit, while it has
been commonplace for Mexican banks to accept dollars for many years, until recently.
'Course, I guess that just doesnt have the anti-American appeal that YOU seem to always need............
JJJ, I hope for your sake that your credit score is higher than your credibility score around here.
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mjs
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Posts: 305
Registered: 2-20-2013
Location: Off grid in San Felipe
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| Quote: Originally posted by shari | things would indeed be easier if I had an American bank account but I"m Canadian! I looked into Xoom and it charges 20%!!! that dog dont hunt!
So I asked at our telegraph office which is sort of like a bank as it has a card swiper and you can get money out of your Mexican account. They said
the easiest bank to deal with is Santander and I can make deposits there at the telegraph office which means not having to drive to Vizcaino.
About Excede...I am indeed waiting as I heard that the guy in Vizcaino who puts up towers to provide fast internet like to Pta.Chivato....he is
getting a land deal done to put the tower up for here so I will wait for that which sounds better than Excede.
Then I can have a point of sale App to take credit cards!!! |
Shari,
You should be able to get a U.S. bank account. I helped some British friends to get one at Chase. The bank just wanted to see a copy of a lease or
some other document to show a US residency address. Their British DL and lack of a SS number were not an issue. Just like an American or Canadian can
have a second home in Mexico so can a foreigner have a residence in the U.S.
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aguachico
Senior Nomad
Posts: 602
Registered: 3-23-2007
Location: tijuana
Member Is Offline
Mood: logic cannot get thru to the illogical
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Depositing dollars into banamex or bancomer in Tjuana was no bargain the last time I tried. The rate was the worse in the city.
I would think a Mexican business should have flat rates in pesos, period.
If visitors have only dollars, then they should take the hit of the exchange rate since they were too lazy to buy pesos. My first visit to BA, I was
short of pesos - thank god for paypal.
Good luck with the CC POS. This way you could bill in advance reservations.
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JZ
Elite Nomad
Posts: 9271
Registered: 10-3-2003
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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)! |
If you use WF you can pretty much use it anywhere to take out money, except Bancomer.
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Marc
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Posts: 2747
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Location: San Francisco & Palm Springs
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I don't live SOB so fortunately I have no use for banks or ATM machines. What I do is before going down I figure a budget as close as I can and then
double it. I buy pesos either in San Francisco or Palm Springs at Wells Fargo. I don't care what they charge. A lesson I learned years ago. I ran out
of cash in New Guinea and had to borrow to get back. A good story I should share on non Baja trip reports some day.
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Udo
Elite Nomad
Posts: 6324
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Location: Black Hills, SD/Ensenada/San Felipe
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I have a CITIBANK debit card. It is affiliated with BANAMEX.
The exchange rate it gives when I withdraw Pesos is within 5% of the daily currency exchange. The only drawback with Banamex is that I am subject to
THEIR withdrawal limit which is no more than $5000,00 Pesos per transaction. So I generally take more than $5000 Pesos at a time. At times I
have to make 5 withdrawals to obtain the money I need.
It really is not a good idea to try to make do with just Dollars. the merchants give you the screw-over by adjusting their Peso rates to as low as 15
per dollar. Nothing anyone can do about the transaction rate from them. Arguing does no good...they hold all the cards if you are trying to pay in
USD.
[Edited on 11-25-2017 by Udo]
Udo
Youth is wasted on the young!
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Hook
Elite Nomad
Posts: 9006
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Location: Sonora
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Mood: Inquisitive
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If the banks begin refusing to take dollars, the businesses away from the border can't be far behind.
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motoged
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Aside from ATM, CC, and account issues, it seems that the simplest solution is for travelers to travel with sufficient funds in the currency of the
country in which they are traveling 
Expats living abroad need to figure out the rest of it for their needs.
I think it is selfish and a bit arrogant to expect their own national currency to be readily accepted abroad for food, rooms, etc.
A "When in Rome" kinda thing...
Don't believe everything you think....
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