Our first few trips to Baja we didn't exchange our money for pesos which we felt created some confusion when paying. Now we always exchange our money
it just seems to make things simple after all thats why we go to Baja. We have tried a couple of different venues for exchanging our dollars- Costco
in S.D., and more recently Bank of America. Each seems to have their shortcomings, costco allows the exchange up to $999 then the paperwork begins, B
of A is limitless however their fee seems to be a little steep. In either case I don't know if I am exploiting the exchange rate to its maximum. Any
thoughts on better places to exchange and if I should be exchanging?Sunman - 12-4-2007 at 09:41 AM
ATMbajaguy - 12-4-2007 at 09:42 AM
I agree....ATMDianaT - 12-4-2007 at 09:47 AM
We always start out with Pesos from Costco in Chula Vista---decent rate.
Then we use ATMs---but from our home there, it is a long 70 miles to the ATM so we take out quite a bit at one time.
One warning, because we take out so much at one time on both our ATM cards, the bank put out a fraud alert and tried to call us---of course, we were
not home. So, we now have the bank informed that we spend lots of time in Mexico.
Also, if you plan on using a Visa or Master Card, be sure to call them before you leave. We have had our shut down after using them in Encenada----a
phone call fixed the problem, but it is easier to call before you leave.
Dianecastaway$ - 12-4-2007 at 09:51 AM
Do you also think peso's should be used instead of dollars?rhintransit - 12-4-2007 at 09:52 AM
absolutelyNatalie Ann - 12-4-2007 at 09:58 AM
If you have any kind of account with B of A, there is no fee for money exchange in the US bank. You do not need to have money in the account... one
of their no-fee credit card accounts is sufficient.
Nena
Always
bajaguy - 12-4-2007 at 09:58 AM
use pesos and always notify your bank!!!CaboRon - 12-4-2007 at 10:06 AM
Quote:
Originally posted by castaway$
Do you also think peso's should be used instead of dollars?
Yes,
Pesos from the ATM is your best deal.
CaboRonbajajudy - 12-4-2007 at 12:05 PM
The best place here in Los Cabos is American Express. And I agree, pesos make everything easier.gpm414 - 12-4-2007 at 12:16 PM
If you have a Bank of America debit card, there is no service fee at Santander Serfin banks in Mexico. However if you use your B of A card at any
other Mexican bank there will be a $5 fee for each transaction. This has worked great for us the past several years.Fred - 12-4-2007 at 03:26 PM
If the peso is under 10 I use dollars. If over I buy pesos. Always buy a few at the bank in Tecate, then like the others I use ATM.mojo_norte - 12-4-2007 at 07:02 PM
Why not change dollars at Baja Banks when possible?!
ATM's are convenient but..Lots of theft using ATM machines - ie: you use the machine down in Baja and return and you account has been cleaned out.-
especially happening down South - La Paz- Los Barilles.
Always be aware.. - Use bank machines - inside a bank...does the machine look normal? Suspicious characters lurking..
If possible..
Check your balance daily.
Change your PIN often..
This goes for Credit Card use..shari - 12-4-2007 at 07:42 PM
Lots of people here actually PREFER if you pay in dollars..that way, they can use them when they go stateside or save em up for when the exchange rate
is higher...most businesses here give 10 pesos to the dollar except the Miramar market gives 10.50 and even 10.70 if its over 10.80 at the
bank....some businesses will match that rate if you tell them you are going to change it there...like the hardware store...they ask..."What do they
give you at MIramar?"fishbuck - 12-4-2007 at 09:52 PM
I prefer Pesos. Most places give a 10/1 on dollars. So you always feel a little ripped off if the exchange is higher. It's not much. Like 1 dollar on
a $20. But it doesn't feel good.
I got pesos at the ATM in SQ and it was $5 from my US bank and another $1.50 from the MX bank. So it evens out anyway.shari - 12-5-2007 at 02:30 PM
MIght not feel good to you...but the local Mexicans sure feel good! Do a mexican a favor...pay him in dollars...it's like getting a tip! and try to
feel good about helping them out. But most likely he will go to the same store and spend it at the same low rate you got.Barry A. - 12-5-2007 at 02:45 PM
Anybody figured out how to avoid the 1 to 3% "fee" charged by Master Card, and other credit card companies for "foreign transactions"?
I haven't, except my USAA Master Card DOES only charge the imposed MC fee of 1%.jeffg - 12-5-2007 at 04:22 PM
Capital One, no foreign transaction fee. 0
Quote:
Originally posted by Barry A.
Anybody figured out how to avoid the 1 to 3% "fee" charged by Master Card, and other credit card companies for "foreign transactions"?
I haven't, except my USAA Master Card DOES only charge the imposed MC fee of 1%.
