BajaNomad

Dollar for Peso exchange in the states?

castaway$ - 6-16-2009 at 10:07 PM

Anybody have suggestions on where to exchange dollars to peso's in the states? We are in So. Oregon and we usually use B of A but the "B" seems to stand for bendover anymore. Were not heading out untill late fall but the exchange rate seems good so I thought I would take advantage and exchange 2-3K for our trip while it is at a stable and decent rate.

BajaDove - 6-17-2009 at 07:22 AM

It's been years since I was dealing with over pesos but way back when we decided we could hold pesos a year and not lose more than what the bank would give. Never tried buying them north of the border towns.

Woooosh - 6-17-2009 at 07:27 AM

CostCo

rocmoc - 6-17-2009 at 07:43 AM

Nearest International Airport.

rocmoc n AZ/Mexico

rpleger - 6-17-2009 at 07:44 AM

Woooosh is right...CostCo in Chula Vista, not far from the border...use to have the best rates...I use to buy $3000 at a time...

bajagrouper - 6-17-2009 at 08:10 AM

I would probably look in the yellow pages for money exchanges, the exchange rate is good now but if you did this last year this is the way it would have worked out:

June 2008 $3000.00 USD x 10.32 Pesos = 30,960 Pesos
Dec. 2008 $3000.00 USD x 13.41 Pesos = 40,230 Pesos

As you can see you would have had 9,270 Pesos more if you waited until you came down to Baja...I remember last year by Feb. I was getting almost 15 x 1, if anyone really knew what any currency would be at 6 months from now they would be millionaires...I usually bring a couple hundred in Pesos and go to an ATM in Ensenada...good luck

Bajajorge - 6-17-2009 at 08:15 AM

Feb 2009, Bancomer in San Felipe, 15.3 to 1. Street vendors were still working on 10-1. Life in Baja was really good!:)

losfrailes - 6-17-2009 at 10:55 AM

You might try http://www.xe.com/ucc/ and see if you can exchange it at the current exchange rate while still in Oregon.

If not, best bet is Costco in Chula Vista. You will get as good a rate as anywhere.

DENNIS - 6-17-2009 at 11:30 AM

Not a good idea to be carrying too much currency. Makes no sense with ATMs almost everywhere. Can't figure out why you would want to do that unless you're building a house and need lots of fast cash on hand.

bajajurel - 6-17-2009 at 02:32 PM

Like 10 replies before mine - go to COSTCO in Chula Vista. It's easy, fast, and parking is plentiful. Besides you can do your last minute shopping before hitting the border. 1130 Broadway, Chula Vista, California 91911

Or if you have a Schwab checking account you can use the ATM card and draw out cash for the best exchange rate and Schwab reimburses any fees or charges.

Cypress - 6-17-2009 at 02:35 PM

The way things are going the peso might be on a par or even worth more than the US dollar.:lol:

Santiago - 6-17-2009 at 03:44 PM

Warning on Chula Vista Costco: the exchange window closes for the day at 3:00pm. At least it did last year.

castaway$ - 6-17-2009 at 06:48 PM

We have used costco many times but we wanted to trade the dollars now in case the exchange rate changes. Dennis I have used the ATM's but they don't dispense very much and we like to hang out in smaller remote places, plus they charge a $2-3 fee each time I use one. Losfrailes I checked the website but they are only offering 11.7 - 1 per the quote I got. Thanks all for the input.

gpm414 - 6-19-2009 at 07:59 AM

We are Oregon B of A customers and use our atm card in Baja all winter for cash. Santander Bank is associated with B of A and there are no fees for cash withdrawals from your US account. The rate always seems to be the daily posted rate, which is the best you can get. The only thing we do is call B of A before leaving the US to let them know we will be in Baja Mexico making cash withdrawals from our account for a certain time. It avoids B of A thinking someone is using your card out of the county and putting a lock on your account.

Lastly, we always try to use the atm in the bank during banking hours, which has always been secure. If the machine malfunctions you can usually get help immediately. Yes, we do also stop at Costco on the way south for traveling cash. Have a great trip.

[Edited on 6-19-2009 by gpm414]

lizard lips - 6-19-2009 at 08:09 AM

My wife has a B of A account and she takes pesos from the atm at Sandtander bank with no international charge. You may consider this as an option. They give the the current rate of exchange which is great. My bank is not affiliated with any bank in Mexico and I get screwed every time I take pesos out sometimes to the tune of $11.00 per transaction.

lizard lips - 6-19-2009 at 08:12 AM

Quote:
Originally posted by gpm414
We are Oregon B of A customers and use our atm card in Baja all winter for cash. Santander Bank is associated with B of A and there are no fees for cash withdrawals from your US account. Have a great trip.

[Edited on 6-19-2009 by gpm414]


Looks like GPM beat me to it but excellent info. any way

Bajajorge - 6-19-2009 at 08:24 AM

PEMEX stations in some places short you on your purchase and rig their pumps.:fire: I wouldn't use their ATMs with your debit card. The only ATMs I use is in bank lobbies. My BofA card charges $11 per transaction,:no: my Credit Union card charges me nothing.:yes:

bajaguy - 6-19-2009 at 08:54 AM

Hey, George.....which Credit Union????

MitchMan - 6-19-2009 at 10:15 AM

Want to get screwed on foreign currency exchange? Go to Europe.

Just got back from Italy for three weeks. Aside from not having any drinking fountains anywhere and thereby forcing you to pay $1.80 USD for 12 ounces of bottled water, charging you $2.00 to use a public toilette while out and about, and most of the restaurants not providing free tap water to drink but instead charging at least $3.00 USD for bottled water plus a cover charge per person of $3.00 + 10% service charge on the amount of the food bill, getting $250 euros (equivalent to $350 USD) from the ATM costs a small exchange rate differential hit + $3.00 USD bank Charge + $5.00 USD Transaction charge. The aiport money changer charges a 25% commission on changing $100 Euros to USD.

We common people just keep getting financially raped at every turn.

Von - 6-19-2009 at 10:32 AM

Ive always noticed how well i get screwed at the gas pump every time i give them dollars.......lol...

pacside - 6-19-2009 at 10:44 AM

Quote:
Originally posted by MitchMan
Want to get screwed on foreign currency exchange? Go to Europe.

Just got back from Italy for three weeks. Aside from not having any drinking fountains anywhere and thereby forcing you to pay $1.80 USD for 12 ounces of bottled water, charging you $2.00 to use a public toilette while out and about, and most of the restaurants not providing free tap water to drink but instead charging at least $3.00 USD for bottled water plus a cover charge per person of $3.00 + 10% service charge on the amount of the food bill, getting $250 euros (equivalent to $350 USD) from the ATM costs a small exchange rate differential hit + $3.00 USD bank Charge + $5.00 USD Transaction charge. The aiport money changer charges a 25% commission on changing $100 Euros to USD.

We common people just keep getting financially raped at every turn.


Can't stand paying for bottled water other than the cases one can get at costco if needed.

I was appalled at my Mastercard statement and Bank Statement at how many extraneous charges were on there for purchasing with the mc and withdrawing cash at an atm with my bank atm card while in baja.

I spent time on the phone with each company and nicely asked if they would credit those fees. MC credited over $200 worth and my bank credited all the ATM fees. It wasn't easy but I was persistent, pleasant and calmly said I will transfer my business elsewhere should they not credit these fees. In the end I got my bank to agree to not charge fees in the future. MC I will just not use as much.

pacside

Fred-o - 6-19-2009 at 02:28 PM

One more bank you can use in Baja that will accept your B of A card with NO FEES. (Love your "Bendover" part of B of A) Ain't it the truth?
SCOTIABANK
Two in Ensenada; one right on Hwy 1 near Wal-Mart. The other is downtown. There is also one in La Paz, but I'm not sure of others.

I usually use the Santander machines like everyone else. No rip-off fees, and there are quite a few of them.

The Gull - 6-19-2009 at 11:09 PM

Quote:
Originally posted by MitchMan
Want to get screwed on foreign currency exchange? Go to Europe.

Just got back from Italy for three weeks. Aside from not having any drinking fountains anywhere and thereby forcing you to pay $1.80 USD for 12 ounces of bottled water, charging you $2.00 to use a public toilette while out and about, and most of the restaurants not providing free tap water to drink but instead charging at least $3.00 USD for bottled water plus a cover charge per person of $3.00 + 10% service charge on the amount of the food bill, getting $250 euros (equivalent to $350 USD) from the ATM costs a small exchange rate differential hit + $3.00 USD bank Charge + $5.00 USD Transaction charge. The aiport money changer charges a 25% commission on changing $100 Euros to USD.

We common people just keep getting financially raped at every turn.


Just got back from a month touring the Med. I could not have said it better. Eurotrash ripoffs everywhere. $2 Euros to use a public pee station - equivalent to $3. Beer was cheaper, but to dischagre it you doubled the cost of consumption. Fees for sidewalk cafes tables. Insulting and non-existent service.

Nobody should b-tch about Baja, unless they have not been to Portugal, Spain, Italy, Croatia, Greece, and Slav countries, because you ain't been ripped off until you go there.

Dollar rate officially posted at 1.42 to the Euro and the bandits at the exchange places were figuring 1.58 dollars to make a Euro and had a $6.50 processing charge. Naturally, I avoided them and used ATM's with Chase card and frequently avoided fees on both sides of the ocean.

If the decision is paper or plastic, when out of the US, the answer is plastic.

karenintx - 6-20-2009 at 12:55 PM

Thursday June 18th we used our BOA/ATM card @ Santander Bank...no fee and the pesos rate was 13.46!

We only use our Capital One c/c when traveling international...never a international converstion fees either.

As far as the original question...you can do as "rocmoc" suggested however there will be a fee charged when using the airport money exchange companies. If you know any airline or airport employee they can use their airport ID and not be charged the fee!

fishingmako - 6-22-2009 at 08:59 PM

If you have a BofA account in the States there is no ATM charge at Santander, they are a affiliate.
Remember getting Pesos is great and to buy things, especially fuel, and many other things, but everyone thinks you are getting this great deal with the floating of the Peso, they are on top of this hourly, It changes to keep up with the dollar, so people don't think you are going to come to Mexico and save 30%, this is a misconcept It's not going to happen.

one US dollar is approx 1300 Pesos, so where did you make out?

Bob and Susan - 6-23-2009 at 06:15 AM

the prices here are in pesos
NOT in dollars

so...

if you get 300 extra pesos from last time when it was 10x1 then you save 30%

it takes awhile for the prices here to go up

and...

gas is kinda fixed
so is milk
beer
etc

fishingmako - 6-23-2009 at 06:25 PM

I realize here in Mexico are in Pesos not dollars, how many people bought thousands of dollars in Pesos and stashed them in the mattress, It hasn't been 10x1 for a long time, all I'm saying the price don't hve to change on the individual item, they change the price at the register, they will change it for what is happening at that moment, so all in all you don't make out ,only on Propane, water, sometimes Fuel, restaurants etc. they are not stupid believe me.

Bob and Susan - 6-23-2009 at 07:34 PM

july 1st 2008..

the exchange rate was 10.4 to the dollar

that wasn't too long ago

karenintx - 6-24-2009 at 07:03 AM

March '09 had a 52 week high of 15.60...cashed in a couple of grand and also called Tel-Mex USA to pay "mucho credit" toward our account.
That's 50%...just wish we had done more.