BajaNomad

La Paz - peso/dollar exchange?

BajaNomad - 1-1-2013 at 10:59 PM

So, let's just say one is in La Paz, and they find that they didn't exchange enough USA dollars for MX pesos.....

Where in La Paz would there be the best exchange rate to get more pesos - again, assuming USA cash in hand, and preferring to not pull pesos through an ATM.

And if the best place is a bank.... what would the second-best option be then?


:biggrin:

David K - 1-1-2013 at 11:29 PM

How about a big super market Doug?

gnukid - 1-2-2013 at 06:58 AM

it's true big stores give great excange rates such as chedraui but they may only accept bills up to $100 over the cost of the sale. So one can only get change for about $1200 pesos. This is likley the best option if you have cash you must use.

Simply make a series of purchases for small items using $100 dollars bills. If you only have twenty dollar bills this system won't work. On the other hand most stores do take dollars they just don't provide more than 12:1 so you are losing a fare percentage of about 5%-75 which isn't too bad.

The best option I have found is to use the ATM at Santendar if you have BOA, in any case ATMs such Banorte, Bancomer and Santendar give a high exchange rate and you deduct from your bank account. Get up to 6000 pesos. There may be a $5 intl fee so its best to take the largest amount possible per transaction to reduce the number of transactions required.

A less optimum choice is a cambio in el centro on the street back from the malecon next to the Callejon which is a promenade with restaurants next to Perla. There you will get an exchange rate less far than the best but they will exchange some amount, so will banks such as Santendar on most occasions but you need to bring your passport and perhaps a copy of it too and they may feel restricted to the amount.

Marla Daily - 1-2-2013 at 07:06 AM

Bank of America has a 3% transaction fee on foreign currency exchanges. Every time you use a BofA visa (Alaska Airlines) this
additional charge will appear.

Mula - 1-2-2013 at 07:09 AM

Use a Schwab visa card at the ATMs and Schwab reimburses your fees every month or 3.

ligui - 1-2-2013 at 07:09 AM

Gas station , loves dollars , last is saw was 12.6 to 1 us

coconaco - 1-2-2013 at 07:24 AM

The easiest place the change money is across the street
from the old La Perla Dept Store ruins. Small window, easy to miss. They have been there for years.

mtgoat666 - 1-2-2013 at 07:39 AM

Quote:
Originally posted by Mula
Use a Schwab visa card at the ATMs and Schwab reimburses your fees every month or 3.


Fidelity has same free atm too.

coconaco - 1-2-2013 at 07:40 AM

Quote:
Originally posted by gnukid
A less optimum choice is a cambio in el centro on the street back from the malecon next to the Callejon which is a promenade with restaurants next to Perla. There you will get an exchange rate less far than the best but they will exchange some amount, so will banks such as Santendar on most occasions but you need to bring your passport and perhaps a copy of it too and they may feel restricted to the amount.


Same place, no words spoken, just pass your money through the window. we stay in town and can walk by there in our travels.
Atm is preferrred.

BajaNomad - 1-2-2013 at 10:33 AM

Thank you.

:)

karenintx - 1-2-2013 at 10:50 AM

Quote:
Originally posted by Marla Daily
Bank of America has a 3% transaction fee on foreign currency exchanges. Every time you use a BofA visa (Alaska Airlines) this
additional charge will appear.


This may be true for the "BOA Visa" as it is considered a credit card transaction however using a BOA ATM card @ Scotia or Santander banks has never charged an ATM fee...at least in the Los Cabos area. We withdraw 6,000 pesos a couple of times a month without a fee attached.

Also USAA Bank will reimburse $14 usd (monthly) to your account for any international ATM fees.

David K - 1-2-2013 at 11:17 AM

For noobies, dollars are accepted everywhere specially at gas stations and hotels where most money might be spent.

DENNIS - 1-2-2013 at 11:24 AM

Sounds like he's on a quest for the most popular "Casa de Cambio" since he mentined he'd rather not use an ATM or go to a bank.
I didn't know grocery stores would make currency exchanges other than when used for purchases.

Alm - 1-2-2013 at 08:37 PM

Quote:
Originally posted by DENNIS
Sounds like he's on a quest for the most popular "Casa de Cambio" since he mentined he'd rather not use an ATM or go to a bank.

Puzzles me too.
"...if the best place is a bank..." - not always true. Bank or ATM of same bank could be a good place if it's affiliated with Mex banks and therefore attach lower service fees and/or better rate. Scotia and HSBC for us canucks, for you it's probably B of A. And it's pretty similar with ATM, i.e. at the "right" ATM you won't get ripped off. Reluctance to pull stacks of cash out of ATM in Mexico is understandable, but Cambios are usually lacking privacy same as ATM.

do not us dollars at the pemex !!

captkw - 1-2-2013 at 09:00 PM

Yes they Love them..and the exchange rates Is lower then that days rate.!!!! La paz just off the malacon where the banks are on the one way road heading into the "zone" is 2 casa de cambios that I use if the bank is not opened...You must go very early if you want to park any where around there and beware the trafficos are fast with there infractions..K&T:cool: ps Hi ligui

[Edited on 1-3-2013 by captkw]

gnukid - 1-2-2013 at 10:04 PM

Quote:
Originally posted by Marla Daily
Bank of America has a 3% transaction fee on foreign currency exchanges. Every time you use a BofA visa (Alaska Airlines) this
additional charge will appear.


Not me, BOA refunds my intl charges, I think they will for most clients, you might have to ask your bank manager. I promise.

Sweetwater - 1-2-2013 at 10:05 PM

Quote:
Originally posted by ligui
Gas station , loves dollars , last is saw was 12.6 to 1 us


My 'limited' experiences suggest this is the worst place to exchange USdollars. Very bad rate and abuse by the attendants.

Wherever you get a fair exchange is directly related to reliability in my experience. I'd rather pay a small charge for an accurate exchange rate and a lack of drama....YMMV.....:rolleyes:

David K - 1-2-2013 at 10:17 PM

Pemex stations post the exchange rate typically. The pump reads in pesos. Take your calculator and divide the pesos shown by the exchange rate. Give the attendant that much plus tip. Easy. If the exchange rate is far different than the bank rate, find another, if no other, oh well.

cambio

captkw - 1-2-2013 at 10:25 PM

Pemix stations post daily There own daily rate which always lower than the real rate for a given date !!! not what is the current bank rate...I'm surprized DK...paying for gas in dls is a losing game....A very old "Gringo" game..always pay in pesos like us locals do.........K&T:cool:

David K - 1-2-2013 at 10:30 PM

I get pesos for our annual big trip to Sur. Not for norte trips.

BajaNomad - 1-2-2013 at 11:00 PM

The Casa de Cambio noted near the La Perla a block off the Malecon - or at least the only one I found in that area is at exactly 12:1. Pemex stations are at that too. No reason really to exchange there, as most are giving 12:1 anyway.

I had multiple people (from online and offline) suggest buying something at the Chedraui - some followed up wanting to know if it still works well or not to do so there. I'll go by and find out one way or the other, and will report back.

:biggrin:

paranewbi - 1-3-2013 at 07:05 AM

Last time I was there we were sent to the mexican grocery store just down from the Wal Mart...large store, can't remember the name. As you walk in there is a customer service counter area and that is where we enquired about exchanging some $$. No hesitation, excellant service, seemed to be no problem with amount (I know it was more than 100$ but not certain about how much we exchanged). Then discovered our favorite Tequilla was on sale much lower than at walmart! Come to think of it...maybe that's why I can't recall exactly how much we exchanged. :)

BajaNomad - 1-4-2013 at 10:35 AM

Chedraui on Abasolo west of the malecon was giving 12.51 pesos per dollar this morning. I bought some small items I needed to get anyway.

[Edited on 1-4-2013 by BajaNomad]

chrcpt.jpg - 8kB

BajaNomad - 1-4-2013 at 10:38 AM

Then I went to get gas... and this particular station was at 12.65 per dollar. They also accept CC's. There was a line at this little "hole-in-the-wall" place each time I went by. On Colosio between Serdan and Prieto.

http://goo.gl/maps/j51nF





[Edited on 1-4-2013 by BajaNomad]

pemexxexchg.jpg - 26kB

DENNIS - 1-4-2013 at 10:45 AM

Quote:
Originally posted by BajaNomad
Chedraui on Abasolo west of the malecon was giving 12.51 pesos per dollar this morning. I bought some small items I needed to get anyway.



Which would reflect the standard [dangerous word in Mexico....I know] 2% charged by competitive Cambios.

The bank rate at the moment is 12.75 to 1.

BajaNomad - 1-4-2013 at 11:18 AM

btw.. thought I'd note... a Pemex in La Paz yesterday quoted me 11:1 exchange rate.

gnukid - 1-4-2013 at 11:29 AM

Quote:
Originally posted by BajaNomad
Then I went to get gas... and this particular station was at 12.65 per dollar. They also accept CC's. There was a line at this little "hole-in-the-wall" place each time I went by. On Colosio between Serdan and Prieto.

http://goo.gl/maps/j51nF





[Edited on 1-4-2013 by BajaNomad]


There is a line for a different reason...

DENNIS - 1-4-2013 at 11:37 AM

Quote:
Originally posted by gnukid



There is a line for a different reason...


OK.....Let me be the first to ask....Why???

gnukid - 1-4-2013 at 11:54 AM

Why are you asking me, I don't know anything...

DENNIS - 1-4-2013 at 12:43 PM

Quote:
Originally posted by gnukid
Why are you asking me, I don't know anything...


Paul....you know. Can I buy a vowel?