BajaNomad

Don’t Bring Travelers Checks, Pilgrims!...from the Gringo Gazette

bajajudy - 3-17-2013 at 11:44 AM

Visitors have been sighted stumbling around town trying to cash Travelers checks. Anymore, it’s hard even to cash those in the States.

Also, banks are reluctant to exchange dollars for pesos because of strict money laundering laws.

But we don’t recommend using dollars, either, as stores give a lousy exchange rate, and it’s easy to get short changed in the sales transaction that includes money exchange.

Using credit cards can be dicey, as there are so many scammers here.

One good idea is to go to a bank and use their ATM. Money will come pouring out of the magic machine in pesos.

Do not use just any old magic money machine, however, as some charge as much as $15. You are safer at a bank ATM, especially one that is inside a bank. That will help diminish the chance of getting a machine that someone has stuck a card reader inside that little slit. If they have, you’re going to get the numbers sucked right off your credit card.

Have a nice vacation.

Terry28 - 3-17-2013 at 12:03 PM

Who reads the Gringo gazette??

bajajudy - 3-17-2013 at 12:04 PM

I get emails in my inbox.
I just thought that some people might enjoy the article because of all the threads on how to bring your money to Baja.

sancho - 3-17-2013 at 12:23 PM

The end of an era, Travellers Checks WERE the regular
way to get pesos in Mex, standing in 2 bank lines,
on occasion having to see the manager complete
with stamps galore. I'll still carry $20 bills, the stories
of Mex ATM's and their habit of eating cards + fees,
makes me hesitent

[Edited on 3-17-2013 by sancho]

DENNIS - 3-17-2013 at 12:40 PM

Quote:
Originally posted by sancho
their habit of eating cards + fees,
makes me hesitent



I think it's the Banamex ATM that you only swipe your card [push it in....pull it back out] and their fees are mas o menos 25 Ps per transaction if you don't have an account with them.
Bancomer on the other hand charges 68 pesos per transaction. OUCH.
Anyway....these charges are clear on the screen and not after the fact or anything like that.
Gotta pay attention.

bajajudy - 3-17-2013 at 12:59 PM

Find a US bank that reimburses any charges....First Republic for one.
I agree with the GG. Use ATM's that are on bank property.
The ones at Mega are notorious for malfunctions, card readers etc.
Always ask for a receipt for your transaction.

Mula - 3-17-2013 at 01:00 PM

Schwab reimburses foreign ATM bank charges.

karenintx - 3-17-2013 at 01:55 PM

For all military/veterans...USAA reimburses world wide ATM charges too! I think there is a monthly limit of $15 USD.

tiotomasbcs - 3-17-2013 at 05:42 PM

Good info, Judy for those of us with family/friends coming down for Easter. This is the same story year round, also. ATMs good just be careful to use a Bank. Many posts here advising good judgment using CCs. Gas stations, surprisingly, give a decent exchange rate?! Tio

CP - 3-17-2013 at 07:08 PM

I used the Bancomer in Viscaino last month. First, that was a nice surprise as the ATM on the road in Loreto was no longer there (I had not driven north beyond Loreto for many years). I must've done something strange because I used my usual two ATM cards and one gave me a fee of aprox 25 pesos and the other 75. There was a line behind me and I was en route so did not stop to figure things out at that point. And, have not figured it out since. But wanted to mention it as folks say different banks charge different fees, which they do, but you can get a different fee all at one bank too. For some reason...

mtgoat666 - 3-17-2013 at 07:33 PM

Quote:
Originally posted by bajajudy
Visitors have been sighted stumbling around town trying to cash Travelers checks. Anymore, it’s hard even to cash those in the States.

Also, banks are reluctant to exchange dollars for pesos because of strict money laundering laws.

But we don’t recommend using dollars, either, as stores give a lousy exchange rate, and it’s easy to get short changed in the sales transaction that includes money exchange.

Using credit cards can be dicey, as there are so many scammers here.

One good idea is to go to a bank and use their ATM. Money will come pouring out of the magic machine in pesos.

Do not use just any old magic money machine, however, as some charge as much as $15. You are safer at a bank ATM, especially one that is inside a bank. That will help diminish the chance of getting a machine that someone has stuck a card reader inside that little slit. If they have, you’re going to get the numbers sucked right off your credit card.

Have a nice vacation.


Gotten so we have little trust in electronic money, scammers all around, I carry cash. Cash is king.

Lately, I find small shops in USA will give discount for paying cash.

Do you ever wonder why banks are enormous? Because suckers have given up cash and use ATM and cc that make bankers rich, skimming a few percent off every transaction. Nothing better than a pocket full of cash, and kids these days think cash is uncool. Bankers are brilliant, they made cash uncool and conviced suckers to pay them a few percent of every transaction :lol:

acadist - 3-17-2013 at 07:37 PM

Didn't even know you could still get travelers checks..............

CP - 3-17-2013 at 07:46 PM

'Because suckers have given up cash and use ATM and cc'

How does one get cash without...getting it?

CASH is what I get (for a fee) from ATMs. ATM and CC give me a much better exchange rate than when I get CASH by cashing a check in the bank.

[Edited on 3-18-2013 by CP]

Zapotec - 3-17-2013 at 07:55 PM

When we go to Baja, we simply use the ATM at the Calimax, Soriana, or Comercial , and we get pesos. The fee is 27.00 pesos per transaction, no matter the amount of cash we get. It's worked well for us, and never had a problem.:)

t-checks will stop mordida

bajadave1 - 3-18-2013 at 05:27 AM

let the officer have a travelers check,(don't have cash), instant freedom
:lol::lol::lol:
:!::!::!:

sancho - 3-18-2013 at 10:51 AM

Quote:
Originally posted by bajadave1
let the officer have a travelers check,(don't have cash), instant freedom







Yrs. back coming up from a 3 mo. trip, made the mistake
of stopping in Rosarito, driving a truck with camper, wife
driving, pulled over for 'speeding' and open beer, went
to the Station, $40 for speeding $120 for the beer,
had Traveller Checks and $16 in pesos, he settled for
the pesos, not exactly mordida, since I was in the wrong
but I did figure he wouldn't take a TC

DavidE - 3-18-2013 at 03:16 PM

Si Menaje

No Tome

O

You're going to lose money big time. The multa for the infraccion now is well over 200 dollars. Many municipios will send the vehicle to a corralón until the multa is paid in cash. Goodbye, radio, battery, spare tire, and contents of vehicle and trunk.

Just A Head's Up...