BajaNomad

I got ripped off in the Exchange Rate this weekend

Baja_Itzcoatl - 8-12-2015 at 10:35 AM

I read here last week that said it was illegal in Mexico to charge you in Dollars only. Where they must show the Pesos price & to pay in pesos when you can so they don’t screw you with their exchange rate. This weekend I hung out at Rosarito Beach/Puerto Nuevo and paid EVERYTHING with my credit card. What a difference! I am doing this from now on, even with the 3% bank fee it’s a deal! However I noticed while looking at my receipts that one of the establishments charged me in Dollars at their exchange rate ($1-14), instead of charging me in Pesos. I assume that is a loophole they use to still get their Dollar price… is that legal for them to do??

I feel i may have been scammed.

motoged - 8-12-2015 at 10:53 AM

Use pesos when in Mexico....helps with the conversion problem....

dasubergeek - 8-12-2015 at 10:56 AM

Unless you're at a corporate place, you can negotiate the tipo de cambio when you pay, but yeah, just pay in pesos. The cambios near the border actually give pretty good rates if you don't want to dip your ATM card in a Mexican machine.

Lee - 8-12-2015 at 11:05 AM

Quote: Originally posted by Baja_Itzcoatl  
However I noticed while looking at my receipts that one of the establishments charged me in Dollars at their exchange rate ($1-14), instead of charging me in Pesos.

I feel i may have been scammed.


Sorry to read you got ripped off, screwed, and scammed.

You signed receipts for charges, I assume, and noticed it later?

Wish I were trusting enough to use a credit card in Baja.

SFandH - 8-12-2015 at 11:24 AM

It's best to get pesos from an ATM and then go have some fun or shopping. I'm with Lee about using credit cards in Mexico, except in cases when you absolutely need to for some reason.

Udo - 8-12-2015 at 01:02 PM

I have yet to trust any place in Baja with my credit card (especially the gas stations).

Sweetwater - 8-12-2015 at 04:28 PM

I've followed the advice from the board and used pesos for most of my transactions. OTOH, I've traveled with others who simply used their card like they would in the USA. Pemex, hotels, restaurants and stores were all given the card for billing. They all got receipts and I've never heard that they were skimmed or scammed. The new cards are chipped to provide additional protection and I am discussing Credit cards, not Debit cards. If the OP got a poor exchange rate, it should have shown on his receipt and he could have declined payment on the spot.

vandenberg - 8-12-2015 at 04:49 PM

Have been using credit card here in Loreto wherever possible without any problems.
Get the best exchange rate without foreign transaction charges.

Like today, 16.22 to the dollar

Hook - 8-12-2015 at 04:59 PM

I thought using credit cards was actually safer than using a debit card. Your liability is limited with a credit card, assuming you notify them promptly. A debit card can be taken up to your daily max.........or even worse, if it is compromised.

mtgoat666 - 8-12-2015 at 08:09 PM

Quote: Originally posted by Baja_Itzcoatl  
I read here last week that said it was illegal in Mexico to charge you in Dollars only. Where they must show the Pesos price & to pay in pesos when you can so they don’t screw you with their exchange rate. This weekend I hung out at Rosarito Beach/Puerto Nuevo and paid EVERYTHING with my credit card. What a difference! I am doing this from now on, even with the 3% bank fee it’s a deal! However I noticed while looking at my receipts that one of the establishments charged me in Dollars at their exchange rate ($1-14), instead of charging me in Pesos. I assume that is a loophole they use to still get their Dollar price… is that legal for them to do??

I feel i may have been scammed.


As pt Barnum said, there is a sucker born every minute!

I thought everyone knew:
Don't use credit cards (heck they are not really accepted outside of urban areas).
Use pesos, not dollars.
If you do use credit card, make sure vendor charges your card in pesos and not dollars.
Keep good records when you use credit cards, because so many vendors are doing credit card fraud your head will spin!
Cash is king!

Feel the Bern!

Peace out!

bajajurel - 8-13-2015 at 10:44 AM

Get a Schwab card, they reimburse all fees etc. Use it to draw Pesos out of an ATM = best exchange rate and you don't have to hassle with getting Pesos before you depart.

ZipLine - 8-13-2015 at 07:40 PM

If that is the worst you ever get "ripped off" in your life, you aren't really trying. Get out there and take a few risks!

BajaBlanca - 8-14-2015 at 01:13 AM

Interesting question though....can or can't establishments legally charge in dollars? I do believe we were asked in one hotel on this European trip whether we wanted to be charged in dollars or zloty.

chuckie - 8-14-2015 at 07:31 AM

Wife just got back from Cozmel....All prices and charges were made in Dollars only

Ripped

J.P. - 8-14-2015 at 03:49 PM

Geeeezzzzzzzzzz. I have lived hear for quite a while. On a given day / hour you will not get the top posted exchange rate any where any time its caller cost of doing business. I would bet the person doing the complaining couldn't calculate the exchange rate in their head if someone walked up to them with a wad of Foreign currency to consummate a purchase.
Folks use PESOS its the Coinage of the land .

mtgoat666 - 8-14-2015 at 07:49 PM

Quote: Originally posted by chuckie  
Wife just got back from Cozmel....All prices and charges were made in Dollars only


Do they charge mexicans in dollars? The restaurants have 2 menus? One in dollars, another in pesos? Ask for both menus, choose the lowest price!

[Edited on 8-15-2015 by mtgoat666]

Marc - 8-15-2015 at 07:29 AM

My rules for a two weeker.
Estimate a budget & buy X2 in coin of the realm. Pays everything.
Depending on where I will be also USD. So in Baja about $500.
Two credit cards (one is AMEX) just in case.
Never use ATM.

J.P. - 8-15-2015 at 08:26 AM

Quote: Originally posted by Marc  
My rules for a two weeker.
Estimate a budget & buy X2 in coin of the realm. Pays everything.
Depending on where I will be also USD. So in Baja about $500.
Two credit cards (one is AMEX) just in case.
Never use ATM.





I have lived here over 14 years .WE use the ATM exclusively always at the bank I draw out the Max. and when that's gone we get more. One time at the Bank the machine at the Bank went thru the motions and no Pesos came out. I went inside and the head teller showed me a computer print out that noted the transaction. She said they would notify my bank and for me to call them also My bank said by law they had to make it right and that it would take 2 to 3 days for it to show up and it did.