BajaNomad

So I get my pesos yesterday

55steve - 7-8-2016 at 08:28 AM

Went to Costco in Chula Vista - handed the teller my $$ and she asks for 2 photo ID's - no problem as I just added my passport card to my wallet. She sits in front of her computer for several minutes and tells me all is good & counts out my pesos. She tells me that any transaction over $500 us now requires 2 photo ID's. This is something new apparently.

SFandH - 7-8-2016 at 08:48 AM

Perhaps all the checking is due to people laundering drug money.

I wonder what databases she was accessing and what database she stored your transaction in and who has access to it, besides trustworthy Costco employees.

You're now a "person of interest". :o

55steve - 7-8-2016 at 08:51 AM

She said I was now "in the system" and next time only one ID was needed.....weird.

SFandH - 7-8-2016 at 08:57 AM

Ah yes, "the system". How nice.

Howard - 7-8-2016 at 09:20 AM

What was your net exchange rate?

55steve - 7-8-2016 at 09:45 AM

Quote: Originally posted by Howard  
What was your net exchange rate?


17.419

DENNIS - 7-8-2016 at 11:44 AM



OUCH.....doesn't sound right. I think the ATMs will treat you a lot better than that.
Anyway...if there's a system, it's just theirs.

sancho - 7-8-2016 at 01:28 PM

Quote: Originally posted by 55steve  


17.419











There is a site out of Enenada that quotes rates for their 2 Casas
in Ensenada. It changes on a daily basis as needed, they quote
todays rate to buy dlls at 17.80. Always read that Costco had
better rates. Remember reading cartels ran the Cambios, to clean $ ,whether in Mex or the US, don't know

mtgoat666 - 7-8-2016 at 07:38 PM

Quote: Originally posted by lencho  
Quote: Originally posted by 55steve  
Went to Costco in Chula Vista - handed the teller my $$ and she asks for 2 photo ID's - no problem as I just added my passport card to my wallet.

I'm confused: you had to present identification to exchange cash for cash? I must not have understood something here...


Most all of the cambios ask for ID when xchanging above a certain amount.
It's to prevent money laundering, tax cheating, etc

SFandH - 7-8-2016 at 07:44 PM

Quote: Originally posted by lencho  
Quote: Originally posted by 55steve  
Went to Costco in Chula Vista - handed the teller my $$ and she asks for 2 photo ID's - no problem as I just added my passport card to my wallet.

I'm confused: you had to present identification to exchange cash for cash? I must not have understood something here...


I'm sure George Orwell would understand.

Hook - 7-9-2016 at 07:12 AM

Boy, both options mentioned sound like pretty bad exchange rates over the last couple days. The internet rates on July 7th varied between 18.6-18.9. Most any decent ATM rate would have been 18.3-18.6, figuring in all related fees (your institution, the ATM itself, etc.).

BajaMama - 7-9-2016 at 07:38 AM

Any bank is going to charge a little over the exchange rate - they don't sell pesos for free. B of A has been consistently between 17.5 and 18 over the past couple of weeks. I bought last part of June for 18:1.

DENNIS - 7-9-2016 at 08:40 AM


The exchange rate will tend to favor the bank more on Friday, especially in a volatile money market such as we're in. Its a gamble for the bank to guess what will be happening in the world come Monday, so they put in a cushion.