BajaNomad

Best Place to Buy Pesos in San Filipe

bajarich - 1-16-2019 at 08:47 PM

Currently in Yuma, headed for San Filipe, and have been advised to get Pesos in SF. Rate in Algodonas today was 17.9. Is it worth holding off until SF? If so, where is the best place to exchange?
The official rate is 18.9.

tobias - 1-16-2019 at 09:06 PM

Are you going through Mexicali or are you crossing now? A month ago I found the best rate on the american side in Calexico. Less than half a peso off what google was posting at the time.

sancho - 1-16-2019 at 09:26 PM

I know of only 1 casa de cambio in SF, where Chetumal St.,
the main st. you drive in from the no. dead ends at the malecon,
the st. that fronts the Sea of Cortez. The rate at San Ysidro today is 18.709. Generally
a casa in Mex will offer slightly less than border crossings
on the US side

David K - 1-16-2019 at 10:31 PM

Yes, get pesos on the U.S. side "Casas de Cambio" (Exchange houses).
Otherwise, just use dollars... everyone accepts them in Baja.

Phil C - 1-17-2019 at 07:35 AM

ATM at the first Pemex in S.F.

WestyWanderer - 1-17-2019 at 07:51 AM

Came home on the 15th through San Felipe, Mexicali, and Calexico. The best rate at the time (18.55) was in Calexico. Mexicali was slightly less (18.50) didn’t see in San felipe but it’s been my experience that’s San Felipe is traditionally about half a peso less than Mexicali.

JZ - 1-17-2019 at 11:15 AM

Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.


That's a sure way to get the worst possible exchange rate, by a very wide margin.




[Edited on 1-17-2019 by JZ]

David K - 1-17-2019 at 11:25 AM

Not in my experience. I have purchase pesos at a Casa de Cambio only to find the Pemex stations offering better exchange rates. Dollars are desired. We are only talking pennies, but the advice to get pesos is really best for newbies to not get confused when getting change from purchases if they use dollars and get pesos in change. A pocket calculator is your friend.

Come on David, not good advice for a newbie

thebajarunner - 1-17-2019 at 11:37 AM

Quote: Originally posted by David K  
Not in my experience. I have purchase pesos at a Casa de Cambio only to find the Pemex stations offering better exchange rates. Dollars are desired. We are only talking pennies, but the advice to get pesos is really best for newbies to not get confused when getting change from purchases if they use dollars and get pesos in change. A pocket calculator is your friend.


Most Pemex stations I see have big signs that say "16 x 1"
What a deal.... and that is more than pennies.

But more important, for a newcomer you are asking them to not only take a hit on the exchange if they use dollars, but also to have to make "on the run" mathematical calculations as to the conversion, be it official rate or something less.
Why make it more complicated?
My first advice, always, to a first timer...."Get pesos- it makes life a lot easier"

JZ - 1-17-2019 at 11:38 AM

Quote: Originally posted by David K  
Not in my experience. I have purchase pesos at a Casa de Cambio only to find the Pemex stations offering better exchange rates. Dollars are desired. We are only talking pennies, but the advice to get pesos is really best for newbies to not get confused when getting change from purchases if they use dollars and get pesos in change. A pocket calculator is your friend.


You are gonna lose a lot of money running around Baja paying in dollars. Rookie mistake.

And I'm the last one to fixate on exchange rates. Plus who wants to use a calculator for all of transactions you might make daily, especially while under the influence of a couple Pacificos.


[Edited on 1-17-2019 by JZ]

David K - 1-17-2019 at 12:11 PM

As I said, not in my experience... and I am not a newbie or need a calculator for all purchases. I have always advised about the peso exchange places and what I got. I even gave directions to the Chula Vista Costco where I have bought pesos a few times the past 10 years.

The point I am saying to newbies is if you can't find an exchange house to not panic or spoil your trip. Dollars are accepted everywhere in Baja. Sometimes the rate isn't so great but in the northern gas stations, it is often better than the exchange house rates. The most money we campers spend is buying gas. Hotels take credit cards as do many motels now. That gets you the official rate of exchange.

Having pesos in small notes is great for the taco stands. Just relax and enjoy the Baja experience.

willardguy - 1-17-2019 at 01:26 PM

Quote: Originally posted by thebajarunner  
Quote: Originally posted by David K  
Not in my experience. I have purchase pesos at a Casa de Cambio only to find the Pemex stations offering better exchange rates. Dollars are desired. We are only talking pennies, but the advice to get pesos is really best for newbies to not get confused when getting change from purchases if they use dollars and get pesos in change. A pocket calculator is your friend.


Most Pemex stations I see have big signs that say "16 x 1"
What a deal.... and that is more than pennies.

But more important, for a newcomer you are asking them to not only take a hit on the exchange if they use dollars, but also to have to make "on the run" mathematical calculations as to the conversion, be it official rate or something less.
Why make it more complicated?
My first advice, always, to a first timer...."Get pesos- it makes life a lot easier"


I suppose it varies from location to station but at least up here in rosarito/tijuana Pemex's have always had some of the best exchange rates you can find, many locals will buy gas with greenbacks to get change in peso's........now with Pemex's a thing of the past I wonder how this shakes out with Chevron's and Arco?

drzura - 1-17-2019 at 01:33 PM

Totally agree. Do not pay in U.S. dollars if possible.


Quote: Originally posted by JZ  
Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.


That's a sure way to get the worst possible exchange rate, by a very wide margin.




[Edited on 1-17-2019 by JZ]

pacificobob - 1-17-2019 at 01:36 PM

Quote: Originally posted by JZ  
Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.


That's a sure way to get the worst possible exchange rate, by a very wide margin.




[Edited on 1-17-2019 by JZ]


i refuse to use currency from a country other than the one i am in. if the foreign currency is accepted....there is a very good reason why. it is not hard to connect the dots here. if someone quotes a price to me in dollars, i am fairly sure i am about to be boned and being quoted the "gringo price"

JZ - 1-17-2019 at 01:37 PM

Quote: Originally posted by David K  
As I said, not in my experience... and I am not a newbie or need a calculator for all purchases. I have always advised about the peso exchange places and what I got. I even gave directions to the Chula Vista Costco where I have bought pesos a few times the past 10 years.

The point I am saying to newbies is if you can't find an exchange house to not panic or spoil your trip. Dollars are accepted everywhere in Baja. Sometimes the rate isn't so great but in the northern gas stations, it is often better than the exchange house rates. The most money we campers spend is buying gas. Hotels take credit cards as do many motels now. That gets you the official rate of exchange.

Having pesos in small notes is great for the taco stands. Just relax and enjoy the Baja experience.


So you don't go to bars, shopping, restaurants, rent boats/pangas, etc., etc.

Again, carrying dollars except for the corner case of just buying gas at one of the Pemexs offering a good rate, is how you get a 15 to 1 rate or worse.




[Edited on 1-17-2019 by JZ]

WestyWanderer - 1-17-2019 at 02:41 PM

For what it’s worth, spent last week in Puertecitos and changed dollars in Calexico for 18.70, Pemex stations in San Felipe were changing at 19.0.

I would agree the easiest way to go is to get pesos though

David K - 1-17-2019 at 03:24 PM

Quote: Originally posted by WestyWanderer  
For what it’s worth, spent last week in Puertecitos and changed dollars in Calexico for 18.70, Pemex stations in San Felipe were changing at 19.0.

I would agree the easiest way to go is to get pesos though


Exactly, I simply reported the facts and then the reader can decide.

HeyMulegeScott - 1-17-2019 at 03:41 PM

We get a good exchange rate by using our credit cards that don't charge a transaction fee. In San Felipe Calimax, Oxxo, and a couple of the Pemex stations take credit cards. For peso we use the ATM at Calimax or the bank downtown with our USAA account that doesn't charge fees. Be careful because after a busy weekend.

I have to agree with JZ if you use dollars you will pay the gringo tax.

sancho - 1-17-2019 at 05:50 PM

Quote: Originally posted by Three2tango  
We get a good exchange rate by using our credit cards that don't charge a transaction fee







I suppose I'm escuela viejo, not part of the plastic using searching for the easiest, most convenient method, generation. Never would I use a credit card in Mex. I prefer pesos and
if the peso per dll is not easily rounded up, a calculator

HeyMulegeScott - 1-17-2019 at 07:11 PM

Quote: Originally posted by sancho  
Quote: Originally posted by Three2tango  
We get a good exchange rate by using our credit cards that don't charge a transaction fee



I suppose I'm escuela viejo, not part of the plastic using searching for the easiest, most convenient method, generation. Never would I use a credit card in Mex. I prefer pesos and
if the peso per dll is not easily rounded up, a calculator


Come on amigo join the 21st century;) We get cash back on our credit card, fully protected from fraud, and I have had more problems in California than anywhere else Mexico has never been a problem.

mtgoat666 - 1-17-2019 at 07:22 PM

Quote: Originally posted by bajarich  
Best Place to Buy Pesos in San Filipe?
Currently in Yuma, headed for San Filipe,....


Buy them in the USA, cambios are located just north of each border xing. Almost always cheapest to buy in USA.

BornFisher - 1-17-2019 at 07:23 PM

Three2tango-- so do you get cash back using a credit card? Is that at Calimax, or OXXO or where? Going to have to try that. When I use a debit card at a bank, they charge $5 plus 3%. I have a card that has no fees for international transactions so this may be great info!!

JZ - 1-17-2019 at 07:32 PM

Quote: Originally posted by BornFisher  
Three2tango-- so do you get cash back using a credit card? Is that at Calimax, or OXXO or where? Going to have to try that. When I use a debit card at a bank, they charge $5 plus 3%. I have a card that has no fees for international transactions so this may be great info!!


Agree 100% with Three2tango. I have CC's that have no international transaction fees. There are debit cards that offer the same.

You get points and/or cash back for every purchase you make, from the card holder, not the places you use it at.

You should be putting everything through a CC (and paying it off each month). Lots of free flights, hotels, rental cars, etc. earned that way. Plus it helps towards airline status, e.g. you get to fly first class for free on coach tickets.

Ppl afraid to use a CC in MX are behind the times. If there is fraud, one call to the bank reverses it instantly.

Plus, you get the best exchange rates. In sum, always use a CC where possible.

(although using pesos is still way better than traveling around Baja with dollars and paying the gringo tax that DK pays).



[Edited on 1-19-2019 by JZ]

HeyMulegeScott - 1-17-2019 at 07:37 PM

Quote: Originally posted by BornFisher  
Three2tango-- so do you get cash back using a credit card? Is that at Calimax, or OXXO or where? Going to have to try that. When I use a debit card at a bank, they charge $5 plus 3%. I have a card that has no fees for international transactions so this may be great info!!


Yeah. Use your credit with no fees at Calimax, Oxxo, Pemex and anywhere that takes it without tacking on extra fees. We get cash back on our credit card. Credit card should give you a good exchange rate.

For banking, we add money to our USAA checking that doesn't charge fees and refunds a certain amount of the ATM per month. This isn't our primary checking account so if we lose the card or something happens down here we have a backup. Plenty of other options for banks that don't hose you on those fees.

Alm - 1-18-2019 at 09:09 PM

Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.

This is what I usually hear from newbies or short-term visitors, and it can't be farther from the truth. Eventually they will take USD if you insist, but the rate won't be good.

Agreed with other posters - buy pesos in the US.

PaulW - 1-18-2019 at 09:25 PM

Lots of answers where to buy Pesos that do not answer the question by the OP.
In San Felipe every ATM I have tried, both no local bank one work just fine and always give you a good exchange rate. Bancomer now works. Sometimes your parent bank has a service charge.

David K - 1-18-2019 at 09:32 PM

Quote: Originally posted by Alm  
Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.

This is what I usually hear from newbies or short-term visitors, and it can't be farther from the truth. Eventually they will take USD if you insist, but the rate won't be good.

Agreed with other posters - buy pesos in the US.



I have traveled in Baja since the 1960s, and as you missed where I have talked about getting pesos many times, the fact is you can use dollars and it is not always a bad exchange. I wanted the OP to not panic if he didn't get pesos. Relax.

willardguy - 1-18-2019 at 09:39 PM

Quote: Originally posted by David K  
Quote: Originally posted by Alm  
Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.

This is what I usually hear from newbies or short-term visitors, and it can't be farther from the truth. Eventually they will take USD if you insist, but the rate won't be good.

Agreed with other posters - buy pesos in the US.





I have traveled in Baja since the 1960s, and as you missed where I have talked about getting pesos many times, the fact is you can use dollars and it is not always a bad exchange. I wanted the OP to not panic if he didn't get pesos. Relax.


so what kind of of a rate were getting as a 8 year old adventurer?

David K - 1-18-2019 at 11:35 PM

12.50 to the dollar.

pacificobob - 1-19-2019 at 07:05 AM

in the mid-1500s while traveling with juan (cabrillo that is) we had such a difficult time changing our escudos to pesos. but of course, most of you were unfamiliar with "the baja" back then.

wilderone - 1-19-2019 at 07:57 AM

"have to make 'on the run' mathematical calculations as to the conversion,"
The guys at the gas stations have calculators and will show you the calculation as they make it, twice if you want.

"You should be putting everything through a CC "
Sometimes your card will be declined for an unknown reason (at a time when you really need that purchase). Sometimes their card reader can't be used. Sometimes there is fraud with card skimmers. Sometimes the ATM is out of money. Never let anyone walk away out of sight with your credit card. Do not rely on your credit card to be your only payment option. And of course, only use a bank card that has no foreign transaction fees AND reimbursed transaction fees. And always separate your cash, credit cards, checks (yes, some still take a check), and divide your cash in separate places.

Don't sweat a small difference in exchange rates. The difference between $500 at 17.60 rate and a 18.20 rate is $16.00. If you have an ATM transaction fee charged, you're dinged for $2 or $3 every time. The price of gas is different, sometimes the station pumps are skewed (what? I just put 16 gal. in my tank that takes 12?). Such are the perils and pitfalls of travel.

PaulW - 1-19-2019 at 08:32 AM

Not fake news
Got 9000 Pesos yesterday at the ATM. Exchange rate was 18.647/dollar including a $5 charge from Wells Fargo.
18.8425 if you ignore the $5 charge. The official bank rate yesterday was 19.077

mtgoat666 - 1-19-2019 at 08:34 AM

Quote: Originally posted by David K  
Quote: Originally posted by Alm  
Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.

This is what I usually hear from newbies or short-term visitors, and it can't be farther from the truth. Eventually they will take USD if you insist, but the rate won't be good.

Agreed with other posters - buy pesos in the US.



I have traveled in Baja since the 1960s, and as you missed where I have talked about getting pesos many times, the fact is you can use dollars and it is not always a bad exchange. I wanted the OP to not panic if he didn't get pesos. Relax.


Many People don’t want dollars. They tolerate your offer of dollars because they are polite.
The local currency is pesos. Take 5 minutes effort to change some money, instead of making your laziness the vendor’s problem

PaulW - 1-19-2019 at 08:50 AM

Goat that is true. The polite local place or vendor that take dollars has to go to a friend who has a US bank or a Local bank and exchange dollars for pesos. That means the local place will lose money for each exchange. Thus the discount to take dollars is quite a bit.
Its is not nice to use dollars.

David K - 1-19-2019 at 10:57 AM

Yet, while standing in line at a market in El Rosario (not a tourist town) a few years ago, a local was buying groceries using dollars... it is a second currency and not at all an issue.

Goat misses the point... I agree it is easier and respectful to use pesos, and I normally do. If, however, you either can't get the pesos or run out of pesos, don't panic... dollars work. Don't cancel a trip because you didn't get pesos.

Escuela Viejo?

AKgringo - 1-19-2019 at 11:02 AM

Yeah....me too, but I feel that using my 'Yaba daba doo' card from the Bank of Bedrock, is safer for me than carrying enough cash to last a couple of months in Baja.

AKgringo - 1-19-2019 at 11:30 AM

Quote: Originally posted by willardguy  


so what kind of of a rate were getting as a 8 year old adventurer?



My parents were taking me on trips to Mexico back then, and it was either 12.5 pesos to the dollar (8 cents), or eight pesos to the dollar (12.5 cents). It was a long time ago!

willardguy - 1-19-2019 at 03:09 PM

Quote: Originally posted by mtgoat666  
Quote: Originally posted by David K  
Quote: Originally posted by Alm  
Quote: Originally posted by David K  

Otherwise, just use dollars... everyone accepts them in Baja.

This is what I usually hear from newbies or short-term visitors, and it can't be farther from the truth. Eventually they will take USD if you insist, but the rate won't be good.

Agreed with other posters - buy pesos in the US.



I have traveled in Baja since the 1960s, and as you missed where I have talked about getting pesos many times, the fact is you can use dollars and it is not always a bad exchange. I wanted the OP to not panic if he didn't get pesos. Relax.


Many People don’t want dollars. They tolerate your offer of dollars because they are polite.
The local currency is pesos. Take 5 minutes effort to change some money, instead of making your laziness the vendor’s problem


:lol:...no seriously, you couldn't make this chit up! show me ONE mexican that wouldn't rather have a grip load of american dollars over peso's!

bajarich - 1-20-2019 at 11:01 AM

Since I am still in Yuma and will be crossing a Algodonas, I'll just get the Pesos there when I pick up my new crown.

I don't use dollers because I don't want to have to get out a calculator every time I do a transaction. What a hassle, plus, since I can count cambio in pesos, I count it out in front of the clerk so they don't make a "mistake" and shortchange me. It's just easier to deal with their system.

David K - 1-20-2019 at 11:13 AM

Yes, it is easier to use pesos. Let us know what exchange rate you get. Have fun down there in the arroyo or where ever you go! I hope you enjoyed my book... It was nice talking with you!

Alm - 1-20-2019 at 07:55 PM

I wonder how one can "not get pesos" in the US before the trip, unless he is in a hurry or living really in the middle of nowhere AND near the border, i.e. no major towns before crossing in.

Credit cards are not my favorite payment method in Mexico. They are not universally accepted, may be declined by the terminal, some places don't have CC terminals, and there is a risk of unauthorized charges as in any 3rd world country. I only use CC when there is no other choice. Unused pesos you can always sell back to the bank (or to cambio).

[Edited on 1-21-2019 by Alm]

surabi - 1-22-2019 at 12:52 AM

You usually get the best exchange rate using an ATM. I don't know why anyone would use a Casa de Cambio.

David K - 1-22-2019 at 12:58 AM

Quote: Originally posted by surabi  
You usually get the best exchange rate using an ATM. I don't know why anyone would use a Casa de Cambio.

The risk of having your credit card getting swallowed at an ATM and then waiting (or returning to that place) for the bank to open to get it back is far too risky a way to ruin a vacation, IMO. Everyone (nearly) uses money exchange houses with ease.

willardguy - 1-22-2019 at 09:25 AM

Quote: Originally posted by David K  
Quote: Originally posted by surabi  
You usually get the best exchange rate using an ATM. I don't know why anyone would use a Casa de Cambio.

The risk of having your credit card getting swallowed at an ATM and then waiting (or returning to that place) for the bank to open to get it back is far too risky a way to ruin a vacation, IMO. Everyone (nearly) uses money exchange houses with ease.


I don't know a soul that uses a casa de cambio for pesos....do you bring your own tacos down also, it would be far to risky a way to ruin a vacation buying one off the street :rolleyes:

JoeJustJoe - 1-22-2019 at 09:43 AM

Quote: Originally posted by David K  

The risk of having your credit card getting swallowed at an ATM and then waiting (or returning to that place) for the bank to open to get it back is far too risky a way to ruin a vacation, IMO. Everyone (nearly) uses money exchange houses with ease.


I'm shocked at hearing you say this David K. It's so anti-Mexico tourism.

There is always a very small chance your ATM could get stuck in a ATM, but the odds are so minuscule it's not likely to happen, although combined with the fact, you may lose your ATM, or your bank shuts it down because of possible fraud.

This is why it makes sense to visit foreign countries with multiple ATM, especially some of those online ATM cards, and you should always have one or two credit cards with a pin number, so you could withdraw money in an emergency and continue to enjoy your vacation.

There is nothing wring with using exchange houses, except for the fact you are going to get screwed out of a good exchange rate.

Alm - 1-22-2019 at 11:39 AM

There is a minor risk of having CC swallowed or rejected, but it does exist. Mine was rejected by some ATMs.

I always purchase pesos before crossing in - at small exchange places where rate is better than in my bank, and also bring some food items. Many people do. On rare occasions when Mexicans quote in USD, I use this to my advantage and give them pesos at the exchange rate of their local bank. Ex, pay pesos 17:1 when I bought it 18:1 :). Though my areas are a bit farther than SF, and the farther you go, the less beneficial is paying in USD. Very rarely they quote in USD, mostly those are tourist-oriented businesses like campgrounds.

It also depends on what kind of trip. If you're moving frequently from town to town, spending tons of money on gas and hotels, it might not be prudent to carry that much cash, and CC comes handy. Just don't count on it to always work.

David K - 1-22-2019 at 11:42 AM

Weird... I have always brought money with me that I plan to spend on a trip. Yes, I also get pesos before crossing the border. All my Baja mapping trips I described this and none of you freaked out then when I gave the Casa de Cambio rates and the rates I saw in Mexico, the rates were fair.

I have used a credit card at hotels, but I mostly camp. I did use an ATM once to get cash when I was short, many years ago, at the bank in San Felipe... I just can imagine what a horrible thing it would be if the machine ate my card... that's all.

Edit: Alm, I didn't see your reply when I was typing this... You are correct in your post. The further south, the bigger the spread in dollar to peso exchange rates.

[Edited on 1-22-2019 by David K]

JoeJustJoe - 1-22-2019 at 12:33 PM

You are old school David K.

I think the consensus now for travelers, is to get a Schwab ATM card, that will reimburse you for ATM fees that can add up, and this way you get the best exchange rate. It's not that hard to do, but they do run a credit check.

The ATMs give the best exchange rates, and if the machine eats your card. You still have your other ATM card from your regular bank.

With some credit cards and ATMs, with new chips, you no longer have to alert your bank, if traveling outside of the US.

PaulW - 1-22-2019 at 02:38 PM

IMO
* Bank charges are trivial when you withdraw the max allowed by your home bank.
* It has been 15 years since I heard of an ATM keeping your card.
* ATMs are very handy.
* The problem banks had with Mx federal rules and not accepting credit card withdrawals from their ATMs was fixed 4-5 years ago. Bank ATMs work just fine. And there is always someone nearby if you have any issue.
* For full timers Bancomer has an ATM with a drawer for deposits to keep your bank full for future auto payments.

JZ - 1-22-2019 at 02:43 PM

Quote: Originally posted by David K  

The risk of having your credit card getting swallowed at an ATM and then waiting (or returning to that place) for the bank to open to get it back is far too risky a way to ruin a vacation, IMO. Everyone (nearly) uses money exchange houses with ease.


I've used ATM's in MX for 15 years. Hundreds of transactions. Only had one card "eaten." It was inside the Marina Coral Hotel in Ensenada about 1.5 years ago.


[Edited on 1-23-2019 by JZ]

Alm - 1-22-2019 at 04:19 PM

"The ATMs give the best exchange rates" - is there any proof of that?

My understanding has been that ATM - leaving fees and charges aside - would give you the rate of your NOB bank. If so, - this rate sucks, compared to a good Cambio either NOB or in Mexico.

JoeJustJoe - 1-22-2019 at 04:35 PM


'You can lead a horse to water but you can't make him drink'

KurtG - 1-22-2019 at 05:52 PM

Quote: Originally posted by Alm  
"The ATMs give the best exchange rates" - is there any proof of that?

My understanding has been that ATM - leaving fees and charges aside - would give you the rate of your NOB bank. If so, - this rate sucks, compared to a good Cambio either NOB or in Mexico.


It is really simple to check. After using the ATM I go to my bank's website to see what I was charged. My bank reimburses me for any fee charged by the Mexican bank. I find the exchange rate to be very close to the xe.com interbank rate. This is better than the casa de cambios' rates.

I never have had a atm card "eaten" but I use bank atm's during bank hours as a precaution. While I always carry emergency cash I find it very convenient to get pesos as I need them from the atm's. I have been doing it this way as long as atm's have existed in Baja.

Alm - 1-22-2019 at 06:07 PM

Quote: Originally posted by KurtG  
After using the ATM I go to my bank's website to see what I was charged. My bank reimburses me for any fee charged by the Mexican bank. I find the exchange rate to be very close to the xe.com interbank rate. This is better than the casa de cambios' rates.

Bank rate for cash withdrawals is close to xe.com? This has not been my experience (Scotiabank.ca). It's difficult for a big bank to beat the rates of small exchange places, if you take due diligence to find good ones. They don't call it "casas de cambios" here, but there are many and rates vary.

[Edited on 1-23-2019 by Alm]

KurtG - 1-22-2019 at 07:50 PM

Quote: Originally posted by Alm  
Quote: Originally posted by KurtG  
After using the ATM I go to my bank's website to see what I was charged. My bank reimburses me for any fee charged by the Mexican bank. I find the exchange rate to be very close to the xe.com interbank rate. This is better than the casa de cambios' rates.

Bank rate for cash withdrawals is close to xe.com? This has not been my experience (Scotiabank.ca). It's difficult for a big bank to beat the rates of small exchange places, if you take due diligence to find good ones. They don't call it "casas de cambios" here, but there are many and rates vary.

[Edited on 1-23-2019 by Alm]

I'm simply telling of my experience not speculating about rates, only takes a minute or two to see what exchange rate I have been charged and compare it to xe.com. Don't know about how it works with other banks, mine is a Southern California regional bank. Pacific Premier Bank.

AZ7000 - 2-26-2019 at 11:49 AM

Quote: Originally posted by willardguy  
Quote: Originally posted by David K  
Quote: Originally posted by surabi  
You usually get the best exchange rate using an ATM. I don't know why anyone would use a Casa de Cambio.

The risk of having your credit card getting swallowed at an ATM and then waiting (or returning to that place) for the bank to open to get it back is far too risky a way to ruin a vacation, IMO. Everyone (nearly) uses money exchange houses with ease.


I don't know a soul that uses a casa de cambio for pesos....do you bring your own tacos down also, it would be far to risky a way to ruin a vacation buying one off the street :rolleyes:


I have BBVA in the US and never an issue getting the current exchange rate on ATM withdrawals. Always about the best exchange rate I can find, except some of the Pemix stations.

One time I had a few beers, went to the only ATM in San Felipe at the time and left my card behind, a guy came running after me and gave it back, the horror! :bounce:

Alm - 2-28-2019 at 04:55 PM

Quote: Originally posted by AZ7000  

I have BBVA in the US and never an issue getting the current exchange rate on ATM withdrawals. Always about the best exchange rate I can find

Not sure. Banks rarely offer exchange rate better than a credit card. The problem with CC is 2.5% conversion fee, you can beat this by using fee-refunding cards like Schwab but this only works for purchases, not ATM withdrawals.

I recall BBVA customers complaining about conversion fee $3+1% of amount, too.

StuckSucks - 2-28-2019 at 05:31 PM

A year ago I was driving down Baja with 2000$MN in my pocket and thought "I'll peso-up in San Felipe" -- I was making a bonsai run to San Ignacio for the first night. Credit cards work in some places, but I didn't want to depend on them. All ATMs at the banco in San Felipe were DOA, ditto for the Calimex and a couple OXXOs. Luckily, a friend in San Felipe gave me a cash advance -- I transferred money into his account with my laptop and all was good. In addition to the ATM issues, I wasted almost two hours in San Felipe trying to get pesos.

JZ - 2-28-2019 at 05:35 PM

Quote: Originally posted by StuckSucks  
A year ago I was driving down Baja with 2000$MN in my pocket and thought "I'll peso-up in San Felipe" -- I was making a bonsai run to San Ignacio for the first night. Credit cards work in some places, but I didn't want to depend on them. All ATMs at the banco in San Felipe were DOA, ditto for the Calimex and a couple OXXOs. Luckily, a friend in San Felipe gave me a cash advance -- I transferred money into his account with my laptop and all was good. In addition to the ATM issues, I wasted almost two hours in San Felipe trying to get pesos.


Had a similar issue once. Ended up Western Union'ing cash to myself. There is a little building there where you can get cash.

Alm - 2-28-2019 at 08:40 PM

Quote: Originally posted by StuckSucks  
In addition to the ATM issues, I wasted almost two hours in San Felipe trying to get pesos.

That's the thing - on a short trip your time becomes too valuable. Bring pesos for things that need pesos, especially in small towns. The OP has already decided to do so, as I recall.

David K - 3-1-2019 at 01:48 AM



Dollars are accepted everywhere in Baja you are likely to need money. It is a dual currency peninsula. The gas stations near the border even give you a better exchange for your dollars than the bank teller gives at the exchange houses. I saw 19.15/dollar at a gas station.

About the biggest extreme penalty for using dollars is probably 50 centavos per dollar. The going rate is 18.50 pesos per dollar and at the remote location you may get just 18.00 per dollar.... you are shorted about 2-1/2 cents on that dollar purchase. A 2.5% tip can't ruin a gringo on a vacation can it?

Feel good and get pesos, but don't panic if you don't have any or any left. I ran out in Santa Rosalia on my way home two years ago and asked if paying in dolarés was ok... it was. You might get the change in Pesos, but a little solar powered calculator or your smartphone calculator will make easy work of that. The local markets have dollars in their drawers, too. So what if you don't get the prime rate of exchange? Live a little, share a little... they are making your vacation a reality and you are making tortillas and beans their reality!

[Edited on 3-1-2019 by David K]

JZ - 3-1-2019 at 08:11 AM

Quote: Originally posted by David K  


Dollars are accepted everywhere in Baja you are likely to need money. It is a dual currency peninsula. The gas stations near the border even give you a better exchange for your dollars than the bank teller gives at the exchange houses. I saw 19.15/dollar at a gas station.

About the biggest extreme penalty for using dollars is probably 50 centavos per dollar. The going rate is 18.50 pesos per dollar and at the remote location you may get just 18.00 per dollar.... you are shorted about 2-1/2 cents on that dollar purchase. A 2.5% tip can't ruin a gringo on a vacation can it?

Feel good and get pesos, but don't panic if you don't have any or any left. I ran out in Santa Rosalia on my way home two years ago and asked if paying in dolarés was ok... it was. You might get the change in Pesos, but a little solar powered calculator or your smartphone calculator will make easy work of that. The local markets have dollars in their drawers, too. So what if you don't get the prime rate of exchange? Live a little, share a little... they are making your vacation a reality and you are making tortillas and beans their reality!

[Edited on 3-1-2019 by David K]


Still can't believe you make the rookie mistake of traveling around Mexico with dollars. You are getting short changed 30% min.

KurtG - 3-1-2019 at 10:42 AM

Quote: Originally posted by KurtG  
Quote: Originally posted by Alm  
"The ATMs give the best exchange rates" - is there any proof of that?

My understanding has been that ATM - leaving fees and charges aside - would give you the rate of your NOB bank. If so, - this rate sucks, compared to a good Cambio either NOB or in Mexico.


It is really simple to check. After using the ATM I go to my bank's website to see what I was charged. My bank reimburses me for any fee charged by the Mexican bank. I find the exchange rate to be very close to the xe.com interbank rate. This is better than the casa de cambios' rates.

I never have had a atm card "eaten" but I use bank atm's during bank hours as a precaution. While I always carry emergency cash I find it very convenient to get pesos as I need them from the atm's. I have been doing it this way as long as atm's have existed in Baja.



Update:

Recent experience, Feb 14 using the ATM in the Ley Market in Santa Rosalia my net net peso received rate was 19.01 when XE showed 19.31 rate. I know that personal preferences are involved regarding using pesos or dollars but I prefer to use pesos to simplify transactions and, a personal quirk perhaps, to show respect for our host country. Again, my bank rebates the ATM fee.

sancho - 3-1-2019 at 10:56 AM

Quote: Originally posted by JZ  

Still can't believe you make the rookie mistake of traveling around Mexico with dollars. You are getting short changed 30% min.











I always use pesos, but how is using dll' s equating to
eating 30%? With that math, Pemex, Calimax, etc.
would have to have an exchange rate of 12.50 pesos to the
dll. Previous post has Pemex at 19p. Don't know what the typical length of trip BN take,
today's San Ysidro casa rate is 18.669, the Bloomberg
exchange rate, I believe is a trading, bank rate is 19.300.
One would have to spend a lot of $$$ to get caught
up with the small difference in dll' s or casa exchange rate

David K - 3-1-2019 at 11:25 AM

I find it odd that a couple people here can't understand such simple posts. I have made it so clear that I prefer using pesos but on the rare chance you can't get them or you run out, life isn't over as dollars work everywhere. Geeze Luis, JZ. Can we post something else, and keep photos at 800 pixels max, too? LOL, rookie! No soup for you... NEXT!

Alm - 3-1-2019 at 03:37 PM

Quote: Originally posted by David K  
I find it odd that a couple people here can't understand such simple posts.

And some other people can't understand that everyone's budget is different.
If you are a tourist, you come with intent to spend, spend, spend. People who live there wouldn't agree that being short-changed when you pay in dlls, or $3 charge per withdrawal or 2.5% conversion fine is something to be ignored. Unless they are packed with money - though this happens too, sometimes.

mtgoat666 - 3-1-2019 at 04:13 PM

Quote: Originally posted by Alm  
Quote: Originally posted by David K  
I find it odd that a couple people here can't understand such simple posts.

And some other people can't understand that everyone's budget is different.
If you are a tourist, you come with intent to spend, spend, spend. People who live there wouldn't agree that being short-changed when you pay in dlls, or $3 charge per withdrawal or 2.5% conversion fine is something to be ignored. Unless they are packed with money - though this happens too, sometimes.


It’s only money!

You cant take it with you!

mjs - 3-3-2019 at 10:46 AM

I noticed a recent change with the hsbc atm in the San Felipe Calimax. In the past HSBC has always done the transaction with my bank in pesos and the exchange conversion was done by my bank at a favorable bank rate. My last withdrawal HSBC withdrew the funds from my bank in dollars and did the exchange on their side of the transfer. This amounted to a 5% commission for HSBC on the exchange rate (+ the atm fee). The local cambio and gas stations had a better rate.

May not matter much to some but something to be aware of. This along with increased atm fees approaching $4 or more per transaction means we'll make other arrangements to get our pesos.

[Edited on 3-3-2019 by mjs]

Alm - 3-3-2019 at 01:16 PM

HSBC is a sneaky one. They posted a notice that their "foreign entities" are free to charge for ATM withdrawals whatever they find necessary, even if you are hsbc.us customer. I understand that the exchange rate is normally still set by the US bank where your account is. Maybe this has changed too.

norte - 3-3-2019 at 07:23 PM

I find it amazing that when some people make an observation they immediately declare it fact. Had they gotten an education they would know the difference.

Alm - 3-4-2019 at 12:01 PM

Gotta love blanket statements like this one.