BajaNomad

La Paz casas de cambio

fatchance - 5-3-2021 at 09:52 AM

I need to buy pesos in LP. My bank nicks me on foreign transaction fees so I would avoid using ATM this time. Any suggestions on banks or casas de cambio for the best tipo de cambio?

Cancamo - 5-3-2021 at 10:33 AM

Not sure if there is a branch of "San Jorge" casa de cambio in La Paz, (many branches in the Republic).

Good exchange rate, regularly used for those without local bank accounts to exchange currency.

rhintransit - 5-3-2021 at 11:03 AM

Banks won’t change dollars unless you have an account with them. Best to get a credit card with no foreign money charges. Even then you will be hit with an ATM fee from the local bank. Wells Fargo has an Express Send agreement with BBVA where you can send money from your USA account, to yourself, or anyone else, on line. It has to be set up in the US first. Good exchange rate and only a 5 dollar transaction charge. Maybe other banks have similar arrangements. Check with yours.

Bajabus - 5-3-2021 at 11:26 AM

On a recent 15,000 peso ATM withdrawal from my credit union I incurred the following:



    757.92 USD deducted from account.
    49 pesos charged by Banorte in TS.
    7.58 USD charged by my bank.


I thought it convenient and reasonable. It seems that Casas de Cambios are all over the place in terms of their exchange rates and fees.

I have yet to investigate the $5 wire to a Mexican bank trick but it sounds intriguing.

Cancamo - 5-3-2021 at 12:46 PM

For ATM exchanges, Schwab Debit Card is the go to as no in house fees, and all outside bank fees are refunded by Schwab.

Just remember to deny the exchange rate offered by the ATMs now by clicking on the box on the lower left, (usually an additional 5% or more to the bank), the transaction goes through as intended with the better exchange rate.

After simple registration at Casa De Cambio "San Jorge", they give a very good exchange rate for larger exchanges, better than most banks.

Bajabus - 5-3-2021 at 02:28 PM

Quote: Originally posted by Cancamo  
For ATM exchanges, Schwab Debit Card is the go to as no in house fees, and all outside bank fees are refunded by Schwab.

Just remember to deny the exchange rate offered by the ATMs now by clicking on the box on the lower left, (usually an additional 5% or more to the bank), the transaction goes through as intended with the better exchange rate.

After simple registration at Casa De Cambio "San Jorge", they give a very good exchange rate for larger exchanges, better than most banks.



I wonder if Fidelity does the same.