Germanicus
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Registered: 6-13-2004
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money exchange > where and what ?
Hi Folks,
I am a newcomer to this forum and, guess what, I do have a question.
At least for the moment only one.
It is about money exchange.
I heard that traveller checks are not the best choice for to go to BCS.
It was said that most Mexican stores or banks believe they are stolen.
O.K., I can live with that.
So?
Cash?
Why not?
I'm not afraid to carry cash.
Now the question:
Where to change?
Inside the U.S.
Or inside Mexico?
Is the exchange rate the same?
Are there any possibilities in BCS like private changing for better rates than the banks???
Any other suggestion?
Yes I am using a credit card, but only if absolutely neccessary.
Don't shoot at me if the question is silly!
Y'all have a nice day!
Germanicus
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Me No
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Try not to use your credit card. Too many potential problems. Use the atm's to get cash, they give you the latest exchange rate and usually only
charge about 3bucks. If you have to use your credit card do so at only "reliable" places, like for your hotel room, or a rental car. The casas de
cambio charge as much as 10%. Ouch.
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bajalou
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ATM
Like Me No said, ATM is the only way to go. The rate you get is better than the Cambio's and only about a $3 fee to your bank. Credit cards can not
be used for cash advances inside Bancomer. If you can use one in the ATM with a pin you also can get money that wat - But ATM's the way to go. You
almost always do better paying with pesos versus dollars. I usually have both and if the bill is in dollars pay in dollars, if pesos pay with them.
No disagreements about exchange rates.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
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jrbaja
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I use Banamex
and go to the tellers and it doesn't cost anything. I assumed all banks were the same in that respect.
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bajalou
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Sorry JR Bancomer says got burned too many times - thru the machine or nothing. At least here. Oh, the fee is for my bank, not the mexican one.
[Edited on 6-14-2004 by bajalou]
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
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wilderone
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I would still exchange some money on the U.S. side at the border, in small denominations. You don't say whether you're flying into some major town,
or driving through the many smaller ones which may not have banks or ATMs. And banks are usually not open on weekends.
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FrankO
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Atm at the 3rd tollbooth on the way into Ensenada. No fee. If not there just across from the Hotel Marina on the main drag Just past the bandera
gigante.
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Germanicus
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Folks, > many thanks for your info.
Everything is usefull.
To answer that question about flying or driving:
We are "first-time-baja-drivers".
We want to buy a 5th-wheeler and then going for 1/2 year or so to look for a place where we can settle down later.
We > that's my wife and possibly our son, want to look for a nice place we can buy, some land, and construct an RV-Park with lots of amenities like
swimming pool, bar-on-the-beach, BBQ-restaurant, etc.
So as we never experianced the Baja, (but we love it already, mainly because of the nice people!!) we need all the info we can get for sure.
By the way, this is the most frequently visited forum of all the baja foren.
We visited many others, none of them is as good as this one.
Nice people even here > helpfull and nice!
THANX A LOT TO ALL OF YOU.
Y'all have a nice day
Germanicus (because I'm a German)
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jrbaja
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With plans like those,
I recommend stopping in Ciudad Constitucion and talking to Manfred and his wife. I believe they are German, they have an RV Park right there and have
been doing it for years. They are interested in selling and you guys seem to have a lot in common.
Manfreds RV Park. North end of Ciudad Constitucion. I will try and find some contact info. for you.
And, unless you have a LOT of patience as far as starting and running a business, you are doing the right thing by spending some time down here
checking it out PRIOR to making any commitments.
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Germanicus
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hey jrbaja,
thanx for your encouraging post.
Well, we want to look at everything first.
And if I say everything, I mean it.
If it takes more than 1/2 year > fine, than it takes more.
On that RV place in Ciudad Constitucion,,,,, well even if it's run by a German, we do have different plans.
BUT I defenately will see/meet Manfred.
So far thanx for that tip.
We are looking for some property near the water ( who doesn't???) Our plans are: making the place VERY nice.
What I said, with bar (and I mean a real bar with gooooood beer(German and Mexican and lots of other good stuff) next to the water (as close as
possible)
The RV place in C.C. is more for one night tourists.
We are looking foreward to run a place for year-round renters.
That's why we'r thinking about all the amanities to construct.
Maybe a tennis court, swimming pool, BBQ place > as I said it.
Idea is > but not determined yet < between Todos Santos and Cabo or West of La Paz or between Loreto and Santa Rosalia.
Again > looking as long as necessary.
Anyway, I got to repeat: many good fokls in this forum and many good ideas to a question.
Thanx again to all of you.
Germanicus
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Mike Humfreville
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The one thing missing...
in all the above suggestions: You need to learn the Mexican regulations about what foreigners, even though living and investing in Mexico, can and
cannot legally do. Living in Los Angeles most of my life I have watched many friends loose small fortunes simply because they didn't know the rules
in Mexico. Cuidado con sus dolares amigo! Good luck.
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jrbaja
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Not always true
But what Mike says is quite common so know ALL the facts, professionally, through legal channels that have been investigated prior to any
transactions.
Same as anywhere basically!
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Me No
Banned
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Start reading the Gringo Gazette. Lots of good info there on real estate issues. You will need a lot of info to do what you are talking about.
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Germanicus
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this goes now from one toppic to another, but I like it and have to say 'thanks' to you guys.
I learned already that Mexico is quite different than the U.S. of even Germany.
Well and on the other hand, one needs to know the rules and regulations and laws of a foreign country anyway if one wants to live there.
I do have the chance to have a Mexican Consulate nearby(San Antonio/TX)
I will ask them a lot of questions, believe me, guys.
The most concern I have is to find a reliable Real Estate agent.
On the other hand I wouldn't buy anything without a lawyer checking the background.
Question is: How reliable is the lawyer?
For that to determine I do know a company called CAMEXA. (camexa.com.mx)
These guys are offering advise in nearly everything.
BUT: You gotto be a member with $1,000 yearly fee. > rediculous or is it worth the bucks for not making any other/major mistake?
what do you guys think?
I know that I have to purchase the land through a bank-trust.
And the bank will do the research on the title policy etc.
But again > jrbaja, I will see Manfred as you suggested.
One only can learn from a guy who did the same as you want to do.
The mistakes he made ,,,, hopefully he is telling me those.
Mike, you are saying what's basicly true.
But, I guess, that's true for every foreign country.
Maybe a lill more in Mexico, maybe.
Me No, I saw the Gringo Gazette mentioned somewhere in the i-net.
Please gimme a hint where that was. I lost it.
Well and in general, that's why we want to live in BCS before making a final decission about the location.
The decission to do "it", is already final.
We love the Baja, we love the people, do have a lot of Mexican friends around here,
so???
Nothing can stop us.
We just need to "breathe" the baja in reality.
Is there any suggestion from you guys what needs to be done - what maybe the Consulate won't tell us???
I mean, there are always some hints and tips an official gouvernment department won't tell you.
Thanx again to all of you and come up with your ideas, please.
We highly appreciate any input as we have to learn EVERYTHING.
Kind Regs
Germanicus
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jrbaja
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Do you speak Spanish ?
I know a well known notary (almost like God) in La Paz. He has handled many land transactions for me and people I know over the last decade and he is
very honest and straight forward.
But, it depends on where you decide to live.
There is also a lady here in Rosarito who not only is a notary but her daughter works for immigration. "Dos pajaros, un solo tido!
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bajalou
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A thing to remember that while the Consulate might have information and know the laws of Mexico, it's the local government officials (imigration,
customs, etc.) that apply them and sometimes there is a world of difference.
Find your area - check with local officials & Notario's etc. Believe bank trusts are for residential and a Mexican Corporation is nessesary for
business. But don't trust me - check with a Notario and the local government officals.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
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Germanicus
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Posts: 214
Registered: 6-13-2004
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well, I got to admit > at this time we do not speak Spanish.
BUT: We hired a local Mexican to teach us the basics before ever stepping into such an adventure.
> bajalou: I gotto check into that what you said about business got to be done by an corporation.
>jrbaja: as I do not trust God(only relay on myself)it would be maybe good to know somebody I can trust.(you said:"almost". that's o.k. than)
so who is that guy?
I will write it down and if needed>contact him/her.
Again,folks, every hint is appreciated!
Germanicus
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