BajaNomad
Not logged in [Login - Register]

Go To Bottom
Printable Version  
 Pages:  1  2
Author: Subject: Peso prices pegged to the Dollar or ???
Hook
Elite Nomad
******




Posts: 9009
Registered: 3-13-2004
Location: Sonora
Member Is Offline

Mood: Inquisitive

[*] posted on 1-21-2017 at 09:08 PM


Quote: Originally posted by vandenberg  
Get pesos before you cross and use credit card where ever possible They get you the best exchange rate. Tell your bank you're in Mexico.t


This is more than semantics. Don't use a CREDIT CARD, use a DEBIT CARD.

Many ATMs will take a CREDIT CARD, but that is basically a cash advance with big fees from your own bank. Then, the intl transaction fees, the Mexican bank ATM fees are added on top of that. There might not be a worse way to obtain pesos, except maybe a Thomas Cook at a mall or something.

My MIL foolishly had her local Chase branch obtain pesos for her in Colorado, before she came down. I remember the exchange rate, when it was all said and done, was about 15-20% less than the going rate at an ATM. It was highway robbery.

As I've mentioned before, many of the big supermarkets like Walmart, Sorianas, Ley, Mega give really fair exchange rates for using dollars. They can process them easily and it encourages gringos to shop there. It is often right at the best exchange rate I can get at an ATM. They change it daily, to keep it close.

Ged, the dollar is like no other currency in the world. It is accepted in many other countries; actually welcomed by many Mexican businesses, because it holds it's value so well. Not so with the peso or the loonie.

We have tourist shops, marinas, etc. that post prices in dollars only. Supposedly, that's illegal, but they have done it for YEARS, with no repercussions. If they priced in pesos, they would have to be changing prices all the time, to cover the goods they originally obtained in dollars, anyway.
View user's profile
vandenberg
Elite Nomad
******




Posts: 5118
Registered: 6-21-2005
Location: Nopolo
Member Is Offline

Mood: mellow

[*] posted on 1-22-2017 at 07:51 AM


Hook, I'm not talking about using credit card for ATM use, but for restaurants and store purchases. The exchange rate is the same as stated daily by exchange houses and you get the rate of the previous day. And you get your 11/2% for using your card. Usually even better than paying in pesos.



I think my photographic memory ran out of film


Air Evacuation go to
http://www.loretobarbara@skymed.com
View user's profile
Hook
Elite Nomad
******




Posts: 9009
Registered: 3-13-2004
Location: Sonora
Member Is Offline

Mood: Inquisitive

[*] posted on 1-22-2017 at 08:42 AM


True. I misunderstood.
View user's profile
 Pages:  1  2

  Go To Top

 






All Content Copyright 1997- Q87 International; All Rights Reserved.
Powered by XMB; XMB Forum Software © 2001-2014 The XMB Group






"If it were lush and rich, one could understand the pull, but it is fierce and hostile and sullen. The stone mountains pile up to the sky and there is little fresh water. But we know we must go back if we live, and we don't know why." - Steinbeck, Log from the Sea of Cortez

 

"People don't care how much you know, until they know how much you care." - Theodore Roosevelt

 

"You can easily judge the character of others by how they treat those who they think can do nothing for them or to them." - Malcolm Forbes

 

"Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else's hands, but not you." - Jim Rohn

 

"The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer." - Cunningham's Law







Thank you to Baja Bound Mexico Insurance Services for your long-term support of the BajaNomad.com Forums site.







Emergency Baja Contacts Include:

Desert Hawks; El Rosario-based ambulance transport; Emergency #: (616) 103-0262