htnfool
Nomad
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Location: Boise, Idaho/Mulege
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Exchanging USD for Pesos?
Heard a rumor that you can't change USD for Pesos 'over the counter' in the banks anymore? I heard that you have to deposit the cash and then write a
check to yourself or something to that effect. Is that true?
Or is it just a rumor? We usually just take a couple hundred dollars into the bank, hand them the money and our passports and get pesosw in return,
No problema.
This sounds to ridiculous to be true, please tell me it ain't so.
[Edited on 11-1-2009 by htnfool]
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DENNIS
Platinum Nomad
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Location: Punta Banda
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| Quote: | Originally posted by htnfool
This sounds to ridiculous to be true, please tell me it ain't so.
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You're talking about Mexico, right? 
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grace59
Senior Nomad
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Registered: 9-14-2004
Location: San Felipe, Baja, Mexico
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See the thread further down the page titled "Handling Money in Baja". Seems from what some said that this is true, but I haven't had any experience
with this.
Whenever I hear that rainy, chill wind blow. I think it may be time to head for Mexico. Tengo que obedecer mi corazon!
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htnfool
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I read the thread. It didn't answer the question enough for me.
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Pescador
Ultra Nomad
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I ain't one of them Baja experts, but the Banamex in Santa Rosalia still lets me change $450 at a time.
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shari
Select Nomad
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Mood: there is no reality except the one contained within us "Herman Hesse"
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We cant change $ to pesos at Bancomer in Vizcaino...have to deposit it into an account...a royal pain and bad for tourism....dennis has a point! as
usual.
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Tano
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If they take dollars down there, it would be interesting going around with a bunch of change and a calculator, and then paying everybody to the penny
according to the exchange rate for the day. Anybody tried it?
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MitchMan
Super Nomad
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Trano, going around with a bunch of change and a calculator, and then paying everybody to the penny according to the exchange rate for the day
wouldn't work. I have tried it. The Mexicans will not, I repeat, will not let you stipulate the exchange rate, even if it is the given internet rate
at the moment. Same thing in Europe. It would be like your setting a price for everything that you want to buy and then expecting the seller to
honor your sales price for eveything that you buy in Mexico or here in the USA. Won't happen in Mexico, Europe, or the USA.
The rest of the world uses the currency exchange difference as a ploy to get more money from you, the buyer. They are banking on the buyers lack of
familiarity with the exchange concept and lack of the buyers ability to rapidly calculate the amount to buy in the foreign currency. I must say that
this works really well for the foreign sellers and they make alot of money off of us Americans consistantly.
The thing for you to do is 1)have a USA B of A checking account and make Peso withdrawals in Mexico from Santander bank ATMs 2)pay for most things in
Pesos 3)frequently ask vendors for their exchange rate to take advantage of opportunities to buy things in USD where the sellers rate is in your
favor (rare).
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bajalou
Ultra Nomad
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Location: South of the broder
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| Quote: | Originally posted by Tano
If they take dollars down there, it would be interesting going around with a bunch of change and a calculator, and then paying everybody to the penny
according to the exchange rate for the day. Anybody tried it? |
If you don't want to pay in the sellers currency, the seller has the right to set the exchange he will accept. The buyer has no rights except to try
to negotiate a better rate.
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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oldjack
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during the last two weeks in Los Barriles, I was able to exchange dls for pesos at Bancomex... only had to show my passport and was limited to
$400/day... they did it with a smile.... the rate was 12.75
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Cyanide41
Nomad
Posts: 303
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Location: Tijuana
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Does anyone know if I open an HSBC account here if I can withdrawl pesos at an HSBC atm in MX with out "extra" fees? I like Mitchman's idea, but I
HATE BofA.
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Hook
Elite Nomad
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I hate B of A too; always have.
But this is the best method for living down here; speaking of the B of A/Santander two-step. When we go stateside, having a firm with as many outlets
as B of A does have it's advantages if you want to cash checks from gringos.
Except, of course, in Colorado where B of As are surprisingly non-existent.
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serwich
Newbie
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Registered: 10-26-2009
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Can you get pesos at a bank in the U.S. before you go down? Say, in San Diego?
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DENNIS
Platinum Nomad
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| Quote: | Originally posted by serwich
Can you get pesos at a bank in the U.S. before you go down? Say, in San Diego? |
You can buy them at Cambios all around San Ysidro. The best cambio rate in your area is inside Costco on Broadway in Chula Vista.
There are also ATMs almost everywhere below the border.
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serwich
Newbie
Posts: 11
Registered: 10-26-2009
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can a guy use pretty much any atm card at those atm's? If so, why all the fuss about getting pesos?
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Udo
Elite Nomad
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The best exchange rate I got before was by exchanging my US $ was at the Chevron gas station just before going into Mexico via Otai.
I have tried twice before to exchange at Baja's banks with no luck, with one exception...the Bancomer in Rosarito.
Udo
Youth is wasted on the young!
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