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Gerald
Junior Nomad
Posts: 35
Registered: 8-17-2009
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Dollars to Pesos exchange rate
What is the best method to get pesos for my dollars when
going from US to Mexico? Out of the box methods are ok..
Gerald
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woody with a view
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use a mexican atm and get enough the first time to keep the conversion fees low.
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DENNIS
Platinum Nomad
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Exactamundo. Either that or hold up OXXO Markets on your way south. That always works for a lot of folks here.
Glad I could help. 
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David K
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Costco Chula Vista off I-5, go east at Palomar, during store hours if you are a member, has a money exchange teller inside... no fee/ commission.
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BajaBlanca
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Location: La Bocana, BCS
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if coming south out of san diego via TJ, the last or 5th toll booth (I am pretty sure it is the 5th) has an ATM and a little store for drinks/food
and a restroom. That is where we exchange our money as soon as we cross.
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SoCal-Bob
Junior Nomad
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| Quote: | Originally posted by David K
Costco Chula Vista off I-5, go east at Palomar, during store hours if you are a member, has a money exchange teller inside... no fee/ commission.
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Do you know what currency exchange rate Costco uses to set their rate? Do they have a minimum/maximum amount they will exchange?
do all costcos have this service, just Chula Vista, or those closest to the border?
thanks
(sorry for the hijack)
[Edited on 10-19-2010 by SoCal-Bob]
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woody with a view
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they won't give you the best rate. good, but not the best. they have a margin in there somewhere. also, you don't need to be a member.just walk up. no
minimum but there is a max. call them.
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Bajahowodd
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Posts: 9274
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Location: Disneyland Adjacent and anywhere in Baja
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I'm gonna be just a bit cranky here. I certainly realize that no one, including myself would consciously seek to be taken advantage of. But, in all my
years traveling to Baja, and the time I've spent posting on this board, I just don't get why so many people have to feel like they have to get the
absolutely best exchange fate all the time.
I've always entered Mexico with a handful of leftover pesos for the toll road, or use dollars if I need to. Headed South, I've always gone to an ATM.
And as Woody noted, at an ATM, take as much out as you can, or think you need just to cut the bank fees.
I guess everyone has their own set of priorities, but for me, I just cannot see making a separate trip to a Costco. Just figure that I'm on vacation.
Having to worry about a couple of bucks takes away that vacation feel. Lord knows, I end up spending a bundle of bucks. $10- $15 more dollars is not
going to ruin my vacation.
Ex-pats living in Mexico are there for the lower cost of living. But folks on vacation really shouldn't be making Mexico a choice only for the
conversion rate.
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DENNIS
Platinum Nomad
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| Quote: | Originally posted by SoCal-Bob
Do you know what currency exchange rate Costco uses to set their rate? Do they have a minimum/maximum amount they will exchange?
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Most Cambios along the border sell Pesos for app. two percent below the bank rate.
The one in Costco is a customer service, but most in Mexico have other functions, such as short term, high interest loans as the banks don't do that.
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DENNIS
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| Quote: | Originally posted by Bajahowodd
I just cannot see making a separate trip to a Costco. |
What??? Is there such a thing?? It's Costco. Who could ever walk into a Costco and say they don't absolutly need something or other?
When I go into a Costco with a friend or whatever and really don't need anything, it'll cost me a hundred bucks. 
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woody with a view
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| Quote: |
Ex-pats living in Mexico are there for the lower cost of living. But folks on vacation really shouldn't be making Mexico a choice only for the
conversion rate.
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i have a friend who uses the 10-1 rate when planning his trips and paying in dollars. either he does't care about the difference or won't take off his
shoes to do the math.....
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BajaBlanca
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Location: La Bocana, BCS
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the only costco to offer the exchange, as far as I know, is the LAST one in Chula Vista, right before you cross the border. I personally think this is
a great stop as you can get the money changed really fast, safe (esp as a female exchanging moola) and if you forgot to buy something - you are set.
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DENNIS
Platinum Nomad
Posts: 29510
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| Quote: | Originally posted by Bajahowodd
Ex-pats living in Mexico are there for the lower cost of living. |
I, for one, am not. It's a good thing too. Looking for that bargain will most often lead to frustration.
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Bajahowodd
Elite Nomad
Posts: 9274
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Location: Disneyland Adjacent and anywhere in Baja
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| Quote: | Originally posted by woody with a view
| Quote: |
Ex-pats living in Mexico are there for the lower cost of living. But folks on vacation really shouldn't be making Mexico a choice only for the
conversion rate.
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i have a friend who uses the 10-1 rate when planning his trips and paying in dollars. either he does't care about the difference or won't take off his
shoes to do the math..... |
Have to laugh at that one, Woody. We just spent a couple of week SOB with some newbies who really had major difficulty with foreign currency. We
finally had to just tell them that if they knocked of one zero, they'd be close. Nevertheless, I believe there are some beach vendors in Cabo who had
their best week in years. 
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toneart
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I usually stop at one of the several currency conversion booths just before crossing the border. They are in San Ysidro and also the U.S. side of
Tecate. They post their rates. It is best to be cognizant of the current market conversion rate, and be sure to count out your money in front of the
clerk before you leave.
Baja does not want to take our dollars any more, and banks won't convert for you unless you are their customer. It is best to carry and use only
pesos.
Before you go, find out if your bank has affiliates in Baja that do not charge you a service fee at an ATM. Many do!
ATMs are the way to get pesos, even if you have to pay the fee.
I usually have some pesos stashed from my last trip. That will cover tolls, gas and maybe a meal, and then I stop at an ATM in Ensenada. 
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bajaguy
Elite Nomad
Posts: 9247
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Location: Carson City, NV/Ensenada - Baja Country Club
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Mood: must be 5 O'clock somewhere in Baja
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Stop at the Commercial Mexicana in Ensenada, next to the COSTCO......use the ATM and pick up those last minute items...safe and secure
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Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
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get pesos here
no fees
no club membership
best rate
lots of good parking
the rate is a little lower in ensenada
but not by much
they also sell insurance if you "forgot"
to get it online at "bajabound"
[Edited on 10-20-2010 by Bob and Susan]
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krafty
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If you have a BofA acct. you can get pesos at Santander no charge-Bajahowodd, I agree with you-go on holiday and worry about "how much you are losing"
after your trip. Enjoy!
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Trueheart
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I agree pretty much with Baja Blance and Dennis. I choose Costco. I feel safe there, I get exact denominations I want, and I get to pick up any last
whatevers. Then, I don't concern myself with exhanging again, cuz I get enough in one whack to last me throughout my trip. FYI ... last trip I made
about $60 on the exchange "in then out" of Baja. I really didn't care, but it did bring a smile to my face. Once you get a hang of what fits best
for you, then run with that method. I don't care to spend too much time thinking about maxing out the rate, as you can drive yourself crazy. A
little homework is ok, but a lot of it doesn't merit.
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schwlind
Nomad
Posts: 362
Registered: 8-30-2008
Location: Daytona Beach, FL/San Antonio Del Mar (Colonet)
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| Quote: | Originally posted by krafty
If you have a BofA acct. you can get pesos at Santander no charge-Bajahowodd, I agree with you-go on holiday and worry about "how much you are losing"
after your trip. Enjoy! |
On my last trip to Baja earlier this month (thanks to previous threads on this forum) I went to the ScotiaBank at the Walmart/Home Depot Shopping
Center in Ensenada. I have a US BOA account and for the first time... withdrew 6000 pesos using my US BoA ATM card with NO FEES WHATSOEVER! I was
so, so happy. Lots of parking... no fuss, no muss! Your daily limit is based upon your US BoA limit. The exchange rate at that time was about
12.50p to $1....
[Edited on 10-20-2010 by schwlind]
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