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yellowklr
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Buying Pesos
Can someone please tell me the current Rate to BUY pesos at a Mexican Bank.......
I know the offical Exchange rate is around 11.67 but I want to know what the banks are selling pesos for.
Thanks
Derek
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sanfelipebob
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buy 11.10 sell 11.80
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baronvonbob
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Bank sells you 11.10 pesos for one dollar
Bank buys 11.80 pesos and gives you one dollar
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Pescador
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If you go to: http://www.banamex.com/index.htm You will get the current days exchange rate.
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bajagrouper
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Banamex is one of many banks that posts their exchange rate for the day...check 10 different banks and get 10 different exchange rates....There is one
place that makes the exchange rate offical, and it is posted on their website: http://www.banxico.org.mx/
Banco de Mexico is like the US Treasuary Dept........
I hear the whales song
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J.P.
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jjJust use your A T M card you get best exchange rate. If you have to sweat the atm surcharge you probably dont need to be here.
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yellowklr
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| Quote: | Originally posted by J.P.
jjJust use your A T M card you get best exchange rate. If you have to sweat the atm surcharge you probably dont need to be here.
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Nice response
Who is sweating ATM fees????
Derek
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dtbushpilot
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Last time I got pesos from the atm machine they charged me 21 pesos to get 5000 and even had the nerve to ask me if I wanted to make a donation to
something. It was in Spanish and I don't know what it was for but at least there was a button to push that said "no donation".
Boy, this MX thing is getting out of hand, every time I turn around someone has their hand in my pocket. I don't know about the rest of you but I've
had enough....I'm moving back to San Luis Obispo..... ..
Just kidding.....get your pesos at an atm, preferably one at a bank where the security may be better. DO NOT use the machine if there is someone else
in the room and don't let someone "help you" with anything....but you already knew that........dt
btw: if you don't have an account at a MX bank they probably won't exchange dollars for pesos for you. Be sure to have your passport and smile a lot
to have any chance of exchanging dollars for pesos at a bank.....
[Edited on 5-24-2011 by dtbushpilot]
"Life is tough".....It's even tougher if you're stupid.....
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yellowklr
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With my atm card I get charged 20 pesos plus 2% so no bueno.......
I've had NO problem in Bancomer walking in and getting the exchange. Just wondered what it was. This summer I need to take a day and just go open
an account at Bancomer, will make life easier.
Thanks for the help everyone
Derek
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bajaandy
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Just go to your local bank and buy them. Wells Fargo sells Pesos currently for 10.93/U.S. Dollar. Can you get a better rate? Sure you can. Are you
buying enough pesos to make it worth it? Doubtful. I like buying Pesos before I go to Mex because it's just one less thing to have to stop for when I
get there.
subvert the dominant paradigm
"If you travel with a man, you must either fall out with him or make him your good friend."
JBL Noel
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yellowklr
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| Quote: | Originally posted by bajaandy
Just go to your local bank and buy them. Wells Fargo sells Pesos currently for 10.93/U.S. Dollar. Can you get a better rate? Sure you can. Are you
buying enough pesos to make it worth it? Doubtful. I like buying Pesos before I go to Mex because it's just one less thing to have to stop for when I
get there. |
Costco in Chula Vista is selling pesos for 11.15
Like you said I'm normally not buying enough for the rate to matter much
Derek
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dtbushpilot
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I don't even consider the rate, I stick in my card and take what they give me......like sheep over a cliff....guess I have other things to worry
about.....on second thought, guess I don't worry about much when I'm in Baja.
I have a Wells Fargo account in the US and a Bancomer account in MX. They have some sort of alliance and once you set up the accounts that you want to
transfer money through you can do it with the click of a button.
I can transfer money from my WF US account to my Bancomer account, drive to the bank (15 minutes) and withdraw it (during regular business hours).
Don't know how they do it or what the exchange rate is or care for that matter, it is always a good deal...
Am I getting off the topic? I think I did that on another post too. ....dt
"Life is tough".....It's even tougher if you're stupid.....
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yellowklr
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| Quote: | Originally posted by dtbushpilot
I don't even consider the rate, I stick in my card and take what they give me......like sheep over a cliff....guess I have other things to worry
about.....on second thought, guess I don't worry about much when I'm in Baja.
I have a Wells Fargo account in the US and a Bancomer account in MX. They have some sort of alliance and once you set up the accounts that you want to
transfer money through you can do it with the click of a button.
I can transfer money from my WF US account to my Bancomer account, drive to the bank (15 minutes) and withdraw it (during regular business hours).
Don't know how they do it or what the exchange rate is or care for that matter, it is always a good deal...
Am I getting off the topic? I think I did that on another post too.....dt |
cool I like the Wells Fargo-Bacomer Idea
Derek
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Bob and Susan
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american and mexican banks di not work together
no matter what they say
it doesn't work
if you transfer money...you pay
nobody rides for free
take my word on this
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Bajajorge
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| Quote: | Originally posted by yellowklr
| Quote: | Originally posted by J.P.
jjJust use your A T M card you get best exchange rate. If you have to sweat the atm surcharge you probably dont need to be here.
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Nice response
Who is sweating ATM fees???? |
Depending on your bank, that is how much the ATM charge is. The charge by the Mexican bank is a percentage of the amount you draw. BofA charges $5.00,
and I think Wells Fargo is the same. My Credit Union charges 30 cents, guess which card I use at the ATM?
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Bajatripper
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| Quote: | Originally posted by dtbushpilot
I don't know about the rest of you but I've had enough....I'm moving back to San Luis Obispo.......
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If I had a place in San Luis Obispo, I'd have to give it serious consideration--and I wouldn't care if they were paying 15 pesos a dollar. What a
great place to have lived.
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Bajatripper
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| Quote: | | The charge by the Mexican bank is a percentage of the amount you draw. |
Don't think this is correct. It seems to me that the screen tells me how much they're going to nail me for up front, before I tell it how much I want.
But, as is always the case, I could be wrong.
Even so, I remember what travel abroad was in the pre-ATM days and can say I'd pay a lot more for the convenience of not having to carry all my cash
everywhere I go. Can one imagine what highway holdups would be like in this time of crisis if each of us were a rolling wad of cash?
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bajagrouper
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Location: Rincon de Guayabitos, Nayarit, Mexico
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| Quote: | Originally posted by Bajatripper
| Quote: | | The charge by the Mexican bank is a percentage of the amount you draw. |
Don't think this is correct. It seems to me that the screen tells me how much they're going to nail me for up front, before I tell it how much I want.
But, as is always the case, I could be wrong.
Even so, I remember what travel abroad was in the pre-ATM days and can say I'd pay a lot more for the convenience of not having to carry all my cash
everywhere I go. Can one imagine what highway holdups would be like in this time of crisis if each of us were a rolling wad of cash?
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Sometimes folks use their credit card in the ATM so added to the ATM fee is the International Money Exchange charged by the credit card co. of 3% of
the withdraw ...
I hear the whales song
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longlegsinlapaz
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Location: La Paz
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| Quote: | Originally posted by Bajatripper
| Quote: | | The charge by the Mexican bank is a percentage of the amount you draw. |
Don't think this is correct. It seems to me that the screen tells me how much they're going to nail me for up front, before I tell it how much I want.
But, as is always the case, I could be wrong. |
In this instance, in the La Paz area, you are correct. It is a flat fee, not a percentage. But don't let it go to your head!
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Bajatripper
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| Quote: | Originally posted by Bob and Susan
american and mexican banks di not work together
no matter what they say
if you transfer money...you pay
nobody rides for free
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I'd have to say "no," and "yes, you're right." The fact that dt can (if I understood correctly) go online in Mexico and access his U.S. bank website,
transfer money from his U.S. bank account into his Mexican bank account with the click of a button, and then drive down to his Mexican bank's ATM and
withdraw that money in 15 minutes during normal working hours seems to me would involve considerable cooperation between U.S. and Mexican banks.
I've tried doing this between banks with no such agreement and found it easier to drive from La Paz to San Diego, cash the damn check, and drive back
down to deposit the money in my Mexican bank account (they wanted to put a one-year hold on the funds "to make sure the check cleared." Yeah, right!)
But you surely pay for this convenience, as you stated.
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