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bajajudy
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Location: San Jose del Cabo,BCS
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Shocked at Costco
We are just back from a trip to Costco where we found out that you can only use US dollars for $100 of your purchase. We had to put the rest on our
credit card which made the prices higher. There was a sign stating this but we couldnt believe that it was true.
There was also a sign at Home Depot stating the same rule.
How in the world does the Mexican government expect our economy to recover if tourists cannot spend dollars? What kind of business plan includes not
taking your customers' money?
If this is old news......sorry!
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DianaT
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Just curious as to why you were using dollars instead of pesos?
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Bajahowodd
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There's a number of influencing factors involved. Obviously, the Mexican government is hellbent to prevent money laundering by the cartels. Then,
there's the growing reality that the dollar is just not what it used to be. Given that we don't expect merchants in the US to accept foreign currency
in payment at check out, what's the big deal about using pesos to shop? I, for one don't have a problem with this. If I travel to Rome or Athens, I
absolutely do not expect to be able to use dollars in shops and restaurants.
The overriding factor is about the strength of the local currency. I recall a number of years ago haggling with a merchant in Istanbul. At the time,
the Turkish Lira has just been through an awful period of devaluation, and the merchants were eager to get paid in a currency of greater stability.
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Barry A.
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Mood: optimistic
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It has never occurred to me to use anything but Pesos when in Mexico--------I am amazed that folks would be using USA dollars there.
-----but that is just me.!?!?!?!?!? 
Barry
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bajajudy
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We get paid in dollars. The economy here in Los Cabos depends on dollars.
If I were in Rome or Athens, I would not have been surprised that they didnt want my dollars.
edit to add...but I bet that there is not a law that says they cannot take my dollars and that there are probably some places that would take them
And the dollar is weaker than it had been in years against the peso.
I don't have a problem with using pesos and when people pay us in pesos, we use them eagerly.
[Edited on 11-15-2010 by bajajudy]
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mcfez
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Mex Govt is trying to damper money laundering by the cartels. ....take away their cash buying power...good step.
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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ricewhite
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It's been all over the news here in the US lately. Mexico passed a new law in October limiting the amount of US dollars that can be accepted. The
limit is $100 for any purchase at one time, and $1500 per month if you're there for a longer period of time. The purpose is to clamp down on money
laundering by the drug cartels, most of which is done in US dollars. Use your debit card at cash machines instead and get pesos. You can get a cash
machine card that does not charge an international fee -- I have one through Fidelity that is connected to a checking account with them, also a no-fee
account. We don't accept pesos in the US or Canada, it's reasonable they wouldn't accept dollars, even though they used to.
Cathryn
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C-Urchin
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Dollars
| Quote: | Originally posted by bajajudy
If I were in Rome or Athens, I would not have been surprised that they didnt want my dollars.
edit to add...but I bet that there is not a law that says they cannot take my dollars and that there are probably some places that would take them
[Edited on 11-15-2010 by bajajudy] |
No one cares about dollars anymore. That time has gone...
*Be the man your dog thinks you are
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DianaT
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| Quote: | Originally posted by bajajudy
We get paid in dollars. The economy here in Los Cabos depends on dollars.
If I were in Rome or Athens, I would not have been surprised that they didnt want my dollars.
edit to add...but I bet that there is not a law that says they cannot take my dollars and that there are probably some places that would take them
And the dollar is weaker than it had been in years against the peso.
I don't have a problem with using pesos and when people pay us in pesos, we use them eagerly.
[Edited on 11-15-2010 by bajajudy] |
That makes sense---you get paid in dollars, that is what you spend---slapping myself on side of head now as I did not think about that. 
Since using your dollars is getting more and more difficult, even with the banks, let's hope more people will pay you in pesos. 
[Edited on 11-15-2010 by DianaT]
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DianaT
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| Quote: | Originally posted by ricewhite
We don't accept pesos in the US or Canada, it's reasonable they wouldn't accept dollars, even though they used to.
Cathryn |
In Calexico, California one can spend pesos anywhere, including at the Wal-Mart and large grocery stores. Made it easy when we lived there---return
from Mexico and no need to exchange back to dollars.
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rts551
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If you are making the dollars in Mexico from a legitimate business...Why not deposit them in the bank and then spend pesos.
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mcfez
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| Quote: | Originally posted by DianaT
| Quote: | Originally posted by ricewhite
We don't accept pesos in the US or Canada, it's reasonable they wouldn't accept dollars, even though they used to.
Cathryn |
In Calexico, California one can spend pesos anywhere, including at the Wal-Mart and large grocery stores. Made it easy when we lived there---return
from Mexico and no need to exchange back to dollars.
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I didnt know that! Been going thru there for ten years :-(
Asuncion shari.......you folks taking USD?
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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BajaBruno
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It's hard to believe this law would affect the cartels. If they want to convert dollars, they would just set up a bunch of casa de cambios and
launder the dollars through them. Or, extort a bank manager to convert the dollars on the side, or fly a load of dollars to Guatemala or Belize to
convert them there.
This does nothing but inconvenience casual tourists and residents like Judy.
Christopher Bruno, Elk Grove, CA.
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lizard lips
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I use dollars at Cosco here in Ensenada. They give you current rate of exchange.
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sanquintinsince73
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If China has it's way we are all going to be using the Chinese Yuan soon.
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bajabound2005
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Mood: words cannot describe...
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| Quote: | Originally posted by rts551
If you are making the dollars in Mexico from a legitimate business...Why not deposit them in the bank and then spend pesos. |
I believe that dollar deposits are also limited by the new law.
Friends don't let friends drink white zinfandel.
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shari
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Mood: there is no reality except the one contained within us "Herman Hesse"
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Yes, we accept dollars here but as stated above, we can only deposit about $1,200 a month in one account...then anything above that we pay a 3% tax on
the dollar deposits...a royal pain. But we use the $ to buy things we need from the states.
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Eli
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I am with Judy, this is an inconvenience to those who deal in the tourist trade, we are very close to the U.S. and our clients come down here
expecting to use their dollars, just because they always have. Even with reflection given to the fact that one can not just go into a store in
California with pesos and expect them to be received.
I will be going home in a couple of weeks and I am curious how this affects the Cafe next to my gallery. The owner has always appreciated receiving
the Dollar as the principal importer that she buys the bulk of her groceries from works in Dollars. So, I am wondering how that is working now. I
receive a minimal amount of Dollars in the gallery and have always been able to trade them with her or other sources, it will be interesting to see
the changes affected this year.
So Judy, I was wondering, do you buy most of your books from the States? If so, do you use a Mexican Dollar bank account to do your buying or how does
that work?
I agree that this will have little affect if any on The Cartels, they will find a way, they always do.
Sara
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bajajudy
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Eli, Yes we buy 95% of our books from the states and we keep an account open in the states for that. Here we have both. (of course yesterday was
Sunday and today is a bank holiday so making a deposit was not an option)
I have since heard that the restaurants here are making a copy of your passport if you want to pay your bill in dollars and it is over $100. Who
brings their passport to dinner?!?!?!?!
I have also heard that some of the golf courses are not taking dollars at all.
BTW another Costco alert..............they were out of toilet paper
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Eli
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Mood: Some times Observing, sometimes Oblivious.
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No T. P. , now we know things are going down hill, that's just ridiculous!
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