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mrfatboy
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Buying Peso advice
I called Wells Fargo to ask them what their peso rate was today. It was 1 usd x 11.58 pesos. Typically I just use an ATM if need be but I need some
ibefore I cross the border for the cab to the TIJ airport.
Is this rate typical and/or fair? I thought it was around 1 x 12.5 now.
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DENNIS
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At this moment, 4:50PM, Yahoo Finance lists it at 12.35.
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mrfatboy
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Yes, that's the published rate but what is the typical rate at the cambios and such? I'm also talking about the buy rate not the sell rate.
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DENNIS
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| Quote: | Originally posted by mrfatboy
Yes, that's the published rate but what is the typical rate at the cambios and such? I'm also talking about the buy rate not the sell rate.
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The competitive Cambios charge the bank rate less two percent. I've always found the bank rate to be near or equal to the published rate.
Actually, I don't even look anymore. When I need Pesos, I go to the ATM. Life's too short to be counting centavos.
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mrfatboy
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That's why I'm asking. Wells Fargo is 11.5 now. If I did my math correctly they are taking a mordita of 8%. It doesn't seem like a good rate if I
can get 12.5 somewhere else.
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DENNIS
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| Quote: | Originally posted by mrfatboy
That's why I'm asking. Wells Fargo is 11.5 now. If I did my math correctly they are taking a mordita of 8%. It doesn't seem like a good rate if I
can get 12.5 somewhere else. |
I was kinda thinking the 11.5% was a misprint. It's way out of line.
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mrfatboy
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Nope. Wells is at 1x 11.5. Complete ripoff of you ask me. Plus they that would be the rate if I used an ATM. I always thought the ATM's gave a
competitive rate. Wells is just way off on this one.
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Oggie
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We have used the Costco on Broadway in Chula Vista. No Drama and good rates.
A man never stands as tall as when he kneels to help a child.
Knights of Pythagoras
Funny how falling feels like flying
for a little while - Bad Blake
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Howard
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I was at the bank in Loreto this afternoon (not geting pesos) and I just happened to ask the assistant manager, by the way, what is the exchange rate
and he replied, "around 11.9."
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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durrelllrobert
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11.5 is wrong
I just withdrew 6000 pesos from my Wells Fargo account which cost me $488.75 including the HSBC ATM fee. That's 12.28 to 1 USD.
Bob Durrell
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wilderone
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TJ cab drivers will take dollars.
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DENNIS
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| Quote: | Originally posted by wilderone
TJ cab drivers will take dollars. |
Stuck on 10 to 1 or worse, I'd be willing to bet, but you're right. They will.
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mrfatboy
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| Quote: | Originally posted by durrelllrobert
I just withdrew 6000 pesos from my Wells Fargo account which cost me $488.75 including the HSBC ATM fee. That's 12.28 to 1 USD.
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Please correct me if I'm wrong. This is the rate wells quoted me over the phone. 11.5
https://www.foreignexchangeservices.com/index.html?partnerid...
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Bajaboy
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| Quote: | Originally posted by mrfatboy
| Quote: | Originally posted by durrelllrobert
I just withdrew 6000 pesos from my Wells Fargo account which cost me $488.75 including the HSBC ATM fee. That's 12.28 to 1 USD.
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Please correct me if I'm wrong. This is the rate wells quoted me over the phone. 11.5
https://www.foreignexchangeservices.com/index.html?partnerid... |
I'm guessing that's in the branch.
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mrfatboy
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| Quote: | Originally posted by Bajaboy
| Quote: | Originally posted by mrfatboy
| Quote: | Originally posted by durrelllrobert
I just withdrew 6000 pesos from my Wells Fargo account which cost me $488.75 including the HSBC ATM fee. That's 12.28 to 1 USD.
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Please correct me if I'm wrong. This is the rate wells quoted me over the phone. 11.5
https://www.foreignexchangeservices.com/index.html?partnerid... |
I'm guessing that's in the branch. |
That's if I went to the branch or ordered them online.
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RnR
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Yep, Wells Fargo, in the US, offers a horrible rate.
It has always been about 10% lower than the exchange rates posted in on-line info sites on any given day. I didn't believe it when I was checking
10-15 years ago. If the current commission is only 8%, that's an improvement but still a horrible rate.
Always just used casa de cambios near the border. Now, ATM's after crossing into Mexico.
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wilderone
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"Stuck on 10 to 1 or worse"
An exchange rate is not an issue. You approach one of the 50 cabs you see, you tell them you're going to the airport and will pay $10.00. As you
enter from the US side there is a placard with taxi rates in dollars posted for a few destinations. These fares are posted so tourists know about what
to pay. They are negotiable. Last October I paid $8.00 on two occasions for a ride to the central bus station ($10 with tip - two people).
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DENNIS
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| Quote: | Originally posted by wilderone
"Stuck on 10 to 1 or worse"
An exchange rate is not an issue. |
At some point in the negotiations, it can become a moral issue, but looking to a TJ cab driver for fairness just shows you how things have changed
down here. 
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durrelllrobert
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What they quoted included SHIPPING to your address
| Quote: | Originally posted by mrfatboy
| Quote: | Originally posted by durrelllrobert
I just withdrew 6000 pesos from my Wells Fargo account which cost me $488.75 including the HSBC ATM fee. That's 12.28 to 1 USD.
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Please correct me if I'm wrong. This is the rate wells quoted me over the phone. 11.5
https://www.foreignexchangeservices.com/index.html?partnerid... |
This is not the rate you get if you go into the branch:
"All currencies in your order will be sent in one shipment. Currency can only be shipped to the address associated with your account. You must be
available at that address to sign for the package. We do not deliver to P.O. boxes."
[Edited on 3-27-2013 by durrelllrobert]
Bob Durrell
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mrfatboy
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| Quote: | Originally posted by durrelllrobert
| Quote: | Originally posted by mrfatboy
| Quote: | Originally posted by durrelllrobert
I just withdrew 6000 pesos from my Wells Fargo account which cost me $488.75 including the HSBC ATM fee. That's 12.28 to 1 USD.
|
Please correct me if I'm wrong. This is the rate wells quoted me over the phone. 11.5
https://www.foreignexchangeservices.com/index.html?partnerid... |
This is not the rate you get if you go into the branch:
"All currencies in your order will be sent in one shipment. Currency can only be shipped to the address associated with your account. You must be
available at that address to sign for the package. We do not deliver to P.O. boxes."
[Edited on 3-27-2013 by durrelllrobert] |
I called my local branch first asked them what the exchange rate was if I came in. He gave me the 11.5 rate. I guess I will call again to double check
if he gave me correct rate. It would not be the first that somebody doesn't know their own job 
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