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mcquerry
Junior Nomad
Posts: 30
Registered: 11-14-2004
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debit card
WE ARE GOING TO BE IN MULEGE AT THE END OF DEC. AND WOULD LIKE TO KNOW WHAT IT COSTS TO GET MONEY WITH OUR DEBIT CARD. THANK YOU. T. MACK
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
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Mood: Everchangin'
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NOT TOO MUCH!
THINK OF THE CONVENIENCE OF NOT GETTING ROBBED OF YOUR CASH (see other thread), AS OPPOSSED TO THE CONVENIENCE OF YOUR DEBIT CARD...
plus it keeps the economies of two nations steaming right along!
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Anonymous
Unregistered
Posts: N/A
Registered: N/A
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Might think about travelers checks. In most of Baja these are a pain in the butt to cash BUT, in Mulege there is a nomad living there that will cash
them for you with no hassle.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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Ill take the Debit card or the traveler checks . or you can do a direct Bank transfer. I will also give you an official receipt that counts for your
FM3 requirements.
Bruce R Leech
Ensenada
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CasaManzana
Nomad
Posts: 398
Registered: 7-4-2004
Location: Was Mulege:Posada Beach/now Zihuatanejo
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Mood: Naykid
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Mulege money does not exist without a commission...
but just drop by a bank in Loreto or Santa Rosalia. If you have it set up with your bank, you can easly get $5,000 pesos/card/day ...we have two. On
the other hand, the 8% comission you get charged in Mulege is often worth it for small-quick amounts if you look at the gas and time you save
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bajalou
Ultra Nomad
Posts: 4459
Registered: 3-11-2004
Location: South of the broder
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I've been sitting here trying to remember when and where I saw a bank that wasn't in the business to make money, and I just can't remember. You pay
to get your money from a bank in Mexico, usually in the rate of exchange when it's not stated seperatly. You probably get the best deal with debit
cards tho. I'm still looking for the free lunch.
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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mcquerry
Junior Nomad
Posts: 30
Registered: 11-14-2004
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money
HI, I WANT TO THANK EVERY ONE FOR THERE REPLY. ALL INFORMATION HELPS. WE HOPE TO BE IN MULEGE FOR NEW YEARS, WE HOPE TO SEE SOME OF YOU THEN. T MACK
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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If you wire money here it will cast you 200 pesos + 1 % , that is cheaper than the bank rates and way cheaper than western union. If you want we will
keep your money in our secure safe for you at no charge . you can withdraw funds as you need , again no cost. you can transfer in more money as you
need.
Bruce R Leech
Ensenada
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Braulio
Nomad
Posts: 321
Registered: 11-7-2002
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Maybe there's something I'm missing here - I occasionally use a credit card to withdraw funds at banks at ATMs in Mexico and all I get charged is a
couple of bucks - and the conversion rate the bank gives is better than the casa de cambios (money changing places) - in fact it's usually enough to
more than cover the couple dollar charge.
Are they charging more in tourist areas or something?
I always thought the debit/credit card/atm thing was the way to go for cash in pesos.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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thwoody in ob
there are no banks or ATM,S in Mulege. we use a regular store credit card machine and pay about 7% to the bank to use it and then IVA on top of that.
then we pay a monthly rent on the equipment ,and an accountant to pay our taxes. the money you walk away with is mine not the banks and it takes me 15
days to git back so i can lend it to an other customer. It takes me 2 90 mile round trips to the bank.
How much would you charge to do that for me? I don't make much money on this most months and some months I lose.
we have Ben robed twice this year on the way back to Mulege.
I don't thing I am gouging for this service even though it is not free But it is a service that is needed here . and most of the people that use it
are Happy that it is here
Bruce R Leech
Ensenada
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Mood: gone fishin'
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IN Loreto..
My BofA account gets charged $5 for every ATM withdrawl from the Bancomer machine. For the convienence its well worth it.
Don't use traveler's checks- here's why:
there is lots of fraud with traveler's checks and for that reason, merchants have a charge attached to deposit them into their bank accounts, and they
have to wait ten business days for them to clear.
So what? Well this is enough reason for most local merchants to decline them as payment.
Pesos is the best way to pay for everything and that's what the ATM's will dispense.
Another thing about traveler's checks is that the checkholder is the ONLY person who can trade them in a bank for cash- and with passport in hand.
Bancomer in Loreto just recently became more lenient with this rule and will now accept a birth certificate and photo ID to exchange them, but before
they did there were lots of folks who could do nothing with their travelers checks. Never know when rules and policies will change around here, so
best be safe.
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latitude26n
Banned
Posts: 124
Registered: 8-7-2004
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B of A ATM card for pesos?
Pam-
are you using a B of A ATM card to do withdrawals from Bancomer? I've been looking everywhere to find out what US and Mexican banks are linked to
provide this service.
[Edited on 12-18-2004 by latitude26n]
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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Banamex changes there rate every 1/2 hour. I think the others do to. by the time I leave here to go to the bank it will Chang at least twice. watch
the rate on the INTERNET for your bank.
Bruce R Leech
Ensenada
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Debra
Super Nomad
Posts: 2101
Registered: 10-31-2002
Location: Port Orchard Wa./Bahia de Los Angeles BC
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I'm confused Bruce.....
"2, 90 mile round trips to the bank"? Where on earth do you bank?
I've never been charged while using my ATM card at a bank in Baja except for the usual $1.50 (different bank?, don't know) I have to also say that I
would think that a fee for the service that Bruce offers is WAY within reason (if I don't have to drag my lazy bottom off the beach, I'm more than
happy to pay for that)
Bruce, do you also offer "Pay Pal"?
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Mexray
Super Nomad
Posts: 1016
Registered: 8-30-2002
Location: California Delta
Member Is Offline
Mood: Baja Time
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Debra...
I believe what Bruce is saying is that it's about 45 miles from Mulege, where his place is - to Santa Rosalia, where the nearest Banamex branch is
located....hence the 90 mile round trip...plus about a $10 bill just for the gas he'll burn along the way...
According to my clock...anytime is \'BAJA TIME\' & as Jimmy Buffett says,
\"It doesn\'t use numbers or moving hands It always just says now...\"
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Art
Newbie
Posts: 2
Registered: 9-17-2004
Member Is Offline
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Remember folks, you have no recourse when using a debit card. If someone decides to increase the amount of a transaction you could be stuck for huge
amounts. A consumer visiting a foreign country bought some dishes with a debit card. The merchant changed the amount to over $18,000. and as far as
I know the consumer has never gotten there $ back.
Use a Credit Card and you have all of the tools to dispute a charge, and prove what the original amount was (you do save your receipts don't you?)
Sure, the CC will cost you a little more than just a transaction fee, but the security is well worth it.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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How can they change the amount after you complete the sale?
Keep your receipt. it is important that is all you need
[Edited on 12-19-2004 by Bruce R Leech]
Bruce R Leech
Ensenada
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Braulio
Nomad
Posts: 321
Registered: 11-7-2002
Member Is Offline
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Hose A - thanks for the test - that's the type of thing we need more of on the boards.
I haven't used travelers checks in probably 20 years. What I usually do is just use my credit card (I guess a debit would work as well) in the ATM at
the bank - I don't think I've ever had much of a wait. Comparing exchange rates posted outside the change houses with what I receive from the ATM
I've always (as of about 2 weeks ago) received a better deal from the atm - even taking in to account the fee.
I wonder if they're giving a different rate at the atm as opposed to the teller window?
My main reason for using the card is that I don't want to be carrying a wad of cash around - in any denomination - so using casas de cambio wouldn't
be a solution for me.
I also don't like using credit cards in general for purchases in Mexico - because there are rings that can duplicate your card once they have the
number.
In fact I wouldn't even consider using an uninsured card (like many debits) in Mexico.
I'll run a similar test to yours when I'm down after christmas - let's see what numbers I get.
Chau man.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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just check your receipts and keep them and you should not have a problem . if they charge you moor than your receipt shoes they have a big problem.
don't let theme run your card on the old Manuel machines. and don't let them take the card out of your site.
Bruce R Leech
Ensenada
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Reeljob
Nomad
Posts: 235
Registered: 12-1-2004
Location: Durango, CO
Member Is Offline
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All real good comments, but you still need the protection that the Credit Card Law (at least in the USA) provides that are NOT provided to debit
cards.
You try and take your little receipt for a debit card transaction to the bank. They'll send you back to the merchant and GOOD LUCK.
You can take your CC receipt back to the bank, or under the Fair Credit Billing Act, dispute the CC charge in writing. Furthermore if you loose your
CC the most you can be charged is $50.00. Not if you use a Debit Card. Your at the mercy of the merchant to make things right.
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