Ken Cooke
Elite Nomad
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Registered: 2-9-2004
Location: Riverside, CA
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Mood: Pole Line Road postponed due to injury
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To avoid peso 'hustle', where to go for best exchange rates?
In Ensenada, a boat owner charging $2/person boat tours wouldn't/couldn't give me my $6 change. I have read that exchanging dollars for pesos insures
against this money hustle, but how and where do you go for the best rates?
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SFandH
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Assuming you have an American checking or savings account with an ATM card, just go to any ATM in Mex to get pesos. You'll get the current exchange
rate. ATM fees are another topic. I use a Fidelity account that reimburses ALL ATM fees.
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bajatravelergeorge
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Location: Baja Norte
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If I have dollars in hand, I use the money exchange booths. Otherwise, use your debit card at an ATM. If you use an ATM, get as much as you can or
need in one use because the fees are pretty bad.
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willardguy
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carry an ATM card that charges no international transaction fees and reimburses the ATM fee and you're good to go
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Floatflyer
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If you go to Costco in Cabo, you can pay for some small item with a $100 bill and get a good exchange rate. Don't think they will just exchange USD
for pesos though.
For virtually all of our peso needs we use a Santander Bank and a Charles Schwab Debit/Visa Card. Wife said it was a pain to set up the Schwab
account and this was done in the US. No transaction fees and only one "Declined" episode for the winter and that was fixed very quickly with a single
telephone call. Good luck, the challenge continues.
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Martyman
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Registered: 9-10-2004
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The last toll station before Ensenada has an ATM. Easy peasy.
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chuckie
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ATM
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willardguy
Elite Nomad
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Quote: Originally posted by Floatflyer  | If you go to Costco in Cabo, you can pay for some small item with a $100 bill and get a good exchange rate. Don't think they will just exchange USD
for pesos though.
For virtually all of our peso needs we use a Santander Bank and a Charles Schwab Debit/Visa Card. Wife said it was a pain to set up the Schwab
account and this was done in the US. No transaction fees and only one "Declined" episode for the winter and that was fixed very quickly with a single
telephone call. Good luck, the challenge continues. |
just yesterday at the santander in rosarito my schwab card got declined, a couple minute later my cell phone rings, schwab automated call checks zip
code and last four, good to again!
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Ken Cooke
Elite Nomad
Posts: 8944
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Location: Riverside, CA
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Mood: Pole Line Road postponed due to injury
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I bank with B of A - they no longer offer an international arrangement with Santander. I get charged $5 per transaction which alters my final
effective exchange rate. If I don't spend all of my Pesos, they just sit in my wallet until the next Baja adventure.
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BooJumMan
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Location: San Diego
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I was having a hard time locating a working ATM anything south of G. Negro and North of La Paz last month. Not to mention Baja Sur was horrible with
exchange rates. They were doing 11:1 and I'd say the exchange rate is 14:1 but they smiled and said, "Sorry, 11:1 is my rate" or something along those
lines.
Traveling on weekends with dollars through small towns suck. Never again will I make that mistake! Until I forget next year of course...
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Ken Cooke
Elite Nomad
Posts: 8944
Registered: 2-9-2004
Location: Riverside, CA
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Mood: Pole Line Road postponed due to injury
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| Quote: Originally posted by BooJumMan | | Traveling on weekends with dollars through small towns suck. Never again will I make that mistake! Until I forget next year of course...
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Scenarios like yours sound ripe for a Peso hustle! Lol
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willardguy
Elite Nomad
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ken, BofA screwed thousands of ex-pats and travelers! dump em and go to schwab or capitol one or whoever is offering transaction free withdrawls
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Ken Cooke
Elite Nomad
Posts: 8944
Registered: 2-9-2004
Location: Riverside, CA
Member Is Offline
Mood: Pole Line Road postponed due to injury
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| Quote: Originally posted by willardguy | | ken, BofA screwed thousands of ex-pats and travelers! dump em and go to schwab or capitol one or whoever is offering transaction free withdrawls |
I was also screwed by Bank of America. My application was BLITZED repeatedly when I applied for a loan with better terms than what I signed for
several years earlier (30 yr fixed). Countrywide/B of A got sued, I got free checking! 
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