Money Question for Canucks

Rissask · 10-04-2004

YES I have tried to search for this, and no I didn't find it.

Will the banks change Canadian cash into pesos? What about the smaller exchange booths?

Normally we bring pesos but I think you get a better rate changing it down there (plus they charge $8 to change it here), and I am a little nervous to completely rely on ATMs this next trip- so we were planning on bringing some Canuck cash and changing it, if we could.

TIA!

**james** · 10-04-2004

yes, you can change Canadian dollars. What makes you nervous about the ATMs?

Rissask · 10-04-2004

Great!

Nothing really makes me nervous about them per se. I know they work fine and are safe and reliable.

I just worry in general about being two countries away on vacation and using them- I will foget my Interac number (luh-hoo-zer I know, but it has happened, I will be writing it down somewhere!) or suddenly my card and my husband's card will both not work (has happened three times in past 5 years to me!

)- silly embarassing reasons like that!

But we will be relying mainly on our ATM cards this trip- sooo much easier than using traveler's checks or bringing US cash- both not as bright things we have done on past trips! For some reason, I thought the banks would not accept Canadian cash to exchange, someone told me that- good to know they will!

**james** · 10-04-2004

yeah, that shiznit happens to me too.... never my fault, of course

Quinn · 10-04-2004

While in PDC I always rely on the ATM's to get peso's from my Canadian bank account... have never had a problem doing that or exchanging my loonies in to peso's while there.

louloupants · 10-04-2004

HI...well I use Canadian Travellers Cheques, Atm, and have used Canadian cash to exchange to pesos. I find the best rate is from using Travellers Cheques and I cash them at a special Travellers cheque booth on 5th ave or better yet at the banks. It gives me a better rate than the atm as I get dinged an extra $5 which ends up costing me more so I only use it more for convenience or if the bank is closed. I think my last exchange rate at the bank was 8.91 on the streets Ive seen it 8 to 8.05. Hope that helps.

higgins1 · 10-04-2004

Remember though, if you are exchaning money at the bank, even with your bank card, the bank requires your passport. We ran into this problem trying to change money into Peso's at the ScotiaBank, of which we are customers in Canada. They wanted to see our Passport, of course it was back at the hotel.
The ATM's dispense pesos from Canadian accounts - no problem.

Rissask · 10-04-2004

I knew that about the passport, from past experience at cambios- thanks!

But about the traveller's checks- I think I remember thinking they were a ripoff because we were charged so much to buy them at home here? I thought it was a higher charge than you would pay at the ATM.

Can't recall for sure now, maybe it was the cash advance on my Visa that was the killer

(that was in my younger, not-so-flush days.

)

Yup, so true James- that shznit is NEVER my fault!

Donny · 10-04-2004

The ATM's seem to give you a competitve exchange rate. While we were there, I got cash out on day 2 and left my card in the machine. While standing on the corner trying to figure out which way we were going next, a local man tapped me on the shoulder and handed me my card (you can call me Lou Hooser II). Don't forget to alert your bank to the fact you're going to Mexico or there is a chance your card(s) will not work. It's a safety feature.
Have Fun!
dr

Rissask · 10-04-2004

THANKS Donny (aka Lou

)for the tip about letting them know we are going...good idea! I never thought of that.

**Bumper** · 10-04-2004

Quote:

Originally Posted by Rissask

THANKS Donny (aka Lou

)for the tip about letting them know we are going...good idea! I never thought of that.

I know you're from our part of the world, Rissask, so here's how we do it, and it seems to work for us, so maybe it will for you. In the past, we've always hit the ground in Playa with some pesos in hand - easily ordered from your local bank, just give them some time to bring them in for you. You'll get the prevailing exchange rate from any Canadian chartered bank, plus a handling fee, of course, but it's not out of line. After that, we use the ATM's, especially the Bank of Nova Scotia on 5th by the bus station, which is often referred to on the forum. We do our banking at home with the Royal, so we always got hit with a transaction fee for withdrawing through the Scotia. This time though, we opened an account with the Scotia Bank down the street from us at home. We've squirreled away enough money in that account to meet our requirements while we're in Playa, and it's available for withdrawal without charges. We still do all our other banking with the Royal, but having that Scotia account will make our stay in Playa more convenient, and save us some bucks as well. You might look at this as an option.

jmac · 10-05-2004

Hey Rissask! How we did it last February was use the ATM which was $5 per transaction but we also had some CDN traveller's cheques, just in case. Just put them back in the bank account when we got home, never had to use one. They cost about $5 because we don't have a flat service fee, if you do, it may be included, ask. We will use our ATM again this winter but won't do so many transactions, still think we're ahead by getting the best rate compared to the fees. We also used our M/C if there was a machine in the store (not the trusting kind with paper trail.) Hope this helps ya.

Rissask · 10-05-2004

jmac- I am also not too trusting regarding credit cards- after my first trip to PV 8 years ago I came home to find Visa frantically trying to reach me- my card had been used in 6 different countries in the previous week.

Bumper- thanks. The past couple trips what we have done is just taken pesos that we got from our bank up here- we both use the Credit Union and there is a flat fee for exchanging them, of $7.50. I guess our thinking is we are wondering which is the best rate of exhange, down there or up here- or are they usually fairly comparable. If we had the cash it would be a great idea to change a bunch into pesos right now, the US dollar is so low!

I suppose the Scotia bank account is an option, but I can't see us doing that just for the trip, think we will stick with our tried and true taking pesos and using the ATM card if we need more. Thanks!

birdman · 10-05-2004

ATM is sooooo much easier than any of the other options. Travelers cheques get you coming & going about 5% to buy them, the same to cash them

ranchhand1024 · 10-05-2004

As an annual visitor I just carry 300-500 pesos home in the spring and I'm set to go when returning; no bother, no waiting.

10-04-2004	#1 (permalink)
Rissask Brit basher Join Date: Aug 2004 Location: Saskatoon, Saskatchewan, Canada Posts: 19,661	Money Question for Canucks YES I have tried to search for this, and no I didn't find it. Will the banks change Canadian cash into pesos? What about the smaller exchange booths? Normally we bring pesos but I think you get a better rate changing it down there (plus they charge $8 to change it here), and I am a little nervous to completely rely on ATMs this next trip- so we were planning on bringing some Canuck cash and changing it, if we could. TIA!

10-04-2004	#2 (permalink)
james beach geek admin Join Date: Apr 2001 Location: 10 year Playa resident lost in Kullavik, Sweden Posts: 9,763	yes, you can change Canadian dollars. What makes you nervous about the ATMs? __________________ My lovely house is for sale Get your own signature countdown image!

10-04-2004	#4 (permalink)
james beach geek admin Join Date: Apr 2001 Location: 10 year Playa resident lost in Kullavik, Sweden Posts: 9,763	yeah, that shiznit happens to me too.... never my fault, of course __________________ My lovely house is for sale Get your own signature countdown image!

10-04-2004	#7 (permalink)
higgins1 sandflea Join Date: Jul 2004 Posts: 7	Canadian Dollars-Loonies Remember though, if you are exchaning money at the bank, even with your bank card, the bank requires your passport. We ran into this problem trying to change money into Peso's at the ScotiaBank, of which we are customers in Canada. They wanted to see our Passport, of course it was back at the hotel. The ATM's dispense pesos from Canadian accounts - no problem.

10-04-2004	#3 (permalink)
Rissask Brit basher Join Date: Aug 2004 Location: Saskatoon, Saskatchewan, Canada Posts: 19,661	Great! Nothing really makes me nervous about them per se. I know they work fine and are safe and reliable. I just worry in general about being two countries away on vacation and using them- I will foget my Interac number (luh-hoo-zer I know, but it has happened, I will be writing it down somewhere!) or suddenly my card and my husband's card will both not work (has happened three times in past 5 years to me! )- silly embarassing reasons like that! But we will be relying mainly on our ATM cards this trip- sooo much easier than using traveler's checks or bringing US cash- both not as bright things we have done on past trips! For some reason, I thought the banks would not accept Canadian cash to exchange, someone told me that- good to know they will!

10-04-2004	#5 (permalink)
Quinn beachaholic Join Date: Apr 2003 Location: Vancouver BC Posts: 442	While in PDC I always rely on the ATM's to get peso's from my Canadian bank account... have never had a problem doing that or exchanging my loonies in to peso's while there.

10-04-2004	#6 (permalink)
louloupants toe in water Join Date: Dec 2003 Location: Winnipeg, Canada Posts: 55	HI...well I use Canadian Travellers Cheques, Atm, and have used Canadian cash to exchange to pesos. I find the best rate is from using Travellers Cheques and I cash them at a special Travellers cheque booth on 5th ave or better yet at the banks. It gives me a better rate than the atm as I get dinged an extra $5 which ends up costing me more so I only use it more for convenience or if the bank is closed. I think my last exchange rate at the bank was 8.91 on the streets Ive seen it 8 to 8.05. Hope that helps.

10-04-2004	#8 (permalink)
Rissask Brit basher Join Date: Aug 2004 Location: Saskatoon, Saskatchewan, Canada Posts: 19,661	I knew that about the passport, from past experience at cambios- thanks! But about the traveller's checks- I think I remember thinking they were a ripoff because we were charged so much to buy them at home here? I thought it was a higher charge than you would pay at the ATM. Can't recall for sure now, maybe it was the cash advance on my Visa that was the killer (that was in my younger, not-so-flush days. ) Yup, so true James- that shznit is NEVER my fault!

10-04-2004	#9 (permalink)
Donny añejo Join Date: Mar 2004 Location: Washington State Posts: 3,237	The ATM's seem to give you a competitve exchange rate. While we were there, I got cash out on day 2 and left my card in the machine. While standing on the corner trying to figure out which way we were going next, a local man tapped me on the shoulder and handed me my card (you can call me Lou Hooser II). Don't forget to alert your bank to the fact you're going to Mexico or there is a chance your card(s) will not work. It's a safety feature. Have Fun! dr

10-04-2004	#10 (permalink)
Rissask Brit basher Join Date: Aug 2004 Location: Saskatoon, Saskatchewan, Canada Posts: 19,661	THANKS Donny (aka Lou )for the tip about letting them know we are going...good idea! I never thought of that.

10-05-2004	#12 (permalink)
jmac life=playa Join Date: Jan 2004 Location: Manitoba Posts: 646	Hey Rissask! How we did it last February was use the ATM which was $5 per transaction but we also had some CDN traveller's cheques, just in case. Just put them back in the bank account when we got home, never had to use one. They cost about $5 because we don't have a flat service fee, if you do, it may be included, ask. We will use our ATM again this winter but won't do so many transactions, still think we're ahead by getting the best rate compared to the fees. We also used our M/C if there was a machine in the store (not the trusting kind with paper trail.) Hope this helps ya.

10-05-2004	#13 (permalink)
Rissask Brit basher Join Date: Aug 2004 Location: Saskatoon, Saskatchewan, Canada Posts: 19,661	jmac- I am also not too trusting regarding credit cards- after my first trip to PV 8 years ago I came home to find Visa frantically trying to reach me- my card had been used in 6 different countries in the previous week. Bumper- thanks. The past couple trips what we have done is just taken pesos that we got from our bank up here- we both use the Credit Union and there is a flat fee for exchanging them, of $7.50. I guess our thinking is we are wondering which is the best rate of exhange, down there or up here- or are they usually fairly comparable. If we had the cash it would be a great idea to change a bunch into pesos right now, the US dollar is so low! I suppose the Scotia bank account is an option, but I can't see us doing that just for the trip, think we will stick with our tried and true taking pesos and using the ATM card if we need more. Thanks!

10-05-2004	#14 (permalink)
birdman añejo Join Date: Jun 2004 Location: Wa state Posts: 1,677	ATM is sooooo much easier than any of the other options. Travelers cheques get you coming & going about 5% to buy them, the same to cash them

10-05-2004	#15 (permalink)
ranchhand1024 beachaholic Join Date: Dec 2002 Posts: 345	As an annual visitor I just carry 300-500 pesos home in the spring and I'm set to go when returning; no bother, no waiting.

register to remove these adverts