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Old 01-14-2011   #1 (permalink)
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"Another" ATM question

Hi, will be down in three weeks and was planning on using my B of A debit card at the Santander ATM at Mega for pesos. Have been told there will be no bank or ATM fee so that sounded pretty good.

However, my wife just found this:

(not dated so have no idea when posted)

Take cash. Normally I would recommend taking a debit card. However, I just read a new rules that they are limiting atm withdraws to about $25 per transaction with a maximum of 3 transaction per day. So you can only withdraw $75.00 per atm card in a 24 hour period.

So, I need advice from the locals or people who have just visited - plan on the ATM or bring pesos or ?

Thanks
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Old 01-14-2011   #2 (permalink)
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Plan on the ATM. I just withdrew $6,000 pesos today. I live here and rely on the ATM's and have never been limited to the amount I take out.
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Old 01-14-2011   #3 (permalink)
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Quote:
Originally Posted by LarryH View Post
(not dated so have no idea when posted)

Take cash. Normally I would recommend taking a debit card. However, I just read a new rules that they are limiting atm withdraws to about $25 per transaction with a maximum of 3 transaction per day. So you can only withdraw $75.00 per atm card in a 24 hour period.
So not true.
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Old 01-14-2011   #4 (permalink)
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Thanks - appreciate the quick responses.

Babaloo - you could become the Snopes.com of Playa
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Old 01-14-2011   #5 (permalink)
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We always arrive with some pesos in our wallets,just makes it easier.
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Old 01-14-2011   #6 (permalink)
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Quote:
Originally Posted by LarryH View Post
Hi, will be down in three weeks and was planning on using my B of A debit card at the Santander ATM at Mega for pesos. Have been told there will be no bank or ATM fee so that sounded pretty good.

However, my wife just found this:

(not dated so have no idea when posted)

Take cash. Normally I would recommend taking a debit card. However, I just read a new rules that they are limiting atm withdraws to about $25 per transaction with a maximum of 3 transaction per day. So you can only withdraw $75.00 per atm card in a 24 hour period.

So, I need advice from the locals or people who have just visited - plan on the ATM or bring pesos or ?


Thanks
I have taken 6000 pesos twice in the last week from Santander on Juarez. I have in the past withdrawn multiple times at the same machine and haven't had a problem. Our neighbor has made several trips to withdraw her rent due and was limited to the number of withdrawals but that could be due to a limit that she placed at the home bank as to the dollar amount that is available for daily withdrawals.
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Old 01-14-2011   #7 (permalink)
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Money Withdrawl

Is it better to wait til we get to playa to withdraw pesos right. I know I was in LAX for a connect from Vegas last year and I exchanged a bunch of cash and basically got robbed in the exchange rate. Was thinking to take some cash and then withdraw from the ATM upon arrival. IS there a best place to get cash or any ATM will do? Thanks
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Old 01-14-2011   #8 (permalink)
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Quote:
Originally Posted by madchef View Post
Is it better to wait til we get to playa to withdraw pesos right. I know I was in LAX for a connect from Vegas last year and I exchanged a bunch of cash and basically got robbed in the exchange rate. Was thinking to take some cash and then withdraw from the ATM upon arrival. IS there a best place to get cash or any ATM will do? Thanks
You can use the ATM at the airport.
It's outside of customs, to the right near the restrooms.
I only use ATMs affiliated with banks - not independents.
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Old 01-14-2011   #9 (permalink)
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Sweet Thanks.
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Old 01-14-2011   #10 (permalink)
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Just wanted to clear up one thing as I am in the industry. It is illegal in Mexico to operate an ATM that is not affiliated with a bank. If you look on every ATM in Mexico it will say the bank that it is with, usually with a sticker on the front door of the ATM and also on the receipt.

Banco Azteca, Interraciones and Bansi are three smaller banks that have ATMs out there. True they have higher fees but they are all still associated with a Mexican bank. So by stating "you use only ATMs associated with a bank not the independent ones", really does not make any sense.
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Old 01-14-2011   #11 (permalink)
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I remember my first ATM experience in Cancun. I wanted a hundred dollars and I punched in my info and out came 100 pesos. I was not really familiar with pesos and my friend said that is about $10 bucks. I got pretty p'oed and thought I got ripped off till I realized I should have punched in a thousand pesos. I think the service charge was like $5 or $6 bucks because it was in a night club..Stupid tourist.
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Old 01-15-2011   #12 (permalink)
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Our fave ATM is the south one of three outside the bank on 10th and 8th. It's a swiper so no worries about your card getting eaten.
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Old 01-15-2011   #13 (permalink)
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Those would be the ATMs at Banorte Bank...I find those to be the best to get cash because they give you 5000 pesos at a time and the directions are also in English...Scotia Bank limits you to 3000 pesos.

Now that I have an account at Bancomer I use their ATMs but they only give me 3000 pesos at a time and they are not in English.

I never use the ATMs at places other than banks because I've heard too many stories about being ripped off either by large ATM charges or devices that have been installed to swipe your ATM card info.
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Old 01-15-2011   #14 (permalink)
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it ain't necessarily so... to quote Ira Gershwin

I have never taken less than 3000 pesos (the limit at Scotiabank, at least for my debit card) at an ATM in Playa for the past six years. The Banemex (or is it Bancomer?) on 10th Ave and 8th St allows 5000 pesos. The fee is about $2 USD. A lot of tourists see a fee of, say $23.50, and think that means it is $23.50 USD. Of course, you're in Mexico, not the US, so the fee is actually 23.5 PESOS. I never use my Visa card to withdraw money because despite the fact I own stock in J.P. Morgan Chase, I never want to hand them over the exorbitant fees credit card companies charge for getting a cash advance outside the U.S.

For the record, I'm in Playa now and have taken out the above amount several times since I've been here. Not sure where the info your wife got about the limits came from, but it's simply inaccurate. BTW, I prefer to use the Scotiabank at Plaza Las Americas or the one on Constituyentes and 10th Ave, or the Banemex (or Bancomer) on 10th and 8th St because their ATM's do not capture your card, thereby minimizing the possibility of having the machine "eat" the card.

Quote:
Originally Posted by LarryH View Post
Hi, will be down in three weeks and was planning on using my B of A debit card at the Santander ATM at Mega for pesos. Have been told there will be no bank or ATM fee so that sounded pretty good.

However, my wife just found this:

(not dated so have no idea when posted)

Take cash. Normally I would recommend taking a debit card. However, I just read a new rules that they are limiting atm withdraws to about $25 per transaction with a maximum of 3 transaction per day. So you can only withdraw $75.00 per atm card in a 24 hour period.

So, I need advice from the locals or people who have just visited - plan on the ATM or bring pesos or ?

Thanks
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Old 01-15-2011   #15 (permalink)
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Quote:
Originally Posted by playa mama View Post
Those would be the ATMs at Banorte Bank...I find those to be the best to get cash because they give you 5000 pesos at a time and the directions are also in English...Scotia Bank limits you to 3000 pesos.

Now that I have an account at Bancomer I use their ATMs but they only give me 3000 pesos at a time and they are not in English.

I never use the ATMs at places other than banks because I've heard too many stories about being ripped off either by large ATM charges or devices that have been installed to swipe your ATM card info.
they give 5000, but you have to punch in "otra cantidad" and fill in the amount
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