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Old 12-16-2013   #1 (permalink)
into ruins
 
Join Date: Dec 2013
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Mexican pesos

Can anyone tell me how many peso's you are getting for one US dollar at one of the Money Exchanges on 5th Ave? Is there one that has a slightly better rate. Trying to decide on whether or not to bring peso`s or just exchange down there. Thanks
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Old 12-16-2013   #2 (permalink)
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Quote:
Originally Posted by deetee1000 View Post
Can anyone tell me how many peso's you are getting for one US dollar at one of the Money Exchanges on 5th Ave? Is there one that has a slightly better rate. Trying to decide on whether or not to bring peso`s or just exchange down there. Thanks
I know of no one who uses the Cambios.
Well...except for unsuspecting tourists
ATMs (or pesos from your bank) will give you the best eate.
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Old 12-18-2013   #3 (permalink)
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Quote:
Originally Posted by deetee1000 View Post
Can anyone tell me how many peso's you are getting for one US dollar at one of the Money Exchanges on 5th Ave? Is there one that has a slightly better rate. Trying to decide on whether or not to bring peso`s or just exchange down there. Thanks
Quote:
Originally Posted by Babaloo View Post
I know of no one who uses the Cambios.
Well...except for unsuspecting tourists
ATMs (or pesos from your bank) will give you the best eate.
I looked into the cost of buying pesos here in the US before going down several years ago when the exchange rate was particularly good, and I was afraid it wouldn't last. The fees that my bank would charge, made that the least attractive option by far. I've spoken with one other person who came to the same conclusion with regard to his bank.

Agreed, ATM's are the way to go. I've used them at banks, grocery stores and the airport without issue during the 5 times we've been down there, and no plans to change for this upcoming trip.

I would never use a free-standing ATM on the street, but no other precautions.

Google XE currency exchange for current rates.
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Old 12-18-2013   #4 (permalink)
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Check with your bank, ours does not charge a fee if you have an account with them. This year they gave us 13.25 to 1 when the published rate was 13 to 1. When they are gone we’ll use the ATM.
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Old 12-18-2013   #5 (permalink)
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AAA Travel will sell pesos and other countries, with no fee. Must buy min. $100.00 USD
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Old 12-18-2013   #6 (permalink)
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I use Travelex (Currency Exchange and Foreign Money Conversion Services | Travelex) at my airport. Never had worries & if I pay by credit card, I can re-exchange when i get home. Never have yet, but it's an option. I also use the ATM at my hotel with no worries.
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Old 12-22-2013   #7 (permalink)
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We also use ATMs with no problems, except for last year when the Scotiabank ATMs could not read the new Royal Bank chip cards, then we discovered HSBC. I am a creature of habit and it totally freaked me out when Scotiabank wouldn't accept our debit card, at that moment I was very glad we had brought along Canadian dollars for just such an emergency.
So, if you must use a money exchange I would recommend The Big Apple on 5th Ave near 20th. At the time they had the best exchange rates in that area of town. I really like this little store, hope it's still there.
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Old 12-22-2013   #8 (permalink)
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My local bank charges $8 for any amount of pesos at the current XE rate. This trip we are bringing pesos rather than paying the 3% fee at the Banco Santander/Bank of America atms. Seems to be the cheapest option by far.
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Old 12-22-2013   #9 (permalink)
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Quote:
Originally Posted by Babaloo View Post
I know of no one who uses the Cambios.
Well...except for unsuspecting tourists
ATMs (or pesos from your bank) will give you the best eate.
Yes you do! You know my hubby.

Would he get a better rate at Santander, Bancomer, etc? We don't have an account down here so what do we need? ID? Passport?
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Old 12-22-2013   #10 (permalink)
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Originally Posted by u2girlie View Post
Yes you do! You know my hubby.

Would he get a better rate at Santander, Bancomer, etc? We don't have an account down here so what do we need? ID? Passport?
Yes, you would.
Passport required.
I only use the ATMs since I have a US bank account.
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Old 12-22-2013   #11 (permalink)
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I think we are going to write a check or two each month to Intercam. Seems to work well for friends of ours - one of them write a larger check about once a quarter to get pesos
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Old 12-22-2013   #12 (permalink)
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Quote:
Originally Posted by Coming to Playa View Post
My local bank charges $8 for any amount of pesos at the current XE rate. This trip we are bringing pesos rather than paying the 3% fee at the Banco Santander/Bank of America atms. Seems to be the cheapest option by far.
Check the exchange rate they offer though. I just checked my bank, (Wells Fargo, who I'm going to fire within the month - another story). and if I order a minimum of $1,000 USD worth of Pesos, there is no S & H fee, but the filthy bastards more than make up for it in the rate they offer.
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