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Old 06-17-2014   #1 (permalink)
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beating the dollar to peso horse

i've searched, i really have. i see a lot of good answers but none are quite clear enough for me.

can i walk into santander or another fine institution and offer them my dollars for pesos at a decent rate? do you need an account at said institution?

local banks here are offering something around 11.1 pesos to dollar. sounds atrocious to me.
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Old 06-17-2014   #2 (permalink)
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Unless you like standing in line at a bank or an exchange house, you can get close to 13 pesos to the dollar at some atms/

The xe.com exchange rate was 1.00 USD = 13.1092 MXN this evening.

I got 12.9 at the Santander atm at terminal 2 this morning

Last edited by roni; 06-17-2014 at 07:56 PM..
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Old 06-17-2014   #3 (permalink)
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Unless you like standing in line at a bank or an exchange house, you can get close to 13 pesos to the dollar at some atms/

The xe.com exchange rate was 1.00 USD = 13.1092 MXN this evening.
yeah, i don't have a ATM compatible card, i think. We've ordered a Capital One card which may work but i'm concerned about the fees and how that would affect the rate. ya know?

Thanks to all of you on this board. this is our second trip and, without the invaluable information you all impart, this would be a lot more, umm, interesting.
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Old 06-17-2014   #4 (permalink)
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yeah, i don't have a ATM compatible card, i think. We've ordered a Capital One card which may work but i'm concerned about the fees and how that would affect the rate. ya know?

Thanks to all of you on this board. this is our second trip and, without the invaluable information you all impart, this would be a lot more, umm, interesting.
Hi Bob, I know this won't be much help to you on this trip but for future reference, you should definitely get yourself a free High Yield Investor Checking Account from Charles Schwab.

Link: Charles Schwab HYI Checking Account

It's free to apply, no account minimums, and no monthly service fees. The best part? No ATM fees worldwide.

I know it sounds like I work for these guys, but I do not. I'm simply their most satisfied customer. I've had an account with them since 2007, I've been around the world and I've yet to pay a single ATM fee.

Anyway, just a tip! Good luck and enjoy your trip!
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Old 06-17-2014   #5 (permalink)
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Hi Bob, I know this won't be much help to you on this trip but for future reference, you should definitely get yourself a free High Yield Investor Checking Account from Charles Schwab.

Link: Charles Schwab HYI Checking Account

It's free to apply, no account minimums, and no monthly service fees. The best part? No ATM fees worldwide.

I know it sounds like I work for these guys, but I do not. I'm simply their most satisfied customer. I've had an account with them since 2007, I've been around the world and I've yet to pay a single ATM fee.

Anyway, just a tip! Good luck and enjoy your trip!
Our money with the a Fidelity Cash Management account. All ATM fees from anywhere in the world are automagically refunded into our account.

No ATM fees that have not been refunded at anytime.
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Old 06-17-2014   #6 (permalink)
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Hi Bob, I know this won't be much help to you on this trip but for future reference, you should definitely get yourself a free High Yield Investor Checking Account from Charles Schwab.

Anyway, just a tip! Good luck and enjoy your trip!
yes, i've read the lengthy threads about how all of the local folks handle the money changing. if i were to call Playa home and, believe me, i want to, i'd open an account. i simply couldn't justify it for our second trip.

has anyone recently attempted a walk up transaction at a bank? I'm sure i'm not the only curious visitor.

gracias!
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Old 06-17-2014   #7 (permalink)
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I exchange dollars for Pesos at banks every now and then. It is time consuming, annoying and you do not get a good rate no matter which bank you go to. You are way better off getting an ATM card. Even factoring in the fee's you will come out better and spend less time.
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Old 06-17-2014   #8 (permalink)
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I exchange dollars for Pesos at banks every now and then. It is time consuming, annoying and you do not get a good rate no matter which bank you go to. You are way better off getting an ATM card. Even factoring in the fee's you will come out better and spend less time.
even at banks in Playa? Santander web site shows a decent exchange rate but i can't see the fees.

Thanks!
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Old 06-17-2014   #9 (permalink)
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Originally Posted by bobsmartx View Post
yeah, i don't have a ATM compatible card, i think. We've ordered a Capital One card which may work but i'm concerned about the fees and how that would affect the rate. ya know?

Thanks to all of you on this board. this is our second trip and, without the invaluable information you all impart, this would be a lot more, umm, interesting.
Capital One is a CREDIT card, only YOUR bank can issue you an ATM card, you need to go into any branch of your bank and ask to have an ATM card issued.
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Old 06-17-2014   #10 (permalink)
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Capital One is a CREDIT card, only YOUR bank can issue you an ATM card, you need to go into any branch of your bank and ask to have an ATM card issued.
right, but it was rumored to have some advantages i cannot recall at the moment.
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Old 06-17-2014   #11 (permalink)
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Originally Posted by bobsmartx View Post
yeah, i don't have a ATM compatible card, i think. We've ordered a Capital One card which may work but i'm concerned about the fees and how that would affect the rate. ya know?

Thanks to all of you on this board. this is our second trip and, without the invaluable information you all impart, this would be a lot more, umm, interesting.
I think these are the most recent threads dealing with dollars-to-donuts dilemmas:

http://www.playa.info/playa-del-carm...5-usd-atm.html

and

http://www.playa.info/playa-del-carm...ction-fee.html

and

http://www.playa.info/playa-del-carm...ican-bank.html

There are others, but these should keep you busy...
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Old 06-17-2014   #12 (permalink)
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right, but it was rumored to have some advantages i cannot recall at the moment.
I can't think of any.

With a credit card you are borrowing someone else's money so you will pay interest plus a conversion fee.

With an ATM card it is your money you're dealing with, you will only pay a conversion fee.


It can be more complicated, but that's the basics. Might be worth looking at the threads Beam-eye mentioned.
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Old 06-18-2014   #13 (permalink)
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Xoom?

so, Xoom.com seems like a great deal. $5 transfer fee. $1-$12.85MXN exchange rate.

Has anyone used this? It seems i can wire it to myself for pickup on Juarez between 20 and 25 av, no?
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Old 06-18-2014   #14 (permalink)
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Originally Posted by CalifGuy View Post
Capital One is a CREDIT card, only YOUR bank can issue you an ATM card, you need to go into any branch of your bank and ask to have an ATM card issued.
My Cap One card is an ATM card, attached to my Cap one checking account.
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Old 06-18-2014   #15 (permalink)
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Quote:
Originally Posted by bobsmartx View Post
even at banks in Playa? Santander web site shows a decent exchange rate but i can't see the fees.

Thanks!
Yes, at the banks in Playa. I don't find it convenient in the least, and I get a better exchange rate when I withdraw cash at ATM's. You can exchange dollars for pesos at Santander's, but not all of them.
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