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Old 06-22-2017   #1 (permalink)
beachaholic
 
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Bank ATM q's

Are the current ATM exchange rates hovering around 18:1?

I'm reading that some ATM's are now asking if you want a certain exchange rate? So we would want to refuse that and get the rate our home bank gets that day, correct?

And I've seen warnings about higher ATM fees at some banks. We won't see these charges on our card but friends will, what bank ATM's should they avoid?
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Old 06-22-2017   #2 (permalink)
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Originally Posted by crmoores View Post
Are the current ATM exchange rates hovering around 18:1?

I'm reading that some ATM's are now asking if you want a certain exchange rate? So we would want to refuse that and get the rate our home bank gets that day, correct?

And I've seen warnings about higher ATM fees at some banks. We won't see these charges on our card but friends will, what bank ATM's should they avoid?
Not in Playa, but a Scotiabank AMT in Zihuatanejo wanted to charge me 90 pesos last fall. It used to be only about the average- 30-35 pesos or so. I declined and switched to a Banamex that was the regular fee.

Not sure if that is what they charge in PDC or not.
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Old 06-22-2017   #3 (permalink)
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Originally Posted by crmoores View Post
Are the current ATM exchange rates hovering around 18:1?

I'm reading that some ATM's are now asking if you want a certain exchange rate? So we would want to refuse that and get the rate our home bank gets that day, correct?

And I've seen warnings about higher ATM fees at some banks. We won't see these charges on our card but friends will, what bank ATM's should they avoid?
I have never heard of an ATM asking you what exchange rate you want.

Banamex and HSBC have been reasonable, fee wise (all ours get refunded to us).

Use ATMs at a bank or at a very busy store where it is difficult to access them to put in a skimmer. We have been here 3.5 years and never had a problem yet, mostly using HSBC atms at busy grocery stores or at a bank branch.
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Old 06-22-2017   #4 (permalink)
Me2
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Bancomer has a higher ( i think almost 90 peso ) fee
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Old 06-23-2017   #5 (permalink)
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The ATM told me what the exchange rate was and asked if I accepted it. I didn't get the impression that if I said no it was gonna give me a different rate. I just assumed it would end the transaction just like if I didn't accept the ATM fee.
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Old 06-23-2017   #6 (permalink)
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The ATM told me what the exchange rate was and asked if I accepted it. I didn't get the impression that if I said no it was gonna give me a different rate. I just assumed it would end the transaction just like if I didn't accept the ATM fee.
So the transaction cancelled? Or did you accept the suggested rate? Was this a bank atm?
Thanks!
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Old 06-23-2017   #7 (permalink)
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So the transaction cancelled? Or did you accept the suggested rate? Was this a bank atm?
Thanks!
I just accepted it. I wanna say they rate was 17.8 last week. It was a bank ATM on 10th (i used 2 different ones, i don't remember which. ). The ATM fees were a lot higher than I remember from previous trips, but my bank has no Mexico affiliates and I don't know if the higher fees were because of my bank or the ATM used.
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Old 06-23-2017   #8 (permalink)
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Ok, thanks. So still the question can you continue after rejecting and does it use your bank rate as others have said?
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Old 06-25-2017   #9 (permalink)
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Ok, thanks. So still the question can you continue after rejecting and does it use your bank rate as others have said?
After researching this question I found that yes, it is common for new ATM's and existing ATM's being updated to have this feature (offering "with conversion" and "without conversion"). If you choose the latter you receive the exchange rate of your bank which is invariably better, unless of course market rates suddenly swing drastically against you.
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