Currency Exchange

[gopbroek]

One thing I've started doing in the last couple of years is to take a pre-paid debit card. My bank offers them for no charge. I load up a few thousand dollars on it before I go. Use it to pay at Mega or Chedraui (you get current bank rates on exchange) and also to withdraw pesos. After I return stateside I withdraw all but a small balance. That way if I do get hacked, they are not hacking my CC or main Debit Card.

I'm leaving in the morning to head back down and have my pre-paid card in tow. Ready to get back underwater.

Exactly, as I learned from others here on the Board, Charles Schwab checking with ATM card. 0 monthly fees, 0 balance requirements, they pick up all ATM charges (automatically, no dinking around with receipts and claims), 0 foreign transaction fees and an exchange rate consistently 0.15 Peso's below the full FOREX rates. It's a no brained and it is separate and not linked to my primary bank.

 

[cvchief]

I use the ATM's at Mega or the airport primarily because I do not read Spanish. Unlike every Bank ATM I have seen in the US over the last 20 Years that are Spanish / English (default lately is Spanish) in Mexico the in bank ATM's are often Spanish only. At Mega or the airport the bank branded ATM's have an English option. Credit cards can be hacked anywhere but the only time I have been hit was just prior to trip a couple years back in Dallas. The credit card company caught it and contacted my wife who tracked me down while enroute to a dinner at El Morro's. 15 minutes on the phone and it was taken care of and I swapped to an alternate card for rest of the trip. Since then I pre load an account from Schwab for traveling which is firewalled from my primary bank.

My Southwest Chase card got hit and I was notified while I was in MX. They were going to lock the account and give me a new card. I said I don't want to lose the points. So they marked it good for in person transactions only in MX. Also they gave me like 120 days to update my recurring transaction. No problem, other than changing the electric, cable, phone, etc accounts when I got home. Fraud is so common, you kinda roll with it. I am though like you, not really into using my bank card anywhere.

 

[cvchief]

Exactly, as I learned from others here on the Board, Charles Schwab checking with ATM card. 0 monthly fees, 0 balance requirements, they pick up all ATM charges (automatically, no dinking around with receipts and claims), 0 foreign transaction fees and an exchange rate consistently 0.15 Peso's below the full FOREX rates. It's a no brained and it is separate and not linked to my primary bank.

I still need to get that card.....

 

[mikeycanuk]

Anyone know the best place to exchange US cash?

 

[cvchief]

Anyone know the best place to exchange US cash?

You have to define best. Easiest or best exchange rate or quickest?

 

[mikeycanuk]

LOL. I've used that expression many times at my place. It's either quick or cheap, but not both!

Best exchange, I've got enough Peso's from last trip to get us by for a day or so.

 

[ggunn]

One thing I've started doing in the last couple of years is to take a pre-paid debit card. My bank offers them for no charge. I load up a few thousand dollars on it before I go. Use it to pay at Mega or Chedraui (you get current bank rates on exchange) and also to withdraw pesos. After I return stateside I withdraw all but a small balance. That way if I do get hacked, they are not hacking my CC or main Debit Card.

I'm leaving in the morning to head back down and have my pre-paid card in tow. Ready to get back underwater.

Can you recharge the card from Cozumel via on line banking if you need to?

 

[tomhooper]

Never tried. I'll have to check on that. I normally make sure I have a big cushion on the card. Never come close to using it all.

 

[DandyDon]

There were rumors/stories a couple of years ago about an ATM in either Mega or Chedraui bilking someone, but I have no solid evidence of it.

I think it was DaveD at Mega.

OTOH and IMO, using one of the small standalone privately owned ATMs out on the sidewalks is just asking for trouble.

I walked by one on the way to breakfast every morning and wanted to write DANGEROUS with magic marker, but I didn't want to get busted.

Can you recharge the card from Cozumel via on line banking if you need to?

I can mine.

 

[Dave Dillehay]

I think it was DaveD at Mega.


I walked by one on the way to breakfast every morning and wanted to write DANGEROUS with magic marker, but I didn't want to get busted.


I can mine.

Yes it was Mega and Chedraui…can't trust much of anyone. Bring lots of dollars and you will not be robbed…just exchange at a good bank rate when you have the opportunity.. That, and use US based credit cards for big meals/hotels. A fraud there is EASY to refute.

Dave Dillehay
Aldora Divers

PS I'm not saying Cozumel is any worse than Dallas, it can happen anywhere, I just don't trust any ATM.