Jaeger45
Contributor
Re: the Double Conversion Ripoff.
Worst ATM fee I've ever seen. I was just at a conference 2 weeks ago and needed to withdraw some money to pay the dive op (wonderful people, BTW). The going exchange rate seemed to be in the neighborhood of 12.3-12.7 pesos/USD. I was notified that the ATM only provided dollars. An innocent-appearing message on the ATM notified that the exchange rate would be a little over 14 pesos/dollar.
"Great, if only the machine provided pesos," I thought to myself.
To my horror, it billed my account in pesos and provided dollars. As compared to an above-average exchange rate of 12.7, this amounted to over $70 in ATM fees for the transaction, just on the Mexican side! Ouch!
Worst ATM fee I've ever seen. I was just at a conference 2 weeks ago and needed to withdraw some money to pay the dive op (wonderful people, BTW). The going exchange rate seemed to be in the neighborhood of 12.3-12.7 pesos/USD. I was notified that the ATM only provided dollars. An innocent-appearing message on the ATM notified that the exchange rate would be a little over 14 pesos/dollar.
"Great, if only the machine provided pesos," I thought to myself.
To my horror, it billed my account in pesos and provided dollars. As compared to an above-average exchange rate of 12.7, this amounted to over $70 in ATM fees for the transaction, just on the Mexican side! Ouch!
