Pay in Pesos versus dollars?

[dflaher]

I always try to pay for most things in the local currency when traveling. It just seems to work out better.

Where are the best places in Coz to exchange? Sorry to whoever suggested getting a BOA account and ATM card, but that bank's on my s* list.

Cheers,
Dan

 

[cvchief]

Sorry to whoever suggested getting a BOA account and ATM card, but that bank's on my s* list.

Oh, its ok. I have a work CC with them. Took 5 months and 10 phone calls to fix a problem there. Every time they promised it would be fixed. I also took a bath on a little BOA stock. The LEAST they could do is give me pesos with no fee. I let them try to make it up to me that way....

 

[DjDiverDan]

Banks are definitely better than the Cambios, and the Cambio at the Airport is usually TERRIBLE. I usually just check out the 3 banks nearest the Plaza. Last 3 or 4 trips, ScotiaBank, 1 block East of Melgar, one block North of the Plaza, at the end of the pedestrian walkway just down from Wet Wendy's, has had the best exchange rates. When you exchange at a Bank, remember to bring your Passport - they need to make a photocopy. I think the maximum that a Bank will exchange is $500 per day, but I've always found that $500 is more than enough for a week, with some left over to start the next trip.

 

[dflaher]

Scotia Bank...at the end of the pedestrian walkway just down from Wet Wendy's, has had the best exchange rates.

Great! And I can use those new found pesos to get a 'Rita at Wendy's :cool2:. Thanks for the tip, DJ.

 

[Basscat]

I have a second checking account at my local bank with a debit card that I use just for travelling. I think the usual charge at ATM's in Coz is about $3, and I keep a limited amount in the account in case something happens, but nothing has. I only use ATMs at banks. I just think it is common courtesy to use Pesos in Mexico, it is their country, after all. I leave some tips in small US bills. Works for me, ymmv, I guess. I always like to bring some pesos back home, so I have to go back to spend them....

 

[mstevens]

I do think with the free online check i can be shot if I try to talk to a live teller though.....

Yeah, my understanding is that the free online account stops being free if you use ANY service other than online or ATM, even phoning customer service or a local branch.

I'm no fan of BOA. The only thing we use them for is to hold funds that we withdraw from the ATM at Santander. We've become fairly adept at maintaining sub-$10 balances when we're out of Mexico.

 

[BrewingDiver]

You know, I think I've done something different each trip. Bought pesos in the US and carried them down (my bank charges me extra of course), used the ATM at the airport in CZM to get pesos, and used the banks' ATMs in CZM. Can't remember using a cambio. I've kind of settled on getting pesos from the ATMs at a bank once on the island, but since I like to have some pesos on hand immediately, I hit up the ATM at the airport before leaving.

Here is the balancing act. I don't like to buy a large amount of pesos, but what happens is I try to minimize the ATM fees that hit me every time I do a transaction, which is fixed, regardless of the amount, so I don't go too low. I can't get enough for the week in one transaction if I remember right, plus it's hard to guess what that will be, so I end up estimating as the week progresses and hope it's more than enough when I go back to the machine for the next round. When quoted both ways I usually pay the cheaper way but normally prefer to use pesos as it really doesn't seem to be enough to worry about in the end for the amount we are spending. Hotel and diving are paid for by credit card before leaving home, the rest is mostly only meals/drinks.

The long-winded point of this is, I think this year I will not worry at all about this. I will get pesos early, as many as possible within reason, and then, at the end of the week, as I've done before, whatever is left over will go to the dive masters and possibly others (we dive all week and tip at the end). If I don't have enough in pesos to properly tip, and probably won't, I will make up the rest in USD.