Forum Discussion

Explorer

Jul 15, 2018

Best Exchange rate from banks

I have been keeping track of the different exchange rates from the various banks over the last 3 weeks and have found that CitiBanamex has the best consistent rate and Bancomer has the worst, keep in mind that the compra is what you get and the venta is what you pay to purchase dollars at the banks, yes there are some banks that have better exchange rates, the location of some of these banks can be a challenge to the tourist and some banks I have never seen, the last four are strangers to me, some of you might have done business with them they might not have that many branches available in some Cities, this information is as is, yes HSBC has the best exchange rate but in order to exchange Dollars to Pesos or open an account in pesos if you can they want you to fill out a ream of paper work in the order of 20+ pages for $20.00 dollars, they want to know why you are exchanging dollars, where you got the dollars, ETC.ETC. Ridiculous so no business from me.

bank..............purchase.........sell

CitiBanamex.......18.40............19.20
BanaBajio.........17.80............19.30
Banco Azteca......17.85............18.99
Banco Base........18.48............18.88
BBVA Bancomer.....17.52............19.38
Bannorte..........17.80............19.20
HSBC..............18.67............19.13
Inbursa...........18.60............19.15
Scotiabank........17.70............19.32
Infosel...........18.87............ N/A
Intercam..........18.49............19.10
IXE...............17.80............19.20
Monex.............18.65............19.16

All government transactions........18.8241

This information is for you to get the best exchange rate, hopefully the dollar does not get stronger, that way we can purchase more birria.

navegator

14 Replies

Talleyho69
Moderator
Jul 17, 2018
What sad things to hear and see.

It's all incorrect, as many/most travelers know.

Embarrassing to see as a traveler from other countries.
Orion
Explorer
Jul 17, 2018
Do people really still carry large amounts cash across the border and then try to convert?

This also happens with tourists to Canada as well. Why is this?

Over the years, I have heard these comments.

"If I take money out of my account from ATM in Mexico, it will come out as US dollars anyway" !!

"If I use an ATM, I won't get the exchange rate, if I put in 500, I will get 500 pesos but 500 dollars will come out of my account"

"An ATM in that country won't connect to my account in the US"

"I'll just use my US dollars, they prefer to get them any way" !! I just hate this one. !
valhalla360
Navigator
Jul 16, 2018
Do people really still carry large amounts cash across the border and then try to convert?

We just hit an ATM once we get to the country. Our own bank sets the exchange rate and usually it's pretty good. Unless you are in really remote areas (ie: no banks within an hours drive) and/or you need thousands of dollars, this works much better for us.
Talleyho69
Moderator
Jul 15, 2018
Last time I used the HSBC ATM, formerly our fav, they had added a screen that stated the exchange rate given. You had to click accept or get nothing. That rate, and I have checked a couple of times since, was at least one full peso less than every other ATM. Santander is now our go to ATM.