Credit Card at Pemex

I used my Canadian Visa credit card In Cancun last week. For a 75$ fee to pay an excursion, I was charged $87.48 Canadian, so 1.16 Can for 1 US dollar in Mexico.

Using Visa to pay 62.12 Mexican Pesos, I was chaged $5.86 canadian on my credit card account. So one Can Dollars = 10.6 pesos using my credit card. At the Canadian Airport, I exchanged 20 dollars Canadian, they gave me 200 pesos, 1 for 10, the worst exchange rate I got so far, Viva Canada! In Cancun, the direct over the counter exchange rate was 11.50 pesos for one dollar Canadian. But in the bus, you pay 1 US Dollars, no change back, for a Bus fee of 9.50 pesos, hum... got scre.. there. At another place, they gave me 12.50 pesos for one US dollars, others where around 13 pesos for one dollar. They told me if you witdraw Mexican Pesos with Visa, it would cost me more, do not know why, did not tried it.

Normally when I use my Canadian Visa in USA, I get charged 2% over the US dollar rate. Today it would have been approximatly $1.00, plus .02 cent, plus .13 cent, total 1.15.

I draw some US money from an ATM but did not get the rate yet. On the ATM machine, it said that a 6.85% charge would be added to the withdraw, this does not include the 2% from VISA plus the US Dollar charge rate in Mexico, I presume it will be an addition of around 21.65% on top of the US dollar.

The cap for ATM fees must be very high. I have been charged 65 pesos at an Oxxo machine. Lots of Banks charge close to 50 pesos. Some private machines limit your withdrawal to a very low amount. Then you must take 2 withdrawals and 2 fees.

Moisheh

81 pesos, jeez... And I thought that 30-something pesos at HSBC was too much. Though, it was Ensenada, few dozen ATMs within 15 miles area, and there was another ATM right across, so they had to compete. The other bank totally didn't recognize my card though.

Someone else is wrong. For the last fifteen months, I have been charged by BanComer the sum of EIGHTY ONE PESOS for each transaction at a BanComer ATM attached to a Bancomer bank branch. The screen requires the user to note and approve yes/no the EIGHTY ONE peso fee, then by god that fee is added on to the amount of money collected by the machine out of a bank account. Ask for 6,000 pesos, and the payout reads 6,081 pesos. Oh, why don't I use a different ATM? The nearest ANYTHING is a hundred additional miles.

Oh yeah, right - I forgot about ATM fees. This is on top of everything else. Could be $US 2 or 3 per transaction. I recall paying around $3 at HSBC in Baja - not credit card, just a withdrawal. Another reason to carry enough cash - well, to a certain limit of course.

Capital One - never used it in Mexico. Had it once, then closed. Don't even remember seeing their "Allpoint" ATM there. They gave me a lousy few grand limit, two other credit cards I have with 15-20K limit. Not that I want to spend that much, I only use my CC when it's convenient or when I have no other choice, ex. buying online. But in case of really big emergency you need all the resources you can get. Maybe Capital One would make it right with me if I stayed with them, don't know. They used to have lower interest than others, but this doesn't bother me, I always pay full bill on time, no debt, no interest, he-he.

Sorry, but you are wrong.
Capital One does not charge any fees, foreign or other, anywhere in the world. Check it out.
Capital One 360, their banking branch, is the same way. If you don't use one of their Allpoint ATM's, you will incur a fee charged by the bank who's ATM you use. The amount that you allowed to take out is what your bank sets, not the bank whose ATM you are using. At Santander yesterday, the fee was $1.81US. The fee charged has a cap that is set by the Mexican government, and it is very low, something like 31p.
Credit cards and ATM cards give the very best rate available internationally.

I think any credit card will charge a foreign transaction fee 2-2.5%. This applies when you use a US card in Mexico, or Mex card in the US. So you not only don't win anything with that 1% or 1.5% cashback from the credit card, but in fact lose some. On top of that, you're getting a lousy exchange rate from your credit card company. I prefer paying in pesos when I can. You don't really need that much cash for gas, unless this is some lifetime adventure trip across half a continent.

I think Capital One is one of the few that does not charge a fee. But almost all the others charge about 3% if you are using a foreign card. Chris is using a Mexican card. Unless it is an emergency we do like BrianSue and use a debit card. If you hand your card to an attendant ( in any country) and he takes into the office you stand a chance of having it skimmed. Wal mart in Mexico is one of the worst for having your card compromised.

Moisheh

Our Mastercards have been compromised (unauthorised charges) twice in the past two years. They have never been used in Mexico. The first bunch showed up in January last year, the card had last been used in Laredo November 1st.

The second time was this spring after arriving home. We suspect both were scammed in the USA at fuel stops.

Mastercard made good but it's a PITA to have to change card numbers and redo out accounts in the computer.

qtla9111 - Chris,

Did you get any international monetary fees on you MX card in the US or Canada? Could be we have the wrong cards - from two different credit unions in the US - but we always get charged the fee if we use our cards. Never a fee on our debit cards. When we pay the deposit at the border which I think is $300 we are also charged $10 - $11 fee - we get it all back when the deposit is refunded. I don't get it. We have had cards compromised in the US and the Caribbean and had them cancelled while on vacation out of the US. It is quite a hassle with lots of begging phone calls. We now have multiple accounts - joint accounts - at two different credit unions so if one card goes bad we have several back ups. Maybe we are too cautious but our system seems to work for us.