What is the cheapest way to buy Mex Pesos?
Me again, from reading the different post, I see you need some cash to pay for different things like Autopista and some camping or else. What would be best way to buy Mexican Pesos? From a Canadian pe...
Forum Discussion
Hi Kidoo
Glad to see you are joining us Mexico aficionados.
Pesos are best obtained from ATMs using your debit card just as you do at home. Most will have fees of some sort, though usually not too exorbitant. We are fortunate with our HSBC account which has no ATM fees even from foreign banks. Most will have fees.
Always take out as much as you can to reduce fees which are per transaction, and don't vary with the amount.
If possible, use the bank machines at a bank or very visible location such as a supermarket. Don't flash a lot of cash.
Some machines have a transaction limit, many of which vary according to how busy the place is or how much cash is left in the machine. Sometimes I find I'm limited to 2000 pesos where I am usually able to take a lot more. In this case I just make several transaction, though this will give you a large wad of smaller bills (sometimes useful).
When I take out say 10,000 pesos my wife gets some and we each put some in assorted pockets, never the whole amount in one large lump in one place. Note though that we have never been robbed at at cash machine.
If you have a Scotia Bank account you may or may not have to pay fees at a Mexican Scotia Bank. Check at home before you leave. Also make sure your daily limit is large enough.
Using Casas de Cambio can be pricy, hotels even more so. Some credit cards also have transaction and foreign currency fees.
The cheapest place to change money into pesos is usually at a bank teller itself BUT the line is usually long and you will need a passport. Many banks now have a limit on how much foreign currency you can change at one time.
We pay cash for almost everything. Most large supermarkets now take credit cards and more and more Pemexs (gas stations) are doing so.
Glad to see you are joining us Mexico aficionados.
Pesos are best obtained from ATMs using your debit card just as you do at home. Most will have fees of some sort, though usually not too exorbitant. We are fortunate with our HSBC account which has no ATM fees even from foreign banks. Most will have fees.
Always take out as much as you can to reduce fees which are per transaction, and don't vary with the amount.
If possible, use the bank machines at a bank or very visible location such as a supermarket. Don't flash a lot of cash.
Some machines have a transaction limit, many of which vary according to how busy the place is or how much cash is left in the machine. Sometimes I find I'm limited to 2000 pesos where I am usually able to take a lot more. In this case I just make several transaction, though this will give you a large wad of smaller bills (sometimes useful).
When I take out say 10,000 pesos my wife gets some and we each put some in assorted pockets, never the whole amount in one large lump in one place. Note though that we have never been robbed at at cash machine.
If you have a Scotia Bank account you may or may not have to pay fees at a Mexican Scotia Bank. Check at home before you leave. Also make sure your daily limit is large enough.
Using Casas de Cambio can be pricy, hotels even more so. Some credit cards also have transaction and foreign currency fees.
The cheapest place to change money into pesos is usually at a bank teller itself BUT the line is usually long and you will need a passport. Many banks now have a limit on how much foreign currency you can change at one time.
We pay cash for almost everything. Most large supermarkets now take credit cards and more and more Pemexs (gas stations) are doing so.
