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Who's got the best deal for exchanging USD for pesos?

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Who's got the best deal for exchanging USD for pesos? Empty Who's got the best deal for exchanging USD for pesos?

Post by Smartalex Wed Jan 07, 2015 2:50 pm

Need to exchange U.S. dollars for pesos. Bancomer won't let me deposit the money to my account. Who's got the best exchange rate? I'm located in Chapala.
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Post by RVGRINGO Wed Jan 07, 2015 5:27 pm

If you have cash USD, it might benefit you to find someone heading north and exchange some currencies with them.

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Post by Clueless Wed Jan 07, 2015 6:03 pm

IME (In My Experience), there is no best deal, only the lesser of the worst.

If you're talking US$200 or under, just bite the bullet, otherwise the advice of RVGRINGO is probably the best you will get.
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Post by Pedro Wed Jan 07, 2015 10:21 pm

intercam beside the oxxo in ajijic
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Post by Playaboy Thu Jan 08, 2015 6:11 am

Banco Azteca in Chapala was exchanging at 13.9 yesterday.

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Post by Smartalex Thu Jan 08, 2015 12:54 pm

Thanks for the advice. I got 13.86 at Banco Azteca today.
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Post by oncesubtle Thu Jan 08, 2015 1:06 pm

Got 14.20 at Intercam this morning.
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Post by Clueless Thu Jan 08, 2015 3:31 pm

$14.20 net seems good.
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Post by tictoc Tue Feb 10, 2015 5:44 pm

Smartalex wrote:Thanks for the advice. I got 13.86 at Banco Azteca today.
Wow places down there are charging almost 1 peso (.809) per dollar. I know it isn't down there so probably isn't helpful... I got a quote from B of A in the states and they charge $35 @ 14.5 to 1 (so + .35 pesos per dollar as the exchange was 14.85 that day) to transfer (this was on the Feb 8).

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Post by David Tue Feb 10, 2015 7:55 pm

A very poor deal.
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Post by MexicoPete Wed Feb 11, 2015 7:50 am

Yesterday I withdrew $3000 pesos from the Scotia Bank ATM for $202.99 US, and that equates to 14.779 pesos per dollar using my B of A Debit card. I have only a few thousand dollars in my B of A account. However I am given these good rates because linked to my B of A account is my retirement account which happens to be in Merrill Lynch which is owned by B of A.

If I did not have my retirement account linked to my B of A account, I would not have a large enough total to have the fees normally charged to B of A accounts. How much do you have to have? I don't know, but I am told that many folks in this situation do qualify for this discount. Without this benefit, there might be a 2 or 3% charge, I don't know
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Post by tictoc Wed Feb 11, 2015 7:58 pm

MexicoPete wrote:Yesterday I withdrew $3000 pesos from the Scotia Bank ATM for $202.99 US, and that equates to  14.779 pesos per dollar using my B of A Debit card. I have only a few thousand dollars in my B of A account. However I am given these good rates because linked to my B of A account is my retirement account which happens to be in Merrill Lynch which is owned by B of A.

If I did not have my retirement account linked to my B of A account, I would not have a large enough total to have the fees normally charged to B of A accounts. How much do you have to have? I don't know, but I am told that many folks in this situation do qualify for this discount. Without this benefit, there might be a 2 or 3% charge, I don't know
Well, I'm a premier costumer with BofA because of my balance so I would think that I would get their top rate but like you, I don't know what is needed for what. I'm trying to figure a couple of things out... Is your Scotia Bank account a Mexican account, International, Or American? If it is a Mexican account, What rate did you get when you transferred your money from BofA to Scotia? I infer that you did it by check? Have you had any issues lately doing that? I have read that a few people have.

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Post by MexicoPete Wed Feb 11, 2015 8:29 pm

I do not have a Scotia account. I simply use my BofA Debit card at the Mexican Scotia Bank ATM near Domino's Pizza and Wal*Mart here lakeside.

I just looked at the spot rate of exchange rate and it is over 15 to 1. So I will be phoning my Merrill Lynch broker tomorrow, and have him wire funds to my Actinver Stock Brokerage account, where I also almost get the spot rate of exchange. I get only three wire transfers per free per year. Persons with more funds than I, get more free wiring fees per year. But three is all I need :).
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