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

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.

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

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.

intercam beside the oxxo in ajijic

Banco Azteca in Chapala was exchanging at 13.9 yesterday.

Thanks for the advice. I got 13.86 at Banco Azteca today.

Got 14.20 at Intercam this morning.

$14.20 net seems good.

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).

A very poor deal.

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

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.

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 :).