If I were to go into a bank on Cozumel with dollars to exchange for pesos. what exchange rate would I be likely to get? The international exchange rate today is 19.97 pesos : US$1.
Exchange rate at banks?
- Thread starter ggunn
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Damian G. Finch
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And what amount would trigger it?
The banks generally won't exchange money unless you have an account. The cashier (in person) rates are quite a bit lower than any published rates you find on the internet. I will generally get about 0.5 mxn to usd lower than Morningstar rates (for example) for transfers which are a bit better than the rate at the cashier. I think the banks and the exchange houses for sure have limits (daily/monthly?).
If you are looking for walking around money just use the exchange houses.
If you are looking for walking around money just use the exchange houses.
gopbroek
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I suspect the reletively poor exchange rate for physical foreign currancy has to do with the handling costs incurred by the local banks. The best exchange rate is usually from your bank via a local bank ATM. Your bank sets the exchange rate and transfers the funds digitaly to the local bank and the local bank typicaly gets a fixed convience / service fee for dispensing the cash, which may be refunded to you from your bank, depending on which bank you use.
sharky60
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in over 25 years of visiting the island, we have never exchanged money.
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