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I was also confused with his response, thanks for clarification. The reason I ask is that on a recent trip the ATM's at the airport charged 10% or more over the average exchange rate and didn't know if this was common in Cozumel . Yep $5 is not material but when I was exchanging $1500 several times a 10% excess fee was....well excessive.
 
When we last went to Cozumel I went to my local bank and converted what we thought we needed. We didn't get the best rate plus they took 3.5 percent to convert. As you know what you think is enough never is. So we decided to just pull money out at the supermarket, there was ano ATM as you exit the store, an take our links when we got home to see our bank statement. To my surprise the exchange was better and the currency conversion of 3.5 percent wasn't charged either. I'm not 100 percent sure that this wasn't an error since we haven't gone back yet but I know I won't convert my money in Canada again.
 
When we last went to Cozumel I went to my local bank and converted what we thought we needed. We didn't get the best rate plus they took 3.5 percent to convert. As you know what you think is enough never is. So we decided to just pull money out at the supermarket, there was ano ATM as you exit the store, an take our links when we got home to see our bank statement. To my surprise the exchange was better and the currency conversion of 3.5 percent wasn't charged either. I'm not 100 percent sure that this wasn't an error since we haven't gone back yet but I know I won't convert my money in Canada again.

Nope, no mistake. That's why most people go on the rants that they do about using ATM's for your pesos. Just use the ATM's in a bank foyer, or in one of the supermarkets. Never use a free-standing one on the street.
 
I was also confused with his response, thanks for clarification. The reason I ask is that on a recent trip the ATM's at the airport charged 10% or more over the average exchange rate and didn't know if this was common in Cozumel . Yep $5 is not material but when I was exchanging $1500 several times a 10% excess fee was....well excessive.
OK this seems unusual, do you remember which ATM was used? Normally there should be a fee declaration posted which is typically $30-50 MXN (1.5 - 3 USD) that would be the ATM fee just like in the USA and posted prior to the transaction and requiring an affirmative response. If agreed to and your bank agrees that sufficient funds are available the machine should output the requested cash on Peso's.
At this point, as I understand it and if someone out there in banking can affirm or deny, your bank is on the hook to replinish those funds back to the dispencing bank or institution. Now your smiling banker who no longer gives out toasters charges your account for the funds. The exchange rate and any fees should show on your statement and this rate and fee schedule says a lot about how straightforward or sleezy your bank is.
 
Boy, I don't know... this whole thing just gets so confusing for really no reason. Bottom line is every human being who travels at least once a year and is going to need to exchange their US dollars for Pesos should just get a Schwab online bank account and be done with all of these crazy issues and confusion.

All of your ATM fees will be rebated right back into your account, you can take out 200 pesos with a $5.00 fee twenty times a day and the $100 in ATM fees will be rebated right back into your account. So you don't have to play the game of "Should I take out 400 pesos or 500 pesos? Will I need to take out more later, but then have to pay another ATM fee????"

You also are guaranteed against fraud so that removes all the ridiculous fraud that goes on in Mexico, even with the cartel and their blue tooth devices installed in bank ATMs. And finally you're guaranteed the best exchange rate. Takes only a few minutes to sign up and no I don't get a commission. And then it's just so brainless, you just go get some pesos whenever you want.
 
Now I was not clear, the excess charges did not occur in Cozumel they happened in Rome. Supermarkets and banks sound like the way to go.
 
You also are guaranteed against fraud so that removes all the ridiculous fraud that goes on in Mexico, even with the cartel and their blue tooth devices installed in bank ATMs.
I do not know of a single incidence of a bluetooth skimmer installed in a bank ATM on Cozumel. Do you?
 
So rumor has it that the banks will now exchange the new US $100 bills without any problem, like we used to be able to do in years back. Does anyone have experience trying this lately?
 
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