Buy pesos at airport ATMs?

[gopbroek]

In July of 1979 in boot camp at San Diego we got our first paycheck. We were marched over to the on base BOA branch to open an account @ $15 a head, no choice. This allowed us to cash out our meager check minus the 15 bucks and then take the rest and give it back to the navy to apply to our debt from our first hair cut, the uniform issue and toiletry kit we had received on arrival to boot camp. I haven't used BOA since I got out of boot camp. Yep I can hold a grudge

 

[hilljo88]

Transferwise: net of current fees/exchange rate, $1000US = 19,620.38 MXN

 

[DandyDon]

there is a cluster of bank ATM's near the restrooms in the ticket counter side including a Banamex (Chase?) machine.
If I hadn't had Pesos already I would have had a travel companion watch my bags and gone out and over to the other entrance and hit the Banamex machine.

Ok, yeah, that's why I never use them. I travel alone and don't want to hike over to the ticket counter side to use them. Having them over there makes no sense.

The reported Wells Fargo rate of 18.9 : 1 is a clip of about 5%, it is lousy. If they are clipping 5% on exchange rates I would wonder what else they are clipping you on.

None of them are a charity. I do resent them claiming no fees, but it's a buyer beware thing. They took over a bank I started with years ago, their branches are convenient over much of the US, so oh well.

I checked my local mall exchange. Lynnwood WA. 18.42 with a $10.00 US commission. 7.7% worse than gobroek’s example (before commissions).

Yeah, those convenience stores are usually the most expensive.

In July of 1979 in boot camp at San Diego we got our first paycheck. We were marched over to the on base BOA branch to open an account @ $15 a head, no choice. This allowed us to cash out our meager check minus the 15 bucks and then take the rest and give it back to the navy to apply to our debt from our first hair cut, the uniform issue and toiletry kit we had received on arrival to boot camp. I haven't used BOA since I got out of boot camp. Yep I can hold a grudge

How odd. I did boot across the bay in 1967, and we were always paid in cash.

Transferwise: net of current fees/exchange rate, $1000US = 19,620.38 MXN

With whom?

 

[mediumone]

Ok, yeah, that's why I never use them. I travel alone and don't want to hike over to the ticket counter side to use them. Having them over there makes no sense.


None of them are a charity. I do resent them claiming no fees, but it's a buyer beware thing. They took over a bank I started with years ago, their branches are convenient over much of the US, so oh well.


Yeah, those convenience stores are usually the most expensive.


How odd. I did boot across the bay in 1967, and we were always paid in cash.


With whom?

Multi Currency Account | Foreign Currency Account by Wise

 

[mediumone]

With whom?

Oops. Wrong quote.

Multi Currency Account | Foreign Currency Account by Wise

 

[kelemvor]

I checked with my bank. They use the "standard market exchange rate" (currently 1 USD = 19.8802 MXN) and charge a 1% fee on resulting in $1USD=17.89MXN for $1,000USD converted.

When I was last in Mexico, we paid for everything with a regular debit card. Most of what we spent went onto the resort bill, but we spent a combined total of about $200 usd on a dinner at a local restaurant and a piece of silver jewelry from a street urchin (vendor) near the cruise pier and a couple misc items from MEGA. I'm sure we overpaid due to fees for the non-resort purchases. Not the end of the world.

 

[edoralive]

I'm late to the party. On our last trip to Playa Del Carmen, we passed through the Cancun airport with the intention of pulling funds from the ATM. We were surprised to find that the ATM was broken. With no way to get pesos out, we couldn't pay for the bus to PDC, and ended up renting a car (which turned out to be a good decision, but...).

In the future, I would exchange prior to departing, especially if there are cash-only expectations where you're heading.

On our trip to Aruba this year, for example, we used cash zero times.

 

[DandyDon]

charge a 1% fee on resulting in $1USD=17.89MXN for $1,000USD converted.

1% of $1,000USD is $10.

We were surprised to find that the ATM was broken. With no way to get pesos out, we couldn't pay for the bus to PDC, and ended up renting a car

You could only find one ATM?

 

[kelemvor]

1% of $1,000USD is $10.

Lol.. el kelemvor math fail. Thanks for the correction.
So that $1k would get me 19,681 pesos and the rate ends up being 1:19.68

That seems like an OK deal to me. Am I wrong? Also, no risk of getting ATM scammed.. since that is reportedly a thing in MX.

 

[DandyDon]

Lol.. el kelemvor math fail. Thanks for the correction.
So that $1k would get me 19,681 pesos and the rate ends up being 1:19.68

That seems like an OK deal to me. Am I wrong? Also, no risk of getting ATM scammed.. since that is reportedly a thing in MX.

I think you need to ask them to clarify. It sounds good tho.

They use the "standard market exchange rate" (currently 1 USD = 19.8802 MXN) and charge a 1% fee