Trip Report Cozumel April 15-29, 2023

[ChuckP]

This was never an issue for me in the past when the official exchange rate was pretty stable and BA's rate was very close to it, but this time for a couple thousand dollar dive bill an 18:1 vs. a 20:1 rate was significant. Thanks to those who posted ATM alternatives that return US$, I was under the mistaken impression that the only ATMs that did that that were the standalone ones out on the sidewalks in town.

Those ATM's that dispense dollars come with a huge fee - I did it once at one in Chedraui, was like 30-40 dollars on a $400 withdraw.

That old you think you got a great exchange rate trick cause the number is higher........

Bring dollars with or withdraw pesos from an ATM....

 

[ggunn]

Those ATM's that dispense dollars come with a huge fee - I did it once at one in Chedraui, was like 30-40 dollars on a $400 withdraw.

It wasn't a cash advance from a credit card, was it? They really get to you for that.

 

[ReefHound]

Those ATM's that dispense dollars come with a huge fee - I did it once at one in Chedraui, was like 30-40 dollars on a $400 withdraw.

That old you think you got a great exchange rate trick cause the number is higher........

Bring dollars with or withdraw pesos from an ATM....

My understanding is that Mexican law requires all banking transactions to be based in pesos, so to give you dollars they first convert your US bank dollars to pesos, then convert pesos to MX bank dollars. Two conversions with unfavorable exchange rate and fees on both.

 

[Redfoot]

Glad you had a nice trip and happiest of birthdays to your mom! That is so cool she still travels and enjoys life to the fullest.

Julio is the man! I really enjoyed diving with him when I was there. He had some good stories about living all over Mexico and we had some great SI discussions.

Good to hear that the nightclub/dancehall/whatever made all that racket at night was not open. That music is just obscenely loud.

Thanks for posting the report and hope that you get back down again soon!

 

[ChuckP]

It wasn't a cash advance from a credit card, was it? They really get to you for that.

Nope - a simple withdraw from my business checking - the same card gets charged like 30-50 pesos for any peso withdraw at CI Banco. Sometimes you wonder when the number on the screen only reads 35 - is that pesos or dollars?? I check my account online after the transaction and the fee was in dollars....

This is all almost 4 years ago so take it for what it is.

If you go to a money exchange place and take 100usd and buy pesos, then take the pesos and instantly buy dollars back, you'll loose 10%......