Nothing for nothing, but a free standing machine sitting on the street called Cashola should frighten you. The only other machine I have seen called Cashola was in a casino and it was designed to take your money.
Gouged by ATM in Cozumel!
- Thread starter underthedeepblue
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Never use a free standing ATM......anywhere!!! I made the mistake of using the freestanding ATM at the El Cid several years back and when I got home I noticed a charge from Volaris Airlines for tickets from Cancun to Tijuana on my ATM card that I had used at the hotel. Someone had scammed my number.....never again will I use one of those ATM's.........
ChainDiver
Contributor
I just had the same thing happen.
I called my bank and they will look into it.
500$ US withdrawal turned into a 610$ CAN hit on my bank account.
But I guess I already know the answer.
The machine kept saying the exchange rate was 15.75 and I kept thinking why are you telling me the exchange rate when I am getting US dollars. Well I guess they converted the 500 * 15.75 = 7855 + 66peso fee = 7941. 7941 Pesos converted to CAN on XE.com is 599$CAN. Add the banks conversion rate and there you go!
I did a Peso withdrawal of 3000 and it came out to 239$CAN. 3000 + 88 (fee) = 233$CAN.
Live and learn!
I called my bank and they will look into it.
500$ US withdrawal turned into a 610$ CAN hit on my bank account.
But I guess I already know the answer.
The machine kept saying the exchange rate was 15.75 and I kept thinking why are you telling me the exchange rate when I am getting US dollars. Well I guess they converted the 500 * 15.75 = 7855 + 66peso fee = 7941. 7941 Pesos converted to CAN on XE.com is 599$CAN. Add the banks conversion rate and there you go!
I did a Peso withdrawal of 3000 and it came out to 239$CAN. 3000 + 88 (fee) = 233$CAN.
Live and learn!
Last edited:
Craig66
Contributor
ChainDiver it was great meeting you at CM. I personally have used the bank ATM's dozens of times without incedent as long as you follow two simple rules, which alas, unless you know them, are not always that obvious.
The first is to never ever use a non bank owned free standing ATM (although some here have stories of the bank owned ATMs I have never had an issue)
The second is never ever withdraw US dollars from the ATM's - as you learnt you land up doing a double conversion in which you lose on both ends and in this case to the tune of 15-20%.
As you say live and learn but I truly would not be overly worried about getting Pesos from a legitimate bank machine of which the one in the square certainly falls into that category.
Craig
ChainDiver
Contributor
Hi Craig,
Thanks for the info. I have withdrawn local currency from different countries, first time I did US while not in the US. Usually no problems.
It was good to meet you too. How was the rest of your diving? Did your daughter enjoy her diving?
Mike.
Thanks for the info. I have withdrawn local currency from different countries, first time I did US while not in the US. Usually no problems.
It was good to meet you too. How was the rest of your diving? Did your daughter enjoy her diving?
Mike.
Craig66
Contributor
We had a blast - alas as always 9 days goes by way too fast !!!
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